Banco De Oro Junior Savings Account  » Finance  »
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  • My little nieces and nephews have a savings account under their names except for the eldest who is I think almost 13

    • by Honey
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      My little nieces and nephews have a savings account under their names except for the eldest who is I think almost 13. It was my dad’s idea to help them save money.

      All their birthday and Christmas money goes into the savings account.

      Although it has only been 7 months since they started on saving, the little kids are actually learning


      to save.

      I didn’t think it would teach them or help them learn about the importance of money but it has and my dad is a genius.

      For an initial deposit of 500 pesos, the little ones can open a passbook account under their name which they can use to withdraw and deposit anytime.

      For the ones who are 8 years ...


      • and older, they get an ATM card for an initial deposit of 2,000 pesos.

        The only requirements are photocopies of their birth certificates, 2 ID pictures and 2 valid IDs and 2 ID photos for any of their parents.

        The process is quite easy, my siblings didn’t even have to go there.

        My dad just got all of the documents and

        he went to the bank to open it for them.

        The interest rate isn’t really that high, actually it’s just 1% per annum; but at least the kids will have a safe place to put their money.

        My dad likes Banco de Oro; and I just might open that savings account I’ve been meaning to but never got around to doing.




    0
    raindrops says :

    its is possible to open an account for my nephew?what is the requirements needed?what age he can withdraw the money? Thank you

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    John says :

    To qualify for this particular account the child has to be below 12 years. In terms of other requirements, the initial deposit has to be at least Php 100. The child won’t be able to access the account until the age of 18. Here’s a link to the BDO website just in case you want to view other details on the account:

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    Mitchay says :

    is it really 100 but why mentioned need to have 500 and also cannot have an atm even within the website if the kid is 7 - 12 can have ATM and passbook at the same time. I am really not sure if I will continue or cancel the savings with them :(

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    0
    little_loster95 says :

    I just wanna ask how much do I need so I can open a personal account? What are the requirements to be submitted? How much money do I need to left in my bank account so will not receive any penalty from the bank?

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    Jules Li says :

    The initial deposit amounts vary depending on the account type. You don’t need to keep a minimum balance with some accounts, but with some you do. Here’s a link that includes this information for savings accounts: You can also use this same page to access the information for other account types as well.

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    0
    jether hiel urbiztondo says :

    what is the steps in applying a savings acoount in banco de oro?

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    Jules Li says :

    You will have to visit a branch. You will need two valid IDs and two copies of billing statements.

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    0
    manolo rainuel says :

    hi, can i ask is it possible to deposit on my son junior savings account thru remittances, my son is only two years old that why he only have passbook. and we are living here [at] UAE.

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    erielav says :

    yes u can deposit while u are in UAE
    i’ve done that before

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    -1
    bartholomew says :

    How much money do I need to left in my bank account so will not receive any penalty from the bank?

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    Jules Li says :

    You didn’t mention what type of account you have. This varies depending on your account type. However, here’s a link to a page which includes minimum balances for savings account:

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    -1
    barrie lowe says :

    Can you please send me an application form in regard to a junior savings account in respect of my daughter. I am currently living with my wife in Abu dhabi but we would like to have an account for our daughter where we can deposit a first payment of PS 40,000 and then send a sum to the account every month. Thanking you in advance Kind regards Barrie lowe

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    Jules Li says :

    Barrie, you actually can’t get a form online. You will have to visit a local branch to apply.

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    -1
    bernadette says :

    hi, can i open an account for my children. what do i need to submit and how much is the maintaining balance. all i want is i`m sending then money in their saving account for their savings and for them to use as well. thank you. bernadette

    ReviewStream.com
    John says :

    The maintaining balance is Php 100. However in order to gain interest you need to have Php 500. To open an account, you’ll need two forms of ID for yourself, a birth certificate for the child, a photo of you-the parent, and a photo of the child.

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    -1
    racquel castillo says :

    hi. i just wanna ask if its possible to open a junior savers even if the guardian dont have a savings account? thankyou

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    -2
    bartholomew says :

    I just wanna ask how much do I need so I can open a personal account? What are the requirements to be submitted? Thank You

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    Jules Li says :

    You will have to visit a Banco De Oro branch. You will need two photocopies of valid IDs. You will also need two billing statements to verify your address.

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    -15
    Leclec says :

    My daughter has a bdo junior savers account. How can she withdraw without an atm card? What are the requirements if she’ss withdraw with her passbook over the counter?

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    The review was published as it's written by reviewer in July, 2007. The reviewer certified that no compensation was received from the reviewed item producer, trademark owner or any other institution, related with the item reviewed. The site is not responsible for the mistakes made. 422507193910731/k2311a0725/7.25.07
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