Building a stable financial foundation is an essential first step toward financial freedom, but the journey doesn’t stop there. Once you’ve created a safety net, the next challenge is finding ways to make your money work for you. Don’t think of growing your wealth as a luxury reserved for just a chosen few. At its core, it’s about creating opportunities, securing your future, and gaining the ability to pursue your goals without financial constraints.
Maya, the Philippines' #1 digital bank app and overall one of the best banks to open an account in the country, understands the importance of making every peso count. With innovative financial solutions designed to maximize your savings and investments, Maya empowers you to take control of your financial journey and grow your wealth in meaningful ways. In this article, we’ll share some lesser-known tips and tricks to help you grow your money effectively from the moment you open a bank account. These strategies are practical, actionable, and can be tailored to suit your financial goals, no matter where you are in your journey.
Consider Switching to a Digital Bank
Many people stick to traditional banks out of familiarity, but they may not realize that there are other more advantageous places to open a bank account in the Philippines. Digital banks offer several advantages, including lower fees, higher interest rates, and better accessibility. You can manage your finances entirely online without having to visit physical branches, which often means faster transactions and fewer hassles. Plus, the country’s best digital banks prioritize cutting-edge security to ensure that their users’ funds and information are protected in online spaces.
Maya exemplifies what a modern digital bank can offer. As a BSP-licensed financial institution, we combine fast, efficient, and convenient mobile banking functions with stringent security measures. We’ve also streamlined the process of how to open a bank account with Maya, so you spend less time worrying about paperwork time and more time enjoying more convenient financial management. Whether you’re saving, investing, or simply making everyday transactions, our robust platform guarantees that you have a seamless and secure experience.
Choose a High-Yield Account for Your Savings
Your savings shouldn’t just sit idle—they should grow. High-yield savings accounts are a great way to make this happen, as they provide significantly better returns than standard accounts. Some accounts even reward consistent saving habits or provide tools to help you reach specific financial goals. These features can make a big difference over time, especially when compounded daily or monthly.
Maya’s savings solutions, including Maya Savings and Maya Personal Goals, are perfect examples of high-yield accounts designed to work smarter for you. Maya Savings offers a base interest rate of 3.5% per annum, with opportunities to boost this rate up to an impressive 15% p.a. by engaging in everyday financial activities through Maya. Meanwhile, Maya Personal Goals lets you create up to five goal-specific savings accounts, each earning a guaranteed 4% interest p.a. credited monthly. These tools not only maximize your savings but also help you stay organized and motivated.
Don’t Underestimate Time Deposits
While many people focus on savings accounts or investments in stocks, time deposits are often overlooked as a reliable and secure option for growing wealth. Time deposits are among the most predictable and stable types of investment you can make, as they have fixed terms and guaranteed returns. This makes them ideal for medium- to long-term financial goals, such as a major purchase you’re aiming to make in the future. They’re also one of the best ways to let your money grow without constant monitoring.
Maya’s Time Deposit Plus elevates this classic savings method with competitive interest rates and unparalleled flexibility. Terms range from 3 to 12 months and you can earn rates as high as 6% per annum. Plus, you can open up to five different time deposit accounts, each of which can earn interest on balances up to PHP 1,000,000. This combination of high returns and flexible terms makes Maya Time Deposit Plus an excellent choice if you’re looking for a foolproof way to grow your savings substantially.
Set Reminders for Your Savings and Investments
Consistency is one of the most important factors in achieving financial growth, yet it’s also one of the hardest to maintain. To stay on track, set a fixed schedule for your savings and investment contributions. Mark reminders on your calendar or set alerts to ensure you never miss a deposit. By making this a regular habit, you’ll build discipline and keep your financial goals moving forward. Treat these scheduled contributions as non-negotiable, just like paying a bill—your future self will thank you!
Explore Alternative Investments alongside Traditional Ones
If your entire portfolio revolves around stocks, bonds, or mutual funds, you might be missing out on opportunities to diversify and achieve higher returns. Alternative investments, such as real estate crowdfunding, REITs (real estate investment trusts), or peer-to-peer lending, come with unique benefits and can help reduce your exposure to the stock market's ups and downs. These options often come with varying levels of risk and reward, so do your research and align them with your financial goals.
Growing your money is a continuous journey that requires thoughtful strategies and consistent action. The more you explore smarter ways to save, invest, and build wealth, the closer you move toward greater financial freedom and security. Start today by taking small, purposeful steps—and consider how Maya’s innovative financial solutions can help you achieve your goals.
