In today’s financial landscape, the right savings account can significantly influence your financial health and money management strategies. It helps you build a stable financial foundation, prepare for future expenses, and achieve your financial goals. Without a savings account to set aside your money in, you may miss out on opportunities to grow your wealth or face difficulties in meeting long-term financial objectives.
Fortunately, Maya Savings provides a modern alternative to traditional savings accounts. An offering of the leading digital bank in the Philippines, Maya Savings caters to the banking needs and preferences of today’s tech-savvy banking customers. It also offers several advantages that make Maya Savings the best savings account in the Philippines, especially for those looking to optimize their savings strategy.
In this article, we’ll explore the key reasons why switching to Maya Savings is a practical decision for your financial future.
1. You’ll Earn Higher Interest Rates with Maya Savings
One of the most attractive features of Maya Savings is its competitive interest rates. Compared to many traditional banks that offer very little interest rates of less than 0.25% p.a, Maya Savings offers a much higher base interest rate of 3.5% p.a. You can also further enhance your savings, all the way up to 15% interest p.a. by buying airtime load, paying bills, or using your Maya Wallet or Maya Easy Credit for various purchases.
With Maya’s high-interest savings bank account, you’d earn more interest on the same amount as you would in traditional savings accounts. As a result, you’ll be able to achieve your financial goals faster, whether you’re saving for a rainy day, a big purchase, or in preparation for your future.
2. It’s Easy to Open a Maya Savings Account
Another excellent reason you have to open a savings bank account with Maya is that the process is as effortless as possible. You can complete the entire process online, which eliminates the need for physical paperwork or trips to a bank branch. You also won’t need to spend valuable time waiting in line.
Typically, the process begins with downloading the Maya app and submitting a copy of one valid ID card. Acceptable IDs include a passport, a driver’s license, a government UMID, and a postal ID. You’ll also need to fill out your personal details before you can start saving. If you already have the latest version of the app, you just have to open the Maya app and tap “Savings.” Then, on the inner page, tap "Start Maya Savings," and the rest of the steps are as straightforward as they can get. You can immediately begin saving money afterward.
3. It’s Very Convenient to Deposit and Transfer Money
Maya Savings also offers unparalleled convenience when it comes to managing your money. Depositing funds into your account can be done effortlessly from your Maya Wallet, instantly and for free. You can also deposit money from other banks and e-wallets via PESONet and InstaPay.
Fund transfers are just as simple, with options available for immediate transfers to other Maya Savings accounts. The best part of this process is that it’s free and can be done easily through the app. You also don’t have to feel limited since Maya Savings lets you quickly transfer money to other banks and e-wallets via PESONet and InstaPay. Transferring from Maya Savings account to other banks or e-wallets via PESONet is free, while transferring from Instapay have minimal fees. Even so, this flexibility ensures that you have full control over your money without the constraints of traditional banking hours or physical branch locations.
4. Maya Savings Has Enhanced Savings Tools and Features That Support Your Saving Goals
One of the standout aspects of Maya Savings is its suite of tools that encourage saving. In the case of Maya Personal Goals, it’s a goal-based savings solution that lets you budget and organize your money for the things you want. You can use this tool to save funds to buy tickets for concerts and other experiences, purchase a new gadget, or pay for a much-needed vacation.
The process is easy, too. All you have to do is go to your “Savings” dashboard and tap “Create a personal goal now.” Then, set up your goal by assigning a name, due date, and goal amount. Take note that you can create up to five goal accounts in your Savings dashboard. This gives you more control over what you want to save for and the specific amount. From here, you can start funding your Personal Goals by seamlessly depositing from your Maya Savings, Maya Wallet, or other banks and other e-wallets.
Moreover, Maya Personal Goals can help grow your money. When you deposit your money into your personal goal account, you can earn a guaranteed 4% interest p.a. This ensures you get the most out of your money while allowing you to reach your goals faster.
In addition to saving through Maya Personal Goals, you can also take advantage of Time Deposit Plus. It’s a time-based banking account that lets you grow what extra money you might have. With a goal amount and target date in mind, this feature allows you to save anytime you want. Simply tap “Time Deposit Plus” in your Maya Savings dashboard, and choose how you want to save. Select a term, add a target amount, and enter a name for this savings account. Once you open a Time Deposit Plus account, you can start depositing any amount at any time until you reach your target amount and date.
What makes Time Deposit Plus accounts great is that you have the opportunity to grow your money by earning a guaranteed 3.5% p.a., which you can boost up to 5.75% p.a. when you reach your target amount. You can also deposit money into your Time Deposit account seamlessly from your Maya Savings account, wallet, or other banks and e-wallets.
You don’t have to think twice when it comes to making the switch to Maya Savings. With its numerous advantages, Maya makes it easy for you to start saving while providing you with efficient ways to manage your finances. So, don’t miss out on the opportunity to experience the benefits of Maya Savings—switch today and take control of your financial future!
