BDO's minimum opening deposit and account fees

BDO (Banco de Oro) requires a minimum opening deposit of PHP 1,000 for most of its regular savings accounts. This is the amount you must deposit when you open the account — it is not a monthly balance requirement, though some account types have separate maintenance rules.

Beyond the opening deposit, BDO charges a monthly maintenance fee of PHP 300 on standard savings accounts. This fee is deducted from your account balance each month. If your balance falls below PHP 10,000, the monthly fee applies; if you maintain PHP 10,000 or more, the fee is waived.

Some BDO branches offer promotional periods where the opening deposit is lower or waived entirely, particularly for new customers or during specific campaigns. The actual cost to you depends on which branch you visit and what promotions are running at that time.

Key Takeaways

  • You need PHP 1,000 to open a BDO savings account, though promotional offers sometimes reduce or remove this requirement.
  • BDO charges PHP 300 per month in maintenance fees unless your balance stays at PHP 10,000 or above.
  • The total cost in your first month is PHP 1,000 (opening deposit) plus PHP 300 (maintenance fee) if you do not maintain the minimum balance.
  • Different BDO account types — such as youth accounts or special savings products — may have different opening amounts and fee structures.
  • Promotional rates and fee waivers change by branch and season, so asking about current offers when you visit can lower your actual cost.

How the opening deposit works

The PHP 1,000 opening deposit is your own money. It sits in your account and counts toward your balance from day one. You can withdraw it at any time after the account is open, though doing so when ready may trigger the monthly maintenance fee if your balance then drops below PHP 10,000.

If you deposit PHP 1,000 and then withdraw PHP 500, your balance is PHP 500. If that happens before the monthly fee is charged, you will owe the PHP 300 maintenance fee because your balance fell below the PHP 10,000 threshold.

Monthly maintenance fees and how to avoid them

The PHP 300 monthly maintenance fee is charged automatically on a set date each month. The fee is deducted from your account balance, so you do not receive a separate bill — it straightforward reduces what you have in the account.

To avoid this fee, keep your balance at PHP 10,000 or higher. This is a straightforward rule: if your lowest balance during the month is PHP 10,000 or more, no fee is charged. If it drops to PHP 9,999 at any point, the fee applies.

Interest earned on your savings does count toward your balance for the purpose of calculating whether you meet the PHP 10,000 threshold, though BDO savings account interest rates are typically low (often below 1% per year).

Different BDO account types and their costs

BDO offers several savings account variations, and the opening deposit and fees differ by type. A BDO Youth Savings Account (for customers under 18) often has a lower opening deposit, sometimes PHP 500 or less. A BDO Kabayan Savings Account (for overseas Filipino workers) may have different fee structures tied to remittance activity.

Special savings products — such as goal-based accounts or time deposits — have their own minimums and rules. A BDO time deposit, for example, requires a separate minimum (often PHP 10,000 or PHP 20,000) and locks your money for a fixed period, but typically charges no monthly maintenance fee.

Before opening an account, ask the BDO staff which account type matches your situation. The difference in opening cost and monthly fees can be significant depending on your age, employment status, or how you plan to use the account.

Promotional offers and branch variations

BDO frequently runs promotions that reduce or waive the opening deposit for new customers. These offers vary by branch and change throughout the year. Some branches may offer zero opening deposit during certain months, while others may waive the first month's maintenance fee.

The best way to learn what is available is to visit the branch where you plan to open the account and ask directly. Promotions are not always advertised online, and staff can tell you what applies on the day you visit. If one branch does not have an offer you like, another branch may have a different promotion running.

What happens if your balance drops below the minimum

If your balance falls below PHP 10,000, the PHP 300 monthly maintenance fee is charged. This fee is deducted automatically, which can push your balance even lower. If your balance becomes very low or negative, BDO may freeze the account or charge additional penalties.

If you know your balance will drop temporarily, contact BDO in advance. Some branches can place a temporary hold on the maintenance fee or discuss options with you. Waiting until after the fee is charged is harder to resolve.

Comparing BDO to other Philippine banks

BDO's PHP 1,000 opening deposit is standard among major Philippine banks. Metrobank, PNB, and Unionbank all have similar minimums for regular savings accounts. Some smaller or online-focused banks offer lower opening deposits (PHP 100 to PHP 500), but they may charge higher monthly fees or offer fewer branch locations.

The real cost difference comes down to the monthly maintenance fee and whether you can easily maintain the balance threshold. If you plan to keep PHP 10,000 or more in savings, BDO's PHP 300 monthly fee is waived and the opening deposit is your only upfront cost. If your balance will stay lower, a bank with a lower monthly fee or no fee at all may cost you less over time.

Frequently Asked Questions

Can I open a BDO savings account with less than PHP 1,000?

During promotional periods, yes — some BDO branches waive or reduce the opening deposit. Outside of promotions, the standard minimum is PHP 1,000. Ask at your local branch what offers are currently available.

Is the PHP 300 monthly fee charged even if I do not use the account?

Yes. If your balance stays below PHP 10,000, the PHP 300 maintenance fee is charged every month regardless of account activity. The fee applies as long as the account is open and active.

What if I cannot maintain PHP 10,000 in the account?

You will pay PHP 300 per month in maintenance fees. Over a year, that is PHP 3,600. If you expect to keep a lower balance, compare this cost to banks that charge lower or no monthly fees, or consider a BDO time deposit if you can lock money away for a fixed period.

Do I get interest on my BDO savings account balance?

Yes, but the rate is typically very low — often below 1% per year. The interest earned is credited to your account and counts toward your balance for the purpose of the PHP 10,000 fee threshold, but it will not offset the PHP 300 monthly maintenance fee.

Can I close my account if I change my mind?

Yes. You can close a BDO savings account at any time by visiting a branch with your account details and identification. Any remaining balance is returned to you, though some branches may charge a small account closure fee (typically PHP 100 to PHP 200).