Choosing the right account to keep your savings is crucial to reaching your goals. Here’s a quick guide on three different kinds of accounts and which type of savings best suits your needs.
If you’re aiming for accessibility, an ATM account is perfect for you. Getting such account gives you easy access wherever there’s an ATM around so you can check your account’s balance, deposit, or withdraw money. Depending on the bank and account that you open, ATM accounts usually come with a free debit card or you can avail one at a minimum cost.
This type of account is perfect as a spending account, for maintaining your monthly budget, or simply for cash management as it allows you to get cash wherever there’s an ATM around.
CIMB Bank’s Fast and Fast Plus savings accounts are great examples of ATM accounts that can give you access to your account 24/7. All it takes is 10 minutes to register and open an account. Account holders eligible for a CIMB Bank Visa payWave debit card get two free withdrawals each month and can perform transactions in over 21,000 ATMs nationwide and in over 61 million merchants worldwide. Moreover, you can access your savings even without an ATM anytime, anywhere through the CIMB Bank PH App.
If you’re the kind of person who does not like to bring cash along with you all the time, online wallets or e-wallets are best for you. This type of account allows you to process over-the-counter transactions without the use of cash or a debit card. All you need to do is to make sure to fund your online wallet account with enough money to cover your expenses for the day.
CIMB Bank’s GSave account takes online wallets up a notch by allowing you to deposit to your savings straight from your wallet. If you’re an existing GCash customer, all you need to do is to register through the GCash app and in just a few taps, you will have opened a savings account. Link your GSave to the CIMB Bank PH app to enjoy the full features of your account. Get interest as high as 4% p.a. as well as access to your savings 24/7 through the CIMB Bank PH App.
Having a savings account right from your e-wallet allows you to have better and easier access to your funds. The GSave account is perfect for saving for your short-term goals, personal savings, or for your emergency funds.
High-yielding savings account
For those who want to get the most out of the money they save, a high-yielding savings account is the perfect account to store your funds. This type of account offers higher interest compared to other accounts available in the market without locking-in your funds for a certain period of time. You can also easily move around, deposit, or withdraw your funds as much as you need.
CIMB Bank’s UpSave account lets you open a high-yielding savings account in less than 10 minutes. There is no initial deposit and minimum balance required and you can access your savings at all times through the CIMB Bank PH App. Eligible customers may also enjoy a FREE Life Insurance coverage that’s worth their Average Daily Balance (ADB) of up to PHP 250, 000.
With CIMB Bank, anyone can enjoy the best-in-market interest rate of 4% p.a! There are three ways to get higher interest. Your first option is to maintain minimum balance of PHP 100,000 in your UpSave and/or GSave account. Another option is to grow your Average Daily Balance (ADB) by PHP 1,000 each month in your UpSave and/or GSave account to enjoy a higher rate on your savings. Plus, if you maintain a minimum of PHP 5,000 in your account, you are eligible for FREE Life Insurance coverage that’s worth your ADB up to PHP 250,000.
If you’re a student or a fresh grad aged 18-25 years old as of May 1, 2021, the CIMB Savings Starter Pack lets you enjoy a higher interest in your UpSave and/or verified GSave account. All you need to do is deposit at least PHP 500 each month. Plus, you can get a Personal Accident Insurance coverage worth PHP 50,000 for FREE.
Learn about getting 4% p.a. interest when you maintain P100,000 in your savings account with CIMB Bank!