15 BEST High Interest Savings Accounts (2021)

 

Are you looking for high interest savings accounts that can help you double your money? 

Well, you came on a right place!

I want to tell you that saving money is so important nowadays because it helps you bring closer to your financial goals. No matter where you came from, your age, gender, religion, ethnicity, financial status, you have prioritize saving money for you to have a brighter and better future.

Most banks offers an interest rate of 0.1% or even lower for savings accounts which is quite annoying sometimes. Who would like to save with that very low interest rate? Isn’t it annoying?

Good thing, there are quite good and reputable banks that offers high interest savings accounts to individuals who wants to save money. The best thing is that you can open a high interest savings account with them without even visiting a physical bank because everything can be done online. Less paperworks and stress free!

These high interest savings accounts gives you 10 times or even 20 times higher interest rates compared to other savings accounts. Isn’t it so amazing?

A high interest savings account is the best choice for you if you want to grow your money for your personal needs and even build  your own emergency fund. These helps you achieve your life goals and ambitions too!

        Here are the 15 highest interest savings accounts:

15 Highest Savings Accounts (2020)

1.ING Bank Savings Account

Interest Rate: 4%

Balance to Earn Interest: None

ING Bank is a full digital bank regulated by the Bangkok Sentral ng Pilipinas (BSP) and a proud member of Philippine Deposit Insurance Corporation (PDIC). In fact, they offer the highest savings interest rate of 4% per annum. Also, no initial deposit and maintaining balance required!

If you want to save your money with ING Bank, you have two options to deposit funds to your account. The first method is via check deposit and the second method is via bank transfer. You don’t have to visit any bank anymore since everything is done online.

Also, you have to take note that the interest rate is subject to 20% withholding tax. 

2.GSave 

Interest Rate:3.1%

Balance to Earn Interest: None

GSave is a savings account offered by Gcash in partnership with the CIMB Bank. It aims to help more Filipinos save more money helping them to achieve their financial goals in life. However, GSave is only accessed via the Gcash application. So, if you’re an existing user of Gcash and you want to save money and at the same time earn a higher interest rate, then GSave is the best savings account for you.

You have to take note that there’s no minimum initial deposit and no maintaining balance. You can save any amount anytime anywhere. Also, there’s no annual fees so this may be the best choice for you if want to grow your savings.

If ever you want to withdraw funds from your savings account, you can withdraw anytime anywhere. You have unlimited withdrawals without any charges and fees.

Another advantage of this savings account is that it pays you the interest rate in every end of the month. So, you will really see your money grow month after month.

In addition, in terms of the monthly interest rate credited to your savings account, it is subjected to 20% withholding tax.

 

3. CIMB Bank UpSave Savings Account

Interest Rate: 3%

Balance to Earn Interest: None

UpSave Savings Account is another savings account offered by the one of the ASEAN’s largest banks, CIMB Bank. It doesn’t require an initial deposit and a maintaining balance. Any amount you deposit to your account earns an interest rate.

In terms of withdrawals, you have unlimited FREE withdrawals without any any charges and fees. You also have to take note that there is a 20% withholding tax imposed on the interest you earn.

 

 4. Citibank  Peso Bonus Saver 

Interest Rate: 2.04%

Balance to Earn Interest: PHP 50,000

Citibank Peso Bonus Saver is a savings account that earns a higher interest rate when the account holder deposits not less than an amount of PHP 5,000 per month. Each time the depositor increases his or her savings, the interest rate increases.

 

5. BPI Advance Savings Account with Passbook 

Interest Rate: 1%

Balance to Earn Interest: PHP 100,000

This savings account offered by BPI Family Savings Bank is a high interest savings account that comes with a passbook that you can use at BPI Express Online for easy and less hassle account monitoring. You must take note that the higher your daily balance, the higher the interest rate credited to your savings account.

 

6. Equicom Kiddie Builders Savings Account 

Interest Rate: 1%

Balance to Earn Interest: PHP 1,000

Equicom Kiddie Builders Savings is a high interest savings account dedicated for children who wants to save money. It has a low initial deposit of PHP 500 and a low maintaining balance of PHP 500.

If you want your children to build the habit of saving, then this high interest savings account is the best option for you. Its interest rate is 3x higher compared to other savings accounts offered by commercial banks.

 

7.  Sterling Bayani OFW Savings

Account Interest Rate: 1%

Balance to Earn Interest: PHP 2,000

Sterling Bayani OFW Savings is a special high interest savings account for Overseas Filipino Workers (OFW) working abroad. This savings account does not require an initial deposit and maintaining balance. An account holder only need an amount of PHP 2,000 to earn an interest.

For OFWs to deposit on their savings account, they have to send money via iRemit or wire transfer. The money will then be deposited to their savings account.

 

8. Security Bank eSecure Online Savings Account 

Interest Rate: 1%

Balance to Earn Interest: PHP 50,000 

Security Bank eSecure Savings is a high interest savings account that is easy to open and manage. You only need an amount of PHP 500 to open an account. In addition, the interest rates depends on the account balance. 

Each depositor must take note that once you withdraw any amount from your savings account more than once in a month, the interest rate will go down to 0.10%.

 

9. Citibank Peso High Rate Saver 

Interest Rate: 0.85%

Balance to Earn Interest: PHP 100,000

Citibank Peso High Rate Saver is a high interest savings account that suitable for individuals with lots of money. Same with BPI Advance Savings Account, the higher your account balance, the higher the interest rate your savings account will earn.

 

10. Citibank e-Savings Account

Interest Rate: 0.75%

Balance to earn interest: PHP 100,000

Citibank e-Savings account is a high interest savings account with an initial deposit of PHP 100,000. Withdrawals from your savings account are not free when you already withdrew two times within the month. Additional fees will be charged to your savings account each time you make any withdrawals.

 

11. BPI Maxi Savings with Debit Card 

Interest Rate: 0.625

Balance to Earn Interest: PHP 500,000

BPI Maxi-Saver Savings is a high interest savings account that comes with a debit card that you can use to withdraw funds from any ATM machines 24/7. Interest rate can go up to 0.750% once you reached an amount of 1 million and above. Plus, if you didn’t withdraw any amount within the month, you will get an interest rate of 0.50% as a bonus.

 

12. Sterling Solo Savings Account 

Interest Rate: 0.50%

Balance to Earn Interest: PHP 5,000

Sterling Solo Savings is a high interest savings account that aims to help you save more money and at the same time it earns a higher interest rate per annum. Account opening is very quick and easy and doesn’t require lots of paperworks. In fact, you can open a savings account online with your valid ID.

You can also withdraw funds via over the counter, ATM machines, BancNet Online and Sterling Bank Online.

In addition, interest is credited to your savings account in a monthly basis.

 

13. Equicom ATM Savings Account 

Interest Rate: 0.50%

Balance to Earn Interest: PHP 5,000

Equicom ATM Savings is a high interest savings account that comes with an ATM card that you can use to withdraw funds from any ATM machines nationwide. Once you reached an amount of PHP 5,000 on your savings account, your account will start to earn an interest.

 

14. BPI Direct Maxi-One Checking 

Interest Rate: 0.50%

Balance to Earn Interest: PHP 25,000

BPI Direct Maxi-One Checking is a high interest savings account that you can access from any ATM machines in over 210 countries worldwide. 

With this high interest savings account, you can transfer funds anytime anywhere, pay bills, and reorder checkbooks without visiting a physical bank.

You can also monitor your funds by downloading your electronic statement via online banking or wait for your bank statement to be mailed on your home address.

 

15. BPI Jumpstart Savings Account 

Interest Rate: 0.50%

Balance to Earn Interest: PHP 1,000

BPI Jumpstart Savings is a high interest savings account that is offered by BPI Family Savings Bank with a lowest initial deposit of PHP 100. Once you reached an amount of PHP 1000, your savings account will start to earn an interest rate.

Withdrawals are free and you can withdraw any amount anytime, anywhere in any BPI Family Savings branches nationwide.

Conclusion

Now, I’d like to hear from you!

Which of the high interest savings account struck you the most?

Or maybe I forgot to mention some of your favorite high interest savings accounts.

Either way, let me know by leaving a comment below right now.

Also, don’t forget to share this on your social media accounts because this can absolutely motivate your friends to save their own money!

 

Sources:

      ING Bank (website)

        CIMB Bank (website)

BPI Express Online 

Equicom Savings Bank

Sterling Bank Asia

        Citibank