Maya Bank, the integrated digital bank of mobile wallet service Maya (formerly PayMaya), offers a 6% interest p.a. limited-time promo, which runs until August 31, 2022. You can download the Maya app on Google Play, Apple App Store, and Huawei AppGallery.
The official Maya Bank website (https://ift.tt/MxmiLPR) has outlined the mechanics for Maya Savings at a 6 percent per annum interest rate special introductory promo. Check out the details below.
Who is eligible for the promo?
The 6% interest p.a. promo is open to Maya users who opened a Savings Account from April 25 to August 31, 2022.
Eligible users will enjoy a 6% interest rate on their End of Day Balance in their account, which will be reflected on:
- Account Details
- Savings transaction history at the end of the year
- Savings Statement of Account (SOA) at the end of the year
What is the promo period?
The 6% introductory interest rate applies only to Maya Savings Account holders from April 25 to August 31, 2022.
Note that the promo rate will only be applied to deposit balances of up to PHP 5 million. Deposits received more than this amount will not earn any interest.
Sample Computation
Here’s a sample computation of the interest earned by a depositor during the promo period.
- Average Daily Balance of the Savings Account – PHP 10,000
- Interest rate until the end of promo period – 6.0% per annum
- Number of days that the Maya savings account is open during the promo period – 60 days
- Day Count Convention – ACTUAL/365
- Total interest earned during the promo period – PHP 98.63
Interest Earned = PHP 10,000 x 6% x 60 days / 365 days = PHP 98.63
- Interest earned is accrued every day and will be deposited to your Maya Savings account on the first calendar day of each month, minus applicable withholding taxes.
- Average Daily Balance (ADB) is computed as the sum of the End-of-Day balance of the account for each day the account is open during the promo period, divided by the number of days the account is open during the promo period.
How to use Maya Bank?
- Open the Maya app and log in.
- Tap on the Savings tab and click “Start Saving.”
- Review the details, select Confirm, and enter the one-time password (OTP).
- Make a deposit to begin saving money.
You can make deposits to your Maya Savings, and Personal Goals accounts via Pesonet. Further, You can cash in with no transaction fees at over 90K touchpoints, such as Maya Centers, banks, groceries, drug stores, department stores, remittance centers, and more.
To withdraw your money, just transfer your savings to your Maya Card that’s linked to your Maya Wallet. You can activate your Maya Card on the app and get a physical card to withdraw via ATM that accepts VISA or Mastercard.
Also read:
To know more details about the promo, like the terms and conditions, you can visit https://ift.tt/i8rQUgt.
Maya Bank offers 6% interest p.a. limited-time promo
Source: Magandang Gabi Viral
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