Digital banks in the Philippines

Which one for your balance

Tonik Solo Stash keeps the most at each balance below; the runner-up changes with the amount because of balance tiers. Savings accounts after tax, for a year:

Base rates after the 20% final tax. Maya's boosted savings rate and Tonik's time deposit bonus depend on what you keep doing, so they are shown on each bank's page but not used here. Rates as each bank's page showed them on October 2, 2026.

No bank pays to appear here or to change its position.

• Choose Tonik Solo Stash if you keep around ₱100,000 and want the money available any day, because it keeps the most at that balance.
• UNOBank #UNOready Savings pays 1.00% on the whole balance from ₱5,000,000, so keep it below that.
• OFBank YaniSaver Premium Savings: skip it under ₱50,000; no rate is published below that.
• Choose a time deposit instead only for money you will not need before maturity; the board above ranks those too.

The seven licensed digital banks

These are the institutions the BSP lists under Digital Banks in its Verifier directory, last updated September 28, 2026. Each row gives the same four things: best savings rate, best time deposit rate on ₱100,000, the main catch, and the bank's own site to open the account from.

Savings: rate on a ₱100,000 balance. Time deposit: highest rate across terms for ₱100,000. Source: BSP Verifier and each bank's rates page.

When each pays interest

• Maya Bank: Maya Savings earns interest on each day's end-of-day balance and credits it the next day, net of tax. Time Deposit Plus interest is credited monthly, on the first calendar day of the next month. Maya Bank
• Tonik: The extra 1% a year on a Time Deposit is paid only at payout, and only if your Tonik savings account keeps an average daily balance of at least ₱10,000 every month of the term. Tonik
• UNOBank: #UNOready Savings interest is computed on the end-of-day balance and credited daily; the smallest credit is ₱0.01. #UNOearn pays its interest monthly into your #UNOready account. UNOBank
• UNOBank: At maturity, #UNOboost and #UNOearn time deposits can be rolled over from the Maturity Instructions in the UNO app. UNOBank
• UnionDigital Bank: Interest is calculated daily on end-of-day balances and credited monthly. UnionDigital states that all deposit interest is subject to 20% withholding tax. UnionDigital Bank

What makes a bank a digital bank

A digital bank is a BSP licence category of its own. It offers the same deposits and loans as a regular bank, but serves you through an app and the internet instead of a branch network. Most digital banks have a single registered office; MariBank is the exception, with five offices on the BSP list and a head office in Pagsanjan, Laguna.

Banks such as CIMB, which run mostly through an app, are not digital banks in this sense. CIMB holds a commercial bank licence. Maya Bank is the bank behind the Maya wallet; the wallet itself is a separate company licensed as an e-money issuer.

Tax on your interest

Interest on bank deposits is taxed at 20% as a final tax. The bank withholds it before crediting your interest, so a 4% rate leaves you about 3.2%. Since July 1, 2025 the same rate applies to deposits in any currency and of any term (BIR, RR 21-2025), and it is final, so it is not declared again. For tax on your salary, use the salary tax calculator.

Is my money safe in a digital bank?

Digital banks are supervised by the BSP like any other bank, and the PDIC insures deposits up to ₱1,000,000 per depositor per bank. Accounts at different banks are insured separately. Check how much of your money is covered with the deposit insurance calculator.

Questions