CIMB vs ING vs Komo – Digital Banks Compared (Updated 2021)

CIMB vs ING vs Komo

Which digital bank gives the most interest rate? CIMB, ING and Komo is the top 3 digital banks in the philippines.

Don’t waste time queuing when you can just use your mobile phone to transfer funds online.

Online banking isn’t new in the Philippines and banks continuously upgrade their systems, they now also offer high interest savings account with Digital Banking.

In this post, we will compare the top three digital banks in the Philippines. Each of them has their own pros and cons so it’s up to you to decide which one fits for you.

How to Openvia Mobile Appvia Mobile Appvia Mobile App
Account NameUpSaveSavingsSavings
Promo Interest Rate4.0% until April 30, 20214.0% until Mar 31, 20213.0%
Promo Min. Balance100,000 Php00
PDIC Insured?Yes, up to 500kYes, up to 500kYes, up to 500k
Country of OriginMalaysiaNetherlandsPhilippines (EastWest Bank)
Deposit Methods• GCash
• Cliqq (7/11)
• Bank Transfers (PESONet)
• Check
• Bank Transfers (Instapay/PESONet)
• Bank Transfers (Instapay/PESONet)
Withdrawal • Gcash
• Bank Transfer (PESONet)
• DragonPay
• ATM Withdrawal
• Bank Transfer (Instapay)
• ATM Withdrawal
• Bank Transfer (Instapay)
• ATM Withdrawal
Requirements• Mobile Number
• Government ID
• Mobile Number
• Government ID
• Billing Statement
• Mobile Number 
• Government ID

Digital banks eliminate the need to visit a bank to open an account.  You still follow the same process of opening an account, but in the comfort of your home. Everything is digital.

Just fill out the form within their app. Submit your identification, take a selfie and there, you’ll have your bank account number sent to your email.

These banks are also covered by PDIC, which will insure your money up to 500k.

Digital Banks in the Philippines



  • High Interest Rate
  • Gcash Partner
  • Biometric Login
  • No ATM withdrawal fee


  • UI needs improvement
  • Customer support needs improvement
  • No InstaPay transfers
  • No in-app bank statements
  • Multi-device log in not allowed

If you are looking to pick one, they have a few differences. CIMB offer their promo rate of 4.0% only if you maintain a minimum balance of 100,000 pesos. Otherwise, it falls below to 3.1%.

Read more about CIMB 4% p.a. Special Interest Rate Promo

CIMB also provides a free debit card that you can use to withdraw funds from any ATM. Aside from this, you can also use your Gcash to withdraw your funds.

If you need a statement of account, they don’t provide it in-app as of writing this article. You will need to visit their physical office to request for one.



  • Great user interface
  • InstaPay transfers
  • Biometric Login
  • Free Virtual Card / Debit Card
  • In-app customer support
  • In-app bank statements
  • Cashback and promos


  • Low base interest rate

ING has base rate of 2.5%, the lowest among the three, but they provide 4.0% on deposits that goes beyond the Aug 31st balance of it’s depositors.

Let’s say for instance you have 50k by the end of Aug 31, and you deposit additional 5k on the September 1st, your 50k will have 2.5% interest rate and the 5k will earn at 4% rate.

Read more about ING Save 4% Bonus Interest Rate Promo

ING also recently launched their ING Pay Account, this comes with a free Virtual Card (like Paymaya). You can also request a physical debit card that you can use to withdraw your funds.

Read more about ING Pay Debit Card.

You can also request a Bank Statement or Certificate inside the app.



  • Backed by EastWest Bank
  • InstaPay transfers
  • Biometric Login
  • Free Debit Card
  • In-app bank statement


  • Lack of promos
  • UI needs improvement

Komo, the newest of the three, offers a flat 3%. Not the highest but still a lot better than traditional bank rates which is usually just under 1%. Unlike the other two, Komo currently doesn’t have ongoing promo about their interest rates.

Komo also provides a physical debit card that you can use to withdraw funds from any ATM. Fortunately, you can also request bank statement inside the app.

Read more about Komo

Which one should you get?

There’s no stopping you to get all of these three. Each of them has their own pros and cons that you should weigh before entrusting them your hard-earned money.

Since the insured amount is limited to 500k, diversifying your funds is always a good idea if you are planning to deposit a huge sum of money.

In my experience, CIMB gives the highest interest rate while the ING has the best in-app experience. Komo on the other hand is like the middle ground of good interest rate and app features.

We hope that this comparison gave you an idea where to put your hard-earned money. If you are still undecided, why not just open an account to all of them since it’s free anyway!

Let us know what you think of CIMB, ING and Komo digital banks in the comments below.


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