Digital banks are becoming more popular as people discover the convenience of online banking (no lines, quick transactions!). Aside from making your life easier, they’re also boosting your wallet. Unlike traditional banks that offer anywhere from around 1% to 2% interest per annum (p.a.) for your deposit accounts, digibanks offer higher rates, usually going over 3% and even up to 14%!

Looking to upgrade your savings faster? Here’s a list of some of the top digital banks currently offering the most competitive interest rates in the Philippines.

CIMB Bank PH is part of the CIMB Group, one of ASEAN’s leading banks. In partnership with GCash, CIMB offers digital banking services featuring high-interest savings accounts like GSave.

Interest rates: 2.6% p.a. for GSave (via GCash), up to 7% for MaxSave Next Gen Time Deposit

Cool features: 

• If you already have a GCash account, you can easily create a GSave account within the GCash app—no maintaining balance needed. 
• You can enjoy higher interest rates by opening a MaxSave time deposit account via the CIMB app. Choose from three different terms depending on your goals: 6 months at 6% p.a., 12 months at 6.5% p.a., and 24 months at 7% p.a. Take note that interest rates may change depending on prevailing conditions.

Getting started: Go to your GCash app and choose “GSave by CIMB” to start saving. You can also download the CIMB app for more banking options like MaxSave. Have one valid ID ready.

Available on: Apple App Store, Huawei App Gallery, and Google Play Store

GoTyme is a Gokongwei Fintech and a joint venture among entities of the Gokongwei group and multi-country digital bank Tyme. 

Interest rate: 4% p.a. for the Go Save Account

Cool features: 

• No minimum deposit required
• You can create up to five separate Go Save accounts and set goal amounts and time frames for each.
• You get a free debit card that you can print at any GoTyme kiosk.
• No withdrawal and deposit fees at Robinsons-affiliated stores.
• Earn Go Rewards points when you use your debit card, which can be converted into cash.

Getting started: Download the app on your device and create an account. Be sure to have your mobile number and a valid I.D. ready.

Available on: Apple App Store and Google Play Store

This digital bank is a wholly owned subsidiary of Union Bank of the Philippines (UnionBank).

Interest rates: 4% p.a. for UD Savings, up to 6.75% p.a. for UD Time Deposit

Cool features:

• No maintaining balance required
• Zero fees when receiving and sending to other UnionDigital Bank accounts
• Zero transfer fees to banks and e-wallets via PESONet

Getting started: Download the app and open an account with just one valid ID.

Available on: Apple App Store, and Huawei App Gallery

A digital product of Rizal Commercial Banking Corporation (RCBC), it’s the first multilingual financial inclusion app offered in Taglish and Cebuano.

Interest rates: 6.5% p.a. for a Full Basic Deposit Account and for a Community Basic Deposit Account. The latter is ideal for those who only have a secondary ID.

Cool features:

• Account holders get unlimited Telekonsulta or in-app medical consultation for only ₱50 a month or ₱150 quarterly, and Telemedicine where you can purchase medical products and services.
• Earn cashback when using the app to shop via Shopee, Lazada, and Zalora.

Getting started: Download the app and create an account. To be eligible to earn interest, you need to verify your account by submitting a valid ID.

Available on: Apple App Store and Google Play Store

A mobile banking application offered by SeaBank Philippines, Inc. (A Rural Bank), it’s part of Sea Limited (NYSE:SE), headquartered in Singapore.

Interest rate: 4.5% p.a. for Savings Account

Cool features:

• No maintaining balance required
• Interest earnings are credited daily at midnight.
• Earn cash when you refer your friends to the app—you can earn up to ₱1,000 monthly.
• Enjoy up to 15 free InstaPay and PESONet transfers weekly.

Getting started: Download the app and open an account with just one valid ID.

Available on: Apple App Store, Huawei App Gallery, and Google Play Store

It’s the first digital-only neobank (or “new-age” bank) in the Philippines to operate entirely online without any physical branches, offering deposit, payment, and card products. 

Interest rates: 4% p.a. for Solo Stash (or individual savings account), up to 4.5% for Group Stash (or a shared savings account with others), and 6% p.a. for Time Deposit

Cool features:

• No minimum deposit for Stashes
• The Group Stash account lets you achieve financial goals with your friends and family members. You must have a minimum of three members in one Group Stash.
• Create up to five Stashes and five Time Deposits on your Tonik account.
• No cash-out fees through InstaPay, PESONet, and MasterCard ATMs using the Tonik debit card

Getting Started: Download the app and create an account. The app will initiate a face scan and require you to scan a valid ID. 

Available on: Apple App Store and Google Play Store

UNO is Southeast Asia’s first full-spectrum digital bank licensed under the Bangko Sentral ng Pilipinas. It offers a partnership with GCash, enabling seamless integration and convenient financial services for its users. 

Interest rate: Up to 4.25% interest p.a. for #UNOready, available via GCash app or through the UNO Digital Bank app

Cool features: 

• No minimum balance required for #UNOready savings
• Interest is credited to your account daily.
• Account holders are eligible for free life insurance coverage worth ₱50,000 for a minimum monthly ADB of ₱10,000.
• Get exclusive access to #UNOearn and #UNOboost, time deposit products earning up to 6.5% p.a. interest.
  

Getting started: Click on GSave on your GCash app and choose #UNOready@GCash. Make sure that your account is fully verified to be eligible. 

Available on: Apple App Store and Google Play Store

With so many online banking options available, it’s now easier than ever to manage and grow your finances from wherever you are. Choose from these options or start your journey with GCash, which has partnered with top digital banks like CIMB and UNO Digital Bank for hassle-free banking. For seamless and secure transactions, make sure you have a reliable internet connection at home with a GFiber Postpaid or GFiber Prepaid. On your mobile device, choose a postpaid plan or prepaid promo for convenient mobile banking anywhere, anytime.