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Chinabank Initial Deposit, Minimum Maintaining Balance and Interest Rates

This is a list of Chinabank's different types of accounts and their corresponding initial deposit, maintaining balance, interest rates, charges for falling below maintaining balance and fee for early closing of account.
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Type of AccountInitial DepositMaintaining Balance or Minimum ADB RequirementFee/Charge for Falling Below Maintaining Balance (for at least 2 consecutive months)Interest RateFee for Closing Account within 90 Days from Date of Opening
Peso Savings Account
(Passbook and ATM card savings)
ChinaCheck Plus AccountP5,000P5,000P2000.125%P200
MoneyPlus Savings AccountP20,000P20,000P200Tiered based on amount and prevailing ratesP200
US Dollar Savings AccountUSD 500.00USD 500.00USD 5.000.250%USD 5.00
Euro Savings AccountEUR 1,000EUR 1,000EUR 5.000.500%EUR 5.00
Chinese Yuan Savings AccountCNY 2,500CNY 2,500CNY 30.000.080%CNY 30.00


1. ADB refers to Average Daily Balance or the sum of the daily end-of-day balances in the account for a month divided by the number of days in that month.

2. Euro (EUR) and Chinese Yuan (CNY) accounts are available at selected branches only. For CNY accounts, only Series 5 (1999) and 2005) CNY 50.00 and CNY 100.00 denominated bills shall be accepted as deposits. No coins are allowed for USD, EUR, CNY accounts.

3. Deposits on foreign currency accounts are subject to a holding/float period (6 banking days for cash, 15 banking days for USD/EUR checks/drafts, from date of deposit). No interest shall be earned during the holding/float period and withdrawals shall only be allowed after the holding/float period.

4. Peso Account interest earning is subject to 20% withholding tax. For residents, Foreign Currency Account interest earning is subject to 7.5% withholding tax.

5. Interest shall be credited at the end of each quarter (i.e., March 31, June 30, September 30, and December 31) for the above types of accounts except MoneyPlus Savings Acount. For MoneyPlus Savings Account, interest shall be credited on the last day of the month, and if there are more than two (2) withdrawals in a given month, the regular Peso Savings Account interest rate shall apply.

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"Chinabank Initial Deposit, Minimum Maintaining Balance and Interest Rates" was written by under the Banking category. It has been read 3652 times and generated 0 comments. The article was created on and updated on 28 May 2013 .
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