There are many reasons you’ll need to set aside money, such as for everyday expenses, long-term savings, or investment opportunities. In any of these scenarios, you’ll find saving a more fruitful exercise if you choose a reliable account for your deposits. Indeed, building a secure financial future starts with the right banking choices. The right savings product doesn’t just keep your funds safe—it also helps you manage your finances efficiently and even grow your money over time.

EastWest is a trusted financial partner in the Philippines that offers a wide range of deposit products designed to fit different financial needs. We pride ourselves on providing competitive interest rates and flexible account options, and we’re deeply committed to delivering exceptional customer service to every client. Our goal at EastWest is to make banking more accessible and rewarding for individuals and businesses alike.

This guide will walk you through EastWest deposit products and help you determine which one aligns best with your financial goals.

Savings Accounts

It’s never too early—or too late—to develop smart saving habits. A savings account is one of the most essential financial tools for this, giving you a secure place to store your money while allowing it to earn interest over time. EastWest provides a range of savings options tailored to different needs, as follows:

Checking Accounts

For those who handle frequent payments, a checking account can be more convenient than a savings account. Checking accounts allow you to issue checks, automate payments, and manage large transactions, making this type of account a preferred option for professionals, entrepreneurs, and businesses. You’ll find the following checking account options available at EastWest:

Tiered Deposits

Looking to maximize your savings? A tiered deposit account can help you earn higher interest rates as your balance grows. Unlike a standard savings account that offers a fixed interest rate, EastWest’s SuperSaver solution rewards you for maintaining a larger balance. It’s a great option for individuals who want to make their money work harder. This account also provides a bonus interest rate of 3.1% per annum if you don’t make any withdrawals during the month, in the interest of encouraging long-term savings growth.

A SuperSaver account is best suited for individuals who can maintain a higher balance and want to maximize their interest earnings while keeping their funds relatively accessible. This type of account allows you to earn more from savings that you don’t need to withdraw as frequently. 

Time Deposits

A time deposit gives you a secure way to grow your savings at a fixed interest rate that’s much higher compared to traditional savings accounts. The tradeoff for this competitive rate is that time deposits require you to lock in your money for a set period in exchange for better returns. At EastWest, our Peso Time Deposit allows you to deposit a fixed amount for a term ranging from 30 days to 5 years. Longer terms and larger deposit amounts unlock even higher interest rates. A minimum initial deposit of ₱10,000 is required.

A Peso Time Deposit is ideal if you have funds you don’t need immediate access to and want to earn higher returns compared to a standard savings account. It’s a great way to save for short- to medium-term financial goals, such as education, travel, or a major investment. If stability and guaranteed earnings are your priorities, a time deposit serves as a low-risk savings solution.

Foreign Currency Deposits

Do you travel frequently, earn in foreign currency, or conduct international transactions? Then you’ll definitely need an easy way to manage money in multiple currencies. A foreign currency deposit account allows you to do just that while also providing flexibility and protection against exchange rate fluctuations. At EastWest, our foreign currency deposit options are the following:

• US Dollar Savings – A standard US dollar-denominated savings account for individuals who need to hold and transact in USD.
• US Dollar SuperSaver – A tiered deposit account that offers higher interest rates for larger USD balances.
• Other Foreign Currency Savings – Accounts available in Chinese Yuan, Euro, Australian Dollar, Singapore Dollar, Japanese Yen, Hong Kong Dollar, British Pound, and New Zealand Dollar.

Choosing the right deposit account is an important step toward managing your finances effectively and reaching your savings goals. Now that you know more about the features of each EastWest deposit product, you should find it easier to determine the one that best aligns with your financial needs. Ready to take the next step in managing your money wisely? Open an EastWest deposit account today and start building your savings with trusted products tailored to your goals.