Solo Basic Savings Account - Online | Sterling Bank of Asia

Solo Basic Savings Account - Online

Uncomplicated and convenient banking for all Filipinos

Call +632 8721-6000 or +632 8672-6300

With the Solo Basic Savings Account, anyone can enjoy the convenience and security of growing hard-earned savings in the bank. By just presenting one valid ID and depositing a minimum of Php100, anybody can now have their own Solo Basic Savings Account.

The bank account can progress to a regular Solo Savings Account if the balance reaches Php50,000. In addition, account holders can easily monitor their transactions through their own passbook, ATM and by enrolling to Sterling Bank Online.

Opening Balance Requirement

Php100.00

Minimum ADB Requirement

None

Interest Earning Balance

Php2,000.00

Interest Rate (gross p.a)

0.5% P.A.

Maximum Balance

Php50,000.00; if balance exceeds Php50,000.00, account will be converted to a regular Solo Savings Account (subject to maintaining balance of Php300.00)

Maintenance Fee

NONE

Closure of Account

Account will be closed if not funded with a minimum of Php100.00 within 30 banking days upon account opening

Account Access

ATM Only; should have a balance of Php100.00 upon card application; no passbook

Eligibility

1. Filipino Citizen
2. At least 18 years old
3. With NO bank account yet (unserved and underserved individuals*)

*Unserved are individuals who do not use banks or credit unions for their financial transactions. Underserved are individuals who are provided with inadequate financial services due to inability to pay or have barriers to access these services.

How to open an account online?

a. Fill-out the Online Form

b. Upload selfie/ ID and signature

c. Approval on the next banking days , within banking hours

For Solo Basic Savings Account opened via online -- valid ID, selfie and e-signature are required to be submitted to facilitate the application. It is also mandatory to fund the account with at least Php100.00 within 30 days from approval to avoid account closure.

List of Acceptable IDs

1. Passport

2. Driver's license

3. National Bureau of Investigation (NBI) Clearance

4. Police Clearance

5. Postal ID

6. Voter’s ID

7. Taxpayer Identification Number (TIN) ID

8. Barangay Certification

9. Government Service Insurance System (GSIS) e-Card/Unified Multi-Purpose ID (UMID)

10. Social Security System (SSS) ID

11. Senior Citizen ID Card

12. Government Office and GOCC ID (e.g. Armed forces of the Philippines (AFP), Home Development Mutual Fund (HDMF ID))

13. ID issued by National Council on Disability Affairs (NCDA)

14. Department of Social Welfare and Development (DSWD) Certification

15. Company IDs

16. School ID signed by the principal or head of the institution (For Filipino Students only)

17. PhilHealth Health Insurance Card ng Bayan

18. Birth Certificate issued by the Philippine Statistics Authority (PSA)

19. Philippine Identification (PhilSys ID/Philippine ID (PhilID)/National ID)

20. Other IDs

Tricycle Operators and Drivers' Association (TODA) ID
Village ID/Certification or Barangay Clearance/Certification signed by the Barangay Chairman/Captain with the following details:
- Client’s full name, including alias/ nickname used as known to the household, community/barangay
- Complete residence address (number, street, interior)
- Number of months/years of residency in the community/barangay or employment
- Employer’s complete name (for clients working as household helpers, store helpers, sales clerks/attendants, crew)
- Business name and address including stall numbers (for those clients with unregistered business such as sari-sari stores, market and street vendors, and business name of employer of the store/business helpers, sales clerks/attendants, crew)

Updated as of August 23, 2022

Solo Basic Savings Account Comparison

	Account Opening at the Branch	Account Opening through the Website
Eligibility	With NO bank accounts yet (unserved and underserved Filipino individuals). Unserved are individuals who do not use banks or credit unions for their financial transactions. Underserved are individuals who are provided with inadequate financial services due to inability to pay or have barriers to access these services.
Application	Customer needs to visit the Branch to open an account.	Customer just needs to perform the following: 1. Fill out the online account opening form. 2. Upload/submit a selfie with the ID, front/back view of the ID, and a photo of the signature.
Opening Balance Requirement	Php100	Php100; It is also mandatory to fund the account with at least Php100 within 30 days from approval to avoid account closure.
Automatic Account Closure	None	If the Account Balance is not Php100 within 30 days from account opening.
Required Minimum ADB Requirement (not get charged by the below minimum ADB Service Charge)	None	None
Maximum Balance	Php50,000; If, at any point in time, the account balance exceeds Php50,000, the account will automatically be converted to a Solo Savings Account (subject to Php5,000.00 minimum ADB, below minimum ADB service charge, and dormancy fee)
Interest Earning Balance	Php2,000	Php2,000
Interest Rate	0.50%	0.50%
Maintenance Fee	None	None
Dormancy Fee	None	None
Account Access	Passbook ATM card POS terminal Sterling Bank Online BancNet Online	ATM card (Subject to the requirement that the account must have at least a balance of Php100 upon card application.) POS terminal Sterling Bank Online BancNet Online
	Book an Appointment	Open an Account

Deposit Rates

Effective as of November 19, 2019

Open a Solo Basic Savings Account

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