• An interest-bearing peso savings account wherein deposit transactions are made over-the-counter and through the Cash Deposit Machine (CDM) during official banking hours/days. Withdrawal transactions may be done over-the-counter or at any Bancnet ATMs 24 hours a day, 7 days a week.
• Cashless purchases may also be done through any Point-of-Sale (POS) terminal of partner merchants from department stores, supermarkets and accredited establishments bearing the Bancnet logo.
- At least seven (7) years of age
- Able to read and write
- Not suffering from any legal disability
- With credible identification
Product and Features
|Minimum Initial Deposit||₱500.00|
|Maintaining Balance Requirement- based on Monthly ADB¹||₱500.00|
|Interest Rate (per annum)||0.10%|
|Required Monthly ADB to Earn Interest||₱2,000.00|
|Evidence of Deposit||OFBank Visa Debit Card|
|Maximum ATM Withdrawal per day||₱30,000.00|
|Point-of-Sale (POS) per day - Cashless Payments||₱50,000.00|
Fees and Charges
|ATM Balance Inquiry Fee (Other Banks ATM/ Interbank transaction)||₱1.00|
|ATM Withdrawal Fee (Other Banks ATM / Interbank transaction)||₱10.00|
|ATM Fund Transfer (Intrabank)||₱10.00|
|ATM Fund Transfer (Interbank)||₱25.00|
|Online Interbank Fund Transfer||₱25.00|
|ATM International Cash Withdrawal||₱150.00|
|ATM International Balance Inquiry||₱50.00
|ATM Bills Payment||Free
|Card Replacement Fee||₱150.00
|Service Charge for Falling Below Minimum ADB³||₱200.00
|Account Dormancy4||₱30.00 per month
|Bank Guarantee Against Deposit||₱400.00
|Withholding Tax for Interest Earned||20%
|PDIC Insurance||₱500,000.00 (Maximum deposit insurance per depositor)
²Account Closure Fee will be collected if account is closed within 30 days from account opening.
³Coverage - Accounts falling below ADB requirement for two (2) consecutive month-end and every month-end thereafter, Collection - Monthly to start at the end of the 2nd month.
⁴Account Dormancy Fee will be collected if account is dormant and falls below the minimum MADB.
- Coverage: A savings account is dormant if it has no client-initiated activity for two (2) years.
- Collection: Monthly to start (5) years after the last client-initiated activity date
1. Local: Presentation of at least one primary ID or two valid secondary IDs, one of which with photo and signature
2. Foreigner: Passport, ACR/Diplomatic Identification Card issued by the DFA specifying status
i.e, working, business, student or non-resident
3. Court-appointed Fiduciary (Guardian, Administrator, Trustee or Receiver), all of the following:
Original Copy of Court Order containing the Fiduciary's appointment, Original Copy of Court Order authorizing the Fiduciary to open a deposit account with OFBank
1. Certificate of Registration with the DTI
2. City/Municipal Mayor's Permit
For more information, please feel free to call or visit your nearest or preferred OF Bank Branch.