
As the new year kicks off, SeaBank, formerly Banco Laguna, Inc., established as a rural bank in 1965, has introduced an updated interest rate structure for its digital banking services.
Previously offering 4.5% p.a., which was later adjusted to 4.25% p.a., the bank has now revised its interest rates to 3% to 4% p.a. for account balances exceeding certain thresholds.
For clarity, balances up to PHP400,000 will still enjoy 4% p.a., while amounts exceeding PHP400,000 will earn interest at 3% p.a.
This adjustment will officially take effect starting January 9, 2025.
On the other hand, the bank continues offering 15 free fund transfers to traditional and digital banks every week. Account holders also benefit from daily interest accrual, providing more value for their savings.
What are your thoughts on this change? Will the updated rates influence how you manage your savings this year? Let us know!
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