Top 7 Digital Banks in the Philippines (2026): Rates, Fees & Which One Wins
We went under the hood of all 7 BSP-licensed digital banks — MariBank, Maya, GoTyme, Tonik, UNO Digital, UnionDigital, and OFBank — to separate the marketing hype from the actual yield. Here's who wins in October 2026.
Updated on Oct 15, 2026 · 8 min read
Fact Checked
Quick answer
The best digital bank in the Philippines depends on what you optimise for: interest rate, ease of cash-in, or lending features. MariBank, Maya, GoTyme, Tonik, UNO Digital, UnionDigital and OFBank all hold BSP licences and are covered by PDIC deposit insurance up to ₱1 million per depositor per bank. Compare the base rate (not the promo rate), the balance cap the promo applies to, and how you will deposit and withdraw cash before opening an account.
Key takeaways
- All digital banks listed are BSP-licensed and PDIC-insured up to ₱1,000,000 per depositor per bank.
- Headline rates are often promotional and capped at a limited balance; the base rate applies to the rest.
- Interest on Philippine peso deposits is subject to 20% final withholding tax, deducted automatically.
- Spreading savings across two banks keeps each balance inside both the PDIC cap and the promo cap.
- Cash-in and cash-out convenience (partner outlets, InstaPay fees) matters more than a 0.5% rate gap for everyday accounts.
In 2026, the Philippines is no longer just "unbanked" — it's hyper-connected. With seven BSP-licensed digital banks now in full operation — MariBank, Maya, GoTyme, Tonik, UNO Digital, UnionDigital, and OFBank — the battle for your wallet has moved beyond basic apps to high-stakes ecosystems. But high interest rates often come with fine print. We've gone under the hood of all seven to separate the marketing hype from the actual yield — whether you're maximizing an emergency fund or looking for the best cashback card.
The Rules of Digital Banking in 2026
₱1 Million PDIC Insurance
Your deposits are insured up to ₱1,000,000 per depositor, per bank — doubled from the previous ₱500K limit effective March 15, 2025. Spread balances across banks to maximize coverage.
Standardized Payment Rails
As of February 2026, the BSP mandated removal of proprietary transfer shortcuts. All transfers now run through standardized InstaPay and PESONet rails — uniform security across all apps.
The 20% Tax Reality
All headline interest rates are gross. A 20% final withholding tax is deducted from your interest earnings.
Example: A 6% p.a. headline rate is effectively 4.8% p.a. net.
E-Money ≠ Bank Deposit
Money in a GCash or Maya wallet is e-money — not PDIC-insured. Only funds inside a BSP-licensed bank savings account carry full deposit insurance. Check which account your funds sit in.
MariBank (formerly SeaBank Philippines)
Formerly SeaBank Philippines, MariBank rebranded in late 2025 and was ranked #1 among all PH banks by Forbes in 2026. Backed by Sea Group (Shopee/Garena), it pays 3.25% p.a. daily with no maintaining balance, and its MariCard earns up to ₱1,000 cashback/month with 0% forex markup — the strongest debit card in this list.
2026 Digital Bank Comparison Matrix
| FEATURE | MariBankSea Group | MayaVoyager | GoTymeGokongwei | TonikNeobank | UNO DigitalUNOAsia | UnionDigitalUnionBank | OFBankLandBank |
|---|---|---|---|---|---|---|---|
| Savings (base) | 3.25%3.75% above ₱1M | 3.0% p.a. | 3.0% p.a. | 1.0% p.a.regular acct (cut Jun 2026) | 3.5% p.a. | 3.0–3.25% | 0.05% |
| Max savings rate | 3.75%above ₱1M, no conditions | Up to 15%missions; up to 8% Personal Goals | 3.0%flat, no conditions, no cap | 4.5%group stash (3+ people) | 3.5%flat, no conditions | 3.25%UD Save Individual | 0.05% |
| Time deposit | 3.75%interest paid upfront | Up to 5.5% | — | Up to 5.0%various terms | Up to 5.5%UNOBoost / UNOEarn | Up to 3.15% | — |
| InstaPay fee | 50 free/mo₱15 after limit | Freeon qualified transactions | 20 free/mo₱9 after | ₱15no free quota | ₱8free via GSave | Low feefree within UnionBank ecosystem | ₱15–₱25app / ATM |
| Physical card | ₱49MariCard — cashback debit | Free₱250 deposit + ₱500 spend | Freeinstant kiosk | ₱300by request | Freew/ initial deposit | In-app only | Freefor OFWs |
| Interest credited | Daily | Daily | Daily | Daily | Daily | Daily | Monthly |
| Investments | Savings + TD only | Crypto, Stocks, Funds | PH Stocks (DragonFi) | Loans / Credit | Deposits / Credit | Corporate / Loans | Remittance / Bonds |
| ATM withdrawal | Standard BancNet | ₱15–₱18 | FreeRobinsons ATMs | ₱15–₱18 | ₱15–₱18 | N/A | FreeLandbank ATMs |
| Forex / overseas | 0% forex markup | Standard rate | Standard rate | Standard rate | Standard rate | Standard rate | OFW remittance |
| Rewards | Up to ₱1,000 cashback/mo | Maya Points | GoRewards | Bonus interest | Cashback promos | UnionBank pts | None |
| Best for | Daily spenders + travelers | Active spenders | Passive savers | Yield hunters | GCash users | Loan seekers | OFWs & families |
Which Digital Bank Is Right for You?
For the "Mission-Oriented"
Choose Maya if you're disciplined enough to route your monthly bills (Meralco, groceries, etc.) through the app to unlock the top-tier 15% p.a. rate.
For the "Passive Saver"
Choose GoTyme for the most fuss-free savings. At 3.0% p.a. flat with no missions, no caps, no minimum balance, and no strings attached — your money just grows, every single day.
For the "Yield Hunter"
Choose Tonik or UNO Digital. Tonik's Group Stash hits 4.5% p.a. with no lock-up, and its time deposits go up to 5.0% p.a. UNO offers a flat 3.5% with no conditions, plus UNOBoost time deposits up to 5.5% p.a.
For the "Daily Spender & Traveler"
Choose MariBank. The MariCard earns up to ₱1,000 cashback per month on debit card spend, with zero forex markup and a one-time ₱49 card fee — the most internationally usable card in this list, and the only one that rewards everyday spending without a credit card.
For the "Transfer-Heavy" User
Choose MariBank (50 free InstaPay/PESONet per month — the highest quota of any PH digital bank) or GoTyme (20 free/month). Maya also offers free transfers on qualified transactions if you're already in their ecosystem.
For the "GCash Power User"
Choose UNO Digital. As the primary partner for GSave, you can move money between your high-yield UNO account and GCash wallet for ₱0–₱8, bypassing fees other banks charge.
For the "Global Pinoy"
Choose OFBank for seamless fee-free remittance via Landbank's network. Or pair with MariBank's 0% forex card for day-to-day overseas spending.
The "3-2-1" Diversification Strategy
The smartest financial setup in the Philippines in 2026 — spread across platforms for maximum protection and yield.
Digital Banks
Stay under the ₱1M PDIC limit per bank. Stack benefits: MariBank for daily spending and cashback, GoTyme for passive growth, Tonik for your high-yield locked stash.
Traditional Banks
Maintain BDO, BPI, or Metrobank accounts for large ATM networks, manager's checks, and long-term credit history for housing or car loans.
Redundancy Goal
Never let a single app outage lock you out of your life. A traditional debit card ensures you can still pay for dinner or gas during any digital bank downtime.
All 7 banks are BSP-licensed and PDIC-insured up to ₱1M. Sign up takes under 5 minutes — just one valid ID and a smartphone.
Frequently Asked Questions
Which digital bank has the highest interest rate in the Philippines in 2026?
Is MariBank the best digital bank in the Philippines?
Are digital banks in the Philippines safe and government-insured?
How much tax do I pay on savings interest in the Philippines?
What is the difference between InstaPay and PESONet?
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