Comparative Analysis of the Best Interest-Earning Digital Wallet Banking Applications in Philippines Applying Time Value of Money Principles
DOI :
https://doi.org/10.70970/cx3anx64Mots-clés :
Digital banking, Time Value of Money, Future Value, interest rates, Philippines, financial inclusion, wealth accumulation, multi-criteria scoringRésumé
Aims: To evaluate the long-term wealth accumulation potential of interest-earning digital wallet banking applications in the Philippines through Time Value of Money (TVM) principles, incorporating after-tax yields, transaction costs, and multi-criteria scoring. Study Design: Quantitative-comparative research design based on secondary data analysis and mathematical modeling using the TVM framework. Coverage of the Study: Philippines, using digital wallet banking interest rate and product data for the period 2019–2026.
Methodology: Deposit data and interest rate structures from 12 Philippine digital banking platforms were analyzed as of June 2026. Future Value (FV) and Present Value (PV) computations were applied to a standardized ₱100,000 initial deposit with annual compounding, 20% final withholding tax, and platform-specific transaction costs. A multi-criteria scoring framework evaluated each platform across five weighted criteria: effective net yield, accessibility, transaction cost efficiency, regulatory safety, and liquidity.
Results: TVM projections revealed substantial differences in 10-year wealth accumulation. Maya Bank's Boosted Savings Rate (15% p.a.) generated the highest future value of ₱310,584.82, while Tonik Bank's 12-Month Time Deposit (8.0% p.a.) ranked second at ₱185,958.61. OFBank (0.05% p.a.) yielded a near-zero net gain of only ₱400.72. Multi-criteria scoring identified Tonik Solo Stash and OwnBank as top-ranked platforms (composite score: 4.48), reflecting competitive yields, unconditional accessibility, and full liquidity.
Conclusion: Philippine digital banking platforms exhibit wide disparities in savings outcomes driven by after-tax interest rate differentials and behavioral conditions. Depositors should prioritize unconditional, competitive-rate platforms, as TVM-guided selection can substantially improve long-term financial outcomes for Filipino depositors.
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(c) Copyright Nathan Ama (Author) 2026
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