If you’re really not aware of how banks in the Philippines are performing, then you are in luck because after this read, you just might start looking at your new options as to which bank/s you would consider opening a savings account with.
The Rizal Commercial Banking Corporation (RCBC) is among one of the country’s top universal banks in terms of assets and market coverage. Also, it is one of the largest thrift and commercial banks in the Philippines right now. RCBC Savings Bank is a subsidiary of the Yuchengco Group of Companies (YGC), an organization composed of big stakeholders in all the three aspects of Integrated Financial Services (banking, insurance, and investment). With RCBC’s wide array of banking products and seasoned way of delivering services, many people from all walks of life have entrusted their banking needs with RCBC. If you would like to know how to personally apply for a savings account with RCBC, continue to read…
Applying for an RCBC Savings Account
When you open a savings account with RCBC, you get to enjoy the following perks and services:
- A minimum Php 500 initial deposit and maintaining balance for a regular savings account
- A minimum monthly average daily balance (ADB) of Php 25,000 to earn interest
- An annual interest rate of 0.25%.
- Access your funds via ATM or thru RCBC’s online banking facility.
- The RCBC savings account is available in various currencies such as Philippine Peso, Japanese Yen, US Dollar, and Euro currencies based on your banking and personal preference.
- Two (2) copies of your recent 1 x 1 photo
- Any two (2) of the following government-issued IDs (original and a photocopy):
- Voter’s ID
- Driver’s license
- Postal ID
- TIN ID
- HDMF Pag-Ibig ID
- GSIS / SSS ID
- OWWA ID
- Senior Citizen’s ID
- Government Office and GOCC ID (e.g. AFP ID), etc.
- Police / NBI Clearance
- Any proof of billing / Billing Statement (It does not have to be named after you, but the address should be the same with your current address in your application)
- The Php 500 initial deposit
- [UPDATE] Tax Identification Number (TIN)
- Go to your preferred RCBC branch together with all the above-listed account opening documentary requirements.
- Head over to the New Accounts desk and inform the bank officer that you would like to open a new savings account.
- Accomplish the application form to be provided by the bank officer. Make sure to go through all the details in your application. When everything is in order, submit the form together with the required documents.
- Upon review and verification of your application form and documents, the bank officer will advise you as to when you may come back (usually after 3 to 5 business days) for the collection of your ATM card and account documents.