Digital banking platform Maya recently launched a new savings strategy option that offers customers a way to help gradually enhance their savings and effectively manage their funds.
"Maya is dedicated to improving the financial well-being of Filipinos. Our all-in-one digital bank app simplifies wealth-building, making it more effortless and rewarding," remarked Maya Group President Shailesh Baidwan in a statement.
By opening a Maya Time Deposit Plus account, users can set savings goals beginning with any amount, and select appropriate terms that will best help them reach their financial targets.
The terms options include three months at 5.50 percent per annum, six months at six percent, or 12 months at 5.75 percent.
"The Maya Time Deposit Plus represents our latest innovation to make financial growth widely accessible and empowering for all,” said Baidwan.
Individual users can open up to five Time Deposit Plus accounts with a maximum balance of P1 million per account, with interest credited monthly directly to those accounts.

To encourage users to save, the e-commerce platform gives badges to users that have progressed, reached or accomplished their set goals.
Money can be transferred to the account from the Maya Wallet with no extra fees, or via other online payment channels such as InstaPay or PESONet.
Earnings made from the deposit plus accounts may also be reinvested in Maya Funds, Stocks, and Crypto, or other daily transactions.