OFBank interest rates
OFBank's best account for ₱100,000 is YaniSaver Premium Savings at 0.05% a year (OFBank rate page, as listed on October 2, 2026). Left for a year, ₱100,000 earns ₱40.01 after the 20% final tax, 18th of the 18 banks on this site.
Our take: keep only your day-to-day money at OFBank. For money you can set aside, UNOBank's #UNOboost Time Deposit leaves ₱4,359.99 more on the same ₱100,000 a year after tax (see UNOBank).
No bank pays to appear here or to change its position.
Licensed by the BSP as a digital bankOverseas Filipino Bank, Inc., A Digital Bank of LANDBANK (BSP short name OFBDB) is on the BSP's list of supervised institutions as a digital bank with 1 office, and its deposits are insured by the PDIC up to ₱1,000,000 per depositor. BSP Verifier, Institutions list updated September 28, 2026
Next: see what you need to open an account, then open YaniSaver Premium Savings from OFBank's own YaniSaver Premium Savings page or the bank’s official app.
Interest calculator, after tax
- Interest you keep, after 20% final tax
- ₱40.01
- Gross interest
- ₱50.01
- Final tax withheld (20%)
- ₱10.00
- Rate used
- 0.05%
- Balance at the end
- ₱100,040.01
Savings: your balance stays at ₱100,000, interest is credited monthly and what is left after tax keeps earning.
Worked example, YaniSaver Premium Savings: ₱100,000 × 0.05% (OFBank rate page, as listed on October 2, 2026), with the after-tax interest added each month, = ₱50.01 gross. Less the 20% final tax (₱10.00; RA 12214, BIR RR 21-2025 from July 1, 2025) = ₱40.01 you keep. Compare it with every savings account in the digital bank rankings.
The 20% final tax applies from July 1, 2025 under Sections 24(B)(1) and 25(A)(1) of the Tax Code, as amended by RA 12214 (Capital Markets Efficiency Promotion Act) (BIR, RR 21-2025). It replaced the old exemption for deposits of five years or more; see the final withholding tax and time deposit vs MP2 after tax.
What you need to open an account
- OFBank accounts are opened in the OFBank Mobile Banking App. bank page
- You need an active email address, an active mobile number and one valid ID to scan. bank page
- The accounts serve overseas Filipinos, OFWs and their beneficiaries, and the Regular Debit Card account is for beneficiaries aged 7 to 17. bank page
- Opening an account through the app's DOBSAI onboarding is free. bank page
When to skip it
- YaniSaver Premium Savings: skip it if you keep less than ₱50,000; the published rate starts there.
Published rates, account by account
YaniSaver Premium Savings
0.05% to 4.00% a year, grossTiered interest rates of up to 4% per annum, from 0.05% on ₱50,000 to 4.00% on ₱10,000,000 and up.
Rate tiers are set by average daily balance. No fixed term; withdraw at any LANDBANK branch.
| Balance | Rate a year |
|---|---|
| ₱50,000 to ₱499,999 | 0.05% |
| ₱500,000 to ₱999,999 | 1.00% |
| ₱1,000,000 to ₱2,999,999 | 2.00% |
| ₱3,000,000 to ₱4,999,999 | 2.50% |
| ₱5,000,000 to ₱6,999,999 | 3.00% |
| ₱7,000,000 to ₱8,999,999 | 3.50% |
| ₱9,000,000 to ₱9,999,999 | 3.75% |
| ₱10,000,000 and up | 4.00% |
As listed on OFBank's rate page on October 2, 2026. OFBank
Maintaining balance, interest and fees
- MinimumsYaniSaver rates are set by average daily balance, and the lowest published tier starts at ₱50,000. There is no fixed term, and you can withdraw at any LANDBANK branch. bank page
- TaxOFBank withholds 20% of the gross interest each time it credits interest, so the amount you see is already net. Since July 1, 2025 (RA 12214; BIR RR 21-2025) this applies to every deposit term and to dollar deposits too. The deposit itself is not taxed.
Transfer fees
| InstaPay, personal | Free in the BSP summary |
|---|---|
| PESONet, personal | ₱0.00 to ₱17.00 |
| InstaPay, business | Not offered |
| PESONet, business | Not offered |
[PESONet] Fees vary based on the account type. As disclosed to the BSP, as of August 31, 2026. Moving money in or out: compare InstaPay and PESONet fees across banks.
Is your money insured?
The PDIC insures deposits up to ₱1,000,000 per depositor, per bank, effective March 15, 2025, set by the PDIC Board under the PDIC Charter (RA 3591, as amended by RA 11840). All your OFBank accounts in your own name are added together; anything above ₱1,000,000 there would not be insured if the bank closed. ₱1,500,000 kept as ₱1,000,000 at OFBank and ₱500,000 at another bank is fully insured; the same ₱1,500,000 at OFBank alone leaves ₱500,000 uninsured. PDIC
- Your single accounts and accounts held "by", "in trust for" or "for the account of" you at the same bank are added together as one.
- A joint account is insured separately from your single accounts, whether it uses "and", "or" or "and/or".
- Unless the account documents say otherwise, a joint account's insured amount is split equally among the co-owners.
- Your shares across several joint accounts at the same bank are added together and insured up to the maximum.
- Any loan you owe the closed bank is deducted from your deposits there.
- Investment products such as bonds, securities and trust accounts are not deposits and are not insured.
Rules from the PDIC deposit insurance brochure. Work out your own cover, joint accounts included, in the PDIC deposit insurance calculator.
On the BSP register
- Registered name
- Overseas Filipino Bank, Inc., A Digital Bank of LANDBANK
- BSP category
- Digital bank
- Head office
- Palacio del Gobernador Building, corner of Andres Soriano and General Luna Streets, Intramuros, Manila, Philippines
- Offices
- 1
- President & Chief Executive Officer
- Ms. Leila C. Martin
- Website
- ofbank.com.ph
Not covered here: business, joint-trust and dollar accounts, and loans. For a problem with a OFBank account, complain to OFBank first, then to the BSP (BOB chatbot on bsp.gov.ph or consumeraffairs@bsp.gov.ph) under RA 11765; if the bank closes, claims go to the PDIC.
What to do next
- Open or check the account on OFBank's own site, and confirm the rate on your amount there before you deposit; banks change rates without notice.
- Compare the same amount across all 18 banks and 50 accounts in the time deposit and savings calculator.
- Holding more than ₱1,000,000? Split it across banks and check the result in the PDIC deposit insurance calculator.
Questions
Is OFBank safe?
The BSP Verifier list updated September 28, 2026 has Overseas Filipino Bank, Inc., A Digital Bank of LANDBANK as a digital bank, so its deposits are PDIC-insured up to ₱1,000,000 per depositor, per bank, effective March 15, 2025. BSP Verifier
Do I declare OFBank interest on my income tax return?
No. Since July 1, 2025, the 20% that OFBank withholds is a final tax under RA 12214 and BIR RR 21-2025, so the interest is not added to your taxable income. BIR, Revenue Regulations No. 21-2025 digest
What if OFBank closes?
File your deposit insurance claim with the PDIC within 2 years (24 months) of its takeover of the bank; its hotline is (02) 8841-4141 or (02) 8841-4000; toll free 1-800-1-888-7342 (1-800-1-888-PDIC); pad@pdic.gov.ph. source