Tonik Bank is a fully digital neobank based in the Philippines, known for being the country's first licensed neobank by the Bangko Sentral ng Pilipinas (BSP). It operates entirely online, offering a range of digital financial services, including high-interest savings accounts, time deposits, and loan products. Unlike traditional banks, Tonik focuses on providing quick, convenient, and mobile-first banking services through its app, aiming to make banking more accessible, especially for the unbanked or underserved populations in the Philippines. The bank is known for its competitive interest rates and streamlined credit-building options. Some of the app's key features: 1. High-Interest Savings Accounts: Solo Savings Account: Provides one of the highest interest rates in the market, allowing customers to grow their money faster. Group Stash: Enables users to save together with family or friends while earning high interest. Everyone contributes, and all members can track savings progress. 2. Time Deposit Accounts: Tonik Time Deposit: Offers a higher fixed interest rate for locking in savings for a set period, with flexible terms ranging from 6 to 24 months. 3. Quick and Easy Account Opening: Fully digital onboarding that takes just a few minutes using the app, with no need for physical branch visits. 4. Loan Products: Quick Loan: Tonik provides accessible personal loans with a simple application process and fast approval. Shop Installment Loan: Borrow up to ₱100,000 when you visit one of Tonik's partner stores now and pay later. 5. Physical and Virtual Debit Cards: Tonik offers a virtual debit card for online purchases and a physical debit card for in-person transactions, both powered by Mastercard. 6. Bills Payment and Fund Transfers: Users can pay bills directly through the app, and send money to other banks and e-wallets via PESONet and InstaPay. 7. 24/7 Customer Support: Round-the-clock customer care available through chat or phone support to assist with account inquiries and issues. 8. No Minimum Balance or Fees: Tonik does not require a minimum balance to open or maintain an account and generally avoids hidden fees.

Tonik Digital Bank

Philippines' first neobank

Philippines' first neobank