How to Apply for an RCBC Savings Account

When it comes to top universal banks in the Philippines, there’s one name that isn’t as popular as the other big banks in the country, but has certainly expanded its scope and reach in the retail and thrift banking services in the Philippines in just a little over two decades of operation. If you would like to grow your savings for future and emergency use (which you should always prepare for), keep reading below.

RCBC or Rizal Commercial Banking Corporation is among one of the country’s top universal banks in terms of its assets and clientele reach. RCBC Savings Bank is a proud member of the Yuchengco Group of Companies (YGC), an organization comprised of key players in all three aspects of Integrated Financial Services (banking, insurance, and investment). With RCBC’s hefty selection of banking products and seasoned approach to banking services, many clients of diverse financial backgrounds have shifted to do banking with RCBC.

By Judgefloro – Own work, CC BY-SA 4.0

Applying for an RCBC Savings Account

RCBC has been in the banking industry for over a century, and the company is committed to provide its customers with the highest level of expertise and knowledge. People who trust their financial institution and have it support them because of their skilled and helpful staff make them a fantastic option.

Is RCBC the best bank for you?

There are numerous banks available, and you must ensure that you select the one that is best suited to your needs. So, what makes RCBC so special?

First and foremost, they are a Filipino-owned bank. This company is proud of their past and wishes to contribute to the growth of their country’s economy. They provide goods such as RCBC Savings Deposit Products. You can earn income on these bank accounts while also helping to support the economy by keeping your money in the Philippines.

Another advantage of using RCBC is its user-friendly online banking website. You can access your accounts at any time and from any location, regardless of where you are or what device you are using! You can even pay your payments online with only a few clicks!

Finally, they deliver outstanding customer service at all levels. Whether it’s a problem with your account or a question about one of their services, RCBC will respond immediately and with answers geared particularly to YOU!

What are the various RCBC Deposit Products (Savings)?

RCBC offers several deposit products to meet your needs:

Savings Account – A savings account is a terrific way to earn interest on your funds, and RCBC makes them available at all of its branches around the country. You can initiate the process online, or you can visit any of our locations in person.

Fixed Deposit (FD): A fixed deposit (FD) is a special kind of savings account that allows you to invest your money for a predetermined amount of time while still earning interest on it.

Time Deposit – A time deposit is a type of fixed deposit in which you are required to keep your money in the bank for a certain minimum length of time before you are allowed to withdraw it again; in most cases, this time period must be at least three months long.

Cash Management Account (CMA): You can take advantage of all the perks associated with an FD by investing in a CMA, but you won’t have to commit all of your liquid assets to the investment for at least a year.

Current Account – A certificate of deposit (CD) is an additional option for earning interest on your money. It is a type of savings account that is tied to a specific period of time, which can range anywhere from three months to five years in length. The higher the interest rate, the longer the term that is being used.

Money Market Accounts: Money market accounts are very similar to checking accounts, with the exception that they typically offer a larger interest rate. Your funds are always available to you, although the liquidity of the account is lower than that of a traditional checking account. People who want their money to grow but also need quick access to cash are perfect candidates for money market accounts (also known as “money market mutual funds”).

Features and Benefits of an RCBC Savings Account

RCBC Savings Account is a good place to save and invest your money. Here are some of the benefits and features:

3% interest on deposits

The RCBC Savings Account pays a three percent (3%) interest rate on all deposits if the amount is retained in the account for at least one year. When you make larger deposits into your account, you will accrue more interest. If you maintain a balance of P50,000 or more at all times, you are eligible for additional perks.

No service charge for withdrawals and transfers

When you withdraw money from your RCBC Savings Account, you will not be charged a fee for the service provided by the bank as long as you use the bank’s internet banking services or automated teller machines. There are no fees involved with transferring funds from one RCBC Bank account to another. Transfers sent to places outside the bank’s network, on the other hand, incur a cost.

Limitless withdrawals by cash or cheque

You can withdraw any amount from your RCBC Savings Account as long as the total for the day does not exceed P500,000 (P1 million per month). If you want to withdraw more than this amount, write a letter to the management of RCB Bank requesting an overdraft, and the request will be completed within two working days of receipt.

Who are Eligible to Apply for an RCBC Savings Account?

RCBC Savings is intended for all types of people, whether you are a student, a business owner, or a retiree. The bank is highly accommodating in terms of the prerequisites for creating an RCBC Savings Account.

Who are Eligible to Apply?

The following are the basic requirements that you need to fulfill before getting approved:

  • You must be at least 18 years old.
  • You must be a Filipino citizen or resident alien with at least 5 years of residency in the Philippines.
  • Your savings account should be maintained by an individual or married couple who owns it together and not by a corporation or an organization.
  • You must be able to show proof of residence such as a valid passport, driver’s license, utility bill (water/electricity) or voter’s ID card from any part of the country. If you do not have any photo ID then you will need two people who can attest having known you for at least one year and also give their names as references on your application form.

What are the Requirements for Opening an RCBC Savings Account?

You can open an RCBC Savings Account online or at any RCBC branch. You will need to provide a valid ID, such as a passport or driver’s license. If you do not have a valid ID, you may still open an account by presenting other documents that prove your identity.

Additionally, you will need to provide your proof of address and proof of employment (if applicable).

How to open an RCBC savings account

Opening an RCBC savings account is a simple process that can be completed in just a few minutes. There are a few things you will need to have on hand to open the account, including your personal information and a valid ID. The process is quick and easy, and you can start earning interest on your savings right away.


Step 1: Visit the RCBC Touch page at, choose a Product, and tick the box indicating that you accept the Terms and Conditions.

Step 2: Fill out the Online Form.

Step 3: Nominate your user ID to enroll in RCBC Online Banking

Step 4: Submit your government-issued ID and complete the ID verification process.

Step 5: Submit your duly accomplished application.

In person

Step 1. Visit the RCBC branch that is geographically closest to you in your area. Check that you have everything that’s required of you.

Step 2. Inform the teller at the bank that you intend to open a savings account for yourself. It’s possible you’ll find it in the bank’s section for opening new accounts.

Step 3. You can request a copy of the application from the teller. Before submitting it, ensure that all of the details have been filled out and that you have thoroughly checked them. When you are finished, hand it over to the teller along with all of the conditions that were outlined earlier.

Step 4. The teller at the bank will review all of the information before encoding it into their system. When everything is finished, they will inform you and give you the facts. Additionally, they will give you an ATM card as well as a passbook.

In some cases, they will advise you to come back within 3 or 5 business days to get the ATM card or passbook.

Frequently Asked Questions

1. Is there a product fee?

When you open an RCBC Savings Account, you won’t have to worry about paying any associated fees.

2. How much can I deposit?

You are allowed to make deposits worth up to two hundred times the value of your initial deposit.

3. How long will it take to open an account and how do I get my ATM card?

Your account will be immediately accessible for usage once you have deposited at least P 500 through a teller. Within the next three business days, you should be able to anticipate receiving your ATM and debit cards.

4. What is the advantage of an RCBC Savings Account?

  • The process of opening an account takes no more than five minutes.
  • There are no minimum balances or monthly fees associated with this account.
  • In just ten minutes, you can open a savings account and receive an ATM card.

Tips on Opening an RCBC Savings Account Online:

1. Research about your Account Type

Before you open your first bank account, you should educate yourself on the many types of accounts. Do you prefer a checking or a savings account? You could enjoy a little bit of everything. Whatever account you choose, make sure to research the advantages and disadvantages of the others. The law requires you to obtain financial information.

2. Learn how to keep your account up to date.

Several banks set limits on how much money you can deposit. You may not have direct access to the funds for a few days while the deposit is being processed. You must learn more about this! A “minimum balance” requirement is one form of limitation that many banks employ. If your account balance falls below that level, you may be fined or denied access to your debit card or ATM.

3. Inquire about the bank’s fees

Here are a few things to think about before creating a bank account. Some banks have hidden fees that are not readily apparent. ATM fees, bank costs, overdraft fees, fees for maintaining a minimum balance, fees for maintaining a minimum usage or activity, and monthly or annual account fees are examples. Make sure you’re familiar with these expenses so you’re not surprised when you receive your statement.

4. Don’t settle for the first bank you come across when opening an account.

You shouldn’t feel obligated to open your first account with the first bank that comes to mind. You should go to several banks. If you stroll around to each bank, you can collect information from them. Examine the bank that a member of your family, a close acquaintance, or someone you know has been using for some time. If you were referred to the bank by a long-term client, the bank will almost probably provide you with further incentives.

5. Look for digital platforms

Online banking is currently one of the most useful things you can do with technology. Most financial institutions will give you it, but some may refuse. Make it a point to learn everything you can about this instrument as soon as possible. Internet banking includes several useful functions, such as the ability to pay bills and transfer money across accounts. When people have hectic days and schedules, the ability to do their banking online can be really beneficial. You can manage your money even if you can’t go to the bank every day.

6. Weigh the Benefits

Here are some pointers to help you open your first bank account. Make it a point to learn about the advantages of a financial institution. Some banks provide free checking and savings accounts, as well as decreased ATM and debit card costs, free checks, and paperless invoicing. Before you make a decision, find out what the bank you wish to work with has to offer.

7. Take charge of your account

One of the most aggravating aspects of money is not having control over a bank account. Remember that as a young adult, you should be able to care for yourself. If you do the math, you will learn how to balance your chequebook. Bring your cash register and, if you have one, a current debit card. Always be aware of the amount of money in your account and ensure that you have complete control over it.

Video: How to Open an RCBC Savings Account Online

Here’s a little video that will walk you through the process of opening an online RCBC savings account. This is a basic and straightforward process for everyone, but especially for Filipinos working overseas who wish to save money for themselves and their families. The video also discusses the many types of savings accounts available. This article should have given you a clearer sense of what to anticipate from this savings account and how to take use of its features and perks.


It is simple and quick to open an RCBC savings account, and it has numerous advantages. It is simple to open an RCBC savings account, and you may access it online or via a mobile app. Among other features, RCBC provides a high interest rate, no monthly maintenance fees, and a free ATM card.

When looking for the best savings account, start looking in the proper locations. Even if banks near your home appear to be a decent choice, if they do not offer the best interest rates, they are probably not the ideal choice for you. Of course, you should consider all of your options to ensure that you are getting the finest value. Learn more about what interest rates to look for in different types of savings accounts and how to compare them to pick the best savings account for your requirements in this article.

RCBC offers a wonderful savings account for anyone who desire to save money. The account offers a competitive interest rate and has no monthly fees. RCBC also has a mobile app that allows you to transfer money and check the balance of your account. Overall, the RCBC Savings Account is a wonderful option for anyone looking for a straightforward and quick way to save money.

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Contact Information

RCBC Plaza – Corporate Office

Address: Yuchengco Tower 1, RCBC Plaza,6819 Ayala Avenue corner Sen. Gil Puyat Avenue, Makati City Telephone Number: +632 8877 RCBC (8877-7222)
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