SeaBank’s savings interest down to 4%

SeaBank has yet again adjusted its savings interest rates of up to 4% per annum.

Starting January 9th, balances up to PHP 400,000 will continue to earn 4% annually, while amounts above this limit will be subject to a 3% annual rate.

Initially, it was at 4.5% per annum and it was later reduced to 4.25%.

SeaBank didn’t explicitly say the reasoning behind the change. But these things often come down to market forces and the bank’s own financial strategy.

GoTyme Bank, for example, adjusted its interest from 5% to 4% per annum.

Despite SeaBank’s adjustment, customers can still enjoy 15 free fund transfers and three cash-ins per week—along with daily interest accrual to maximize savings.