Digital bank app Maya has announced its 10% interest p.a. limited-time promo. Check out the promo details and mechanics.
Overview
With this limited-time promo, Maya users can get a higher interest rate by making everyday payments. Boost your interest up to 10 percent interest rate per annum (p.a.) daily simply by spending a total of PHP 35,000 when you buy load, pay bills, or use Maya to pay via QR, card, or mobile number. Note that 10% p.a. daily interest applies to your first PHP 100,000 deposit balance. Users can also earn 5, 6, or 8% interest p.a. with a minimum spend of PHP 250, PHP 1,000, and PHP 25,000, respectively. Promo runs from March 7 to April 30, 2023. [Update] Promo extended until October 31, 2023.
Maya 10% interest p.a. promo mechanics
This promo is open to all new and existing Maya Savings users who will do the accumulated spend requirements with any of the following transactions done on the Maya Wallet within the promo period:
- Pay via QR
- Buy Airtime Load
- Pay a bill in the app
- Pay via Mobile Number
- Pay with your Maya Card
All Maya Savings accountholders can enjoy a base interest rate of 3.5% p.a. on balances up to PHP 5 million and increase their interest rate further based on the spend requirement per tier. Check out the table below.
*Anything beyond PHP 100,000 earns 3.5% interest p.a. starting October 1, 2023, until further notice.
*Any balance in excess of Php 5,000,000 will not get any interest.
If a Maya Savings user who just opened a Savings account did not complete any of the transactions above on the Maya Wallet, he/she would still be enjoying a 3.5 percent interest rate p.a. on his/her Maya Savings account.
Please see the sample scenario below:
Accountholder will see on the Savings dashboard his/her qualification duration for the bonus interest rate he is qualified for Maya Savings on the same day of his/her successful transaction.
- An accountholder who qualified within the month of August (starting August 1) will get his/her bonus interest rate until August 31, 2023.
- An accountholder who qualified within the month of August will get his/her bonus interest rate until August 31, 2023.
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For more details about the promo, you can visit mayabank.ph/10percentboost.