Taiwan’s Digital Banks Raise Savings Rates to Woo Volatile-Market Cash

Taiwan’s three digital-only lenders — LINE Bank, Rakuten International Commercial Bank and NEXT BANK — are competing more aggressively for local-currency deposits as the Taiwan dollar faces depreciation pressure and financial markets remain volatile. Longer-dated fixed-rate products let conservative savers lock in returns while giving banks a more stable funding base, making deposits a key battleground as the online lenders seek scale and more active customer relationships.

The latest round has pushed annual rates to at least 2.2%. NEXT BANK on July 23 launched a 12-month new-funds time deposit paying a fixed 2.33%, the highest cited rate, with deposits ranging from NT$10,000 to NT$30 million per customer. The offer runs through Sept. 30 and is capped at NT$2 billion in total. LINE Bank and Rakuten International Commercial Bank are also marketing longer-tenor Taiwan-dollar deposits starting at 2.2%, targeting savers seeking a temporary haven for cash.

Taiwan's digital-only banks are using high-interest time deposits to expand their Taiwan dollar deposit bases. Investors are holding more cash amid stock-market volatility, geopolitical tensions and inflation risks. While conventional banks offer about 1.7%–1.75% on Taiwan dollar time deposits, LINE Bank, Rakuten International Commercial Bank and NEXT BANK are offering rates above 2% to attract new funds and strengthen customer loyalty.

Rakuten International Commercial Bank said on June 22 that it would begin offering six-month and 15-month time deposits at an annual rate of 2.2% from June 25. Each tenor has a total quota of NT$2 billion, with the six-month product capped at NT$2 million per customer. LINE Bank offers 2.3% on 13-month deposits of new funds, capped at NT$30 million per customer. Through the end of June, NEXT BANK is offering 2% on six-month deposits, with a minimum of NT$1,000 and a maximum of NT$3 million. The program has a total quota of NT$2 billion.

As year-end bonuses and Lunar New Year gift money flow back into accounts after the holiday, digital banks are using short-term, high-interest demand-deposit offers to attract new customers and deposits. Competition extends beyond advertised rates to deposit caps, promotional periods and eligibility requirements. NEXT BANK, O-Bank, Taishin Richart and Rakuten International Commercial Bank are using digital accounts and products such as multiplier vouchers to expand their customer bases. Most of the high rates are subject to time and deposit limits and should not be treated as long-term returns.

Reports on February 26, 2026, showed that NEXT BANK customers could activate an N倍券 between February 23 and 27 to earn 8.88% annual interest for eight days on up to NT$8,888. New O-Bank customers could earn 8.8% for two months on up to NT$100,000, with a full NT$200,000 deposit generating about NT$1,820. From March 2, new Taishin Richart customers could earn 3.5% on up to NT$300,000. Rakuten offered new customers 15% for 10 days on up to NT$50,000, provided their accounts were approved by April 29.