Gokongwei fintech GoTyme Bank announced that its customers can now take advantage of the 5% annual savings interest rate on their Go Save account, a game changing feature that allows individuals to open up to five savings accounts based on their personal capacity and financial goals.
“Our vision is clear as we introduce next-level banking as part of the daily lives of our customers. We commit ourselves to improving the quality of life of every Filipino,” says GoTyme Bank co-CEO and chief commercial officer Albert Tinio. “We want you to save, grow your hard-earned money and enjoy it. We want your savings to ensure the security and well-being of your family and loved ones in the years to come.”
With Go Save, customers can save and plan ahead without the need for a deposit caps, no missions, no limits, and minimum balance requirements to earn the 5% interest rate. Using this feature, growing money is secure and hassle-free.
“GoTyme Bank understands that people expect more from what is on offer from existing banks. Our 5% simple savings is another big step by GoTyme to deliver on its promise to offer next-level banking that unlocks the financial potential of all Filipinos,” says GoTyme president and CEO Nate Clarke.
Clarke, however, said that the 5% interest rate is likely not forever. “Actually, the rate could go up or down. Our goal here is actually to provide a sustainable rate based on BSP rates.”
Regarding plans to update or improve the Go Save interface and experiences, Tinio said they are constantly updating the app on periodic but on a regular basis. “As we introduce the new features, you’ll see tweaks and updates in the app anywhere from the user interface to how it comes out or how it moves. We’re also updating the app on a monthly basis, aligning it with such themes as Christmas, Valentines.” GoTyme has 340,000 depositors since it was launched in October last year. It has deployed a total of 145 kiosks in Robinsons supermarket nationwide and will double to roughly 300 in the next couple of months, and estimated to expand to over 400 by the end of the year. These kiosks were coupled with more than 500 locations nationwide where GoTyme users can deposit and withdraw over the counter for free at any Robinsons supermarket/department stores.
