GoTyme Bank: Earn Up to 3.5% Interest Rate and Exclusive Rewards

These days, it appears like digital banks are catching up to traditional banks and developing more quickly.

 

I was looking for a bank that guaranteed a high interest rate.  GoTyme is what drew my attention after evaluating a few banks that made my top list. You can earn 3.5% interest on your Go Save account annually if interest is paid each month. The Philippine Deposit Insurance Corporation (PDIC) insures your deposits up to P1,000,000 per depositor.

To open an account, you can opt to open via their kiosk or via app.

Download the GoTyme Bank app from the Google Play Store (for Android) or App Store (for iOS) to open an account through the app. Click "Sign Up" to start the registration process after starting the app. You can follow and find the steps and procedure here (attach link).

Creating an account through a kiosk, you can approach their customer service personnel to assist you better. 

You can have your debit card printed at the kiosk instantly, I had my card printed by myself just entering few details of my account.

 

They also offer a USD Time Deposit that earns 2.0% annual interest rate for 3 months and 2.5% annual interest rate for 6 months.

Without a dollar account, you can create a USD Time Deposit with GoTyme. You can start the process for creating the USD Time Deposit by converting your GoTyme Bank account's PHP (Philippine Peso) from your GoTyme Bank account to the current exchange rate shown in the mobile bank application. Opening a multi-currency time deposit account is easy if you just follow the instructions on your GoTyme Bank platform.            

            I tried opening a USD Time Deposit of $2 to check how it works, It was January 6, 2025 when I opened the $2 time deposit and it will mature on April 6, 2025.

USD Time Deposit Update: It was bought Php 58.08. during the maturity time of $2, the exchange value was weakening, Php 56.49.  If you don't want to cash out, the original exchange value will retained, and it will continue earning interest, but since they have an update of the new interest rate, it will be at 2.0% from 5.0%.

 

NOTE: I did not mind the exchange rate during buying because I just wanted to open a USD Time Deposit. But keep in mind that you need to check the value of the dollar before converting your Peso to USD to have a better yield.

 

You can use the debit card to earn rewards points on all your purchases locally, or on your travels abroad. It can be converted as a money credit but there would be a percentage deduction, or you can use points to pay.

 

You can get an exclusive discount when you wine and dine using your GoTyme bank visa debit card at any participating shops and restaurants.