UNO Digital Bank Introduces 6.50% P.A. Time Deposits With Up To 2-year Terms Exclusively On Gsave

In order to integrate its services into GSave, UNO Digital Bank has teamed with popular mobile wallet software GCash. Customers of GCash can access UNO Digital Bank goods and open a UNO Digital Bank account directly from the GCash app by using the hashtag #UNOready@GCash. Since it started operating in 2022, UNO Digital Bank has made it one of its goals to offer services to the unbanked population and contribute to the improvement of the financial system by using cutting-edge online banking systems. One of the first Fintech businesses to obtain a digital banking licence from the Banko Sentral ng Pilipinas was the corporation. To make banking more accessible, dependable, and safe, UNO Digital Bank continues to collaborate with reputable and successful players in the banking and financial services sectors.

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Customers can manage their UNO savings accounts with only one app through the GSave Marketplace. The #UNOready savings account, the #UNOboost time deposit account, and/or the #UNOearn time deposit account can all be opened by Filipino nationals who are at least 18 years old, fully verified GCash App users, and have active cell numbers and mailing addresses registered in the Philippines. Users can now easily and for free transfer money from their GCash wallet to their UNO accounts. A high-rate savings account called #UNOReady@GCash offers up to 4.25% interest per year, which is more than what conventional banks now provide. There are no minimum balance requirements, no fees associated with keeping a balance, and interest is credited daily. For a minimum monthly Average Daily Balance (ADB) of PHP10,000.00, users can also receive free life insurance coverage worth PHP50,000. UNO Digital Bank is the first to offer time deposit products in GSave with its #UNOboost@GCash and #UNOearn@GCash accounts, in addition to the #UNOready@GCash services offered. Time deposits with #UNOboost@GCash can earn up to 6.50% interest annually. Clients can choose a term between 3 and 12 months, and #UNOearn@GCash is a high-yield time deposit that offers a guaranteed interest rate of 6.50% per year that can be locked-in for 12 or 24 months. Additionally, it offers monthly interest payments. Clients can deposit up to Php100,000 each tranche and open a maximum of five tranches for each of #UNOboost and #UNOearn.

Amit Malhotra, Chief Business Officer of UNO Digital Bank added “We are a customer centric bank, and all our products and services are designed to cater to our customers’ financial needs. We are initially offering our savings products that will help them grow their money by offering better than standard industry interest rates backed by superior digital experience. Other products and services like loans, insurance, and investment products will soon follow. Our goal is to provide the platform that can help them meet their financial goals in a convenient, simple, and safe manner.”  “I am very excited about this partnership with GCash who have been pioneers of inclusion and innovation in Philippines. Discussions around present & potential opportunities have been very progressive with like-minded approach, and with GCash as our partner, we are well-positioned to create meaningful impact by providing financial inclusion and innovative products to majority of Filipinos. The  77M+ subscribers of GCash will now have access to UNO’s products and services that can help them accelerate the achievement of their financial goals, “said Manish Bhai, Founder & CEO of UNO Digital Bank.

“Our partnership with UNO Digital Bank is in line with GCash’s goal of giving Filipinos a secure and convenient banking experience by being an all-in-one app for all their financial needs, from banking to lifestyle essentials,” said Martha Sazon, GCash’s president and CEO. “Thanks to like-minded partners like UNO, we can make sure that more Filipinos can have access to essential banking services and help them gain financial freedom. ” “Through this partnership with GCash, we will open the door for more people to experience fast, seamless, and well-protected digital transactions so they can avail of high-rate savings products to get started on their financial growth journey. We hope more Filipinos will be able to achieve their financial goals through GSave & UNO Digital Bank,” said Lester Cruz, Head of Liabilities and Payments -Products and Partnerships at UNO Digital Bank.

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