As financial technology continues to grow in the Philippines, more Filipinos are turning to digital banks as a smarter way to grow their savings. As a financial management graduate, I have long understood that the interest earned from traditional savings accounts is often very small — sometimes so minimal that you hardly feel your money grow, especially in the short to medium term.

At the same time, inflation continues to rise, making it even more important to save strategically. Simply keeping money in a low-interest account may not be enough to preserve its value or help you build a strong emergency fund for the future.

This is where digital banks come in. Unlike traditional banks, digital banks operate primarily through mobile apps and often offer higher interest rates, lower fees, and more convenient access to financial services. Because of these advantages, many Filipinos are now exploring digital banking as part of their personal finance strategy.

In this blog, I will share the best digital banks in the Philippines and compare them not only in terms of interest rates but also the perks they offer. (I will make a comparison table at the end to summarize)

Quick Notes on Financial Safety

All the digital banks listed in this blog are licensed by the Bangko Sentral ng Pilipinas (BSP) and insured by the Philippine Deposit Insurance Corporation (PDIC) up to ₱500,000.

This means their operations are legal, regulated, and monitored by the Philippine government. In simple terms, if something unexpected happens — such as the bank closing or facing financial problems — your deposits are protected up to ₱500,000 per person, per bank.

For example, if you have ₱100,000 saved in a digital bank and the bank shuts down, PDIC will help ensure that you can still recover your money within the insured limit.

Also, this blog is for informational and educational purposes only and should not be considered financial advice. Where you choose to put your money will always depend on your personal financial goals, risk tolerance, and individual circumstances.

#1. Maya Savings

When you put money into Maya Savings, your balance earns interest daily. The base rate is around 3.5% per year, which is already higher than what most traditional savings accounts offer. What makes Maya stand out is its boosted interest feature, where your savings can earn up to 15% per year if you complete certain in-app activities such as paying bills, using the Maya debit card, sending money, or maintaining a higher balance. Since these promotional rates may change from time to time, it is important to check the app regularly for updated mechanics.

For those who prefer more predictable returns, Maya Bank offers time deposit options, where you lock in your money for a fixed period in exchange for higher guaranteed interest.

Personally, I use Maya to pay some of my bills. By spending at least ₱200 using Maya services, I can receive an additional 1.5% interest boost that renews monthly for savings balances of up to ₱100,000. Because of this, I am usually able to maintain an effective rate of around 5% per year, which is already significant. This is especially noticeable when compared to traditional bank savings accounts that typically offer only around 0.15% to 1.25% annually, while inflation in recent years has been around 2–3%.

Use this link to create a Maya account now: https://www.maya.ph/app/registration?invite=@karlbryan123 

#2. Maribank (Formerly SeaBank)

MariBank currently offers 3.25% per year on balances up to ₱1,000,000 and 3.75% per year on balances above ₱1,000,000 (gross, per annum). Interest is credited daily at midnight, allowing your savings to compound gradually over time, even if you are not actively using the account.

Another strong advantage is the free fund transfers. MariBank provides up to 15 free InstaPay and PESONet transfers every week, which can result in significant savings, especially if you regularly send money for bills or family support. For someone like me who stays abroad and needs to move funds often, this feature alone makes a big difference compared to banks that charge transfer fees.

MariBank also offers a debit card with 1% cashback on purchases, capped at ₱3,000 per month. Opening an account is straightforward and can be done in just a few minutes through the app using one valid ID.

One small personal downside is that the account is linked closely with the Shopee ecosystem, so it requires discipline to avoid using your savings impulsively for online shopping. Still, for steady interest earnings and free transactions, that’s a big plus factor for me. 

Get PHP 150.00 now by signing up with MariBank using my referral code: KB127331

https://maribank.ph/c/earnfreemoney?referralCode=KB127331

#3 UNO Digital Bank (via GCash)

UNO Digital Bank offers a savings product called #UNOready@GCash, where your funds earn interest that is credited daily. As of the latest available rates, savings balances earn around 3.25% per year for amounts below ₱5,000 and 3.75% per year for balances from ₱5,000 up to ₱4,999,999.99. There is no minimum balance requirement and no holding period, so you can deposit or withdraw anytime while still earning interest. 

UNO also provides time deposit options within the GCash app. The #UNOearn@GCash product offers up to 5.00% per year for a 24-month tenure and around 4.75% for 12 months, with interest paid out monthly. Another option is #UNOboost@GCash, which offers higher fixed rates depending on the lock-in period, ranging from about 4.00% for shorter terms (3–5 months) up to around 5.75% per year for a 12-month placement, with payout at maturity.

A strong advantage of UNO Digital Bank is that it is fully integrated within the GCash ecosystem, making deposits and withdrawals very convenient. You can move money between your GCash wallet and UNO savings or time deposits with just a few taps. For users like me who already rely heavily on GCash for daily transactions, bill payment, or sending money, this setup makes saving more seamless and accessible.

#4 Gotyme Bank

GoTyme Bank currently offers 3.0% per year gross interest on its savings account without a maximum deposit limit. Interest is credited monthly, allowing your balance to grow steadily over time. The savings account is flexible, so you can deposit or withdraw funds anytime while continuing to earn interest on your remaining balance.

One of GoTyme’s strongest advantages is its rewards ecosystem. When you use the GoTyme debit card for purchases at partner merchants such as Robinsons stores, you can earn Go Rewards points, which can later be converted into shopping credits or discounts. This makes the account useful not only for saving but also for everyday spending.

Another convenient feature is the free debit card printing at GoTyme kiosks located in selected malls and partner locations. I got mine in Robinsons Mall. So quick! 

#5 Tonik

Tonik offers a main savings account that earns around 1% per year gross interest, credited monthly. To earn higher returns, many users place their funds in Tonik Stashes, a goal-based savings feature that currently earns around 4% per year gross interest. Stashes allow you to organise your money into different savings goals such as emergency funds, travel, or tuition, while still being able to deposit or withdraw anytime.

For savers who want fixed and potentially higher returns, Tonik also offers time deposit options. Interest rates vary depending on the chosen tenure, with current offers reaching around 6% for shorter terms and up to about 8% per year for longer placements such as 12 months. Please note that time deposits have lockin period, meaning you can’t withdraw your money during those periods. Invest only the fund that you are willing to forget for that period; never put your emergency fund in time deposits. 🙂 

#6 Bonus: BPI BanKo Todo Savings

BanKo offers a digital savings product called Todo Savings, which currently earns 5% per year gross interest on balances up to ₱1,000,000. This rate is fixed and does not require completing missions or spending challenges, making it attractive for savers who prefer predictable returns. Interest is credited regularly while allowing flexible deposits and withdrawals.

Although BanKo is not classified as a digital bank by BSP, it is a microfinance subsidiary of BPI that provides mobile banking services alongside selected physical touchpoints. This makes it feel like a hybrid between traditional and digital banking, which some users may find reassuring.

Personally, what I like about Todo Savings is the simplicity. The 5% rate is straightforward and stable, so you can focus on building your savings without worrying about promo mechanics or maintaining app activity. With coverage up to ₱1,000,000 for the higher rate, it can be a practical option for emergency funds or medium-term savings goals.

Summary Table

Bank	Savings Interest (p.a.)	Max Balance for Highlighted Rate	Key Perks / Notes
Maya Savings	3.5% base up to 15% promo (missions)	Base does not have a maximum, but boost interests usually apply up to ₱100,000 (varies by mission)	Daily interest crediting, high promo potential, integrated wallet, bills payment, debit card, and time deposit available
MariBank	3.25% up to ₱1M3.75% above ₱1M	No strict cap for the account, but tiered rates apply	Daily interest crediting, 15 free weekly transfers (InstaPay & PESONet), 1% debit card cashback, Shopee ecosystem integration
UNO Digital Bank (via GCash)	3.25% – 3.75% savings	Up to ₱4,999,999.99 for higher tier	Daily interest crediting, fully integrated with GCash, easy transfers, time deposit up to 5.75%, no holding period for savings
GoTyme Bank	Around 3.0% gross	No maximum deposit limit stated	Monthly interest crediting, Go Rewards points via Robinsons ecosystem, free debit card printing at kiosks
Tonik	1% for regular savings Stashes around 4.0% gross	Flexible savings pockets (no strict cap)	Goal-based savings system, monthly interest crediting, time deposit up to ~8% with lock-in period
BanKo Todo Savings	5.0% fixed gross	Up to ₱1,000,000	Simple fixed rate (no missions), hybrid digital + physical banking, good for emergency fund or conservative savers

How to Choose the Right Digital Bank

When comparing digital banks in the Philippines, it’s important to look beyond just the interest rate. Each bank has different strengths depending on how you plan to use your savings.

Interest Rate

Higher interest rates can help your money grow faster over time. For me — and for anyone who is interested in earning passive income — interest is usually the first thing to consider. However, some digital banks offer promotional rates that require completing certain activities. For example, Maya may require you to spend a minimum amount monthly or use specific services to unlock higher interest. Because of this, it is always important to understand the conditions before deciding where to save.

Accessibility and Convenience

Choose a bank that matches your daily financial habits. Features such as free fund transfers, debit card access, easy withdrawals, rewards programs, and a smooth mobile app experience can make managing your money much more convenient. A digital bank that is easy to use encourages consistent saving and better financial discipline.

Saving Purpose

It also helps to align your choice of bank with your financial goals. In my case, I use BanKo Todo Savings for my emergency and buffer funds because of its relatively high and fixed interest rate. I use Maya for growth savings due to its higher potential promotional returns. For a more passive approach, MariBank works well because of its steady daily interest and generous free transfer features. If I want to combine saving with everyday spending, GoTyme is practical because of its rewards system. Meanwhile, if I need to organise funds for specific goals like travel or education, I can use Tonik’s Stashes feature to separate and manage my savings more effectively.

Final Thoughts

For me, it is still important to diversify your savings. Don’t put all your money in just one bank or one platform. Spreading your funds across different digital banks can help you maximise interest opportunities while also giving you flexibility and peace of mind. 

Also, should you need it in the future, the abovementioned digital banks allow you to download your Statement of Account and Bank Certificate. Whether you need it for a visa application or transaction tracking, these apps are really convenient. 

Saving is a journey, and every small step counts. Whether you are building your emergency fund, saving for travel, or simply trying to grow your money wisely, the most important thing is to stay consistent.

Happy savings!

-Bryan