Here’s what you need to know about Maya Time Deposit Plus
MAYA TIME DEPOSIT PLUS – This article will teach you about Maya’s time-based savings account and will also know who can open an account.
The Time Deposit Plus is a time-based savings account that lets you earn a boosted interest rate when you reach your target amount. It is a product of Maya Bank, Inc.
With this, you can keep your money for 3, 6, or 12 months and also earn interest on deposits of up to PHP 1,000,000. Each Time Deposit Plus account has its own account number.
This product is different from your Savings account or your Personal Goals account as you can have up to 5 active Time Deposit Plus accounts.
Who can open a Time Deposit Plus account?
You can start a Time Deposit Plus account if you’re a Maya user with an upgraded account and you have an updated and valid customer information.
Also, you need to have a Savings account before opening a Time Deposit Plus account because your accumulated amount will be automatically credited to your Savings account once you reach your target date or when you cancel your Time Deposit Plus account.
When it comes to interest rate, the Time Deposit Plus earns you a base interest rate of 3.5% p.a. credited to your account monthly. You will earn an additional boosted interest rate based on your target date once you reach your target amount.
Keep in mind that all earned interest rates are applied to deposits of up to PHP 1,000,000 and boosted interest rate will only start accrual once goal amount is reached. Also, interest rates may be subject to change.
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