Passbook Savings Account

  • Traditional deposit account that allows you to save with fixed interest rate
  • All financial transactions are recorded in the passbook given during the time of opening
  • All transactions (deposit or withdrawals) are done via over-the-counter


Product Features
 IndividualCorporate / GovernmentSSS Pensioner
With ATA
With ATA
Minimum Initial Deposit₱500.00₱10,000.00₱10,000.00₱30,000.00₱100.00
Maintaining balance required-based on MADB¹₱500.00₱10,000.00₱10,000.00₱30,000.00₱100.00
Required MADB¹ to Earn Interest₱1,000.00₱10,000.00₱10,000.00₱30,000.00₱1,000.00
Gross Interest Rate Per Annum0.25%0.25%0.25%0.25%0.25%
Evidence of DepositPassbook
with Checkbook
PassbookPassbook with CheckbookPassbook
Interest CreditingQuarterlyQuarterlyQuarterlyQuarterlyQuarterly

¹MADB – Monthly Average Daily Balance


Fees and Charges
  Amount / Rate 
 Regular ClientWith ATASSS Pensioner
Account Closure²₱100.00₱500.00₱100.00
Falling Below Minimum Balance³
₱200.00 (individual) /
₱300.00 (corporate) /
Waived (government)
₱200.00 (individual) /
₱300.00 (corporate) /
Waived (government)
Replacement of Lost/Damaged Passbook₱100.00₱200.00₱100.00
Account Dormancy⁴₱30.00 per month₱30.00 per month₱30.00 per month
Withholding Tax for Interest Earned20%20%20%
Cost of Checkbookn.a
₱250.00 – for Personal Checkbook
₱500.00 – for Commercial Checkbook
Returned Check (DAIF / DAUD)n.a
Presenting Bank – ₱1,000.00
Drawee Bank – ₱1,000.00
Plus penalty fee of ₱200.00 for every ₱40,000.00 or any fraction thereof/per day/per check
Certification Fee₱200.00 plus ₱30.00 (documentary stamps)₱200.00 plus ₱30.00 (documentary stamps)₱200.00 plus ₱30.00 (documentary stamps)
Transaction Statement (re-printing)₱50.00 plus ₱20.00 for every additional page₱50.00 plus ₱20.00 for every additional page₱50.00 plus ₱20.00 for every additional sheet
Advance Statement of Accountn.a₱100.00n.a
Stop Payment Order Application Feen.a₱100.00 (per check)n.a
²Account Closure Fee will be collected if account is closed within 30 days from account opening.
³Falling Below Minimum Balance Fee will be collected if account falls below the required minimum MADB for two consecutive months.
⁴Account Dormancy Fee will be collected if account is dormant and falls below the required minimum MADB.
  • A savings account is dormant if it has no client-initiated activity for two (2) years.
  • Collection will start five (5) years after the last client-initiated activity date.


Benefits to Clients

  • Clients can monitor their accounts by updating the passbooks
  • Cleared funds are withdrawable anytime and earn interest



  • Completely filled-out bank forms
  • Customer Information Sheet (CIS)
  • Signature Card
  • Presentation of at least one primary ID or two valid secondary IDs, one of which with photo and signature; should be SSS Identification Card / UMID (for SSS Pensioners)
  • Letter of Introduction from SSS (for SSS Pensioners)
  • Corporate documents as required from corporate clients


Contact Information

For more information, please feel free to call or visit your nearest or preferred OF Bank Branch.