Tonik introduces joint savings for couples: The 'Luv Stash'

Stash and stay together with the 'Luv Stash,' the first and only in the Philippines

MANILA, Philippines, Feb. 19, 2024 /PRNewswire/ -- Love is in the air as Tonik Digital Bank (Tonik), the pioneering digital bank in the Philippines, launches the 'Luv Stash'— the only savings product in the market enabling 2 people to save and earn a 4.5% interest rate.

The Luv Stash is designed to bring couples closer through shared financial goals and exclusive interest rates, without the need to open a joint bank account.

To start a Luv Stash, Tonik customers must complete the following steps:

• Create a Luv Stash with Your Special Someone: All Tonik customers can create a Luv Stash and invite one new Tonik customer to create a Luv Stash—directly from the Tonik App.
• Stash together, stay together: Couple must contribute a minimum of PHP 14 each to the Luv Stash during the promo period from February 1 to February 29, 2024. Sending money into the Luv Stash is free for both users and can be personalized by adding a picture of the common goal or setting target amount—just keep the name 'Luv Stash' because it is a good name to have.

Tonik customers who complete these steps within the Promo Period will be eligible for the 4.5% interest rate with just two savers.

There is more to love as Tonik Bank also offers the Group Stash—allowing groups of 3 or more to pool resources and work towards achieving their collective #SquadGoals—be it for travel, bills, or any other objective. One of the most common uses is for siblings to come together to support their parents financially.

Top-ups into the Group Stash are visible to all Group Stash members, making it easy to calculate the contribution of each member.

For more information on the Luv Stash promo, customers can reach out to Tonik Customer Care through the in-app chat feature in the Tonik App or via customercare@tonikbank.com and +63 2 5322 2645.

Terms and conditions apply. Deposits are insured by PDIC up to ₱500,000 per depositor.
Promo period is from February 1, 2024 to February 29, 2024. 
DTI Fair Trade Permit No. FTEB185528, Series of 2024.

About Tonik
Tonik is the first digital-only neobank in the Philippines, providing loan, deposit, and payment products to consumers on a highly secure digital banking platform.  The neobank operates based on the first digital bank license issued by the Bangko Sentral ng Pilipinas (BSP).  

Tonik is led by a team of retail finance veterans who have previously built and scaled multiple retail banks and fintechs across global emerging markets.  It is backed by top international investors, including Sequoia India, Point72 Ventures, and Mizuho Bank.  Tonik's tech stack is integrated in partnership with world-class banktech vendors including Mastercard, Finastra, Amazon Web Services, Google, Genesys, and Daon. Tonik operates out of hubs in Singapore (HQ), Manila, and Chennai.