Filipinos use online banking because of its convenience and accessibility. With the increase in internet usage in the country and the government's financial inclusion initiatives, digital banking services allow people to conduct various financial transactions through mobile apps and websites.
Thanks to fintech startups and partnerships between traditional banks and technology companies, Filipino citizens now enjoy seamless digital payment solutions, instant fund transfers, and personalized financial management tools, enhancing their banking experience.
Customers gain many advantages from digital banks. They can do all their banking online using their smartphones, avoiding long lines at a physical bank branch. Moreover, most digital banks offer higher interest rates compared to traditional banks. Users can also access their savings accounts and make transactions 24/7. Most importantly, these digital banks and their products are regulated by the Bangko Sentral ng Pilipinas (BSP) and are insured by the Philippine Deposit Insurance Corporation (PDIC).
If you're itching to know the best digital banks in the Philippines with the highest interest rates in 2024, we've compiled them in a list, which you can check out below.
List of PH Digital Banks with Highest Interest Rates (April 2024)
Here's the list of top digital banks in the Philippines that offer the best interest rates as of April 2024.
The banks' products are listed below, along with their base interest rates (p.a.), promo interest rates, and other details, such as whether they support free fund transfers and daily crediting. For more information on their promos, you may visit the respective bank's official website.
#1. CIMB Bank
- Interest rate: Up to 15% p.a. (GSave and UpSave)
- Spend Mission is required
- Capped at P200K
#2. Maya
- Interest rate: Up to 14% p.a. (Maya Savings - for new users)
- Spend Mission is required
- Capped at P100K
#3. Uno Digital Bank
- Interest rate: Up to 12.75% p.a. (#UNOReady)
- Spend Mission is required
- Capped at P100K
#4. OwnBank
- Interest rate: Up to 12% p.a. (OwnIt account; use DBPH referral code ZYSAFL)
- No Spend Mission
- Capped at P100K
#5. DiskarTech
- Interest rate: 6.5% p.a. (Fully verified DiskarTech BDA)
- No Spend Mission
- Capped at P49.7K
#6. Netbank Mobile
- Interest rate: 6% p.a. (Savings account; choose 'DIGITAL BANKS PH TIPID HACKS' campaign)
- No Spend Mission
- No cap
#7. BanKo by BPI
- Interest rate: 5% p.a. (Todo Savings)
- No Spend Mission
- Starts at P5K, capped at P1M
#8. Tonik
- Interest rate: Up to 4.5% p.a. (Group Stash)
- No Spend Mission
- No cap
#9. SeaBank
- Interest rate: Up to 4.5% p.a.
- No Spend Mission
- Capped at P350K
#10. GoTyme Bank
- Interest rate: Up to 4% p.a. (GoSave)
- No Spend Mission
- No cap
#11. Maya
- Interest rate: 4% p.a. (Personal Goal)
- No Spend Mission
- Capped at P1M
If you also want to know which digital banks are suitable for savings or daily transactions (fund transfers to other banks, bills payment, buy load), check out below.
Suited for savings: Maya (Personal Savings), OwnBank, UnionDigital Bank, UNO Digital Bank, Maya (Personal Goal), Tonik, BanKo by BPI, and Komo by EastWest.
Suited for daily transactions: iSave (Maybank Philippines), Netbank Mobile, DiskarTech, CIMB Bank, SeaBank, and GoTyme Bank.
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What can you say about the best digital banks in the Philippines with the highest interest rates? You can leave your comment below.
Credits: Digital Banks PH Facebook group
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