GCash, the mobile wallet of Globe Telecom has rolled out offerings for GCash Save Money which seek to provide Filipinos with more rewarding ways to save and accumulate long-term wealth in a safe and secure way amid the challenges presented by the pandemic.
GCash Save Money goes beyond saving and draws closer into an investment platform with its limited-time promo of 4% per annum interest growth rate for GCash Save Money account holders.
On top of that, GCash Save Money also provides free insurance coverage for its account holders.
Both the special rate promo and the free insurance will apply to users who maintain a minimum of P100,000 in savings in their GCash Save Money accounts.
“We at GCash are committed to uplift the lives of our users further by providing them with more rewarding ways to save money. Now that we are experiencing huge hardships during these times, these efforts by GCash Save Money are deep rooted in our vision of providing finance for all,” said GCash President Martha Sazon.
The special 4% per annum interest rate promo runs from June 1, 2020 to September 30, 2020. The promo of 4% interest rate per annum will be merited to the GCash Save Money account holders who maintain a balance of P100,000 and up.
Regular GCash Save Money accounts have a standard interest rate of 3.1% per annum, still the best-in-the industry when compared to traditional banks, which offer an average of 0.25% interest per year.
For GCash Save Money Free Insurance, account holders should have an average daily balance of at least 100,000 in a given month. Fulfillment of such will make the
GCash Save Money account holder eligible for free insurance during the next month.
The Free Insurance offer is exclusive to GCash Save Money account holders until July 1, 2021. The insurance package includes free life insurance coverage equal to their ADB up to P1 million, zero fees, zero monthly premium, and no medical check up required.
Powered by CIMB Bank Philippines, GCash Save Money Money is a feature of GCash which functions as a savings account. Compared to opening a traditional bank savings account,
GCash Save Money is a simple, easy, effective and seamless way to do savings without the hassle of bringing documents to physical bank branches.
With its remarkable interest rates, GCash Save Money presents users the opportunity to increase their savings effortlessly at around the same pace with existing investment instruments in the market currently.
Using GCash Save Money is safe and secure as each account is insured by the Philippine Deposit Insurance Corp. (PDIC) for up to P500,000 and is also regulated
by the Bangko Sentral ng Pilipinas (BSP).
“GCash champions the easy, seamless, safe and secure mobile wallet experience. It is one of the factors why we are leading in terms of digital payments. It also remains as our loudest battlecry, to first and foremost protect our account holders above everything else,” Sazon said.
“As GCash’s user base continues to grow by the minute, our commitment is to continue incorporating more protection and security to an already secured system like GCash,” Sazon added.
Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.