Citing data from the Philippine Statistics Authority, BDO Unibank in a statement said Filipinos aged 60 and above account for nearly 10 percent of the population, with about 3.4 million seniors remaining in the labor force in 2025.
The bank said retirement is also changing for many older Filipinos, who may continue working, operate small businesses, travel, pursue hobbies or use their savings to support their families.
Against this backdrop, BDO is highlighting its Prime Savers account during Grandparents’ Month in September, positioning the product as an option for clients aged 60 and above who want to keep their savings secure and accessible.
Senior banking
BDO Prime Savers offers priority service at branches, preferential foreign exchange rates and online account opening, among other features aimed at making banking more convenient for older customers.
The bank said the account is designed for seniors with different financial priorities, whether they are managing day-to-day expenses, supporting family members or preserving savings accumulated over their working years.
Access to savings can become particularly important in retirement, when regular employment income may decline or stop even as seniors continue to spend on household needs, leisure and family obligations.
BDO said Prime Savers is intended to give older clients easier access to their money while providing banking services suited to their needs.
September offer
From Sept. 1 to 30, 2026, eligible clients who open a Prime Savers peso account with an initial deposit of at least P100,000 can receive a P500 SM Gift Pass.
The same incentive is available to those who open a Prime Savers Dollar account with at least $2,000.
Opening a qualified peso account can also give new and existing clients a chance to win hybrid vehicles and SM Gift Passes under BDO’s 50th anniversary raffle, which runs until December 2026.
Clients must open a qualified account, register online and maintain the required balance to earn raffle entries, the bank said.
Longer horizons
BDO said financial planning does not necessarily end when people retire, particularly as seniors pursue new activities or continue supporting their families.
The bank said Prime Savers is part of its effort to help older Filipinos protect the wealth they have accumulated while retaining convenient access to their funds as their financial needs and priorities evolve. —Ed: Corrie S. Narisma
