A GoTyme card. Handout

MANILA -- Digital bank GoTyme said it now has 5 million customers.

In a statement, the lender said it hit the 5 million customer mark in just a little over two years since its launch in October 2022, making it one of the fastest-growing banks in the Philippines.

GoTyme said it is celebrating this milestone by bringing back its 5 percent annual savings rate from January 1 to February 26, 2025. The lender cut its rate to 4 percent per annum in March as it aligned itself with Bangko Sentral policies and current economic conditions.

"Looking ahead to 2025, we plan to further accelerate growth with the aim of making banking beautiful for over 9 million customers by the end of the year,” said GoTyme chief executive officer (CEO)Nate Clarke.

GoTyme co-CEO Albert Tinio said the company is now looking forward to offering loan products to its users.

"With the launch of our Buy Now, Pay Later (BNPL) product, we’re giving customers the flexibility to manage purchases in easy, low-fee installments," he said.

GoTyme hopes to break even by 2025 and be profitable by 2026, Clarke earlier said.

GoTyme eyes profitability in 2026

The bank’s shareholders have also recently acquired fintech salary lender SAVii, which offers a payroll-enabled suite of financial products to companies. One of the new offerings this year is the earned wage access (EWA) feature to employees of select companies – enabling employees to access their pay every day.

The bank has also allowed Filipinos to open an account using a foreign SIM so they can easily remittances back home.

GoTyme taps coin deposit machines