OwnBank, a new mobile banking platform, has been launched and offers the highest interest savings rate of up to 8% per annum.

The OwnBank app is now available for download in the Philippines via the Google Play Store for Android, App Store for Apple devices, and HUAWEI AppGallery. Users can create a Savings Account with zero maintaining balance and no minimum deposit.

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To gain the 8% annual interest rate, users only have to open a seven-day new-users Time Deposit account and transfer it to their Own It or OwnBank Time Deposit.

The OwnBank Time Deposit account gives users up to 7.5% per annum with flexible terms of up to one year and an easy withdrawal system.

Meanwhile, Own It offers 6% per annum where users earn savings interest credited daily.

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Moreover, the mobile bank offers free money transfers to other OwnBank accounts and other e-wallets and major banks via PESONet, InstaPay, and more.

The service also highlights how you can use your account to top up credits for Steam, Razer Gold, Mobile Legends, Roblox, and more.

You can also use it to purchase prepaid loads, bill payments, and more. Future updates will enable card payments, QR code payments, and direct bank debit payments.

For security, OwnBank utilizes a special AI-powered system, multi-factor authentication for transactions, and advanced data protection.

For a quick background, OwnBank is PDIC-insured and used to be The Rural Bank of Cavite City, Inc., before it was transformed with the help of Streetcomer Group.

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