#interest rate

MariBank Philippines, formerly known as SeaBank, announced an update to its savings account interest rates. Under MariBank's new structure, balances of up to PHP 1,000,000 will earn 3.25% interest per year. The digital bank stated that customers will continue to receive daily interest earnings and 15 free transfers per week. 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. 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. You may read our guide here for more reference about the other interest rates from other digital banks. Read more in our articles including "MariBank interest rate down to 3.75% p.a." and "SeaBank interest rate adjusted to 4.5% p.a.".