BPI savings accounts require a minimum balance, but the amount depends on which account type you choose

BPI (Bank of the Philippine Islands) does not charge a single "maintenance fee" the way some banks do. Instead, BPI requires you to keep a minimum balance in your account at all times. If your balance falls below that minimum, the bank deducts a fee from your account. The minimum balance requirement varies by account type — some accounts require as little as ₱1,000, while others require ₱10,000 or more.

The reason BPI sets a minimum balance is straightforward: the bank wants to know you are using the account seriously and have skin in the game. It also helps the bank manage its costs. When you meet the minimum, no fee is charged. When you fall short, you pay the difference.

Key Takeaways

  • BPI's basic savings accounts typically require a minimum balance between ₱1,000 and ₱10,000, depending on the product.
  • If your balance drops below the minimum, BPI charges a monthly maintenance fee that is deducted from your account.
  • The fee amount varies by account type, but commonly ranges from ₱100 to ₱300 per month.
  • You can avoid the fee entirely by keeping your balance above the minimum at all times, even if you do not make any deposits or withdrawals.
  • Different BPI savings products have different minimums, so comparing them before opening an account helps you choose one that fits your situation.

Common BPI savings account minimums and fees

BPI offers several savings account products, and each has its own minimum balance requirement. The most common accounts for people new to banking are the BPI Savings Account and the BPI Express Savings Account. The BPI Savings Account typically requires a ₱1,000 minimum balance, while the BPI Express Savings Account may require ₱10,000. If you fall below these amounts, a monthly maintenance fee (usually ₱100 to ₱300) is charged.

BPI also offers accounts designed for specific groups, such as students or senior citizens, which may have lower minimums or waived fees. These accounts sometimes require no minimum balance at all, though they may come with other restrictions — for example, a limit on how many withdrawals you can make per month without a fee.

The exact fee amount and minimum balance can change, and BPI may offer promotional periods where the minimum is waived. It is worth checking with your local BPI branch or visiting their website to confirm the current requirements for the specific account you are considering.

What happens if your balance drops below the minimum

If your account balance falls below the required minimum, BPI will charge a maintenance fee at the end of the month. This fee is automatically deducted from your account, which can push your balance even lower. For example, if your minimum is ₱1,000 and your balance is ₱800, a ₱200 maintenance fee might be charged, leaving you with ₱600.

The fee is charged once per month, not every day your balance is low. So if you dip below the minimum on the 5th of the month and bring your balance back up on the 10th, you will still be charged the fee for that month. This is why it matters to keep your balance above the minimum consistently, not just at the end of the month.

How to avoid maintenance fees

The simplest way to avoid a maintenance fee is to keep your balance above the minimum requirement at all times. You do not need to make regular deposits or withdrawals — the account just needs to have enough money in it. If you have ₱1,500 in an account with a ₱1,000 minimum, you will never be charged a fee, even if you do not touch the account for months.

If keeping a large balance is difficult for you, look for accounts with lower minimums or no minimum at all. Some BPI accounts waive the minimum balance requirement if you set up automatic monthly deposits, even if the deposit is small. Others waive the fee if you maintain a certain number of transactions per month. Ask your BPI branch what options exist for your situation.

Minimum balance versus interest earned

The money you keep in your savings account to meet the minimum balance also earns interest — though the interest rate is usually small. BPI savings accounts typically earn between 0.25% and 1% per year, depending on the account type and current market conditions. This means if you keep ₱1,000 in an account earning 0.5% annually, you earn about ₱5 per year in interest.

The interest you earn is almost always less than the maintenance fee you would pay if you fell below the minimum. So the minimum balance is a cost you bear to keep the account open, not an investment. Think of it as the price of having a bank account, not as money that will grow significantly.

Comparing BPI accounts before you open one

Before opening a BPI savings account, compare the minimum balance requirement, the maintenance fee, and the interest rate across the different products BPI offers. A lower minimum is not always better if it comes with a higher fee or lower interest. An account with a ₱10,000 minimum might be worth it if you can afford to keep that balance and the interest rate is higher.

Write down the requirements for each account type you are considering, then ask yourself: Can I keep this minimum balance without hardship? If the answer is no, choose an account with a lower minimum or look for one with a waived fee. If you are not sure which account fits you best, visit a BPI branch and ask a teller to walk you through the options. They can explain what each account costs and what you get in return.

What to do if you cannot meet the minimum

If you are struggling to keep a minimum balance in your account, you have options. First, talk to your BPI branch about accounts with lower minimums or fee waivers. Some branches offer special accounts for people with irregular income or limited savings. Second, consider whether you need a savings account at all right now — if you cannot afford to keep money set aside, a checking account or a different type of account might be a better fit.

Third, if you already have an account and are falling short, contact BPI and ask about hardship programs or temporary fee waivers. Banks sometimes work with customers who are facing temporary difficulties. Finally, if you decide to close the account, do so before the next maintenance fee is charged. Ask the teller how to close it properly so you do not get charged after you have left.

Frequently Asked Questions

Can I have a BPI savings account with zero balance?

No. BPI requires a minimum balance to keep the account open. If your balance reaches zero, the account may be closed or flagged for inactivity. Even if the account stays open, you will be charged a maintenance fee for any month your balance is below the minimum.

Does BPI charge a fee if I keep exactly the minimum balance?

No. If your balance is equal to or above the minimum requirement, no maintenance fee is charged. You can keep exactly ₱1,000 in an account with a ₱1,000 minimum and never pay a fee, as long as the balance does not drop below that amount.

What if I deposit money after the maintenance fee is charged?

The fee is already deducted and cannot be reversed. However, depositing money after the fee is charged will bring your balance back up and prevent future fees. Going forward, keep your balance above the minimum to avoid another charge next month.

Are there BPI savings accounts with no minimum balance requirement?

Some BPI accounts have no minimum balance, particularly accounts designed for students or senior citizens, or accounts that require automatic monthly deposits. Ask your local BPI branch which accounts currently have no minimum requirement, as these offerings can change.

How often is the maintenance fee charged?

The maintenance fee is charged once per month, usually at the end of the month or on a specific date set by BPI. It is not charged daily or weekly, only once per billing cycle.