Here’s how much interest will your money earn with Maya Time Deposit Plus
MAYA TIME DEPOSIT PLUS – This article will teach you about the interest that your money will earn.
This product lets you earn a boosted interest rate when you reach your target amount. Each time-based savings account has its own account number and is different from your Maya Personal Goal or Maya Savings accounts.
But how much interest will your money earn with this product?
This product earns you a base interest rate of 3.5% per annum that is credited to your account monthly. You will earn an additional boosted interest rate based on your target date once you reach your target amount.
According to Maya, 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.
Keep in mind that interest rates may be subject to change. You will be notified of the change on Maya Bank’s official website and/or via in-app notification, SMS, email, or any of our other official channels.
You may also visit: Maya Time Deposit Plus — How To Deposit Money To Your Account?
On Tuesday, Maya Bank said in its advisory that users can choose from 3 Time Deposit Plus options — three months at 5.50% per annum, six months at 6.00%, or 12 months at 5.75% — with users setting their own target amount.
The Time Deposit Plus was made available on January 5, allowing users to open up to 5 deposit accounts with a PHP 1-million maximum account balance. The interest is credited into the accounts monthly.
According to Maya Group president Shailesh Baidwan, the company is dedicated to improving the financial well-being of Filipinos and this product represents their latest innovation to make financial growth “widely accessible and empowering for all”.