Digital bank offers biggest annual interest rate to boost your savings

MANILA, Philippines — Today, more and more Filipinos are utilizing mobile technology to go about their daily tasks and lives. Such can be said in banking.

Smartphone users are now discovering mobile banking as convenient and effective means, especially in a growing economy such as ours.

In fact, the BangkoSentral ng Pilipinas (BSP) continuously pushes for financial inclusion among unbanked Filipinos through mobile banking.

READ: BSP targets to double number of Filipinos with bank accounts

CIMB Bank Philippines is one such digital banking solution that can help address this, having the best savings interest rate in the country today.

Higher yield, better savings

CIMB is offering its new UpSave Account with a savings interest rate of 4% per annum—a whopping 1600% higher than most major banks in the country—that isn’t tied to any promotional period or gimmick.

Not only does having a high-yield, all-digital savings account give more flexibility and ease in transfers, this one provides a stark increase in earnings yearly compared to traditional savings accounts.

So whether you’re looking to complement other strategies in savings and investment, or preserving a principal while growing your funds for large purchases in the future, then opening a savings account with CIMB is the way to go.

Major perks

With a CIMB UpSave Account, you get more benefits beyond a bigger annual interest rate. Here are some of them.

1. No extra charges

Apart from seamless set up in minutes and hassle-free management via a mobile app, there’s also zero maintaining balance and zero transaction fees.

2. Guaranteed life insurance

What’s more, opening a savings account could entitle you to a sizeable life insurance coverage.

All you have to do is maintain a minimum of P100,000 average daily balance (ADB) on your UpSave Account for one month in the CIMB Bank PH App and get life insurance coverage of up to P2 million!

3. Familiarity with other modes

Your UpSave account is your gateway to a myriad of other transaction modes that makes for a truly financially inclusive experience.

CIMB account holders get free access to over 8,000 convenience partners and over 20,000 ATMs nationwide, such as 7-Eleven, Bayad Center, GCash, PESONet, and Dragonpay.

4. Digital loan application

With CIMB, it's now more convenient to apply for a personal loan of up to P1 million through your mobile phone. Appearance is not needed and no fees and hidden charges are involved.

5. Full protection

CIMB takes customer safety and security very seriously. In order to stave off fraud and identity theft, CIMB set up the following measures:

• MPIN or Mobile Pin: A 6-digit pin, created by the customer, is used to verify every transaction made through the app. The app also notifies the customer in real-time for any transaction and even change in details including the MPIN.
• Biometric login: Fingerprint scanning and facial recognition is employed so only account holders have access to their money on the app.
• One device policy: Each account is tagged to a lone device at any given time, to make sure each account corresponds to one account holder.

Your new financial partner

Be empowered as you take on your financial goals. Choose a partner that understands this and helps you seize life's important moments.

Take the first step with CIMB.

CIMB Bank Philippines, the newest in the CIMB group roster, is an all-digital, mobile-first bank in the Philippines. In its first year of operations in 2019, it has already signed almost 2 million customers and has already garnered at least eight awards since 2018, including Global Finance’s Best Digital Consumer Bank and Asian Banker’s Best Digital Bank, and International Finance’s Fastest Growing Digital Bank.

With its establishment in the Philippines, it seeks to transform Filipino banking experience, thereby empowering them to seize life’s moments.

To know more about CIMB Bank PH, click here. Download the app for Android and iOS. You can also check out their Facebook and Instagram pages @CIMBBankPH.