SeaBank interest rate adjusted to 4.5% p.a.

Seabank on Tuesday has announced to adjust its high-interest rate offering to 4.5% per annum (p.a.) for the first PHP 250,000 effective starting July 13, 2023.

Previously, the bank offered as high as 6% and eventually had become 5% that took effect on March 15.

In an email, the rural bank reiterated its 3% p.a. interest rate in excess of PHP 250,000 cap, and also mentioned its key features including free transfers to other banks, e-wallets, 24/7 customer service, and discounts on load top-ups.

This change comes a month after Maya Bank had recently adjusted its base interest from 4% down to 3.5% p.a. for savings.

You may read our guide here for more reference about the other interest rates from other digital banks.