BDO backs program promoting money saving habit among kids

MANILA, Philippines — In support of the Kiddie Account Program (KAP) jointly promoted by the Bangko Sentral ng Pilipinas (BSP) and the Bank Marketing Association of the Philippines (BMAP), BDO Unibank has offered its Junior Savers Account for children 12 years and below.

The BDO Junior Savers Account requires only an initial deposit of P100 in which kids below 12 years old will get a passbook to monitor their savings and start earning interest upon reaching a P2,000 deposit balance. Children between seven to 12 years old may request for a personalized BDO EMV Debit Card upon reaching a deposit balance of P2,000.

Junior Savers also gives option to help the child save like the use of Easy Saver or the online banking account, where parents can transfer money from existing BDO accounts to the child’s Junior Savers Account.  

To open a BDO Junior Savers Account under the child’s name, parents just need to go the nearest BDO branch and present copies (including the original copy for verification) of any of the following: passport; school ID signed by the principal or school head; or birth certificate issued by the local civil registry or the Philippine Statistics Authority.

Junior Savers is BDO’s support to the KAP which program has been designed to encourage children below 12 years old to develop the habit of saving money regularly through easy access to the participating banks’ deposit facility.