Here’s a list of banks in the Philippines, categorized by type:
Top Banks by Assets:
- Universal and Commercial Banks:
- BDO Unibank: PHP 4.67 trillion in assets, largest bank in the Philippines
- Land Bank of the Philippines: PHP 3.43 trillion in assets, government-owned bank serving agriculture and rural communities
- Bank of the Philippine Islands (BPI): PHP 3.30 trillion in assets, oldest bank in the Philippines offering diverse financial products.
- Metro Politan Bank and Trust Company –n Bank & Trust Company (Metrobank): PHP 3.22 trillion in assets, strong reputation for corporate banking and foreign exchange services
- China Banking Corporation: PHP 1.78 trillion in assets, leading commercial bank with sizable corporate banking portfolio
- Other Major Banks:
- Security Bank Corporation: PHP 1.43 trillion in assets, known for excellent customer service and innovative products
- Philippine National Bank (PNB): PHP 1.25 trillion in assets, government-owned bank serving government agencies and individual clients
- Union Bank of the Philippines: PHP 990.20 billion in assets, leader in digital banking and innovation
- Development Bank of the Philippines (DBP): PHP 963.61 billion in assets, government-owned bank focusing on infrastructure development and financing
Digital Banks:
- Maya Bank: PHP 49.97 billion in assets, recognized as the Philippines’ “Best Bank” by Forbes in 2025
- Gotyme Bank: PHP 35.30 billion in assets
- UnionDigital Bank: PHP 17.40 billion in assets
- Tonik Digital Bank: PHP 7.02 billion in assets
Savings Banks:
- Philippine Savings Bank (PSBank): PHP 220.56 billion in assets
- China Bank Savings: PHP 194.96 billion in assets
- City Savings Bank: PHP 153.88 billion in assets
- BPI Direct BanKo: PHP 57.36 billion in assets
Rural Banks:
- BDO Network Bank: PHP 130.94 billion in assets
- EastWest Rural Bank: PHP 41.82 billion in assets
- Seabank Philippines: PHP 37.33 billion in assets
- CARD Bank: PHP 31.41 billion in assets ¹.
Which bank offers the best online services?
The best digital banks in the Philippines for online services are:
- Top Picks
- Maya Bank: Offers a comprehensive digital banking platform with savings accounts, credit, crypto, and personal loans. Its user-friendly app integrates all financial services in one place, making it ideal for freelancers, online sellers, and digital natives. Interest rates reach up to 15% per annum on savings promos.
- GoTyme Bank: Provides a hassle-free digital banking experience with real-time human customer service, 24/7 hotline, and human bank ambassadors. It offers 5% interest on savings accounts with no minimum required and a free debit card delivered instantly.
- CIMB Bank: Pairs high-yield savings accounts with insurance, offering up to 8% interest per annum through promo mechanics. It’s ideal for those seeking stability and international reputation.
- Other Notable Options
- SeaBank: Perfect for online shoppers and Shopee users, offering 4% interest on savings and fast fund transfers. It’s part of the Sea Group, giving it strong brand credibility and seamless integration with the e-commerce ecosystem.
- OwnBank: Offers competitive interest rates up to 6% per annum, with no minimum initial deposit required. It’s designed for tech-savvy Filipinos seeking user-friendly digital banking services.
- Tonik Bank: Provides flexible savings options and high time deposit returns, with interest rates reaching up to 6% per annum. It’s ideal for those seeking long-term savings and controlled spending.
- Key Features to Consider
- Interest Rates: Look for banks offering high-interest rates on savings accounts and time deposits.
- User Experience: Choose banks with user-friendly apps and responsive customer service.
- Security: Ensure the bank is regulated by the Bangko Sentral ng Pilipinas (BSP) and insured by the Philippine Deposit Insurance Corporation (PDIC).
- Features and Services: Consider banks offering a range of financial services, including loans, credit cards, and investment options ¹ ².
What are the difference between commercial and thrift banks?
Commercial banks and thrift banks serve different purposes and offer distinct financial services. Here’s a breakdown of their key differences:
Commercial Banks:
- Purpose: Provide a wide range of financial services to individuals, businesses, and corporations.
- Services: Offer checking and savings accounts, loans, credit cards, investment products, and foreign exchange services.
- Scope: Typically larger and more diversified, with a broader customer base.
- Examples: BDO Unibank, Bank of the Philippine Islands (BPI), Metropolitan Bank & Trust Company (Metrobank).
Thrift Banks:
- Purpose: Focus on accepting deposits and providing loans, particularly for housing and consumer financing.
- Services: Offer savings accounts, time deposits, and loans, with a emphasis on residential mortgage lending.
- Scope: Typically smaller and more specialized, with a focus on serving specific communities or customer segments.
- Examples: Philippine Savings Bank (PSBank), China Bank Savings, City Savings Bank.
Key Differences:
- Business Model: Commercial banks have a more diversified business model, while thrift banks focus on traditional banking services.
- Lending Focus: Commercial banks provide loans to a wide range of customers, including businesses and corporations, while thrift banks focus on consumer and housing loans.
- Regulation: Both commercial and thrift banks are regulated by the Bangko Sentral ng Pilipinas (BSP), but commercial banks are subject to more stringent requirements due to their larger size and scope.
In summary, commercial banks offer a broader range of financial services to a wider customer base, while thrift banks specialize in traditional banking services with a focus on consumer and housing loans [1].
Help me find banks with the best interest rates?
Here are some top banks in the Philippines with the best interest rates:
Digital Banks
- Maya Bank: Offers 6% – 10% interest per annum on savings accounts with balances up to PHP 5 million. Interest earned can reach up to 10% when you pay with Maya.
- GoTyme Bank: Provides 5% interest on savings accounts with no minimum required balance and a free debit card.
- CIMB Bank: Offers 4% – 8% interest per annum on savings accounts, with no minimum balance requirement for its Upsave Account.
- Tonik Bank: Gives 4% interest per annum on its Solo Stash and up to 6% on time deposits.
- SeaBank: Offers 5% interest on savings.
Universal/Commercial Banks
- BDO: Offers 0.25% – 1.25% interest on savings accounts, with higher rates for larger balances.
- BPI: Provides 0.0625% – 0.125% interest on savings accounts.
- Landbank: Offers 0.10% – 2.5% interest on savings accounts.
- Security Bank: Offers 0.10% – 1.20% interest on savings accounts.
- RCBC: Offers 0.10% – 0.38% interest on savings accounts.
Specific Savings Accounts
- CIMB Upsave Account: 2.5% – 8% per annum with no minimum balance requirement.
- CIMB GSave Account: 4.1% per annum with no minimum balance requirement.
- RCBC DiskarTech: Up to 6.5% per annum for balances below PHP 50,000.
- BDO Optimum Savings Account: 1.25% interest rate for balances above PHP 30,000.
- Security Bank eSecure Savings Account: 1.20% interest rate with a minimum balance requirement of PHP 500 ¹ ².
