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  • Latest Seabank Interest Rate Adjustment

Latest Seabank Interest Rate Adjustment

Posted on July 4, 2023July 4, 2023 By Kuya Well No Comments on Latest Seabank Interest Rate Adjustment
High-Yield Savings Accounts, Investment and Finance, Posts

Seabank just announced yesterday that they’re adjusting their interest rate from 5% per annum down to a 4.5% p.a. interest rate.

What does this mean?

Deposits/balances of up to 250K will earn a 4.5% per annum interest rate while balances beyond the first 250K will earn an interest of 3% p.a.

When does this take effect?

The adjusted rate of 4.5% p.a. will start on July 13.

Reason for the changes

Seabank declared that the adjustment is to keep the following features:

  • 15 Free transfers weekly
  • 3% off on load purchases

Kuro-kuro ni Kuya Well

With the upcoming interest rate adjustment, GoTyme would start to shine brighter since it offers a base interest rate of 5% p.a. And that’s without any cap. That means, regardless of the amount you put in GoTyme Savings, it will earn a 5% per annum interest rate. If you haven’t noticed, the other leading digital banks will only allow you to earn a higher interest rate up to a certain amount. Then, any balances above the threshold will earn anywhere between 2.5 – 3%.

Para sa akin, I will continue to deposit on all four: Seabank, GoTyme, CIMB/GSave, and Maya. Equal amounts ang nilalagay ko. This is until I reach my target amount for Emergency Funds. After which, idadagdag ko na sya pambili ng stocks.

Related posts:

  1. Emergency Fund 101: How to Prepare for Life’s Unforeseen Events
  2. How to Handle Failed InstaPay Transactions During Maintenance
  3. Maya Savings Account Interest Rates Updated: What You Need to Know (March 2023)
  4. How to avoid getting scammed in GCash
Tags: Seabank updated interest rate

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