Best Savings Accounts in the Philippines 2026
Compare the best savings accounts in the Philippines for 2026, including high-yield digital banks, traditional bank savings accounts, promo rates, minimum balance requirements, and estimated interest earnings.
What Is a Savings Rate?
A savings rate is the annual interest a bank pays you for keeping money in a savings account. In the Philippines, savings rates are expressed as a percentage per annum (p.a.) — for example, a 5% p.a. rate means you earn roughly ₱5,000 per year on a ₱100,000 deposit. Rates vary widely between banks: traditional banks typically offer 0.10%–0.25% p.a., while digital banks may offer 3%–5% p.a. or higher through promotional rates.
The table below compares savings interest rates from both traditional and digital banks in the Philippines so you can find the best savings account for your situation.
Looking only for app-based banks? Compare the best digital bank rates in the Philippines.
Highest Savings Interest Rates in the Philippines
These are not universal winners. They are starting points based on the highest advertised yield.
Maya
#115.00%
per annum
Personal Savings
Promo rate · No min. balance
Tonik Bank
#24.50%
per annum
Group Stash
Standard rate · No min. balance
Tonik Bank
#34.00%
per annum
Solo Stash
Standard rate · No min. balance
Savings Account Comparison Table
Compare savings account options using the factors that matter most in real use, not just the highest advertised yield.
Use this table to compare both the advertised return and the practical tradeoffs of each account. A higher rate may come with promo conditions, limited duration, or account requirements.
| Bank | Product | Headline Rate | Promo or Standard | Min. Balance |
|---|---|---|---|---|
| Maya | Personal Savings | 15.00% | Promo | None |
| Tonik Bank | Group Stash | 4.50% | Standard | None |
| Tonik Bank | Solo Stash | 4.00% | Standard | None |
| MariBank | Regular Savings | 3.25% | Standard | None |
| GoTyme | GoSave | 3.00% | Standard | None |
| CIMB | GSave / UpSave | 2.50% | Standard | None |
| ING Philippines | Savings Account | 2.50% | Standard | None |
| Tonik Bank | Tonik Account | 1.00% | Standard | None |
| BDO | Regular Savings | 0.25% | Standard | ₱10,000 |
| BPI | Regular Savings | 0.25% | Standard | ₱3,000 |
| Metrobank | Regular Savings | 0.25% | Standard | ₱10,000 |
Rates, terms, and product details may change. Always verify the latest information directly with the bank before opening an account or moving funds.
How Much Interest Can You Earn?
Compare estimated earnings across every account at once, or switch to a single account for a detailed breakdown. Enter your deposit and holding period, then filter by account type or rate type and toggle the tax assumption.
Top option: Maya — Personal Savings at 15.00% p.a. — about ₱7,500.00 gross interest over 12 months (before the 20% withholding tax).
| Account | Rate | Est. monthly interest | Est. annual interest | After-tax annual |
|---|---|---|---|---|
| MayaPersonal Savings | 15.00% | ₱500.00 | ₱6,000.00 | ₱6,000.00 |
| Tonik BankGroup Stash | 4.50% | ₱150.00 | ₱1,800.00 | ₱1,800.00 |
| Tonik BankSolo Stash | 4.00% | ₱133.33 | ₱1,600.00 | ₱1,600.00 |
| MariBankRegular Savings | 3.25% | ₱108.33 | ₱1,300.00 | ₱1,300.00 |
| GoTymeGoSave | 3.00% | ₱100.00 | ₱1,200.00 | ₱1,200.00 |
| CIMBGSave / UpSave | 2.50% | ₱83.33 | ₱1,000.00 | ₱1,000.00 |
| ING PhilippinesSavings Account | 2.50% | ₱83.33 | ₱1,000.00 | ₱1,000.00 |
| Tonik BankTonik Account | 1.00% | ₱33.33 | ₱400.00 | ₱400.00 |
| BDORegular Savings | 0.25% | ₱8.33 | ₱100.00 | ₱100.00 |
| BPIRegular Savings | 0.25% | ₱8.33 | ₱100.00 | ₱100.00 |
| MetrobankRegular Savings | 0.25% | ₱8.33 | ₱100.00 | ₱100.00 |
Estimates use simple interest on the deposit amount. Promo rates may require conditions or apply only up to a balance cap, so actual earnings can differ. Switch to Single account estimate for a detailed breakdown of one account.
Promo Rates vs Standard Rates
Some banks advertise high promotional yields that may depend on spending activity, time-limited offers, balance tiers, or other conditions. Others offer lower but simpler rates that are easier to understand and maintain.
If you want a simpler savings setup, do not compare headline rates alone. Check whether the rate is promotional, conditional, or more stable over time.
A promo rate may be useful if:
- you are willing to track changing requirements
- you actively use the bank's app or ecosystem
- you are comfortable moving funds when promos change
A more standard rate may be better if:
- you prefer a simpler long-term setup
- you do not want to monitor promo mechanics often
- you value consistency more than headline yield
Savings Interest Tax in the Philippines
Savings interest rates are often shown as gross rates. In the Philippines, interest income from deposit accounts is generally subject to withholding tax, which means your effective return may be lower than the advertised figure.
5.00%
gross rate
≈ 4.00%
after withholding tax
6.00%
gross rate
≈ 4.80%
after withholding tax
10.00%
gross rate
≈ 8.00%
after withholding tax
Use gross rates for comparison, but keep after-tax return in mind when deciding where to park your money.
Digital Banks vs Traditional Banks
Digital banks may offer higher advertised savings rates, app-first convenience, and lower minimum balance requirements. Traditional banks may offer broader branch access, more familiar service models, and easier integration with existing accounts.
Digital banks may suit you if:
- you want stronger headline savings rates
- you are comfortable managing money through an app
- you prefer quick account setup and digital transfers
Traditional banks may suit you if:
- you value branch access and in-person service
- you already keep your main accounts with a traditional bank
- you want a more familiar savings setup
The better option depends on how you plan to use the account, not just which one advertises the highest rate.
How to Choose the Right Savings Account
The right account depends on how you plan to use the money. A strong savings rate matters, but it should be considered together with access, requirements, and account purpose.
Before choosing an account:
- choose flexibility for emergency funds
- compare stable rates versus temporary promos
- check minimum balance rules
- confirm BSP licensing and PDIC coverage
- avoid chasing yield if the account is hard to use
- match the product to your savings goal
If the money is for emergencies or everyday use, easy access may matter more than the highest possible yield. If the funds are parked for a short period, a stronger promotional rate may be worth considering if the conditions are manageable.
Savings Accounts with Low Maintaining Balance
Many digital banks in the Philippines now offer savings accounts with zero maintaining balance, making them accessible even for first-time savers. If you are looking for the cheapest savings account to open in the Philippines, digital banks like Maya, Tonik, GoTyme, and SeaBank all allow you to start with no minimum deposit and no maintaining balance requirement.
Traditional banks like BDO, BPI, and Metrobank typically require a maintaining balance of ₱2,000–₱10,000, with fees charged if your balance falls below. Check the comparison table above for the exact minimum balance for each bank.
Best High-Yield Savings Accounts by Need
Start with the type of savings experience you want, not just the highest percentage.
Best for Highest Promo Rate
Best for users willing to track promo mechanics, qualifying conditions, and changing offers in exchange for a higher advertised yield.
Best for Everyday Digital Savings
Best for users who want a competitive savings rate with easy app-based access and fewer branch-related steps.
Best for Traditional Bank Users
Best for users who prefer established banks, branch access, or more familiar account structures.
Best for Low Minimum Balance
Best for users who want to start small, keep flexibility, or avoid maintaining a large balance.
Best for Parked Short-Term Cash
Best for users comparing where to place idle funds while keeping money relatively liquid.
How we compare savings accounts
PesoHub compares savings accounts using publicly available product information such as advertised interest rates, account type, minimum balance, access method, and notes about promo conditions. Rates and account details may change, so always verify the latest information with the bank directly.
Frequently Asked Questions
Related rates and guides
Source & freshness
Interest rates shown are subject to change without prior notice. Rates are gross (before the 20% final withholding tax on interest income). Promotional rates may expire. Always verify the current rate directly with the bank before opening an account. This page is not affiliated with any bank listed.