Last year, I published a list of Top Digital Savings Banks in the Philippines, featuring the most-used digital banks like CIMB Bank, Tonik, and Maya Bank. Unlike the traditional savings account that offer low interest rates, these digital banks are a great option for those who want to grow their savings.
Also check out the 5 Credit Cards with No Annual Fees in the Philippines
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Digital Bank Accounts with Highest Interest Rate
In this guide, we will discover what are the top digital banks that offer savings account with highest interest rates:
1. Maya Savings
Up to 14% interest rate p.a.
Rate cap: PHP 100,000
Promo period: Until October 31, 2023
Here's how it works:
3.5% p.a.
Open a Maya Savings account
5% p.a.
Spend a total of P250 via
Bills pay, Load, QR,
Checkout, or card
6% p.a.
Spend a total of ₱999
Special bonus interest rate
for Smart Postpaid
subscribers
7% p.a.
Spend a total of ₱1,000
via QR, checkout, or card
9% p.a.
Spend a total of ₱25,000
via QR, checkout, or card
11% p.a.
Spend a total of ₱35,000
via QR, checkout, or card
12% p.a.
Refer a friend with your
@username as the invite
code
14% p.a.
New User Exclusive:
Spend P500
2. CIMB
Up to 12% (new users), 6% (existing users)
Rate cap: PHP 200,000
Promo period: Until June 30, 2023
CIMB Bank currently offers a special interest rate of 12% p.a. for new customers who open an UpSave or GSave account. The offer is valid from May 1 to June 30, 2023.
To be eligible, you must not have any existing open, active, or blocked deposit accounts as of April 30, 2023. For the first two (2) months, you will earn 12% p.a. interest rate on your first PHP 200,000 Total Average Daily Balance (ADB). Any balance in excess of PHP 200,000 ADB will earn the regular base rate of 2.5% p.a. for UpSave and 2.6% p.a. for GSave account.
Existing customers who maintain a total average daily balance (ADB) of PHP 200,000 or more in their UpSave or GSave account can also avail a special interest rate offer of 6% p.a.
The offer is also valid from May 1 to June 30, 2023. To qualify, you must have an active UpSave or GSave account as of April 30, 2023 and maintain a total average daily balance of PHP 200,000 or more for the entire month of May 2023.
If you meet the requirements, you will earn 6% p.a. interest rate on your first PHP 200,000 ADB for the month of May 2023. Any balance in excess of PHP 200,000 ADB will earn the regular base rate of 2.5% p.a. for UpSave and 2.6% p.a. for GSave account.
3. RCBC DiskarTech
6.5% interest rate p.a.
Rate cap: PHP 49,700
Promo period: not specified
RCBC DiskarTech is a ‘financial super app’ that has no minimum balance requirement and zero maintaining balance. It offers a high interest rate of 6.5% p.a., which is significantly higher than the standard interest offered by other banks, which is usually less than 1% p.a.
The account has a maximum deposit limit of PHP 49,700.00. Any balance above PHP 49,700.01 will not earn interest, as the total of your savings and interest is only up to PHP 50,000.
RCBC DiskarTech accounts are considered Basic Deposit Accounts (BDA) of RCBC. Therefore, any money deposited in DiskarTech is also deposited in RCBC.
4. GOTyme Bank
5% interest rate p.a.
Rate cap: no limit
Promo period: not specified
GoTyme Bank offers a 5% p.a. interest rate through Go Save with the tagline, “No missions. No limits. Just simple, secure, and sustainable savings.”
Like Maya Goals, Go Save lets you create up to five different accounts with personalized goals and timelines. You can achieve your objectives at your own pace while earning a 5% p.a. interest rate on your savings.
Additionally, Go Save offers two automation tools to help you save money quickly: Auto-save, which allows you to automatically transfer any amount into your savings account on a daily, weekly, or monthly basis, and Save the Change, which rounds up each swipe of your GoTyme Bank Visa debit card to the nearest PHP 10 or PHP 100 and deposits that extra change into your Go Save account.
The account does not require a minimum or maximum deposit balance to earn interest, and you can earn 5% interest per year, paid monthly to your account.
5. SeaBank
4.5% interest rate p.a.
Rate cap: PHP 250,000
Promo period: not specified
SeaBank offers a high interest rate of up to 4.5% per annum, which is credited daily. This applies to users with account balances up to PHP 250,000. For account balances in excess of P250,000, a 3% interest rate p.a. shall apply.
There is no maintaining balance required, and no lock-in period. You can open an account for free with just one valid ID. Additionally, you can transfer funds from ShopeePay to SeaBank anytime for free.
6. Tonik
4.5% interest rate p.a. (Group Stash), 4% p.a. (Solo Stash)
Rate cap: no limit
Promo period: not specified
The default interest rate of a Tonik savings account is only 1% p.a., but it also offers ‘Stashes’ (similar to Maya Goals) with 4% p.a. for solo stash.
You can set up five stashes which you can then share through group stash with your friends or family that earns up to 4.5% p.a. with at least two participants plus the stash owner.
No pressure at all too as it requires no minimum amount to deposit.
ATTRACTIONS TO SEE IN MANILA
Klook.com7. UNO Digital Bank
Up to 4.25% interest rate p.a.
Rate cap: PHP 5,000,000
Promo period: not specified
UNO Digital Bank provides a maximum interest rate of 4.25% per annum. Accounts with an end-of-day balance below PHP 5,000.00 receive a base interest rate of 3.50% gross per annum. Accounts with an end-of-day balance ranging from PHP 5,000.00 to PHP 4,999,999.99 are eligible for a step-up interest rate of 4.25% gross per annum. Once the end-of-day balance reaches PHP 5,000,000.00 or more, the interest rate drops to 1.00% gross per annum.
Interest earned is credited to the account on a daily basis, and funding is simple with InstaPay, PESOnet, and Add Money Online at no cost. UNO also bundle this with a free life insurance coverage worth PHP 50,000.00.
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