A Comparative Analysis among Bank Interest Rates

in Calamba City of Laguna

Introduction

A bank is a monetary institution which is involved in borrowing and lending

money. Its yield consumer deposits in return for paying customers an annual interest
payment. It is also uses the majority of these deposits to give other customers for a
variety of finances. it play an important part in the economy for contribution of service
for people who wants to save their money and offering finance to industries who want
to invest and develop their company (Pettinger 2017). These finances and business
investment are important for assisting economic growth and also for personal savings.

A savings account is a credit account held at a bank or another monetary

institution where you can deposit or save a totality of money and get an uncertain
interest rate. It can also be the one of the conservative investment choice that helps to
accumulate your additional fund securely with the banks. Even saving accounts give
limited interest, it can come safely and gives major benefits in today’s world where
you’re allow to easily access to your money every time you need it. There are benefits
that you can gain in savings account like It can solve your purpose, easily access your
money, keeps your money safe, no risk involved, set automatic deposit, let you link to
your checking account, liquidity, convenience and you can earn interest.
 A Comparative Analysis among Bank Interest Rates
in Calamba City of Laguna

COMPARATIVE ANALYSIS

This comparative analysis is about comparing the interest rate of savings

banks in Calamba City, Laguna with products of Passbook, ATM, and Time Deposit. The
savings banks in Calamba City, Laguna that listed in this analysis are 1) Asia United Bank
(AUB), 2) Bank of Commerce, 3) Banco de Oro, 4) Bank of the Philippine Islands (BPI), 5)
Chinabank, 6) Development Bank of the Philippines (DBP) 7) EastWest Bank, 8) Landbank,
9) Metrobank, 10) Philippines Business Bank (PBB), 11) Planbank, 12) Philippine National
Bank (PNB), 13) Philippines Saving Bank (PSBANK), 14) Rizal Commercial Banking
Corporation (RCBC), 15) Security Bank, 16) Sterling Bank of Asia, 17) Tiaong Rural Bank
Inc. (TRBI), 18) UCPB, and 19) Union Bank of the Philippines.

In this analysis we have three products that we will compare and the following are;

1. Passbook

 First product is passbook, in this product, Planbank has the highest interest rate
among those banks here in Calamba City, Laguna.
 Planbank offers Passbook Savings Account with 0.75% interest rate and
Php 1000 minimum initial deposit.
 While the lowest interest rate in passbook are Landbank, Philippine National
Bank (PNB), Security Bank, and Union Bank of the Philippines.
 Landbank offers Regular Savings Passbook Account Individual with
0.10% interest rate.
 Philippine National Bank (PNB) offers PNB Passbook Savings with 0.10%
interest rate and Php 10,000 minimum initial deposit. They also offer SSS
Pensioners Passbook with 0.10% and Php 100 minimum initial deposit.
 Security bank offers Easy Savings Account with 0.10% interest rate and
Php 5,000 minimum initial deposit.
 Union Bank of the Philippines offer Personal Savings Account with 0.10%
interest rate.

2. ATM

 Second product is ATM, in this product, Sterling Bank of Asia and BPI Direct
Savings Direct Express Teller Savings in Bank of the Philippine Islands (BPI) has
the highest rate among those banks here in Calamba City, Laguna.
 Sterling Bank of Asia offers Solo Savings Account with 0.50% interest
rate.
 Bank of the Philippine Islands (BPI) offers BPI Direct Savings Direct
Express Teller Savings offer 0.50% interest rate and Php 500.
  While the lowest interest rate in ATM are Landbank, Philippine National bank
(PNB), Security Bank.
 Landbank offersATM Savings Account with 0.10% interest rate and Php
500 minimum initial deposit. They also offer PESO EASY (Earning Access
and Sure Yield) Check with ATM Access with 0.10% interest rate and Php
10, 000 minimum initial deposit.
 Philippine National bank (PNB) offers PNB Superteller ATM with 0.10%
interest rate and Php 3,000. The second one that they offer is SSS
Pensioners ATM and Passbook which has also 0.10% interest rate and
Php 100 minimum initial deposit. The last one that they offer is PNB
Debit MasterCard with 0.10% interest rate and Php 3,000 minimum
initial deposit.
 Security Bank offers Easy Savings Account with 0.25% interest rate and
php 5,000 minimum initial deposit. They also offer Easy Savings Account
with 0.10% and Php 3,000 minimum initial deposit.
3. Time Deposit

 Third product is time deposit, in this product, Solo Savings Plus in Sterling Bank
of Asia has the highest rate among those banks here in Calamba City, Laguna.
 Sterling Bank of Asia offers Solo Savings Plus in Sterling Bank with 2.5%
interest rate and Php 500,000 minimum initial deposit.
 While the lowest interest rate in time deposit is Metrobank.
 Metrobank offers Metrobank Peso Time Deposits with 0.50% interest
rate and Php 10,000 initial deposit.
 A Comparative Analysis among Bank Interest Rates
in Calamba City of Laguna

BANKS SAVINGS ACCOUNT MINIMUM INITIAL INTEREST RATE

DEPOSIT PER ANNUM
1. ASIA UNITED PASSBOOK
BANK (AUB)  Preferred Peso Savings - 0.125%
ATM
 Starter Savings - 0.125%
TIME DEPOSIT
 Preferred Peso Savings Plus PHP 100, 000 -
PASSBOOK
2. BANK OF  Personal Savings Account with Passbook PHP 5,000 0.125%
COMMERCE
ATM
 Personal Savings Account with ATM PHP 500 0.125%
3. BANCO DE ORO PASSBOOK
(BDO)  BDO Smart Checking Passbook Personal PHP 25, 000 0.25%

 BDO Peso Passbook Savings Account PHP 5,000 0.25%

ATM
 BDO Peso ATM PHP 2, 000 0.25%
TIME DEPOSIT
 Peso Time Deposit PHP 1,000 0.50%
4. BANK OF THE PASSBOOK
PHILIPPINE  BPI Passbook Savings PHP 10, 000 0.25%
ISLANDS (BPI)  BPI Maxi-Saver Savings with Passbook PHP 75, 000 0.25%
ATM
 BPI Pamana Savings Account with Life PHP 75, 000 0.25%
Insurance (Debit/ATM Card)
 BPI Maxi-Saver Savings with ATM PHP 50, 000 0.25%
 BPI Express Teller Savings PHP 500 0.25%
 BPI Direct Savings Direct Express Teller PHP 500 0.50%
Savings
TIME DEPOSIT
 Regular Time Deposit PHP 1,000 -
5. CHINABANK PASSBOOK
 Chinabank Passbook Savings PHP 5000 0.13%
ATM
 Chinabank ATM Savings PHP 2000 0.13%
TIME DEPOSIT
 Regular Time Deposit PHP 5,000 0.95%
6. DEVELOPMENT PASSBOOK
BANK OF THE  Savings Account with ATM or Passbook PHP 500 Varies weekly
PHILIPPINES (DBP) ATM
 Savings Account with ATM or Passbook PHP 500 Varies weekly
TIME DEPOSIT
 Regular Time Deposit PHP 10,000 -
7. EASTWEST PASSBOOK
BANK  EastWest Passbook Savings Account PHP 5,000 0.125%
ATM
 EastWest Passbook Savings with Debit PHP 10,000 0.125%
Card
 Savings with Debit Card PHP 2,000 0.125%
TIME DEPOSIT
 Time Deposit PHP 10,000 -
8. LANDBANK PASSBOOK
  Regular Savings Passbook Account PHP 10,000 0.10%
Individual
ATM
 ATM Savings Account PHP 500 0.10%
 PESO EASY (Earning Access and Sure PHP 10, 000 0.10%
Yield) Check with ATM Access
TIME DEPOSIT
 Regular Peso Time Deposit PHP 1,000 Varies
9. METROBANK PASSBOOK
 Metrobank SSS Pensioner Passbook PHP 100 0.25%
Savings Account
 Metrobank Passbook Savings Account PHP 10,000 0.25%
 Metrobank OFW Passbook Savings - 0.25%
Account
ATM
 Metrobank SSS Pensioner Debit/ATM PHP 100 0.25%
Card Savings Account
 Metrobank Debit/ATM Savings Account PHP 2,000 0.25%

 Metrobank OFW Debit/ATM Savings - 0.25%

Account
TIME DEPOSIT
 Metrobank Peso Time Deposits PHP 10,000 0.50%
10. PHILIPPINES PASSBOOK
BUSINESS BANK  Savings Account PHP 1,000 0.25%
(PBB) TIME DEPOSIT
 Time Deposit PHP 1,000 -
11. PLANBANK PASSBOOK
 Passbook Savings Account PHP 1,000 0.75%
ATM
 ATM Savings Account PHP 510 -
TIME DEPOSIT
 Certificate of Time Deposit PHP 5,000 -
12. PHILIPPINE PASSBOOK
NATIONAL BANK  PNB Passbook Savings PHP 10,000 0.10%
(PNB)  SSS Pensioners ATM and Passbook PHP 100 0.10%
ATM
 PNB Superteller ATM PHP 3,000 0.10%
 SSS Pensioners ATM and Passbook PHP 100 0.10%
 PNB Debit MasterCard PHP 3,000 0.10%
TIME DEPOSIT
 Regular Time Deposit PHP 10,000 -
13. PHILIPPINES TIME DEPOSIT
SAVINGS BANK  PSBank Peso Time Deposit PHP 10,000 0.75%
(PSBANK)
14. RIZAL PASSBOOK
COMMERCIAL  RCBC Savings Bank SSS Pensioner PHP 100 0.00%
BANKING Account with Passbook
CORPORATION ATM
(RCBC)  RCBC Savings Bank Basic Savings ATM PHP 3,000 0.15%
 RCBC Savings Bank SSS Pensioner PHP 100 0%
Account with ATM
TIME DEPOSIT
 Peso Time Deposit PHP 5,000 1.625%
15. SECURITY PASSBOOK AND ATM
BANK  Easy Savings Account PHP 5,000 0.10%
16. STERLING PASSBOOK AND ATM
BANK OF ASIA  Solo Savings Account - 0.50%
TIME DEPOSIT
  Prima Time Deposit PHP 1,000 2%
 Solo Savings Plus PHP 500,000 2.5%
 Prima Plus PHP 25,000 2%
17. TIAONG TIME DEPOSIT
RURAL BANK INC.  Peso Time Deposit PHP 10,000 1.75%
(TRBI)
18. UCPB PASSBOOK
 UCPB U-remit Passbook Savings Account PHP 100 0.25%

 UCPB Regular Peso Savings Account PHP 10,000 0.25%

ATM
 UCPB U-remit ATM Savings Account - 0.25%
19. UNION BANK PASSBOOK
OF THE  Personal Savings Account - 0.10%
PHILIPPINES
 RECOMMENDATION

We all know that we save our money to the savings account for us to use these typical
accounts to save for our future. So we choose the savings account that is best for our
situation and compare interest rates and fees.
From the drawn conclusion. These are the following recommendations:
1. Bankers, are those who invest their money on the bank which they trust for them to
raise their money.
2. Family, are the ones who benefits from the family member who deposits their money
to the bank.
3. We recommend this study to the other researchers who would want to know the
interests, deposits and products in Calamba City, Laguna.

REFERENCES

What is Bank and it’s purposed

https://www.answers.com/Q/What_is_the_purpose_of_banks
Date retrieve: September 1, 2019

Pettinger (2017), Purposed of banks

https://www.economicshelp.org/blog/glossary/banks/
Date retrieve: September 1, 2019

BEST SAVINGS ACCOUNTS FROM THE TOP BANKS IN THE PHILIPPINES

https://grit.ph/savings-account/?fbclid=IwAR2TDcG9uYnx-
IZk1RY0z4iBaP0QxDlUji9Zz83_BzAaPrqvCboRJbBsPE4
Date retrieve: August 17, 2019