Whether you want to save up some funds in your personal account or to have an alternative means to pay for your purchases, getting a regular savings account is truly something every working adult needs to do in this day and age.
The United Coconut Planter’s Bank (UCPB) is one of the largest universal banks in the Philippines. When it was first established back in 1963, the then small commercial bank (with only four branches at the time) primarily catered to coconut farmers in the Philippines. But as time went by, the UCPB has expanded into a variety of market, and has developed new products that will benefit all Filipinos from all walks of life. If you find it convenient and accessible to get a savings account with UCPB, continue to read…
Applying for a UCPB Savings Account
Opening a UCPB Savings Account entitles account holders to the following benefits and services:
- An initial deposit of Php 2,000. This amount of money is also considered the minimum amount of funds to keep your account active.
- For your account to earn interest, a required minimum monthly average daily balance (ADB) of Php 10,000 is required.
- An annual interest rate of 0.25%
- Manage your account and monitor your transaction history with UCPB’s online statement of accounts.
- Set up your savings account into a payment account through UCPB’s Automatic Transfer Arrangements (ATA).
- Apply for back-to-back loans with your savings account balance as collateral
- Funds of up to Php 500,000 are covered by the Philippine Deposit Insurance Corporation (PDIC).
Note: You will have to provide the original and at least one (1) copy (front and back) of the following documents to apply for a UCPB savings account:
- Either of the following government-issued IDs with photograph:
- Valid passport
- Your driver’s license along with the official receipt
- If neither of the above primary IDs are available, any two (2) of the following secondary documents /IDs may be used instead:
- NBI/Police Clearance
- PRC ID
- Tax Identification Number (TIN)
- Valid SSS/GSIS ID with picture
- Company ID bearing the applicant’s photo
- Document license or permit to carry firearms
- The initial deposit of Php 2,000.
- Head over to the nearest UCPB branch within your area and bring all the necessary requirements listed above as well as the required initial deposit for opening a UCPB savings account.
- Inform the bank officer at the new accounts desk that you would like to apply for a new savings account. Get a queue number (where necessary) and wait for your turn.
- Once accommodated, you will be given an application packet with several forms that you need to completely fill out. Be sure to go through all the information that you have specified in the forms to weed out any discrepancies in your application versus your documents.
- Pay the required initial deposit for opening a regular UCPB savings account. Upon payment, the bank officer will hand you a deposit slip. You need this for the collection of your ATM card and account documents on the date as instructed by the bank officer.