Key takeaways
- ✅ The best digital bank depends on your need: emergency access, savings rate, daily spending, or an OFW use case.
- ✅ Don't chase the headline rate alone. Check base rate, promo rules, fees, transfer limits, app reliability, and support first.
- ✅ Only six banks are licensed digital banks; others like CIMB or MariBank are BSP-regulated but a different category.
You've seen the screenshots: a digital bank advertising "up to 15%" right next to the 0.25% your traditional bank pays. It's tempting to chase the biggest number, but a high rate only helps if the account also fits how you actually save, withdraw, transfer, and get help when something breaks. For a beginner, the goal is simple: keep your money safe, easy to reach, and earning more than a typical passbook account.
This guide compares the BSP-licensed digital banks and the popular online banking options open to Filipinos, with rates checked from official sources as of May 31, 2026. Treat them as a snapshot, not a promise. Banks change rates, promos, fees, limits, and eligibility whenever they like, so confirm the latest details before you open or fund an account.
Quick answer
There's no single best digital bank for everyone. Maya may suit people who already spend through Maya. GoTyme may suit those who want a clean savings account, rewards, and simple access. Tonik may suit savers who like stashes or time deposits. UNO may suit users who want daily interest and card features. OFBank is more specialized, built for overseas Filipinos and OFWs. UnionDigital may suit those who want a UnionBank-linked digital bank, though you'll want to check current rates in the app.
Licensed digital banks vs online banks
In the Philippines, "digital bank" has a specific regulatory meaning. PDIC listed six insured digital banks as of April 15, 2026: GoTyme Bank, Maya Bank, Overseas Filipino Bank, Tonik Digital Bank, UnionDigital Bank, and UNObank. CIMB, MariBank, OwnBank, and Netbank are useful online banking options, but they aren't part of that six-bank list.
Digital banks and online banking options compared
| Bank or option | Regulatory type | Published savings rate snapshot | May fit users who want | Check before using |
|---|---|---|---|---|
Maya Bank | Licensed digital bank | 3% base; boosts up to 15% p.a. on qualifying balances/promos | Maya wallet users and promo maximizers | Spend missions, caps, promo duration, excess balance rules |
GoTyme Bank | Licensed digital bank | 3% p.a. Go Save, credited monthly | Simple savings, rewards, debit card access | Monthly crediting, transfer and card limits |
Tonik Digital Bank | Licensed digital bank | 4% Solo Stash; TD rates shown up to 6.5% p.a. | Goal pockets and time deposits | Cash-in options, TD lock-in, early withdrawal terms |
UNObank | Licensed digital bank | 3% to 3.5% #UNOready; 1% at ₱5M and above | Daily interest and card features | Transfer fees, virtual/physical card requirements |
OFBank | Licensed digital bank | Rate-led savings not emphasized on checked public page | OFWs, overseas Filipinos, beneficiaries | Eligibility and remittance-related use case |
UnionDigital Bank | Licensed digital bank | Check current deposit rates in-app | UnionBank-connected digital banking | Public rate clarity, app terms, support |
CIMB Bank PH | Commercial bank with online accounts | 2.5% UpSave; 2.6% GSave/Grow, with June 2026 update notes for some GSave rates | GSave/CIMB app users | Frequent rate updates and promo conditions |
MariBank | Rural bank with app-based savings | 3.25% up to ₱1M; 3.75% above ₱1M | Simple savings and free weekly transfers | Transfer allowance, card and ATM fees |
OwnBank | Rural bank with app-based savings | 3.8% Own It; 5.55% Own Wish | Higher-rate goal savings | Product terms, withdrawal rules, updated rate notices |
Netbank | Rural bank with app-based savings | 3.25% for new regular savings; TD up to 5% | Daily interest and term deposits | New vs existing user rates and support channels |
How to compare digital banks
Start with safety, then convenience, then returns. A tempting headline rate loses its shine if the promo demands spending you didn't plan, the app is unreliable for you, or transfers cost extra. A good emergency fund account should be easy to reach on a stressful day, not just impressive on a table.
- Interest rate: check the base rate, promo rate, balance cap, tax treatment, and crediting schedule.
- Fees: look at transfer fees, card fees, ATM fees, cash-in costs, and dormancy fees.
- Access: check whether you can use InstaPay, PESONet, QR Ph, a debit card, ATMs, cash-in partners, or e-wallet transfers.
- Limits: review daily transfer limits, deposit limits on basic accounts, and any cap on high-interest balances.
- Support and reliability: test customer service, read recent app reviews, and watch for maintenance advisories.
To turn any of these rates into a real peso figure, the PesoBuddy Digital Bank Savings Interest Calculator shows the gross interest, the 20% withholding tax, and what actually lands in your account.
Licensed digital banks in the Philippines
Maya Bank is strong for people already using the Maya wallet. Its official savings page states a 3% base rate, with possible boosted interest up to 15% p.a. through qualifying activities and balance growth. The catch is that boosts depend on rules, caps, and promo periods, so don't spend extra just to chase the higher rate.
GoTyme Bank is beginner-friendly if you want simple savings. Its Go Save help page states 3% annual interest, credited monthly and subject to withholding tax. It may not always have the highest rate, but its app, retail touchpoints, debit card, and rewards make day-to-day money management easier.
Tonik Digital Bank is useful for goal-based savers. Its site highlights a 4% annual rate for Solo Stash and time deposit rates of 5.5% for 6 months, 6% for 9 months, and 6.5% for 12 months. Time deposits help when money has a clear goal date, but avoid locking your full emergency fund in one.
UNObank offers #UNOready savings with tiered rates: 3% below ₱5,000, 3.5% from ₱5,000 to ₱4,999,999.99, and 1% from ₱5 million and above. It also mentions daily interest crediting and debit card features, though you'll still want to check transfer fees and card requirements.
OFBank is the first government digital-only bank, built mainly for overseas Filipinos, OFWs, and beneficiaries. It can fit remittance and OFW-related needs, but it isn't usually the first pick for a beginner chasing the highest savings rate.
UnionDigital Bank is connected to the UnionBank group. Its public site confirms BSP regulation, but current deposit rates weren't as clearly published on the checked pages as other banks. Verify rates directly in the app, especially if you already use UnionBank products.
Other online banking options
CIMB Bank PH stays relevant through the CIMB app and GSave. CIMB announced May 2026 base rates of 2.5% for UpSave and 2.6% for GSave, while GCash posted that some CIMB rates would move to 2.3% starting June 1, 2026. This is exactly why official pages matter.
MariBank, formerly SeaBank Philippines, is a rural bank option with simple app-based savings. Its fees and rates page lists 3.25% p.a. up to ₱1,000,000 and 3.75% p.a. above ₱1,000,000, plus up to 15 free outgoing transfers per week.
OwnBank and Netbank are also common comparison options. OwnBank posted rates including 3.8% for Own It and 5.55% for Own Wish. Netbank lists 3.25% for new regular savings accounts and time deposits up to 5%. They can be attractive, just label them correctly, because they aren't in the six licensed digital banks.
Are digital banks safe?
Digital banks can be safe when they're legitimate, regulated, and used carefully. PDIC deposit insurance is now up to ₱1,000,000 per depositor, per bank, effective March 15, 2025. That insurance is important, but it doesn't protect you from scams, wrong transfers, weak passwords, or handing your OTP to a stranger.
For better protection, download apps only from official stores, use a strong passcode, turn on biometrics if available, keep your SIM secure, and never share OTPs. Consider spreading large savings across more than one bank so a single app outage never blocks access to all your money.
Which digital bank fits your need?
For an emergency fund, prioritize access and reliability. A slightly lower rate is fine if the app works well and transfers are easy. For goal-based savings, stashes or separate accounts help you avoid mixing tuition, travel, bills, and emergency money. For daily spending, check debit card acceptance, QR payments, the free transfer allowance, and transfer speed.
If you're starting out, open one main digital or online bank and test it with a small amount. Try cashing in, transferring out, checking how interest is credited, contacting support, and reading the fee schedule. Once you're comfortable, decide whether to keep more savings there or split your money across two or three banks.
Picking the one that fits your habits
The best digital bank for you is the one that matches how you actually handle money, not the one with the loudest rate. Weigh safety first, then how easily you can get your cash out, the fees, the transfer limits, the app's reliability, and how clearly the bank explains its terms. Open one with a small amount, run a cash-in and a transfer through it, and only move more once it has earned your trust.