GCash, the leading mobile wallet in the Philippines, and CIMB Bank, the top provider of digital banking services, are offering their users an interest rate of up to 8% p.a. on GSave until January 31, 2023. This is currently the highest interest rate available in the market.
Eligible customers who have opened their accounts with the bank for more than 60 days are entitled to the 8% p.a. interest rate, based on the difference in total average daily balance (ADB) from the previous month. This includes the 2.6% p.a. for GSave accounts and the 4% p.a. promo rate applicable to the first P200,000 ADB.
To calculate their ADB, customers need to add their daily balance at the end of each day for the qualifying month and divide it by the number of days in the qualifying month.
For customers with multiple deposit accounts, the interest rate will be computed based on their Total ADB for GSave accounts for the qualifying month.
GCash, with its vision of “finance for all,” provides unbanked and underserved Filipinos with access to a savings account that requires no initial deposit, maintaining balance, or lock-in period through GSave and CIMB Bank.
To open a GSave account, simply log in to the GCash app, tap GSave by CIMB Bank in the GSave Hub section, and follow the steps to “Open a Savings Account.”
With over 71 million registered users, GCash empowers Filipinos to grow their finances and secure a better future.
For more information, visit www.gcash.com.ph.
