GCash, the Philippines’ number one finance app, launches its highest time deposit interest rate yet of 6.50% per annum (p.a.) thanks to its newest digital banking partner, UNO Digital Bank.
Through this partnership, the e-wallet is able to offer its first Time Deposit product in GSave Hub with a high interest rate of 6.50% p.a.
Within the GSave Hub, UNO Digital Bank also offers the highest Regular Savings interest rate of up to 4.25% p.a., and is the only bank partner of GCash that’s giving daily payout of interest earnings to its depositors.
GSave is GCash’s digital savings account that allows users to secure their hard-earned money while earning interest simply by opening a savings account with any of the GSave Hub partner banks such as CIMB, BPI, Maybank, and now, UNO Digital Bank.
On top of the high interest rates, UNO Digital Bank depositors on GSave also enjoy easy account opening through the GCash app, no minimum initial deposit and maintaining balance. The cash-in and cash-out using the GCash Wallet is free of charge. And there’s free life insurance of up to P50,000 if the average daily balance (ADB) reaches P10,000.
“Our partnership with UNO Digital Bank is in line with GCash’s goal of giving Filipinos a secure and convenient banking experience by being an all-in-one app for all their financial needs, from banking to lifestyle essentials,” said Martha Sazon, GCash’s president and CEO.
Aside from UNO Digital Bank, users can also take advantage of the attractive offerings of GCash bank partners in the GSave Hub. Maybank allows depositors to withdraw from over 22,000 Bancnet ATMs nationwide free of charge, with no minimum bank deposit and no maintaining balance. Similarly, CIMB does not require a minimum bank deposit and maintaining balance and offer promos that allow depositors to earn high interest rates. Finally, BPI, a trusted name in banking, offers an accessible way of opening a savings account.
Filipinos can enjoy the GSave feature by downloading GCash for free on the Google Play Store for Android, the App Store for iPhone and iPad users, or the Huawei Gallery.