Basic Deposit Accounts

Basic Deposit Account


This refers to interest or noninterestbearing account designated to promote financial inclusion. This
account will enable Filipinos, especially the unserved and underserved, to receive and make payments, as
well as have a facility for store of value. It will have the basic functionalities that will characterize ease,
accessibility, convenience, and reasonable cost for both banks and customers.

Product Features:

Opening Amount: P100.00
Minimum Maintaining Balance: None

Dormancy Charges: None

Maximum Balance: Not more than P50,000.00; Should the depositor exceed the P50,000.00 maximum
balance, the bank should convert the basic deposit account to a regular deposit account

Reserve Requirement: 0%

Interest Rate: 0% per annum



Deposits are insured by PDIC up to P500,000 per depositor.

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