On this short article, I will share the basic requirements and simple steps how you can open a savings account in Chinabank. Chinabank is another well-known bank here in the Philippines and provide many banking options to Filipinos.
Chinabank is now subsidiary or part of the SM group of companies owned by Henry Si and family. You can easily find Chinabank branches in common business areas in the Philippines as well as in SM Malls.
That’s another advantage if you have a savings account in Chinabank, you can do transaction in SM Malls which is very convenient.
If you’re looking for guide or information on how you can open savings account in Chinabank, this article might help you. Please see the related information below.
Chinabank savings account features
- Initial deposit
- Maintaining balance
- Minimum balance to earn interest
- Interest rate:
0.25% per annum, subject to 20% withholding tax
Requirements in opening Chinabank savings account
- 2 1×1 ID pictures
- Valid ID (Original and photocopy). Please bring additional ID to make sure.
- TIN number (in earlier part of 2016, almost all establishments doing financial transactions ask to require TIN numbers from their clients/customers)
3 Easy steps to open savings account in Chinabank
1. Go to the nearest Chinabank branch in your area. Make sure to bring the requirements listed above.
2. Go to the new account section and advise the teller you’re going to open a savings account. The teller will provide you the application form.
3. Fill up the application form. Make sure you double check all the information.
Once done, submit it to the teller together with the requirements and initial deposit amount of which savings account you chose.
The bank teller will check and process your application.
Once completed, the teller will advise you when you can claim your ATM or passbook. Usually it’s 3-5 business days but depends on Chinabank branches.
There you have it!
You now have savings account in Chinabank. For complete information and other Chinabank account, please visit Chinabank official website. You can start working on your budget and start working on your financial goals.
For us, our initial goal is to
build a solid emergency fund.Were done with our emergency fund, you can read it here.
Make sure that before you venture into any kind of investments, you have your emergency fund ready. Additionally, you may need to create your financial goals to help you guide your journey.
Always remember that investing in yourself is the best investment of all time. I hope this has been informative, until next time. Cheers!