List of PH Digital Banks with Highest Interest Rates 2024

List of PH Digital Banks with Highest Interest Rates (July 2024)

A digital bank is an ideal alternative for those who want to try to save money besides a traditional physical bank. Add to that, Filipinos nowadays use online banking because of its convenience and accessibility. Further, with the increase in internet usage in the country (mobile data, pocket WiFis, and the like) 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.

Digital banks offer many advantages to customers. They can do all their banking operations (like fund transfer and bills payment) online using their smartphones, avoiding long lines at a physical bank branch. Moreover, most digital banks offer higher interest rates compared to traditional banks. Mobile banking app users can also access their savings accounts and make transactions anytime. Most importantly, these digital banks and their products/promos are regulated by the Bangko Sentral ng Pilipinas (BSP) and are insured by the Philippine Deposit Insurance Corporation (PDIC).

Some of the widely used digital banks in the Philippines are Maya Bank (powered by e-wallet Maya), CIMB Bank (which features GSave in GCash), Tonik (a Singapore-based digital bank), UNObank, GOtyme (owned by Gokongwei Group), Diskartech by RCBC, Netbank (a Romblon-based rural bank), Komo by Eastwest, SeaBank (part of SeaMoney that owns the online shopping app Shopee and game firm Garena), BanKo by BPI, and OwnBank (a mobile banking service of OwnBank, a rural bank in Cavite City).

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 (July 2024)

Here's the list of top digital banks in the Philippines that offer the best interest rates as of July 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 PH

CIMB UpSave/GSave - up to 15% p.a. (capped at Php 100K)
Starts at 3.5% p.a.
+ 4.5% when you grow ADB by at least Php 50K
+ 7% when you complete at least Php 50K Virtual card transaction

#1. Maya Savings

Maya Savings - up to 15% p.a. (capped at Php 100K) for existing users
+ Starts at 3.5% p.a.
+ 6.5% when you make Php 35K qualified payments
+ 1% when you use Maya Credit for at least Php 3K
+ 2% when you refer someone via @username
+ 2% when you buy load Php 500
Maya Savings - up to 14% p.a. (capped at Php 100K) for new users
+ Starts at 3.5% p.a.
+ 8.5% when you make Php 500 qualified payments
+ 2% when you refer someone via @username

#2. OwnBank (Own It)

OwnBank Own It - up to 12% p.a. (capped at Php 100K)
+ Starts at 6% p.a. no cap
+ 6% for new users (18 years old and above) with referral code ZYSAFL

#3. OwnBank (1-Month Time Deposit)

OwnBank 1-Month Time Deposit - 6.5% p.a.
No cap
Referral code ZYSAFL

#4. RCBC DiskarTech

DiskarTech Savings Account - 6.5% p.a. (capped at Php 49.7K)

#5. Netbank

Netbank Mobile
+ 6% p.a. (no cap) for existing users under Digital Banks PH Tipid Hacks campaign; or
+ 5% p.a. for new users (starting May 1, 2024) who will use the referral code AAAA0269 and choose Digital Banks PH during account opening.

The Rest

SeaBank PH
GoTyme Bank
Tonik Digital Bank
BPI Direct BanKo

Top Philippine Digital Banks - Interest Rates Ranking - July 2024

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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