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Starting to save and invest is one of the most important steps you can take toward achieving long-term financial security. Whether you're building an emergency fund, planning for a major life milestone, or simply looking to grow your money over time, getting started early offers significant advantages such as the power of compound interest, better financial habits, and more flexibility to reach your goals.
However, the process can often seem intimidating, and understandably so. With countless options, unfamiliar jargons, and mixed recommendations, it’s easy to feel overwhelmed and unsure of where to begin. That’s why establishing a solid foundation with a simple, easy-to-understand set of financial products can make all the difference. As the #1 digital bank in the Philippines, Maya is especially committed to helping Filipinos who are just beginning to save and invest. Through accessible savings options and helpful guidance, we make sure that every deposit in Maya is a step closer to your financial stability.
With that in mind, let’s explore some essential financial products that deserve a place in every beginner’s toolkit, helping you kickstart your saving and investing journey with greater clarity and confidence.
1. High-Yield Savings Accounts
If you're just starting to save, a high-yield savings account is one of the smartest and safest places to begin. It works much like a regular savings account, but with significantly higher interest rates, allowing your money to grow faster over time. Many of these accounts are available through digital banks like Maya, which often provide better rates than traditional banks.
In particular, Maya offers two convenient savings options: Maya Savings and Maya Personal Goals. Maya Savings is a digital savings account that requires only one valid ID to open and has no minimum balance requirement, making it highly accessible for beginners. It comes with a base interest rate of 3.5% p.a., which can be boosted up to a generous 15% p.a. just by using Maya for everyday transactions like paying bills, buying prepaid load, completing QR Ph transactions, and shopping online. This means you’re growing your savings simply by using the Maya app for things you already do.
Meanwhile, if you're saving with a specific purpose in mind, like purchasing a laptop for work or funding an international trip, Maya Personal Goals might be a better fit. It lets you set up to five individual savings goals, each earning a guaranteed 4% interest p.a. that’s hard to beat. With clearly defined targets and attractive returns, Maya Personal Goals helps you stay motivated and reach your objectives faster, all while managing everything seamlessly within the Maya app.
2. Time Deposit Accounts
Time deposit accounts offer another excellent, low-risk way to grow your savings. They work by locking in a fixed amount of money for a set term in exchange for a guaranteed interest rate. The longer you commit your funds, the higher the return you can expect.
With Maya Time Deposit Plus, you can choose flexible terms of 3, 6, or 12 months, each offering a guaranteed 3.5% p.a. interest. Even better, you can boost that rate up to 5%, 6%, and 5.5% for each respective term by hitting your target amount and due date. This not only accelerates your savings growth but also encourages financial discipline by reducing the temptation to withdraw early. Moreover, you can open up to five time deposit accounts, allowing you to diversify your savings across multiple terms.
When keeping your money in one place for an extended period, it’s natural to worry about its safety. Fortunately, with Maya as your bank, you can put those concerns to rest. Maya is a Bangko Sentral ng Pilipinas-supervised financial institution (BSFI) that prioritizes your security. It offers robust security features such as biometric logins, one-time passwords (OTPs), as well as real-time notifications to give you added transparency and control. Hence, every Maya deposit you make doesn’t just grow, it stays secure as well.
3. Health and Life Insurance
While saving and investing help grow your money, insurance protects your funds and your well-being. Health insurance covers the financial costs of medical emergencies, and life insurance ensures your loved ones are cared for if something happens to you. Although it may not feel urgent when you’re young and healthy, that’s actually the best time to get covered since premiums are lower.
Take the time to compare plans, coverage limits, and premiums across providers. Don’t hesitate to consult a licensed insurance agent as well to help tailor a plan to your lifestyle and goals. With proper protection, you can invest confidently and focus on long-term goals without the fear of unexpected setbacks.
4. Unit Investment Trust Funds (UITFs) and Mutual Funds
If you’re ready to move beyond just saving, UITFs and mutual funds offer beginner-friendly ways to start investing. These funds pool money from multiple investors and are managed by professionals who decide how to allocate assets across stocks, bonds, and other instruments.
What’s great about these products is that they offer instant diversification and don’t require deep knowledge of the market. You can choose funds based on your goals and risk appetite, and you’re able to start investing even with a relatively small amount. It’s a smart, accessible way to learn the ropes of investing while minimizing risk.
5. Modified Pag-IBIG 2 (MP2) Savings Program
The MP2 Savings Program is a voluntary savings plan under the Pag-IBIG Fund that offers higher dividend rates compared to regular savings accounts. It’s government-backed, tax-free, and encourages medium- to long-term saving, with a minimum lock-in period of five years.
This program provides you with a secure way to grow your money while enjoying high returns. Backed by the government, MP2 carries very low risk and allows you to save at your own pace, since contributions are voluntary. It’s an ideal choice if you want to set aside funds for future goals without the unpredictability of market fluctuations.
6. Government Retail Treasury Bonds (RTBs)
Retail Treasury Bonds are government-issued debt instruments used to finance public projects. In return, they pay you fixed interest regularly, usually every quarter, until maturity. RTBs are beginner-friendly because they’re easy to understand, require a relatively low minimum investment, and offer guaranteed returns. RTBs provide a great introduction to fixed-income investing while keeping your capital secure. If you’re looking to earn passive income with minimal risk, this is an excellent entry point.
Starting your financial journey doesn’t have to be complicated. What matters most is taking that first step with the right tools and a clear purpose. As your confidence and knowledge grow, making smarter, bolder financial decisions will eventually become second nature. And with a trustworthy partner like Maya by your side, you’ll have the guidance and support you need to build lasting financial wellness.
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