Newest mobile banking app OwnBank offers Filipinos the highest savings interest rate yet, up to 8% per annum

Banking with peace of mind— OwnBank is BSP-regulated and PDIC-insured, the one app for all your financial needs!

Manila, Philippines, December 7, 2023 – In time for Filipinos’ Christmas bonus and 13th month pay, newest mobile banking player, OwnBank, sets foot in the market to offer local users its next-generation, all-in-one financial services, with the highest savings interest rate yet of 8% per annum. OwnBank seeks to enhance every Filipino’s money management effectively by supercharging their funds with more rewarding and secure financial solutions.

As the Banko Sentral ng Pilipinas (BSP)’s Digital Payments Transformation Roadmap advances to financially include 70 percent of the Filipino adult population with banking/e-money accounts, local leaders urge banking and financial industry players to help capture the 50 million Filipinos who are still financially excluded and lack basic tools for digital transactions.

OwnBank launches in the Philippines to cater to Filipinos’ demand for financial solutions that align with their fast-paced lifestyle and financial aspirations in the digital-first society.

Supercharge your 13th-month Pay

OwnBank offers exclusive perks to its users to maximize the potential of their savings and 13th-month pay, whether their goal is to save it through high-interest accounts, make wise investments, or simply manage expenses more efficiently.

Filipinos can enjoy the bank’s unique features by creating their OwnBank Mobile Savings Account by downloading the app and signing up with no minimum deposit and zero maintaining balance. OwnBank offers the following features and services that are a perfect fit for one’s financial goals:

• OwnBank New-user Time Deposit – Starters can benefit from OwnBank’s highest savings interest rate in the market so far, reaching up to 8% per annum, by opening a 7-day Time Deposit account. After seven days, users may have the flexibility to transfer their funds to either OwnBank Time Deposit or Own It.
• OwnBank Time Deposit (Flexible) – Users also have the choice to open an OwnBank Time Deposit account with high-interest rates of up to 7.5% per annum, with flexible terms of up to one year and hassle-free withdrawal.
• Own It – If one prefers savings interest that is earned and credited daily, Own It makes it possible and also presents a high-interest savings account with up to 6% per annum.

These elevated interest rates are designed to provide a significant boost to Filipinos’ funds to help them accelerate their savings goals.

One app for all of Filipinos’ financial needs

OwnBank’s holistic solution platform is a one-stop destination for Filipinos in search of an all-encompassing online banking service. Its app offers free money transfers to other OwnBank users, and bank transfers to all major banks and e-wallets via InstaPay and PESONet, and more. It also simplifies financial transactions such as top-ups for buying load and data plans from all mobile networks, instant access to game credits on Mobile Legends, Roblox, and others, and convenient bill payment options.

Exciting features will soon be available in the OwnBank App, where users will be able to send cash or remit to more than 10,000 outlets nationwide. OwnBank shall soon make online transactions easier, from shopping online to sending payments including QR code payments, card payments, and bank direct debit payments. Premium features for OwnBank users can also be expected in the coming months.

Banking with peace of mind

Amid the rampant cybersecurity breaches and attacks happening in the Philippines, OwnBank assures its users with state-of-the-art banking security systems powered with Artificial Intelligence (AI), multi-factor authentication for enhanced transaction security, and advanced banking system security for financial transactions and data protection. The institution is also Philippine Deposit Insurance Corporation (PDIC)-insured, a commitment to the strict compliance standards mandated by BSP. This proves OwnBank’s dedication to safeguarding the interests of its clientele.

Founded in 1956 as Own Bank, The Rural Bank of Cavite City, Inc., the company has been an essential financial institution within its local community. In 2021, OwnBank underwent a transformative shift under the guidance of Streetcorner Group, an association that includes Akulaku, a leading financial technology platform in Southeast Asia, and Metropolitan Insurance Company Inc. (MICI), a non-life insurance company. This marked the initiation of OwnBank’s journey into the digital era, embracing innovation and incorporating cutting-edge financial services into its foundation.

Own the power of your savings now. Download the OwnBank app today on App Store, Google Play Store, and Huawei AppGallery. For more information, visit OwnBank’s official website at www.ownbank.com or follow them on social media at Facebook, X, and Instagram.

About OwnBank

OwnBank is the incarnation of financial excellence, setting the benchmark for modern banking in the Philippines. OwnBank is actively revolutionizing the financial landscape of tomorrow with its dedication to innovation and customer satisfaction.

From seamless mobile banking to comprehensive and more rewarding financial product offerings, OwnBank provides a diverse range of services, all aimed at empowering Filipinos and businesses alike.