There are tons of savings account product offered by different banks, it's a bit hard to choose if were are we going to put our hard earned money. It's vital that we are aware of the cons and pros of each products before applying or opening an account. There are several factors to consider that will suits our needs when it comes to savings. To some a certain product will work but for others maybe in reverse.
Recently, I am actually having a hard time managing my finances specially making it a habit on putting a portion of my salary to my savings account. I've done a thorough research on how to automate my savings and I found this BPI Direct Save Up + Insurance which I think very attractive because its not just you're saving but with a bonus of having an insurance, it's like hitting two birds with one stone.
BPI Direct Save Up + Insurance is a BPI product which allows you to automatically deducts money from your payroll or personal savings account. It's your decision if how much you want to transfer (minimum of P250) on a regular basis, you can schedule it weekly, bi-weekly or monthly.
BPI Direct Save Up + Insurance comes with information card not an atm card. Instead of having an atm card you have with you the info card that will be the proof of your insurance. Take note that this product has NO ATM CARD which only means that you're not allowed to withdraw your money which is very attractive for those who really wants to save. The only way you can withdraw your money is by transferring it back to your personal savings account which is the only disadvantage of this account as you can do it by just one click.
No Initial Deposit. The maintaining balance is 1,000 & 5,000 Php average daily balance(ADB) to earn 0.250% annual interest rate. There's a 250 Php fee if the average daily balance go below the maintaining balance.
FREE BPI-Philam Life Insurance. This is a great bonus and very attractive for those looking for a savings account product. No need of medical check-ups or premium payments and you will get an equivalent coverage of 5 times your account balance.
- Basic Life : 5x the account’s average Month-to-Date Average Daily Balance (MTD-ADB) of the past three calendar months with a maximum amount of P2,000,000 regardless of the number of accounts opened by the insured individual.
- Accidental Death : Additional 5x the account’s average Month-to-Date Average Daily Balance (MTD-ADB) of the past three calendar months up to P2,000,000 regardless of the number of accounts opened by the insured individual.
- Accidental Dismemberment : 5x the account’s average Month-to-Date Average Daily Balance (MTD-ADB) of the past three calendar months with a maximum amount of P2,000,000 independent of the number of accounts opened by the insured individual.
1,000 Php minimum monthly ADB* and 5,000 required ADB* to earn 0.250% - See more at: http://www.edpuno.com/2013/03/bpi-direct-save-up.html#sthash.2dFrF7g8.dpuf
1,000 Php minimum monthly ADB* and 5,000 required ADB* to earn 0.250% annual interest rate - See more at: http://www.edpuno.com/2013/03/bpi-direct-save-up.html#sthash.2dFrF7g8.dpuf
BPI Direct Save-Up accounts come with information cards. - See more at: http://www.moneymax.ph/blog/bpi-direct-save-up-insurance-other-perks/#sthash.o1ZNkyJf.dpuf
BPI Direct Save-Up accounts come with information cards. - See more at: http://www.moneymax.ph/blog/bpi-direct-save-up-insurance-other-perks/#sthash.o1ZNkyJf.dpufV
BPI Direct Save-Up accounts come with information cards. - See more at: http://www.moneymax.ph/blog/bpi-direct-save-up-insurance-other-perks/#sthash.o1ZNkyJf.dpuf
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