• Maybank Foreign Currency Fixed Deposits

    Maybank started operations in Singapore in December 1960 as a fully licensed commercial bank. It successfully established its first local branch in South Bridge. Since its inception the company has continuously grown and expanded, both, in terms of its reach as well as the products and services offered by the bank. In Singapore alone, the bank has 27 service locations that can extensively help their customers meet their financial and banking needs and requirements. To further provide their services with much more convenience to their customers, the bank is spread across 22 Bank Branches and over 35 ATMs in Singapore, located at both, the business districts as well as the suburban estates. The bank strives to provide value added financial services to their customers by offering customizable and innovative banking solutions. To provide their customer base with more convenience, they have harnessed and incorporated the latest technological advances to increase the effectiveness of their networks across the island.

    Foreign Currency Fixed/ Time Deposits offered by Maybank

    Maybank offers its customers two different types of Foreign Currency Fixed Deposits to choose from. They are as follows –

    • Foreign Currency Time Deposit
    • iSaVvy Foreign Currency Time Deposit

    Maybank Foreign Currency Time Deposit

    Using the Foreign Currency Time Deposit, you can diversify your portfolio by secured access to overdraft facilities on your deposit amount. An advantage of Maybank Fixed Deposit is that it is offered at a highly competitive interest and exchange rate.

    Promotion -

    You can enjoy a preferential interest rate on your Maybank Foreign Currency Time Deposit at a high 3.60percent per annum. This is a Limited Period Offer available now and until the bank decides otherwise.

    Features and Benefits of Maybank Foreign Currency Time Deposit

    • The bank accepts a minimum initial deposit amount of 10, 000 units for all foreign currencies with an exception of the Japanese Yen.
    • For currency in Japanese Yen, the minimum initial deposit amount is 2.5 million units.
    • You can choose from a flexible placement period of 1, 2, 3 or 6 months for all foreign currencies. A placement period of 12 months is available for the following foreign currencies – GBP, AUD, USD and NZD.
    • Maybank offers competitive interest rates and foreign exchange rates.
    • You can monitor your deposit easily via Phone Banking through Dial-Link and through the Maybank Online Banking Maybank2u.com.sg

    Eligibility Criteria for Maybank Foreign Currency Time Deposit

    • Singapore Citizens
    • Singapore Permanent Residents (PRs)
    • Foreigners
    • The applicant must at least be 18 years of age

    Documentation Required for Maybank Foreign Currency Time Deposit

    • Singapore Citizens and Singapore Permanent Residents (PRs) must provide their Singapore NRIC
    • Foreigners must provide their Passport and their Employment Pass
    • The applicant must provide their latest bank statement along with their telecommunication or utility bill that indicates the residential address. Both the aforementioned documents must be the original copies.

    Fees and Charges

    Conversion to Singapore Dollars Charge
    Credit to applicant’s account NIL
    MEPS SGD 20
    Early Withdrawal Charge Min US $15

    Deposit –

    Cheque Charge
    SGD / US $ Local Clearing NIL
    When sent for collection

      •commission - 0.125percent minimum - US$20 maximum - US$100

      •Agent Fee may be applicable

    When debited from account NIL
    TT (Telegraphic Transfer) in foreign currency NIL - Agent Fee may be applicable

    Withdrawal –

    Currency Telegraphic Transfer/Demand Draft Remittance Commission Telegraphic Transfer – Cable Charge
    USD

      •commission - 0.125 percent minimum - US$10 maximum - US$50

    US $15
    GBP

      •commission - 0.125 percentminimum - £5 maximum - £25

    £ 10
    AUD

      •commission - 0.125 percentminimum - AU$1, maximum - AU$50

    AU$15
    HKD

      •commission - 0.125 percentminimum HK$50 maximum - HK$400

    HK$100
    JPY

      •commission - 0.125percentminimum - ¥1,000, maximum - ¥5,000

    ¥1,500
    EUR

      •commission - 0.125 percentminimum - €5, maximum - €25

    €10
    CAD

      •commission - 0.125 percentminimum - C$10, maximum - C$50

    C$15
    NZD

      •commission - 0.125 percentminimum - NZ$10, maximum - NZ$50

    NZ$15

    Maybank iSaVvy Foreign Currency Time Deposit

    Maybank iSaVvy Foreign Currency Time Deposit is offered at a preferential interest rate as well as exchange rate with an option to choose from myriad foreign currencies. The 5 major foreign currencies accepted are as follows –

    • Euro (EUR)
    • Australian Dollar (AUD)
    • New Zealand Dollar (NZD)
    • US Dollar (GBP)
    • United States Dollar (USD)

    Features and Benefits of Maybank iSaVvy Foreign Currency Time Deposit

    • The minimum placement amount for any foreign currency is 10, 000 units.
    • You can choose from a flexible placement period of 1, 2, 3 or 6 months for any of the above listed currencies.
    • For United States Dollar (USD), a placement period of 12 months is available
    • Enjoy competitive foreign exchange rates and interest rate structures
    • Preferential foreign exchange rates and interest rates are offered for 100, 000 units in any foreign currency when you place a minimum deposit of 10, 000 units
    • You can easily monitor your deposit through Online Banking via Maybank2u.com.sg OR Phone Banking through Dial-Link

    Eligibility for Maybank iSaVvy Foreign Currency Time Deposit

    • Singapore Citizens
    • Singapore Permanent Residents (PRs)
    • Foreigners
    • The applicant must at least be 18 years old
    • The applicant must have a Maybank Current or Savings account with Online banking access
      1. The principal amount for the Foreign Currency Time Deposit will be debited from this account
      2. The interest and the principal upon deposit maturity will be credited to the same account

    Fees and Charges

    Online Account Opening NIL
    Account Maintenance NIL
    Deposit NIL – The principal placement is performed through online banking. Also, top –up to the principal amount is not permitted

    Withdrawal Charges –

    By Cash in SGD SGD 15
    Transfer to Own Maybank Account NIL
    Transfer to Third Party Maybank Account SGD 10
    Cashier’s Order – Payable to own name SGD 10
    Cashier’s Order – Payable to a Third Party SGD 15
    Balance Enquiry SGD 5 for each receipt
    Ad Hoc Request for Account Statement SGD 30 for each account

    Interest Rate Structure –

    Maybank Foreign Currency Time Deposit

    Foreign Currency Time Deposit - Tier 1
        Tenure of the Deposit
    Currency Minimum 1 2 3 6
    US Dollar 10K 0.9500 1.0000 1.0500 1.2500
    Sterling Pound 10K 0.0000 0.0000 0.0000 0.0000
    Australian Dollar 10K 1.1000 1.1500 1.2000 1.4000
    New Zealand Dollar 10K 1.3500 1.4000 1.4500 1.6000
    Canadian Dollar 10K 0.2000 0.2500 0.3500 0.6000
    Swiss Franc 10K 0.0000 0.0000 0.0000 0.0000
    Euro 10K 0.0000 0.0000 0.0000 0.0000
    Japanese Yen 2.5M 0.0000 0.0000 0.0000 0.0000
    These rates are effective starting 22 Dec, 2015
    Foreign Currency Time Deposit - Tier 2
        Tenure of the Deposit
    Currency Minimum 1 2 3 6
    US Dollar 50K 0.9500 1.0000 1.0500 1.2500
    Sterling Pound 50K 0.0000 0.0000 0.0000 0.0000
    Australian Dollar 50K 1.2000 1.2500 1.3000 1.5000
    New Zealand Dollar 50K 1.4500 1.5000 1.5500 1.7000
    Canadian Dollar 50K 0.3000 0.3500 0.4500 0.7000
    Swiss Franc 50K 0.0000 0.0000 0.0000 0.0000
    Euro 50K 0.0000 0.0000 0.0000 0.0000
    Japanese Yen 10M 0.0000 0.0000 0.0000 0.0000
    These rates are effective starting 22 Dec, 2015
    Foreign Currency Time Deposit - Tier 3
        Tenure of the Deposit
    Currency Minimum 1 2 3 6
    US Dollar 100K 1.0000 1.0500 1.1000 1.3000
    Sterling Pound 100K 0.0000 0.0000 0.0000 0.0000
    Australian Dollar 100K 1.3000 1.3500 1.4000 1.6000
    New Zealand Dollar 100K 1.5500 1.6000 1.6500 1.8000
    Canadian Dollar 100K 0.4000 0.4500 0.5500 0.8000
    Swiss Franc 100K 0.0000 0.0000 0.0000 0.0000
    Euro 100K 0.0000 0.0000 0.0000 0.0000
    Japanese Yen 25M 0.0000 0.0000 0.0000 0.0000
    These rates are effective starting 22 Dec, 2015
    iSAVvy Foreign Currency Time Deposit Rates
        Tenure of the Deposit
    Currency Minimum Deposit Amount 1 month 2 months 3 months 6 months
    Australian Dollar 10K 1.3000 1.3500 1.4000 1.6000
    Euro 10K 0.0000 0.0000 0.0000 0.0000
    Sterling Pound 10K 0.0000 0.0000 0.0000 0.0000
    New Zealand Dollar 10K 1.5500 1.6000 1.6500 1.8000
    US Dollar 10K 1.0000 1.0500 1.1000 1.3000
    These rates are effective starting 22 Dec, 2015

    Frequently Asked Questions

    1. What is the minimum placement amount for the Maybank Foreign Currency Time Deposit and iSaVvy Foreign Currency Time Deposit?
    2. The minimum placement amount for the Maybank Foreign Currency Time Deposit is 10, 000 units for all currencies except the Japanese Yen. The minimum placement amount for the Japanese Yen is 2.5 million units. The minimum placement amount for the Maybank iSaVvy Foreign Currency Time Deposit is 10, 000 units for all currencies.

    3. What are the foreign currencies available for the Maybank iSaVvy Foreign Currency Time Deposit?
    4. The following currencies are available for the Maybank iSaVvy Foreign Currency Time Deposit - Euro (EUR), US Dollar (AUD), New Zealand Dollar (NZD), US Dollar (GBP) and United States Dollar (USD).

    5. How do I monitor my deposit for the Maybank Foreign Currency Time Deposit OR the iSaVvy Foreign Currency Time Deposit?
    6. You can now easily monitor your Fixed Deposit whether you have a Maybank Foreign Currency Time Deposit OR the iSaVvy Foreign Currency Time Deposit by either through Online Banking via Maybank2u.com.sg OR through Phone Banking via Dial –Link.

    7. Are foreigners eligible to apply for the Maybank Foreign Currency Time Deposit OR the iSaVvy Foreign Currency Time Deposit?
    8. Yes. Foreigners who are at least 18 years of age or above are eligible to apply for the Maybank Foreign Currency Time Deposit OR the iSaVvy Foreign Currency Time Deposit.

    9. What account do I need to open to operate my Maybank the iSaVvy Foreign Currency Time Deposit?
    10. You will need to open and maintain any Maybank Current or Savings Account with access to Online Banking via Maybank2u.com.sg. This account is crucial because the principal amount for the Foreign Currency Time Deposit will be debited from this account. Also, the interest as well as the principal upon the deposit maturity period will be credited to this account.

    Fixed Deposits from Top Banks
    Foreign Currency Fixed Deposits from Top Banks
    Currency Specific Fixed Deposit
    US Dollar Foreign Currency Fixed Deposit by Bank
    Australian Dollar Foreign Currency Fixed Deposit by Bank
    GBP Foreign Currency Fixed Deposit by Bank
    NZD Foreign Currency Fixed Deposit by Bank
    Euro Foreign Currency Fixed Deposit by Bank
    Canadian Dollar Foreign Currency Fixed Deposit by Bank
    Fixed Deposit Promotion by Banks
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.