What is a digital bank in the Philippines?

BSP recognizes digital banks as a distinct bank classification in the Philippines. These banks operate primarily through apps and digital channels, with limited or no physical branches.

Is the highest rate always the best choice?

No. A bank with the highest promo rate may still be less practical for your needs if access, transfers, card use, or conditions are weaker.

Why should I compare base rate and promo rate separately?

Because some banks emphasize limited or conditional promo rates, while others offer simpler regular rates. Comparing them separately gives a clearer picture.

Are digital bank deposits insured?

Bank deposits are covered by PDIC up to ₱1,000,000 per depositor, per bank effective March 15, 2025.

Should I use a digital bank or a time deposit?

A digital bank may be better if you want easier access and app-based flexibility. A time deposit may be better if you can lock in funds for a fixed term.

What should I check after reading this page?

Compare savings rates, check time deposit alternatives, and use a calculator if you want to estimate growth instead of only comparing features.

Digital Banks Comparison Philippines

Compare digital banks in the Philippines based on savings rates, transfer experience, card and ATM access, deposit insurance, account limits, and everyday usability. Use this page to find the digital bank that fits your actual use case, not just the one with the highest advertised rate.

Updated March 18, 2026

Digital Bank Comparison Table

Compare digital banks side by side using the features that matter most in real use, not just the highest rate on a promo banner.

This table separates regular rates from promo-driven rates and makes access features easy to scan. Start with your use case first, then compare base rate, promo rate, access features, and product notes.

Bank	Best For	Base Rate	Promo Rate	Card / ATM Access	Transfers	Deposit Insurance	Notes
Tonik	Rate-focused savers	6.00%	—	Debit card available	App-based transfers, InstaPay, PESONet	PDIC-insured up to ₱1,000,000	BSP-licensed digital bank. Stash account for savings.
GoTyme	Everyday spending	5.00%	—	Debit card + kiosk withdrawals	App-based transfers, InstaPay	PDIC-insured up to ₱1,000,000	Joint venture of Gokongwei Group and Tyme Group.
SeaBank	Simpler setup	5.00%	—	No card; app-only	App-based transfers, InstaPay, PESONet	PDIC-insured up to ₱1,000,000	Backed by Sea Group (Shopee). BSP-licensed digital bank.
Maya	Promo-driven savers	2.50%	15.00%	Virtual and physical card available	App-based transfers, InstaPay, PESONet	PDIC-insured up to ₱1,000,000	Promo rate; subject to change. Formerly PayMaya.
CIMB	Transfer-heavy users	3.50%	—	No card; app-only	App + GCash integration, InstaPay	PDIC-insured up to ₱1,000,000	GCash partner bank. UpSave account offers higher rate.

Always verify the latest product terms, promos, and account conditions directly with the bank before opening an account or moving funds.

Base Rate vs Promo Rate

One of the biggest reasons digital bank comparisons can be misleading is that some banks highlight promotional rates while others emphasize a simpler regular rate. A fair comparison should separate these two clearly.

base rate is the more stable savings rate
promo rate may depend on conditions or limited periods
a higher promo rate is not always easier to maintain
users should compare both headline yield and practicality

This is why the comparison table shows both base rate and promo rate instead of combining them into one number.

Why Access Features Matter

A digital bank can look attractive on rate alone, but access matters just as much for daily use. Some users care more about cash access, debit cards, and transfers than about squeezing out the highest possible yield.

some users want a bank for daily spending
some want a bank mainly for savings
card and ATM access may matter more than rate for cash users
transfer experience matters for people moving money often

Deposit Insurance and Trust Notes

For deposit products, trust and protection matter. PDIC increased the maximum deposit insurance coverage to ₱1,000,000 per depositor, per bank effective March 15, 2025, and that should be clearly reflected in the comparison notes for any deposit-focused digital bank page.

This does not replace product due diligence, but it is one of the clearest trust signals users look for when comparing where to keep money.

Best Digital Bank Options by Need

Start with how you plan to use the account, not just the headline rate.

Best for Everyday Spending

Best for users who want a digital bank that works well for regular payments and daily account use.

Best for Rate-Focused Savers

Best for users comparing where to park cash for stronger savings yield.

Best for Transfer-Heavy Users

Best for users who care most about app-based transfers and day-to-day movement of money.

Best for Card and ATM Access

Best for users who want easier cash access or debit-card convenience.

Best for Simpler Setup

Best for users who want a cleaner, easier-to-understand product with fewer moving parts.

How we compare digital banks

PesoHub compares digital banks using publicly available product information such as advertised base and promo rates, card and ATM access, transfer features, account limits, and deposit insurance notes. Rates and account details may change, so always verify the latest information with the bank directly.

Frequently Asked Questions

Related Savings and Rates Pages

After comparing digital banks, you may also want to review these related pages.

Best Savings Interest Rates

Time Deposit Rates

Time Deposit Calculator

Savings Goal Calculator

Rates Hub

Guides Hub

Source & Freshness

Source: Individual bank websites and product disclosures
Updated: March 18, 2026
Review cycle: Every 2 weeks

Interest rates shown are subject to change without prior notice. Rates are gross (before the 20% final withholding tax on interest income). Promotional rates may expire. Always verify the current rate directly with the bank before opening an account. This page is not affiliated with any bank listed.