Skip to content

4 Reasons why GSave is the best savings account in 2019

GSave (a.k.a. GCash Save Money) is one of the new features introduced to selected GCash users last February 2019, and is now available for everyone this April. 
GCash is actually already its own wallet (it is what it’s made for – a digital wallet!), and we already have lots of options for banking – but what makes GSave the best savings account to store your money this 2019?

1.  Lowest Initial Deposit, 0.00 Maintaining Balance, and 0.00 Balance to Earn Interest

Usually, most savings accounts in the Philippines require an initial deposit of 5,000.00 PHP and maintaining balance of 2,000 PHP.  Go lower than your maintaining balance for more than 30 days, and you’ll be charged 300 pesos once every month as a ‘Below Maintaining Balance Charge’. Also, these accounts won’t earn interest if it is not over the specified ‘Balance to Earn Interest’. Most savings accounts go for 10,000.00 as their minimum balance to earn interest.

In case you need to withdraw all your money (which we hope you don’t), wouldn’t it be nice to be confident that you won’t get charged 300 pesos every month for being financially challenged?

Unlike other banks, GSave requires only 50 PHP initial deposit. Other banks require 10,000.00 PHP minimum balance to earn interest, while GSave let’s you earn interest with every peso you deposit, because the minimum balance to earn interest is 0.01 pesos. (1 cent)

2. No Bank Charges – AT ALL

Ever wanted to send money to a friend or relative, but hate the bank transfer fees? Say no more: GSave works with the GCash system; and currently, GCash transfers to and from major Philippine Banks are free of transfer charge (a.k.a. Convenience Fee).

Since GCash has a diverse portfolio of available banks to transfer to and from, it is probably the best way to transfer money around banks – whether you own both accounts, want to pay a friend, or a friend wants to pay you. You can also use GCash to GCash directly for money transfers and payments to online shops or physical stores with GCash QR.

3. Interest Rate is 3% p.a.*

Yep, you’ve read that right. GSave (Save Money) has an annual interest rate of 3%*, which basically means you earn 3% every year. In this way, you are not only parking your money in the bank, you are also making it grow, just like how you would if you invest this in stocks, VUL, or money market. The advantage? It isguaranteed; since this is a savings account and not an investment instrument with a horizon spanning from months to several years. Also, your money is liquid – which means you can deposit and/or withdraw anytime.

*Note that this is a special offer for all GSave account holders until December 31, 2019 only. GSave’s base Interest Rate of 2.30% will be effective January 1, 2020 onwards. Nonetheless, either of 3.00% or 2.30% is still better what all other banks in the Philippines offer! (only 0.00%-0.25% p.a.)

4. Opening an account is easy as A-B-C:

A:Register by clicking here: 
You’ll earn 50 pesos as a bonus for signing up using this link. GCash is open to all networks (You can use your Globe, Smart, Sun, Cherry Mobile, and ABS-CBN Mobile numbers to register)

B:Download the GCash App for iOS and Android. Follow the instructions to register for your GCash account.
Make sure to fully verify your account. A fully verified GCash Account is required to access GSave.

C:Once your GCash account has been fully verified, click “Show More”, and then under Financial Services, click “Save Money”. Now you can start up your GSave savings account! 
You should have 50 pesos in your GCash from using the link at Step A. You can also cash-in by connecting your bank account (BPI, RCBC, Unionbank) for free. You may also connect any Visa/Mastercard issued in the Philippines for free.

* I don’t recommend cashing-in via other methods because they may incur convenience fees of 5 pesos or more.

TL;DR: GSave is the best savings account in 2019 because: opening an account is only 50 pesos (or 0 pesos if you used this link), maintaining the account requires 0 balance (you can withdraw all your money and not worry about 300-peso below minimum balance charges), Interest Rate is 3% p.a. this year, and 2.3% next year onwards (which is definitely higher than 0.00-0.25% p.a. on other banks), and you can apply NOW.

What are you waiting for? Save Money now with GCash!

Published inMake More Money


  1. I am now not certain where you are getting your info,
    but great topic. I must spend a while learning more or figuring
    out more. Thank you for fantastic info I used to be looking for this information for my mission.

  2. Long time reader, first time commenter — so, thought I’d drop a comment..

    — and at the same time ask for a favor.

    Your wordpress site is very simplistic – hope you don’t mind me
    asking what theme you’re using? (and don’t mind if I steal it?

    I just launched my small businesses site –also built
    in wordpress like yours– but the theme slows (!) the site down quite a bit.

    In case you have a minute, you can find it by searching for “royal cbd” on Google (would appreciate any

    Keep up the good work– and take care of yourself during the coronavirus scare!


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.