Seabank daily interest rate have changed from 5% p.a. now becomes 3% beginning March 2023.
The new daily interest rate was announced in early February through Seabank newsletter. According to Seabank, they will move the 3% interest rate bracket from the present 500,000 to only 250,000 and up.
Previously, if you have a savings account balance of 0 – 500,000, it has an interest rate of 5% p.a. and any excess amount of 500,000 will have at least 3% p.a. daily interest rate.
Starting March 15, 2023, Seabank savings accounts with a balance of 0 to 250,000 will get 5% interest rate p.a. However, any amount excess of 250,000 will earn only 3% interest rate per annum.
Here’s a sample Seabank daily interest rate computation.
To learn more about daily interest rate computation, please visit this page.
How to get Seabank savings account
To register a new Seabank account, you need to download and install the Seabank app from App Store, Google Playstore or Huawei AppGallery. Open the app and create an account.
In opening new account, you can choose from logging in by Shopee, signup with mobile number or continue with apple account. Then you have to undergo facial biometrics enrollment, valid ID submission and filling up personal details.
Once you have successfully created an account, you can now use the app for fund transfer in and out, pay by QR code scan and top up mobile load. Mobile reload is 1% off of the total amount.
All Seabank saving accounts will continue to credit interest earnings at midnight daily.
SeaBank gives you free transfer to SeaBank accounts, transfer to other banks and e-wallets through InstaPay and PESONet.
To learn more about account opening, updated interest rates and more, please get in touch with Seabank at +632 8891 7929 / contact@cs.seabank.com.ph or you can directly tap chat with Seabank from your app.
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Takeaway
Apart from the 5% savings account interest rate, you can also enjoy the free fund transfer from your Seabank account. You could have a mobile reload discount, detailed transaction history and real-time processing.
However, Seabank doesn’t have a debit card, so there is no ATM withdrawal at this time. So, you can only transfer in and out of this bank account.
