BPI to adjust Maxi-Saver minimum balance to 2M

BPI has announced changes in the Terms and Conditions governing all Peso Maxi-Saver Savings Accounts, effective June 1, 2021.

As the bank implements changes, all Peso Maxi-Saver Savings Accounts would have an ADB requirement of PHP 2USD 0.03INR 3EUR 0.03CNY 0.25 million for both debit card and passbook from PHP 50,000USD 852INR 72,230EUR 812CNY 6,205 and PHP 75,000USD 1,278INR 108,345EUR 1,217CNY 9,308. Plus, the required daily balance to earn interest would also be raised to PHP 2USD 0.03INR 3EUR 0.03CNY 0.25 million from PHP 50,000USD 852INR 72,230EUR 812CNY 6,205 and PHP 75,000USD 1,278INR 108,345EUR 1,217CNY 9,308.

Check out the changes in the Terms and Conditions of Peso Maxi-Saver Savings Accounts below.

BPI Advisory published on March 31

However, the bank retains the interest rate of 0.125% per annum. The said interest rate would apply for accounts with an ADB of PHP 2USD 0.03INR 3EUR 0.03CNY 0.25 million and above. Note that there’s still a limit of six withdrawals per month. Moreover, no interest will be earned if withdrawals go beyond the limit.

BPI mentioned in an advisory that they would be communicating to customers with Peso Maxi-Saver Savings Accounts about these changes. BPI also reminds customers to ensure their contact details with the bank are updated.

Source: BPI