The savings accounts in the Philippines with the highest interest rates in 2026.
Most savings accounts at traditional Philippine banks offer interest rates well below one percent per year, which means your money grows very slowly if it grows at all. Digital banks changed that. In 2026, several banks in the Philippines offer interest rates between four and eight percent per annum on savings – significantly higher than what most Filipinos are used to seeing. This is a plain comparison of the options worth considering.
Maya Bank.
Maya Bank’s savings account currently offers up to 6% per annum on deposits up to P100,000 for users who meet activity requirements on the Maya app – such as paying bills or making purchases. The base rate for standard savings is lower, around 3.5%, but the boosted rate makes it one of the more competitive options available. Maya is BSP-regulated and deposits are covered by PDIC insurance up to P500,000.
GoTyme Bank.
GoTyme Bank offers a savings rate of 5% per annum with no maintaining balance and no lock-in period. You can withdraw anytime without penalty. Account opening is done through kiosks at Robinsons malls or through the app, and you get a physical debit card immediately at the kiosk. For people who want a competitive rate with flexible access, GoTyme is one of the more straightforward options.
Seabank.
Seabank, backed by Sea Limited (the parent company of Shopee), offers a savings rate of up to 5% per annum. It is fully app-based, has no maintaining balance, and is particularly popular among Shopee sellers and buyers because of the integrated cashback features. The account opening process is straightforward and approval is typically fast.
Tonik Bank.
Tonik offers both a regular savings account and a Stash feature – essentially a savings bucket with a higher rate, currently around 4.5% per annum. The Stash option allows you to set a savings goal and lock funds for a specific period to earn the higher rate. For people who want to separate spending money from savings with a slightly higher return for keeping money set aside, Tonik’s Stash is practical.
Traditional banks – what they offer.
BPI’s regular savings account offers around 0.10% per annum, which is typical for large traditional banks. UnionBank and BDO are similar. The exception is their time deposit and special savings products, which can go up to 4 to 5% per annum for locked placements of one year or more. If you prefer a traditional bank for trust or ATM access reasons, consider splitting your savings – keep your everyday funds in a digital bank for the higher rate and move larger amounts to a time deposit at a traditional bank for a fixed return.
What to check before opening an account.
Verify the current rate directly with the bank before opening, as rates change. Confirm whether the rate is tiered (applying only up to a certain balance) or flat. Check whether there are conditions to earn the advertised rate, such as minimum transactions per month. Confirm PDIC coverage – all BSP-licensed banks are covered up to P500,000 per depositor. A higher rate is not worth much if the institution is not properly regulated.
For more practical guides on government services and personal finance in the Philippines, visit the Tutorial Hub.
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