Close-up of a green logo showing the letters "USB" with "University" text underneath on a dark background.

Savings Account

Savings Account

  • An interest-bearing account, which allows deposits and withdrawals over the counter with the use of a passbook.
  • Uses passbook to monitor transactions.
  • Deposits are insured by PDIC up to P1,000,000 per depositor.
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Details

Minimum Initial Deposit
Php500.00
Minimum Maintaining Balance
Php500.00
Balance to earn interest (ADB)
Php1,000.00
Interest Rate
0.5%
Withholding Tax
20%
Interest Credited
Quarterly

Fees

Early Closure (within 90 days from opening)
Php200.00
Below Maintaining Balance (ADB)
Php100.00
Lost Passbook
Php100.00
Dormancy Fee
Php30.00 per month after 5 years of Inactivity
Pursuant to the provisions of the Manual of Regulations for Banks issued by the Bangko Sentral ng Pilipinas, a dormancy fee of ₱30.00 may be imposed on a dormant account five (5) years after its last client-initiated transaction, provided that the account balance falls below the required minimum monthly Average Daily Balance (ADB), and subject to prior disclosure and notice requirements under applicable BSP regulations.

Identification and Documentary Requirements

Juridical Entities

Corporation

  • SEC Registration 
  • By-Laws
  • Articles of Incorporation
  • Notarized Board Resolution or Secretary’s Certificate
  • Latest General Information Sheet (GIS)
  • Business Permit or Mayor’s Permit
  • Certificate of Registration – BIR Form 2303
  • List of Principal Stockholders owning at least 20% capital stock 
  • For Signatory and Corp Sec. at  least one (1) Primary ID or two (2) Secondary IDs

Partnership Account

  • SEC Registration 
  • Articles of Partnership 
  • Notarized Partnership Resolution 
  • Business Permit 
  • Certificate of Registration – BIR Form 2303
  • For Signatory, least one (1) Primary ID or two (2) Secondary IDs

Sole Proprietorship

  • Certificate of Registration of Business Name with DTI 
  • Application for Registration with DTI
  • Business Permit 
  • Certificate of Registration – BIR Form 2303
  • For Signatory, at least one (1) Primary ID or two (2) Secondary IDs

Treasurer-In-Trust Account (TITF)

  • Proposed Articles of Incorporation (bearing the acknowledgment receipt of the SEC) 
  • Proposed By-Laws (bearing the acknowledgment receipt stamp of the SEC) 
  • Treasurer’s Affidavit specifying the name of the person who is authorized to open the Savings Account 
  • For Signatory, at least one (1) Primary ID or two (2) Secondary IDs

Cooperative 

  • Certificate of Registration with the Cooperative Development Authority 
  • Notarized Board Resolution 
  • Latest GIS or Director’s Certificate of Incumbent Officers
  • Business Permit or Mayor’s Permit 
  • For Signatory, at least one (1) Primary ID or two (2) Secondary IDs

List of Acceptable IDs

Primary IDs 

  1. PhilID and various formats of PhilSys Digital ID / e-PhilID
  2. Philippine Passport
  3. Digitized Driver’s License (Professional or Non-Professional) ID
  4. Digitized Postal ID
  5. Professional Regulations Commission (PRC) ID
  6. Digitized Social Security System (SSS) ID
  7. Digitized Unified Multi-Purpose ID (UMID)
  8. Digitized Voter’s ID
  9. Digitized Overseas Workers Welfare Administration (OWWA) or Overseas Filipino Worker (OFW) ID
  10. Government Service Insurance System (GSIS) E-Card
  11. Digitized Pag-IBIG Loyalty Card
  12. Digitized Tax Identification Number (TIN) ID or Digital TIN ID Generated Online (eTIN ID)
  13. Digitized Firearms License ID
  14. Integrated Bar of the Philippines (IBP) ID
  15. Digitized Seaman or Seafarer’s Book
  16. Photo-bearing School ID Signed by the Principal or Head of School with a Birth Certificate Issued by the Philippine Statistics Authority (PSA)

Secondary IDs

  1. Senior Citizen ID
  2. Person with Disability (PWD) ID
  3. Non-Digitized Voter’s ID
  4. Non-Digitized Postal ID
  5. National Bureau of Investigation (NBI) Clearance
  6. Barangay Clearance Certificate / ID
  7. Police Clearance Certificate / ID
  8. Photo-Bearing and Signature-Bearing Student Driver’s Permit / License with Official Receipt (O.R.)

If a Foreign National

  1. Passport Issued by Country of Origin; AND
  2. Alien Certificate of Registration (ACR) ID or Special Resident Retiree’s Visa ID
    *     For ACR, the Visa Status should be Permanent Resident. 

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USBank is regulated by the Bangko Sentral ng Pilipinas (https://www.bsp.gov.ph/).

Deposits are insured by PDIC up to P1 Million per depositor.

Close-up of the University Savings Bank logo, featuring a green and gold stylized "U" shape.
USBank is regulated by the Bangko Sentral ng Pilipinas (https://www.bsp.gov.ph/). Deposits are insured by PDIC up to P1 Million per depositor.