GoTyme Bank savings interest down to 3.5%, effective March 1st

Following its update on bank transfer fees, GoTyme Bank reportedly makes yet another change to its savings interest rate.

Starting March 1, 2025, its Go Save’s interest rate will drop to 3.5% per annum from its current 4% p.a.

Furthermore, the digital bank also reduces its USD Time Deposit rates to 2% and 3% p.a. for a 3-month and a 6-month term, respectively. The current interest rate for both terms is at 5% p.a.

The bank hasn’t made the announcement just yet on their official channels. But, it appears some users were already notified about the upcoming change via email or in-app.

During the same time last year, GoTyme Bank updated its savings interest rate, originally set at 5% down to 4% p.a.

The bank also recently made update to their bank transfer policy. From offering three free bank transfers per week, GoTyme Bank has set an Php8.00 transfer fee for every other fund transfer (or in other words, Php4.00 for every transfer).