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(Feb. 2025) List of Digital Banks With High Interest Rates in the Philippines

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Updated Feb. 4, 2025

This post list down digital banks as those institutions that function as digital banks even if they are not officially categorized as Digital Banks by the central bank.

In 2020, then Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla approved recognizing โ€œdigital bankโ€ as a new bank category in the Philippines. 

What is a Digital Bank in the Philippines

As defined by the BSP, a digital bank largely offers financial products and services that are processed end-to-end through a digital platform and/or electronic channels with minimal to no reliance on physical touchpoints. It could:

  • grant loans
  • accept savings and time deposits
  • accept foreign currency deposits
  • invest in readily marketable bonds and other debt securities, commercial papers and accounts receivable
  • act as a correspondent for other financial institutions
  • act as collection agent;
  • issue electronic money products
  • issue credit cards 
  • buy and sell foreign exchange
  • present, market, sell and service microinsurance products 

According to him, as the central bank looks to reach 50% of retail transactions shifting to digital, digital banks will play a role in promoting market efficiencies and offering more opportunities to Filipinos in terms of financial services. 

And after months of application and tons of preparation, the monetary agency has approved six digital banks, namely GOtyme, UnionDigital, Overseas Filipino Bank, Tonik Bank, UNObank, and Maya Bank.

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Fast forward to October 2022, and the BSP gave the green light for these six digital banks to start their full operations. 

However, digital banks have begun to be associated with financial institutions with high interest rates. As such, we include them in this article.

Advantages of Digital Banks Than Traditional Banks? 

One of the advantages of having a digital bank account is the fact that digital banks offer higher interest rates compared to traditional banks. 

In an interview with popular Youtuber, food vlogger, and cook Ninong Ry, UnionDigial Bank Chief Executive Ubeh Henry Aguda shared that digital banks normally offer higher rates because they have lower operating costs than traditional banks. 

Thus, instead of maintaining physical branches, paying rent, and hiring more staff, they will just lend the savings to their customers. 

Moreover, he shared that their target market includes those who cannot go and transact with traditional banks during office hours, like market vendors and those who need to transact 24/7. 

This led some individuals to store their funds in a digital bank rather than the traditional one. In fact, Statistica reported that a 2022 survey on consumer payment behavior showed that about 80% of Filipinos expressed their interest in trying digital banking, specially for paying bills and fund transfers. 

The BSP also revealed that digital banks already reached 1.4 million transactions, amounting to โ‚ฑ8.45 billion, for the first six months of 2022. 

More than a year after the central bankโ€™s green light, let us take a look at the interest rates of the six digital banks and other financial institutions that offer online banking services. 

GOtyme

GOtyme is an affiliate of the Gokongwei Group and Singapore-based fintech firm Tyme Group.

Interest Rate– 4% per annum for Go Save Account
– Up to 5.0% per annum for USD Time Deposit
Features– Free debit card powered by Visa and BancNet.
– No withdrawal fees in Robinson-affiliated stores and at select Robinsons Retail Brands. 
– Free bank transfers to select banks. (Limited monthly or weekly transactions)
– Free deposit from select banks. (Limited monthly or weekly transactions)
– Free OTC deposit from partner stores (2x per month only, 0.5% on succeeding transactions)
Requirements for Opening an Account– Standard Philippine-issued ID
– Mobile number
– Personal details
February 2025 PromosGoTyme x The Grid: Enjoy 25% discount when using GoTyme Debit Card to pay on all stalls at The Grid Food Market, Power Plant Mall, Rockwell, Makati City. Until March 31, 2025.
GoTyme x The Public Eatery: Enjoy 25% discount when using GoTyme Debit Card to pay on The Public Eatery, 4th Floor, Robinsons Magnolia, Quezon City. Until March 31, 2025.
Ready, Jet Set, GoTyme it: Earn up to 200 Go Rewards points when using the GoTyme Visa Debit Card abroad. Until March 31, 2025.
GoTyme x Barcino: Enjoy 20% discount when using the GoTyme Debit Card to pay at any Barcino Wine and Restaurant branch. Until April 30, 2025.
GoTyme x Public Eatery: Dine and drink and pay using GoTyme Visa debit card to get 25% off at The Public Eatery, 4th Floor, Robinsons Magnolia, Quezon City. Until May 31, 2025.
50 + 50 Referral Rewards: Earn 50 GoRewards points when a referred friend buys at least โ‚ฑ50 worth of goods using their GoTyme Debit Card. Until June 30, 2025.
GoTyme x Agoda: Enjoy up to 8% off hotel bookings made on Agoda platform using GoTyme Debit Card. Until December 31, 2025. 
Points to Cash Redemption: Get a boost on Go Rewards points of up to three times when you using the Visa debit card in participating Go Rewards partner stores. For every five Go Rewards points, users can redeem โ‚ฑ4.
Websitehttps://www.gotyme.com.ph/
Facebook pagehttps://www.facebook.com/GoTymeBank
Available onApple App Store and Google Play Store
Contact Details#GO8888 (#468888)
https://www.gotyme.com.ph/contact-us/

UnionDigital

UnionDigital is the digital banking arm of the Union Bank of the Philippines. 

Interest Rate– Up to 4% per annum for Savings Accounts
– Up to 4.5% per annum for UD Time Deposit Account
FeaturesNo transfer fees for PESONet transactions to other banks and e-wallets.
Requirements for Opening an Account– One valid ID
– Mobile number
– Personal details
February 2025 PromosFree InstaPay Promo: UnionDigital Bank account holders are entitled to free outward InstaPay transfers. Until March 31, 2025. 
UD Loans iPhone 16 Giveaway: One of those who successfully apply and avail of a UD Loan during the promo period will win a brand-new Apple iPhone 16 128GB. Until March 31, 2025.
Websitehttps://uniondigitalbank.io/en
Facebook Pagehttps://www.facebook.com/UnionDigitalBank
Available onApple App Store, Huawei App Gallery, and Google Play Store
Contact Detailshelp@uniondigitalbank.io
(+632)8555-5207

Overseas Filipino Bank

Overseas Filipino Bank is a digital-only subsidiary of Land Bank of the Philippines.

Interest Rate– 0.05% per annum for Regular Debit Card, Visa Debit Card, and Visa Debit Beneficiary Card accounts with at least โ‚ฑ500 balance.
Features– No transfer fees to Land Bank of the Philippines accounts. 
– No transaction fees for bills payment
– Free ATM withdrawal fee to Land Bank ATMs
Requirements for opening an account– One valid ID
– Selfie verification 
– Email address
– Personal details
February 2025 Promos– None
Websitehttps://ofbank.com.ph/
Facebook pagehttps://www.facebook.com/OFBank
Available onApple App Store and Google Play Store
Contact Details(+632) 8-405-7000
customer.care@mail.ofbank.com.ph

Tonik 

Tonik is a Singapore-based neo bank.

Interest Rate– 1% per annum for regular account
– 4% per annum for solo stash
– Up to 4.5% per annum for group stash
– Up to 6% per annum for Time Deposit Accounts
Features– No cash-out fees in InstaPay, PESONet, MasterCard ATMs, and local bank accounts.
– Free InstaPay and PESONet cash-in fees on select bank accounts
– Free virtual debit card  (โ‚ฑ300 for physical debit card)
Requirements for Opening an Account– One valid ID
– Selfie verification
– Personal details
February 2025 Promos Luv Stash: Invite a sweetheart, a friend, or a family member, deposit โ‚ฑ14 each, and start earning 5% interest rate p.a. for up to three months. Until February 28, 2025.
Websitehttps://tonikbank.com/
Facebook pagehttps://www.facebook.com/TonikBankPH
Available onApple App Store and Google Play Store
Contact Detailscustomercare@tonikbank.com
+63 2 5322 2645

UNObank

UNObank, a Singapore-based digital bank

Interest Rate– Up to 4% per annum in the UNOReady Account
– Up to 5.25% per annum in the UNOBoost Time Deposit Account
– Up to 5.5% per annum in the UNOEarn Time Deposit Account

Note: GCashโ€™s GSave can also be linked to the UNO App and enjoy the same interest rates.

Features– Free Mastercard virtual card
– No transaction fees for over 7,500 partner outlets.
– No transfer fee via InstaPay
– Free deposit fee from BPI and UnionBank
Requirements for opening an account– One valid ID
– Selfie verification
– Personal details
February 2025 Promo– None
Websitehttps://uno.bank/
Available onApple App Store and Google Play Store
Contact DetailsCustomerHappiness@uno.bank
(02) 8811 8866
+63 919 0599866

Maya Bank

Maya Bank is a digital bank powered by e-wallet giant Maya. Check out our main page for Maya: Maya Interest Rate 2024 | Promotions | Overview

Interest Rate– 4% per annum in the Personal Goals Accounts 
– Up to 15% per annum in the Savings Accounts (The Base Rate is at 3.5% per annum)
– Up to 2.5% per annum in the Business Deposit Accounts
– Up to 5.75% per annum in Time Deposit Accounts
Features– Free cash-in fee from Maya Wallet to Maya Bank.
– Free transfer fees via PESONet and InstaPay on qualified transactions.
– Free Maya Card for a minimum deposit of โ‚ฑ250 and a spend of at least โ‚ฑ500.
Requirements for opening an account– One valid ID
– Mobile number
– Selfie verification
– Personal details
February 2025 PromosMaya Easy Credit Cashback: Get up to โ‚ฑ50 cashback when using Maya Easy Credit. February 9, 2025. 
Maya x Easy Credit: Get up to โ‚ฑ250 off on FlowerStore.ph when using Maya and the code โ€œMAYALOVE.โ€ Until February 14, 2025.
Maya x FlowerStore.ph: Get up to โ‚ฑ5,000 cashback with Maya Easy Credit when buying load, paying via QR, and checking out online with a minimum spend of โ‚ฑ1,000. Until February 9, 2025.
Personal Goals: Open up to five new Personal Goal accounts to earn up to 6% p.a. Until February 28, 2025.
– Maya Savings: Spend accumulative โ‚ฑ3,000 using Maya easy credit and get up to 2% interest p.a. on Maya savings. Until February 28, 2025.
Maya x Landers: Spend an accumulative โ‚ฑ40,000 using your Landers Credit Card and get 2% interest p.a. on Maya savings. Until February 28, 2025.
Maya x Bacolod Good Rice: Get 5% off with no minimum spend on Bacolod Good Rice when using Maya QR for payment. Until February 28, 2025.
Maya x Falcon Marketing: Get 5% off with no minimum spend on Falcon Marketing when using Maya QR for payment. Until February 28, 2025.
Maya x F1 Hotel Manila: Festive Buffet: Get a 50% off on children aged seven to 12 years old to the full-price buffet rate, while free for six years old below, when using Maya QR for payment. Until February 28, 2025.
Maya x F1 Hotel Manila: Saturday Lunch Buffet: Get a 50% off on children aged seven to 12 years old to the full-price buffet rate, while free for six years old and below, when using Maya QR for payment. Until March 31, 2025.
Maya x F1 Hotel Manila: Prosecco and Cheese Night: Get a 40% off on children aged seven to 12 years old to the full-price buffet rate, while free for six years old below, when using Maya QR for payment. Until February 28, 2025.
Maya x F1 Hotel Manila: Valentineโ€™s Buffet: Get a 40% off on children aged seven to 12 years old to the full-price buffet rate, while free for six years old below, when using Maya QR for payment. Until February 14, 2025.
Maya x F1 Hotel Manila: Steak and Wine Ala Carte: Get a 35% off on Churasco Rib Eye Steak with free glass of House Red Wine, an additional 20% discount for an upgrade to a wine bottle, when using Maya QR for payment. Until February 28, 2025.
Maya x F1 Hotel Manila: Proseco and Cheese Night: Get a 40% off on children aged seven to 12 years old to the full-price buffet rate, while free for six years old below, when using Maya QR for payment. Until February 28, 2025.
Maya x F1 Hotel Manila: Unlimited KBBQ with Pool Pass: Earn one coupon, valid for a one day pool access per person, and one coupon is valid for Unlimited Bbq – chicken, pork, beef for two hours, inclusive of side dishes and condiments, when using Maya QR for payment. Until February 28, 2025.
Maya x Creative Cuisine Group: Brique Modern Kitchen: Get a free Pitcher Drink for every Brique Board purchase when using Maya QR for payment. Until February 28, 2025.
Maya x Creative Cuisine Group: Ettas Cucina + Bar: Get a free Pitcher Drink for a minimum spend of โ‚ฑ1,000 when using Maya QR for payment. Until February 28, 2025.
Maya x Creative Cuisine Group: Loca Kitchen + Cafรฉ: Get a free Pitcher Drink for a minimum spend of โ‚ฑ1,000 when using Maya QR for payment. Until February 28, 2025.
Maya x Creative Cuisine Group: Chikaan Sa Cebu: Get 50% off on Crab Relleno for a minimum spend of โ‚ฑ1,500 when using Maya QR for payment. Until February 28, 2025.
Maya x Creative Cuisine Group: Parola Seaview Restaurant: Get free regular mixed meat Pork Sisig for a minimum spend of โ‚ฑ1,500 when using Maya QR for payment. Until February 28, 2025.
Maya x Creative Cuisine Group: Kubu Rastaurant + Bar: Get free regular mixed meat Budae Jjigae, Seafood Jjampong or Kimchi Soup. for a minimum spend of โ‚ฑ2,000 when using Maya QR for payment. Until February 28, 2025.
Maya x Creative Cuisine Group: Dain Restaurant: Get 20% off on Chow Pat Chin, Buttered Chicken, Bam-i Guisado, or Mixed Meat Bill for a minimum spend of โ‚ฑ1,000 when using Maya QR for payment. Until February 28, 2025.
Maya x Creative Cuisine Group: Foodlab: Get 20% off on Chow Pat Chin, Buttered Chicken, Bam-i Guisado, or Mixed Meat Bill for a minimum spend of โ‚ฑ1,000 when using Maya QR for payment. Until February 28, 2025.
Maya x Creative Cuisine Group: Sutukil By The Bay: Get 20% off on Mixed Bill or Premium Mix Kawa for a minimum spend of โ‚ฑ1,000 when using Maya QR for payment. Until February 28, 2025.
Maya x Creative Cuisine Group: Big Daddy: Get 20% off on Any Burger or Any Wraps for a minimum spend of โ‚ฑ1,500 when using Maya QR for payment. Until February 28, 2025.
Maya x Retailers – Refer and Earn: Refer a suki to Maya and get โ‚ฑ100 for every successful referral. Until February 28, 2025.
Maya x Smart: Receive a 10% cashback on the following Smart load purchases on Maya from Fridays to Sundays: PowerAll99, SayaAll99, and AllData99. Until March 30, 2025. 
Maya Easy Credit Referral: Get a chance to get Maya Easy Credit approval when entering a unique referral code in the missions page. Until March 31, 2025. 
Maya x PayPal: Enjoy free transfers from PayPal to Maya and earn โ‚ฑ250 cashback from the withdrawal fee with minimum cash-in of โ‚ฑ15,000. Until March 31, 2025. 
Maya x Landers New Credit Card: Apply and get approved for Landers Credit Card, spend accumulated โ‚ฑ5,000, and receive a โ‚ฑ500 welcome reward. Until March 31, 2025.
Maya x Landers Cashback Everywhere Credit Card: Apply and get approved for Landers Cashback Everywhere Credit Card, apply for the credit card in the Maya app and get approved, and get โ‚ฑ700 cashback. Until March 31, 2025.
Maya x Philippine Airlines: Use Maya to spend, save, and borrow for a chance to be one of the five winners of Mabuhay Miles from Philippine Airlines. Until March 31, 2025.
Maya x Samsung: Apply for Maya Personal Loan in the Maya app and be approved for a minimum loan amount of โ‚ฑ30,000, purchase any of the select devices at participating Samsung Exclusive stores via Scan Maya QR and Maya Debit Card, and save up to โ‚ฑ6,000. Until March 31, 2025.
Maya x Zuri Hotels & Resorts: Iloilo: Use code โ€œMYPERKSโ€ and get 45% off on Deluxe, Superior, Premium, and Junior Suites and 40% off on Family Room, Family Suite, and Zuri Suite when using Maya Card for payment. Until October 30, 2025.
Maya x Zuri Hotels & Resorts: Coron: Use code โ€œMYPERKSโ€ and get 30% off on Superior, Deluxe, Premier, and King Suites, 25% off on Family Rooms and Premier Family Rooms, and 10% discount on Spa when using Maya Card for payment. Until October 30, 2025.
Maya x DMCI Homes: Get a 1% exclusive discount for property unit purchases on DCIM Homes using Maya QR for payment. Until October 31, 2025.
Maya Lucky Draw Raffle: Join the promo in the โ€œRaffle Promoโ€ section and maintain a balance on Maya Wallet and be one of the monthly winners of either a win a trip to Japan, an Iphone 16 Pro Max, or an Apple Airpods Pro. Until December 31, 2025.
Maya x DCIM Homes: Get a 1% exclusive discount for property unit purchases on DCIM Homes using Maya QR for payment. Until October 31, 2025.
Websitehttps://www.mayabank.ph/
Facebook pagehttps://www.facebook.com/mayaiseverything
Available onApple App Store, Huawei App Gallery, and Google Play Store
Contact Detailsbusiness-support@mayabank.ph

CIMB / GSave / Upsave

GSave is the in-app savings account on fintech app GCash, powered by CIMB Bank Philippines. CIMB also has its own promotions.

Interest Rate– Up to 15% (please check the promo section below)
– 2.5% per annum on UpSave account.
– 2.6% per annum on GSave account.
– Up to 7.5% per annum for Time Deposit accounts with holdings of โ‚ฑ10,000.
– Up to 6.0% per annum for MaxSave Time Deposit accounts of at least โ‚ฑ5,000.
Features– Free virtual debit card
– No transaction fee from CIMB to other banks
– Get insurance protection up to โ‚ฑ250,000 by just maintaining a minimum Average Daily Balance of โ‚ฑ5,000 on GSave.
Requirements for Opening an Account– On GSave, the GCash user must have a verified account. 
– For UpSave: Mobile number, one valid ID, and personal details.
February 2025 PromosNew Year, New Save: Increase the interest rate on UpSave and GSave accounts by up to 15% by simply doing the tasks listed (each task corresponds to additional interest). Until February 28, 2025. 
Virtual Card Cashback: Spend a total cumulative amount of at least โ‚ฑ500 per month using a CIMB Virtual Debit Card or CIMB Virtual REVI Card for purchases on the Lazada mobile app. and get a cashback of up to โ‚ฑ300. Until March 31, 2025.
Websitehttps://www.cimbbank.com.ph/en/digital-banking/our-products/gsave.html
Facebook pagehttps://www.facebook.com/CIMBBankPH
Available onApple App Store, Huawei App Gallery, and Google Play Store
Contact Detailshttps://www.cimbbank.com.ph/en/help-and-support/get-help.html
+632-8-924-2462

RCBCโ€™s Diskartech

Diskartech is the multilingual financial inclusion mobile app of Rizal Commercial Banking Corporation (RCBC).

Interest Rate– 4.88% per annum for Full Basic Deposit Accounts
– 4.88% per annum for Community Basic Deposit Accounts
FeaturesHas Telekonsulta and Telemedicineโ€”in-app medical consultation and drug store with cheaper rates.
Requirements for Opening an Account– One valid ID
– Mobile number
– Selfie verification
– Personal details
February 2025 Promos– Login-g Meron and Pe5oback Promo: Complete Tasks and Missions through identified actions or transactions on the DiskarTech mobile application during the Promo Period, including log-in, buy load, and pay bills. March 31, 2025. 
Websitehttps://diskartech.ph/
Facebook pagehttps://www.facebook.com/DiskarTech
Available onApple App Store, and Google Play Store
Contact Detailshelp@diskartech.ph

Netbank

Netbank is the mobile banking app of Netbank Inc., a Romblon-based rural bank.

Interest Rate– 4% per annum for Basic Deposit Accounts
– 5.5% per annum on other Basic Deposit Accounts qualified for a past promo.
– 7% per annum for Time Deposits Accounts
Features – Free InstaPay and PESOnet transaction fees
– Daily interest credit
Requirements for Opening an Account– One valid ID
– Mobile number
– Personal details
February 2025 Promos– None
Websitehttps://www.netbank.ph/netbank-mobile
Facebook pagehttps://www.facebook.com/netbankmobile
Available onApple App Store and Google Play Store
Contact Detailssupport@netbank.ph
cs_mobile@netbank.ph

Komo by Eastwest

Komo is the digital banking service by EastWest Bank.

Interest Rate2.5% per annum 
Features– No withdrawal fees at any EastWest Bank ATMs.
– Four free monthly withdrawal fees for BancNet ATMs.
Requirements for Opening an Account– One valid ID
– Selfie verification
– Mobile number
– Personal details
February 2025 PromosKomo x McDonaldโ€™s: Apply for a teachersโ€™ salary loan via the  Komo app and get a free Burger McDo. Until February 28, 2025.
Websitehttps://www.komo.ph/
Facebook pagehttps://www.facebook.com/KomoPH
Available onApple App Store, Huawei App Gallery, and Google Play Store
Contact Detailssupport@komo.ph
(02) 8888-1777

SeaBank

SeaBank is the mobile banking application of rural bank SeaBank Philippines. It is accepted as a payment option in Shopee Pay feature.

Interest RateUp to 4.00% per annum. (Starting January 9, 2025)
Features– Free transfer fee to SeaBank accounts
– 15 free transfers via InstaPay and PESONet
– Daily crediting of interest
– Up to โ‚ฑ1,000 cashback monthly every time the user pays using their SeaBank Debit Card
– Up to 3% discount on load
Requiremets for opening an account– One valid ID
– Selfie verification
– Personal details
February 2025 promos– Keep in Touch with Friends: Get up to 3% off when using the SeaBank App to buy load.
Pasok Pera Pasko: Get up to โ‚ฑ50 cashback when using credit cards to pay bills on the SeaBank app. 
Cashback: Enjoy a 0.30% cash back when using the SeaBank on QRPh payments, Shopee checkout, and SeaBank debit card.
Refer and Earn: Earn points and up to โ‚ฑ1,000 when referring a new user successfully. 
Debit Card: Earn up to 0.30% cashback when paying transactions using the Seabank debit card.
 
Note: Promos with no date yet can be confirmed on the SeaBank app on its Terms and Conditions.
Websitehttps://www.seabank.ph/
Facebook pagehttps://www.facebook.com/SeaBankPhilippines/?brand_redir=142455011279904
Available onApple App Store, Huawei App Gallery, and Google Play Store
Contact Details(+632) 8891 7927
1800-1-110-2957

BPIโ€™s BanKo 

BPI Direct BanKo is a product of a merger between two thrift bank units of the Bank of the Philippines Islandsโ€”BPI Direct Savings Bank, BPIโ€™s internet bank, and BPI BanKo, BPIโ€™s mobile savings bank. It is now considered as the financial inclusion arm of BPI.

Interest Rate– 0.0625% per annum on PondoKo Savings Accounts with a minimum 
– 5% per annum for TODO Savings Accounts
Features– Free transfer fee to BPI accounts.
– No transfer fee to GCash and other bank via Instapay.
– 2% cash back for load payments.
Requirements for Opening an Account– One valid ID
– Mobile number
– Personal details
February 2025 PromosNone
Websitehttps://www.banko.com.ph/
Facebook Pagehttps://www.facebook.com/magbankona
Available onApple App Store and Google Play Store
Contact Details(02) 8819-6728

OwnBank

OwnBank is the mobile banking service of OwnBank, a rural bank in Cavite City, Philippines. 

Interest Rate– Up to 6% per annum on Savings Accounts
– 7.5% per annum for Time Deposit Accounts. 
– 8% per annum for Time Deposit Accounts (first seven days for new users).
FeaturesFree transfer fee to other banks
Requirements for Opening an Account– One valid ID
– Mobile number
– Personal details
February 2025 Promos None
Websitehttps://www.ownbank.com/
Facebook Pagehttps://www.facebook.com/magbankona
Available onApple App Store and Google Play Store
Contact Details+63 (02) 7793 0999

This article is published on BitPinas: List of Digital Banks With High Interest Rates in the Philippines

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