Tonik

Tonik is a digital bank in the Philippines that customers open and run entirely from an app. It offers savings products with interest of up to 6 per cent a year, including time deposits, personal Solo Stashes and shared Group Stashes, alongside consumer lending such as a Credit Builder Loan of up to 50,000 pesos and repayment-flexibility features. Onboarding is fully digital and quick. Tonik describes itself as the country's first digital bank and says it is the first standalone digital bank in the Philippines to reach profitability.