Banco de Oro (BDO) Requirements and Peso Savings Account Types

        Banco de Oro or BDO is one of the leading and trusted banks in the Philippines. It has numerous branches and ATM machines nationwide. BDO is well known for its accessibility, convenience and credibility that's why becomes the number one bank for most of the Filipinos. If you are interested to open a savings account with BDO, like any other banks you must produce and present requirements upon application. It is also important that you know what kind of BDO savings account you are going to apply as BDO offers several savings account products, make sure to choose the one that suits your needs and reason of saving.

What are the requirements in opening a BDO savings account?

• At least two (2) valid IDs presented below (*Make sure to bring at least 1 photo-bearing ID and another valid ID.)
• Initial Deposit (depending on what peso savings account you are applying) 
• Two (2) pieces of 1x1 pictures

 

List of Valid IDs for BDO Savings Account Opening

• Passport
• Driver’s License
• School/Company IDs
• Professional Regulation Commission (PRC) ID
• National Bureau of Investigation (NBI) Clearance
• Police Clearance
• Postal ID
• Voter’s ID
• Barangay Certification
• Government Service Insurance System (GSIS) e-Card
• Social Security System (SSS) Card
• Senior Citizen Card
• Overseas Workers Welfare Administration (OWWA) ID
• OFW ID
• Seaman’s Book
• Alien Certification of Registration/Immigrant Certificate of Registration
• Government Office and GOCC ID, e.g. Armed forces of the Philippines (AFP ID), Home Development Mutual Fund
• (HDMF ID)
• Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
• Department of Social Welfare and Development (DSWD) Certification
• Integrate Bar of the Philippines ID
• Company IDs issued by private entities or institutions registered wit or supervised or regulated either by the BSP, SEC or IC

 

Types of BDO Savings Account

 

           There are several Peso Savings Account Banco de Oro offers. You are free to choose on what savings account you will be applying just ensure that it suits your banking needs and meet your goals and reasons of saving.

• Peso Passbook Savings Account (with or without ATM) – The peso passbook savings account  (Passbook with ATM )is the one I chose. Tips: if you are serious of saving I suggest to open a passbook savings account without ATM to avoid frequent withdrawal. Initial deposit- P5,000/Maintaining balance-P10,000.

• Peso ATM (without passbook) – If you frequently withdraw, this savings account suits you best. Initial deposit & Maintaining balance-P2,000.

• Optimum Peso Savings Account Personal – Offers higher interest rate compare to other products but requires bigger initial deposit. Initial Deposit & Maintaining Balance-P30,000.

• Optimum Peso Savings Account Corporate– Suits for partnerships or corporations as this requires bigger initial deposit, offers higher interest rate. Initial Deposit & Maintaining balance-P50,000

• Junior Savers Account – Perfect for kids who wants to start saving. A good start for your kids to learn how to save and making it a habit. Initial deposit & Maintaining balance–P100.

• Power Teens Club Account – Suits for teenagers. Initial deposit & Maintaining balance – P2,000.

• Prime Saver's Account –  Savings account intended for those who are at least 60 years old. Initial deposit & Maintaining balance– P2,000.

•  Direct Deposit Peso Savings Account - You can receive your pension here with zero initial deposit and maintaining balance.