E-wallet Maya has shifted its interest income payments to allow its depositors to earn from their savings on a daily basis.
The online bank owned by bilyonaryo Manny Pangilinan announced Monday (October 3) that interest earnings will be credited to customers every midnight. This translates to a day-to-day effective rate of 0.0016% of the firm’s annual 6% interest on savings.
The interest income is credited daily and reported under the Maya Savings transaction tab, followed by a deduction of a 20% tax on the daily earnings. This is similar to the strategy of SeaBank, another up-and-coming e-wallet firm owned by the parent company of Shopee.
Clients are reminded to update their Maya app to avail of the daily interest payouts.
Nagiisip ako magpalit ng bank, ito na ata ang sign ko. https://t.co/EoWmcj1fQq
— e (@entryagain) October 3, 2022
Seabank’s interest rate is down to 5% (from 6%), while Maya remains at 6%. Plus, it is now Maya that gives it daily and with Bitcoin cash back when used for payment. Sana mas madami pa sa sunod! Thank you, Lord! 🙌 pic.twitter.com/DMOdsAV6Ql
— Samir Sergs (@samirsergs) October 3, 2022