Tonik, a digital bank, increased its Time Deposit (TD) interest rate to 6%-8% for a minimum deposit of PHP 5,000. Depositors don’t need to have a maintaining balance or promo code to enjoy these upgrades.
Tonik now offers depositors 6% for 6 months, 7% for 9 months, and 8% for 12 months. Tonik said it aims to make high-yield savings accessible to everyone who wants to open a TD account.
“Whether you’re new to saving or already a seasoned investor, these enhancements offer real, simple savings that grow,” the bank said in a media release.
Here’s what it offers.
• Bigger deposit caps. Customers can now open TDs of up to ₱250,000 per account, with a maximum of five active TDs, making it possible to invest up to ₱1.25 million across all terms.
• Flat 6% for 6 months. A straightforward, no-condition rate for customers who want short-term savings without the hassle. No Average Daily Balance (ADB) required.
• “6-7-8” rates that win. These interest rates — 6% (6 months), 7% (9 months), 8% (12 months) — are complemented by 6% for 18- and 24-month terms. All available directly in the Tonik app with just a few taps.
• Simple and transparent UX. The Tonik app shows real-time interest calculations in Philippine peso, so depositors know exactly how much they are earning. Funds are automatically credited at maturity, and customers retain full control over rollover settings.
Customers can track their interest growth in real time, with clear calculations and simple terms. Once the term ends, the funds are automatically credited to the account, giving customers full control over their rollover options.
