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GCash, CIMB Bank offer the highest interest rate of 8% p.a. via GSave
The country’s leading mobile wallet GCash, and CIMB Bank, the country’s leading digital banking services provider, are offering their users up to 8% interest rate per annum on GSave until January 31, 2023.
The offer, which is currently the highest interest rate available in the market, will be available for existing customers of the bank who opened their accounts for more than 60 calendar days at the start of the qualifying month. It will be applicable to the difference in total average daily balance (ADB) from the previous month.
The promo is also inclusive of other promo and base rates for ADB growth including the 2.6% p.a. for GSave accounts. This is also inclusive of the 4% p.a. promo rate applicable to the first P200,000 ADB. Any incremental ADB growth will receive 8% p.a. wherein the total reward given to a customer will be equivalent to 8% p.a.
To calculate their ADB, customers need to get the total of their daily balance at the end of each day for the qualifying month and divide them by the total number of days in the qualifying month.
For customers who have multiple deposit accounts with CIMB Bank, the interest rate reward will be computed based on the qualifying month's Total ADB for GSave accounts.
With CIMB on GSave, GCash provides Filipinos, especially the unbanked and underserved, with the opportunity to open a savings account that requires no initial deposit, maintaining balance, or lock-in period.
To start their journey towards their financial goals via GSave, users simply need to log in to their GCash account and tap GSave by CIMB Bank which can be found in the GSave Hub section. Then, click "Open a Savings Account." On the Save Money Registration page, tick the box under CIMB Bank Policies to agree to the Terms and Conditions and tap Open a Savings Account. Lastly, tap "OK" after the confirmation message has been displayed.
With over 71 million registered users, GCash continues to give more Filipinos an opportunity to grow their finances and build a better future for themselves and their loved ones, in line with its clear vision of “finance for all”.
For more information, visit www.gcash.com.ph
About Mynt
Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 Finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
Mynt and GCash are staunch supporters of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
For more information, please contact:
Bruce Rodriguez, Head of Business Communications
Corporate Communications
Legal Disclaimer & Safe Harbor Statement
This press release is for informational purposes only and does not constitute, or form part of, any offer, solicitation, or invitation to sell, issue, purchase, or subscribe for any securities in the Philippines, the United States, or any other jurisdiction. No securities of Mynt, Inc. have been or will be registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. There will be no public offering of the securities of the Company in the United States. No money, securities or other consideration is being solicited by this document or the information contained herein and, if sent in response to this document or the information contained herein, will not be accepted. Any potential initial public offering and listing in the Philippines, if pursued, remain fully subject to prevailing market conditions and regulatory approvals, including the registration requirements of the Philippine Securities and Exchange Commission and the listing rules of the Philippine Stock Exchange, Inc., and there can be no assurance that any such filings will be made or that any offering or listing will be consummated. This document contains forward-looking statements that involve inherent risks and uncertainties; actual results, timelines, and outcomes may differ materially from those projected due to shifting market dynamics, economic environments, and regulatory updates.
