Maya Business Deposit accounts earn an interest of 2.5% p.a. for end-of-day balances up to PHP 750,000,000.00, which is accrued daily but awarded on the first day of the succeeding month.
Here's a sample interest computation:
End-of-day Balance as of May 30: PHP 100,000.00
Interest (End-of-day Balance * 2.5% / 365): PHP 6.85
Accrued Interest as of May 30: PHP 6.85
End-of-day Balance as of May 31: PHP 200,000.00
Interest (End-of-day Balance * 2.5% / 365): PHP 13.70
Accrued Interest as of May 31: PHP 20.55 (PHP 6.85 + PHP 13.70)
Interest Payout on June 1: PHP 20.55 (PHP 6.85 + PHP 13.70)
Withholding Tax: PHP 4.11
Net Interest Earned: PHP 16.44
Changes on interest rates will be announced and will take effect immediately.
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