Here’s what you need to know about Maya Savings fees
MAYA SAVINGS FEES – This article will teach you what you need to know about the list of fees charged to your account.
Offered by Maya Bank, Maya Savings is a digital savings account that has a base interest rate of 3.5% p.a. and users can boost their interest rate up to 10% p.a. starting June 5, 2023 to August 31, 2023.
Maya users with complete or upgraded accounts, plus updated and valid customer information can start a Maya Savings account with Maya Bank.
Here are the list of fees charged to your Maya Savings account as of October 14, 2022:
| Fees & Charges | Amount |
| Dormancy Fee | Waived until further notice |
| Account Closure | Waived until further notice |
| ADB falls below the minimum required | Waived until further notice |
| Bank Statement Generation | Waived until further notice |
| Bank Certificate Generation | Waived until further notice |
| Transfer to Maya wallet | Free |
| Transfer to other Maya Bank Accounts | Free |
| Transfer via InstaPay | PHP 15.00 per transaction |
| Transfer via PESONet | PHP 15.00 per transaction until further notice |
According to Maya, additional fees and charges may be imposed “at a later time” and account holders shall be informed of any changes to the fees and charges imposed on their account “at least 60 days” prior to implementation.
Here are the terms used in the list of fees and charges mentioned above:
- Dormancy Fee is a fee that is charged to your account after five (5) years from last activity.
- Amount Closure is a fee that is charged to your account if the account is closed within 30 days from account opening.
- ADB falls below the minimum required is a fee that is charged to your account if your account’s average daily balance (ADB) falls below the required average daily balance.
- Bank Statement Generation (coming soon) is a fee that is charged to your account for requests to generate bank statements.
- Bank Certificate Generation (coming soon) is a fee that is charged to your account for requests to generate bank certificates.
- Transfer to Maya wallet is a fee that is charged to your account for transactions made to Maya wallets.
- Transfer to Maya wallet is a fee that is charged to your account for transactions made to another Maya Bank account.
- Transfer via InstaPay is a fee that is charged to your account for transactions done through InstaPay.
- Transfer via PESONet is a fee that is charged to your account for transactions done through PESONet.
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