Monday, April 15, 2024

OwnBank mobile app offers Pinoys highest savings interest rate yet

OwnBank, the newest mobile banking player in the country, is seeking to make an immediate impact in the industry by offering the highest savings interest rate yet of 8% per annum.

Founded in 1956 as Own Bank, The Rural Bank of Cavite City, 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 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.

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:

● 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.

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

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.

OwnBank users will also soon 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.

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.

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