Rural Bank

Salmon Unveils Market-Leading 8.88% Deposit Rate

Manila, February 28, 2024 - Salmon, a financial services company that owns and operates in the Philippines a licensed bank (Rural Bank of Sta. Rosa/Laguna) as well as several lending companies, today announces the launch of its “early bird” savings offering.

The offering provides Filipino consumers with the unique opportunity to save money at a market-leading 8.88% interest rate. Accessible to all 12-month time deposit customers with savings in excess of PHP500,000, the offer is exclusively available at branches of the Rural Bank of Sta. Rosa/Laguna.

This market-leading savings rate underscores Salmon’s commitment to expanding financial inclusion by empowering Filipino consumers with access to fair rates on their personal savings. Salmon plans to extend the offer to further locations across the Philippines upon receipt of the necessary regulatory approvals.

Raffy Montemayor, Co-founder and Philippines Business Head at Salmon, commented:

"When it comes to saving money with Salmon, we ask prospective customers two questions: first, do they want to live a more prosperous life, and second, is their current bank helping them do so? Salmon sets itself apart by its commitment to the latter, with our latest ‘early bird’ savings offering a testament to this. The market-leading 8.88% savings rate, which we affectionately called the ‘’luckiest deal in the Philippines’’, will deliver tangible benefits to Salmon customers, enabling them to take charge of their finances and improve their lives."

About Salmon
Salmon is a financial services company dedicated to expanding financial inclusion by providing customers with cutting-edge, customer-centric, AI and data-driven banking solutions. As the owner and operator of the Rural Bank of Sta. Rosa/Laguna, which was established in 1963, Salmon is on a mission to empower underserved communities across Southeast Asia. Salmon is supported by a top notch sponsor and investor base that includes the sovereign wealth fund of Abu Dhabi (ADQ) and other blue-chip international and Filipino investors.

Media contacts
Salmon: [email protected]