BDO savings account rates change based on your balance and account type
BDO (Banco de Oro), one of the Philippines' largest banks, offers different interest rates depending on which savings product you choose and how much money you keep in the account. There is no single "BDO savings rate"—the bank structures its offerings so that higher balances earn higher rates, and different account types (regular savings, high-yield savings, money market accounts) pay different amounts.
The rates BDO advertises are not fixed. They change when the central bank adjusts its policy rate, when market conditions shift, or when BDO decides to adjust its own rates. This means the rate you see today may not be the rate you earn six months from now.
To find the current rate for the specific account you have or want to open, you need to check BDO's official website, call their customer service line, or visit a branch in person. Rates posted online can lag behind actual rates, so a phone call or branch visit gives you the most current information.
Key Takeaways
- BDO offers multiple savings products with different rates: regular savings accounts typically earn less than 1% annually, while higher-tier accounts may earn more depending on your balance.
- Your interest rate depends on your account type and the amount you maintain—larger balances usually earn higher rates.
- BDO rates are not fixed and change when the central bank's policy rate moves or when BDO adjusts its own rates.
- The most accurate current rates come directly from BDO's website, a phone call to customer service, or a visit to a branch.
- Interest is usually credited monthly or quarterly, depending on the account type.
How BDO structures its savings account tiers
BDO typically offers savings accounts in tiers based on your minimum balance. A regular savings account with a low minimum balance earns a lower rate. As your balance grows or as you move to a premium account tier (such as BDO Savings Plus or BDO Money Market), the rate increases.
For example, a regular BDO savings account might earn around 0.25% to 0.50% annually if your balance is below a certain threshold, but once you maintain a higher balance (often PHP 100,000 or more, though this varies), the rate may jump to 1% or higher. BDO also offers accounts specifically designed for larger depositors, which pay rates that reflect current market conditions more closely.
The exact thresholds and rates are not standardized across all branches or time periods. BDO adjusts these tiers periodically, so what applied last year may not apply now. This is why checking directly with BDO is the only reliable way to know what you will earn.
When and how BDO credits interest to your account
BDO credits interest on a schedule that depends on your account type. Most regular savings accounts receive interest credited monthly or quarterly. Some premium accounts may credit interest more frequently or on a different schedule.
Interest is calculated on your average daily balance during the period (usually a month or quarter). This means if you deposit PHP 50,000 on the first day of the month and withdraw it on the last day, BDO calculates interest based on the average balance you held across all days, not just the final balance.
You can see interest credits on your statement or through BDO's online banking portal. If you do not see interest posted when you expect it, contact BDO to confirm the account type and the interest crediting schedule.
How central bank policy affects BDO rates
The Bangko Sentral ng Pilipinas (BSP), the Philippines' central bank, sets a policy rate that influences what commercial banks like BDO pay on deposits. When the BSP raises its policy rate, banks typically raise the rates they offer on savings accounts. When the BSP lowers its rate, savings rates usually fall.
However, banks do not move rates in lockstep with the central bank. BDO may lag behind by weeks or months, or it may raise rates by less than the full amount the BSP increased. This is because banks balance the cost of paying depositors against the revenue they earn from lending.
If you want to track when BDO rates might change, watch for announcements from the BSP about policy rate decisions. These are public and announced on a set schedule. After a BSP announcement, check BDO's website or call within a few weeks to see if the bank has adjusted its rates.
Comparing BDO rates to other Philippine banks
BDO is not the only bank offering savings accounts in the Philippines. Other major banks like Metrobank, PNB, and Unionbank offer competing rates. Smaller banks and digital banks (such as ING, Tonik, and Cocolife) sometimes offer higher rates than the big four banks, especially on money market accounts or high-balance products.
If you are shopping for the best rate, compare not just the interest percentage but also the minimum balance required, the frequency of interest crediting, and any fees that might apply. A 2% rate on an account with a PHP 500,000 minimum balance is not the same as a 1.5% rate on an account with a PHP 50,000 minimum.
Use BDO's official channels to get current rates, then compare them side by side with rates from other banks. Many banks publish their rates on their websites, though you may need to call to confirm rates for specific account types or balances.
What happens to your interest if you withdraw money early
BDO does not penalize you for withdrawing money from a regular savings account, and you keep all interest earned up to the date of withdrawal. Interest is calculated on your average daily balance, so if you withdraw before the end of the interest period, you still earn interest on the money you held.
Some BDO products, such as time deposits or fixed-rate savings products, do have early withdrawal penalties. If you withdraw before the maturity date, BDO may reduce or eliminate the interest you would have earned. Always check the terms of your specific account before withdrawing.
If you are unsure whether your account has early withdrawal restrictions, ask BDO directly or review your account agreement. The terms are usually printed on the account opening documents or available through online banking.
How to find BDO's current savings rates
BDO publishes interest rates on its official website under the savings accounts section. Rates are usually listed by account type and minimum balance tier. However, website rates can be outdated, so verify by calling BDO's customer service hotline or visiting a branch.
When you call or visit, have your account number ready if you are an existing customer, and be specific about which account type you are asking about. Ask for the current rate, the minimum balance required to earn that rate, and when interest is credited to your account.
If you are opening a new account, ask the bank representative to show you the rate in writing before you sign the account opening form. Rates can change, and having documentation of what you were promised helps if there is a dispute later.
Frequently Asked Questions
Does BDO charge fees that reduce my interest earnings?
BDO may charge monthly maintenance fees on some savings accounts, depending on your balance and account type. These fees reduce your net interest earnings. Ask BDO whether your account has a maintenance fee and whether it is waived if you maintain a minimum balance.
Can I earn interest on a BDO checking account?
Most BDO checking accounts do not earn interest. Checking accounts are designed for frequent transactions, not savings. If you want to earn interest, open a savings account instead. Some premium checking products may offer interest, but this is rare and usually requires a very high balance.
What is the difference between BDO's regular savings and money market accounts?
Money market accounts typically pay higher interest rates than regular savings accounts, but they may require a higher minimum balance and limit how often you can withdraw. Regular savings accounts are more flexible but pay less. Ask BDO which product fits your needs based on how often you need to access the money.
Will my BDO interest rate stay the same forever?
No. BDO can change rates at any time, usually in response to central bank policy changes or market conditions. BDO will notify you of rate changes, but the notification may come after the change takes effect. Check your statements regularly to see if your rate has changed.
How do I know if I am earning the highest rate BDO offers?
Call BDO or visit a branch and ask what rate you are currently earning and what the highest available rate is for your balance level. If you are earning less than the top rate for your balance tier, ask whether you can move to a higher-tier account or whether the bank will adjust your rate.