In a recent announcement, SeaBank revealed that it will be adjusting its high-interest rate to 4.5% per annum (p.a.) for the first PHP 250,000. This new rate will take effect on July 13, 2023.
Previously, SeaBank offered interest rates as high as 6%, but later reduced it to 5% starting from March 15. Now, customers will experience a further decrease to 4.5%.
SeaBank emphasized that any amount exceeding PHP 250,000 will continue to earn a 3% p.a. interest rate. Additionally, the bank highlighted various key features such as free transfers to other banks, e-wallets, round-the-clock customer service, and discounts on load top-ups.
This adjustment by SeaBank follows a recent move by Maya Bank, which decreased its base interest rate for savings from 4% to 3.5% p.a. just last month.
