Why You Should Openn a Savings Account for Your Kids

As a mom, I’ve always believed in teaching my kids the value of saving—not just dropping coins into a piggy bank but truly understanding the importance of financial security. That’s why I made it a point to take it one step further: bringing them to the bank to open their own savings accounts.

It’s a different experience when kids get to walk into a bank, talk to the teller, and see their names on their very own passbooks. It makes the concept of saving real for them. And yes, all five of my boys now have their own savings accounts! It’s never too early to start building their financial future.

When we enter a new year, it’s natural to set goals for better health, work-life balance, and of course, finances. Cora A. Mallillin, Group Head and EVP for BDO Branch Banking Group, shares:

“BDO is ready to welcome clients who want to plan their saving and spending for the coming year. We have a spectrum of products and services for clients at every life stage, and our trained branch officers and staff are always ready to engage with our customers.”

Why I Chose BDO Junior Savers for My Kids

BDO made it so easy and affordable to start my kids’ financial journey. Here’s why I love it:

✅ Start with just P100 – No need for a big deposit to open an account!
✅ Earn interest starting at P2,000 balance – So their savings actually grow.
✅ Personalized passbook and debit card – Makes saving feel special for kids.
✅ Wide access – Use any BDO branch, ATM, online banking, and mobile app to manage the account.
✅ Automatic funding option – Parents can set up scheduled transfers through BDO Online or Easy Saver at a branch.

BDO’s Junior Savers Account is open to kids up to 12 years old—a crucial time when they start developing lifelong habits, including financial literacy.

“We made the product very affordable. The maintaining balance is only P100, and they can start earning interest when the funds reach P2,000 or higher,” explains Mallillin.

Another mom, Precylyn Castro, an OFW, also believes in the importance of saving for her child:

“I’m saving for myself and for my family as well. Just in case lang, it’s better na kung anuman ang mangyari sa akin, at least meron siyang sariling pera na in the future magagamit po niya. Para sa kanya iyon, pang school, just in case.”

This resonated with me. As moms, we want to secure our kids’ future, and one of the best ways is by helping them build financial security from a young age.

instilling good money habits

Saving for our kids isn’t just about preparing for their future—it’s about instilling good money habits early. And when they see their savings grow, they’ll feel empowered to dream bigger and manage their finances wisely as they grow older.

If you haven’t opened a savings account for your child yet, now’s the best time! Start their journey today with a BDO Junior Savers Account—a small step now that can make a huge difference in their future.

To learn more, visit www.bdo.com.ph or set an appointment with your nearest BDO branch. Let’s teach our kids the power of saving—one peso at a time!