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OwnBank is the digital banking arm of The Rural Bank of Cavite City, Inc., a long-established lender founded in 1956. In October 2023, it officially launched its mobile banking app, transforming itself from a traditional rural bank into a tech-driven financial platform.



While not yet a licensed “digital bank” under the Bangko Sentral ng Pilipinas’ digital banking framework, OwnBank operates under its rural bank license, is regulated by the BSP, and all deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) up to ₱1,000,000 per depositor.

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Services Offered by OwnBank

OwnBank offers a variety of services through its mobile app, including:

  • Savings Accounts – with competitive interest rates credited daily.

  • Time Deposits – short- and long-term placements with high fixed returns.

  • Fund Transfers – via InstaPay and PESONet, free for in-network transfers.

  • Bills Payment & Load Purchases – pay utilities, credit cards, and buy mobile load directly from the app.

  • Debit Card Services – virtual and physical Mastercard debit cards for online and in-store purchases.

  • Upcoming Features – QR code payments, remittance services, and expanded payment integration.



Interest You Can Earn

One of OwnBank’s main selling points is its high interest rates:

  • 7-Day Time Deposit Promo for New Users: Up to 8% p.a.

  • Flexible Time Deposit: Up to 7.5% p.a. with options to withdraw before maturity.

  • Own It Savings Account: Around 6% p.a., credited daily, with no lock-in period.

These rates are among the highest in the Philippine banking industry, making OwnBank especially attractive for savers looking to maximize returns.




How to Open an OwnBank Account

Opening an account with OwnBank is done entirely through its mobile app:

1. Download the OwnBank App


2. Register Your Account

  • Provide your full name, mobile number, and email address.

  • Set up a secure password.

3. Verify Your Identity (KYC)

  • Prepare a valid government-issued ID (Philippine passport, driver’s license, UMID, etc.).

  • Take a selfie and complete the live verification steps.

4. Fund Your Account

  • Deposit money via InstaPay, PESONet, or over-the-counter partner channels.

5. Start Saving or Investing

  • Choose between the Own It daily interest savings or fixed-term time deposits.


💡 Tip: Verification can sometimes take a while based on user reports, so ensure your ID photos are clear and that your mobile connection is stable during KYC.

If you are looking for low-interest loans, here's my list of Personal Loans With the Lowest Interest Rates in the Philippines.


Tips for Using Digital Banks Wisely


Stay Within PDIC Coverage: Keep your deposits within ₱1,000,000 per bank to ensure full insurance protection.

Diversify Your Accounts: Don’t put all your savings in one digital bank; spread across 2–3 to reduce risk from service outages.

Enable Security Features: Use two-factor authentication, biometric logins, and strong passwords.

Monitor Interest Rate Changes: Digital banks can adjust rates anytime, so check periodically.

Have a Backup Access to Funds: Keep an account in a traditional bank for emergencies in case the app experiences downtime.





OwnBank’s Edge Over Other Digital Banks

OwnBank stands out mainly for its exceptionally high interest rates and daily crediting of savings interest, which lets your money compound faster. Its flexible time deposit options with high yields give it an edge over many digital banks that only offer standard savings accounts.

Additionally, its tie-up with Mastercard makes it easy to spend your funds locally or abroad, both online and in physical stores—something not all digital banks in the Philippines currently provide. For savers who want maximum earnings with the convenience of digital banking, OwnBank can be an attractive option, especially if paired with a traditional bank for backup liquidity.



Other Digital Banks in the Philippines

Visit my list of Top Digital Savings Banks in the Philippines to learn more!

OwnBank Philippines: Profile and Services (High-Yield Savings and Time Deposits)


OwnBank is the digital banking arm of The Rural Bank of Cavite City, Inc., a long-established lender founded in 1956. In October 2023, it officially launched its mobile banking app, transforming itself from a traditional rural bank into a tech-driven financial platform.



While not yet a licensed “digital bank” under the Bangko Sentral ng Pilipinas’ digital banking framework, OwnBank operates under its rural bank license, is regulated by the BSP, and all deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) up to ₱1,000,000 per depositor.

Loading...

Services Offered by OwnBank

OwnBank offers a variety of services through its mobile app, including:

  • Savings Accounts – with competitive interest rates credited daily.

  • Time Deposits – short- and long-term placements with high fixed returns.

  • Fund Transfers – via InstaPay and PESONet, free for in-network transfers.

  • Bills Payment & Load Purchases – pay utilities, credit cards, and buy mobile load directly from the app.

  • Debit Card Services – virtual and physical Mastercard debit cards for online and in-store purchases.

  • Upcoming Features – QR code payments, remittance services, and expanded payment integration.



Interest You Can Earn

One of OwnBank’s main selling points is its high interest rates:

  • 7-Day Time Deposit Promo for New Users: Up to 8% p.a.

  • Flexible Time Deposit: Up to 7.5% p.a. with options to withdraw before maturity.

  • Own It Savings Account: Around 6% p.a., credited daily, with no lock-in period.

These rates are among the highest in the Philippine banking industry, making OwnBank especially attractive for savers looking to maximize returns.




How to Open an OwnBank Account

Opening an account with OwnBank is done entirely through its mobile app:

1. Download the OwnBank App


2. Register Your Account

  • Provide your full name, mobile number, and email address.

  • Set up a secure password.

3. Verify Your Identity (KYC)

  • Prepare a valid government-issued ID (Philippine passport, driver’s license, UMID, etc.).

  • Take a selfie and complete the live verification steps.

4. Fund Your Account

  • Deposit money via InstaPay, PESONet, or over-the-counter partner channels.

5. Start Saving or Investing

  • Choose between the Own It daily interest savings or fixed-term time deposits.


💡 Tip: Verification can sometimes take a while based on user reports, so ensure your ID photos are clear and that your mobile connection is stable during KYC.

If you are looking for low-interest loans, here's my list of Personal Loans With the Lowest Interest Rates in the Philippines.


Tips for Using Digital Banks Wisely


Stay Within PDIC Coverage: Keep your deposits within ₱1,000,000 per bank to ensure full insurance protection.

Diversify Your Accounts: Don’t put all your savings in one digital bank; spread across 2–3 to reduce risk from service outages.

Enable Security Features: Use two-factor authentication, biometric logins, and strong passwords.

Monitor Interest Rate Changes: Digital banks can adjust rates anytime, so check periodically.

Have a Backup Access to Funds: Keep an account in a traditional bank for emergencies in case the app experiences downtime.





OwnBank’s Edge Over Other Digital Banks

OwnBank stands out mainly for its exceptionally high interest rates and daily crediting of savings interest, which lets your money compound faster. Its flexible time deposit options with high yields give it an edge over many digital banks that only offer standard savings accounts.

Additionally, its tie-up with Mastercard makes it easy to spend your funds locally or abroad, both online and in physical stores—something not all digital banks in the Philippines currently provide. For savers who want maximum earnings with the convenience of digital banking, OwnBank can be an attractive option, especially if paired with a traditional bank for backup liquidity.



Other Digital Banks in the Philippines

Visit my list of Top Digital Savings Banks in the Philippines to learn more!

App Digital Banking Money

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