With so many banks in the Philippines offering different account types, choosing the right one can be overwhelming. This guide helps you navigate the options and pick the best fit for your financial goals.
Types of Bank Accounts
- Checking Account: For daily transactions and bill payments
- Savings Account: For emergency funds and short-term savings
- Money Market Account: Higher interest rates for medium-term savings
- Time Deposit: Fixed interest rates for locked-in savings
Major Banks in the Philippines
Each bank offers unique advantages. Consider your priorities: interest rates, fees, branch availability, or digital convenience.
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