Passbook Savings Account For Less!

Last week’s post about my 24-payday money challenge, I mentioned that I opened a passbook savings account with PSBank. Today. I will be talking about it here.

Gone are the days when you can only open a passbook savings account with at least Php 20,000 to Php 25,000. Nowadays, opening a passbook account is made easy because people can now open an account with Php 5,000. Yes, you read it right! Passbook account for Php 5,000.

All you have to do is go to the nearest branch, proceed to “New Accounts” teller and express your intention of opening account.

Product Features
Maintaining Balance PhP5,000
Daily Balance to Earn PhP5,000
Evidence of Deposit Passbook
Interest Rate 0.5000%
Interest Crediting Monthly
Service Fee PhP300 if account falls below required Average Daily Balance (ADB)

  • Ready availability of funds
  • Easy tracking of transactions through the passbook
  • Deposit earns interest
  • Additional column in the passbook lets you write down details on every transaction
  • Enroll in PSBank Online and PSBank Mobile, the Bank's secure and convenient electronic banking facilities, to be able to check your account balances and perform other banking transactions anytime, anywhere.

  • Completely filled-out bank forms:
  • Customer Information Sheet (CIS) for Individual Clients
  • Signature Card
  • Signing Instructions and Acknowledgement of Receipt Form
  • Presentation of at least one primary ID or two valid secondary IDs, one of which with photo and signature

It took me just around an hour to open an account. 

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