Gone are the days when tracking your savings meant jotting down amounts in a notebook, updating a spreadsheet manually, or keeping a passbook that you had to bring to the bank. These traditional methods are becoming less practical now that mobile banking gives you instant access to your savings history whenever you need it. Today, you can seamlessly open savings account online and enjoy the convenience of having your money right at your fingertips, complete with real-time updates and effortless monitoring.
That level of accessibility is exactly what Maya offers. As the #1 digital bank in the Philippines, Maya makes it simple to open savings account with just a few taps on the Maya app. With minimal requirements and no maintaining balance, Maya removes common barriers that often prevent people from starting their savings journey. Still on the fence about opening an online savings account? Here are some reasons why managing your savings digitally is easier and more effective, helping you understand the benefits clearly and make the decision with confidence.
1. You Get Real-Time Access to Your Savings
One of the biggest advantages of online banking is immediacy. Instead of waiting for a trip to the bank to update a passbook or manually updating a spreadsheet, you can open your app and see your balance instantly. Real-time access ensures you always know how much you've saved and lets you make quick, informed decisions, whether you're transferring funds or simply monitoring your progress.
Digital banks like Maya make this even more convenient. Maya Savings is a high-interest savings account that keeps your money accessible while earning a competitive base interest of 3.5% p.a., higher than what most traditional banks offer. You can even boost your interest up to 15% by using Maya for simple transactions such as buying prepaid load, paying bills, completing QR Ph payments, shopping online, or borrowing with Maya Easy Credit. This feature makes Maya Savings a strong contender for the best high-interest savings account in the Philippines, all while letting you manage your savings anytime, anywhere.
2. Your Transactions Are Tracked Automatically
With traditional methods, every transaction requires you to record it yourself, which can be tedious and prone to errors. Forgetting even a single entry can throw off your entire record. Digital banking removes that hassle because all transactions are logged automatically as soon as they happen. For instance, Maya ensures that every deposit and transfer is recorded instantly in the app. This automatic tracking gives you a complete picture of your financial activity without any extra effort, allowing you to focus on growing your savings rather than manually keeping tabs on every transaction.
3. You Can Easily Visualize Your Progress
Numbers alone can sometimes feel abstract and uninspiring. Digital savings accounts often include visual tools like charts and progress bars to show how your savings are growing over time. Seeing your progress visually not only makes saving more motivating but also helps you plan ahead.
Maya Time Deposit Plus is a great example of how visualization enhances motivation. Locking your money in a time deposit for a set term can feel frustrating for some, especially when the end date seems so far away. Time Deposit Plus makes it simple to stay on track by providing a clear countdown of days remaining, a display of your interest earnings, and even badges indicating your progress. All Time Deposit Plus accounts earn a guaranteed 3.5% p.a., which can be boosted to 5%, 6%, or 5.5% depending on whether you choose a 3, 6, or 12-month term, respectively. Watching your savings grow alongside the countdown keeps you motivated throughout the full term of your deposit.
4. You Can Set and Monitor Clear Goals
Saving without a goal can feel vague, which makes it harder to stay consistent. Digital banking lets you set specific, measurable targets and track progress easily. Maya Personal Goals, for instance, lets you create up to five goals at a time and set them for up to 180 days. You can then check the progress of each goal directly in your Maya app, giving you a clear idea of whether you’re on track.
What’s more, each goal account earns up to 8% p.a. on balances of up to PHP 100,000, with tiered interest rates that start at 4% for the first PHP 20,000 and gradually increase up to 8% for amounts above PHP 80,000. This gives your savings a meaningful boost while keeping your goals structured and focused.
5. You Receive Helpful Reminders and Notifications
Consistency is key to building good savings habits, but it’s easy to forget deposits or milestones if you have to manually record or check them. Digital banking helps by sending timely notifications, such as alerts when your balance is low or reminders highlighting your progress. For example, you may receive a notification from Maya commending you for meeting a savings target. These prompts act like a virtual coach, keeping you aware of important changes in your account and helping you stay on track with your financial goals.
6. Your Records Stay Safe and Secure
Keeping your savings records safe is an important part of tracking them efficiently. Traditional methods carry risks; lost notebooks, damaged passbooks, or corrupted spreadsheets can make it hard to stay on top of your finances. Digital banking removes these worries by offering secure logins, encrypted transactions, and reliable account recovery options, ensuring your savings and financial information remain protected at all times.
For your peace of mind, Maya goes beyond standard security measures. As a Bangko Sentral ng Pilipinas-supervised financial institution (BSFI), it follows strict regulatory standards, with the Maya app including features like default two-factor authentication and biometric logins for extra protection. All deposits are also insured by the Philippine Deposit Insurance Corporation (PDIC) up to PHP 1,000,000 per depositor. With these safeguards in place, you can confidently track and grow your Time Deposit Plus, Personal Goals, or Maya Savings account without worrying about the safety of your funds or personal data.
Tracking your savings doesn’t have to be complicated or time-consuming. Digital banking makes it easier than ever to build consistent saving habits and take control of your finances. With the right tools and Maya as your banking partner, you can monitor your funds conveniently while enjoying the peace of mind that comes with knowing your money is secure.
