To make it easy and convenient for people to save money, Maybank offers different types of Savings Accounts. These accounts are designed keeping in mind the requirements of the customers and to provide them with maximum benefits.
Types of Savings Account offered by Maybank
- Maybank Savings Account.
- Maybank iSAVvy Savings Account.
- Maybank iSAVvy Savings Plus Account.
- Maybank Privilege Plus Savings Account.
- Maybank SaveUp Account.
- Maybank Youngstarz Savings Account.
Features of Maybank Savings Account
Maybank Savings Account offers tiered rates of interest that allows people to earn money on the amount they save.
- It helps customers in tracking their account history using their passbook.
- Anyone who is a minimum of 16 years old can open this account.
- To open this account Singaporeans, Societies and clubs are required to make a minimum initial deposit of S$500 and foreigners are required to make a minimum initial deposit of S$1,000.
- The rate of interest offered by this account is calculated on a daily basis and credited on a monthly basis.
Maybank iSAVvy Savings Account
Maybank iSAVvy Savings Account is an online savings account that offers a very good rate of interest.
- This account allows you to create sub-accounts that help you achieve your savings related goals.
- If you maintain a certain balance in your iSAVvy Savings Account, the bank will provide you with free insurance coverage.
- This account offers additional 6% interest-on-interest to account holders who have an average daily balance worth a minimum of S$5,000 and less than S$100,000.
- This account offers additional 18% interest-on-interest to account holders who have an average daily balance worth a minimum of S$100,000 and less than S$200,000.
Maybank iSAVvy Savings Plus Account
Apart from offering an attractive rate of interest, Maybank iSAVvy Savings Plus Account offers a bonus interest worth 1.56% p.a. to all the account holders on every extra dollar they save.
- This account can be accessed 24/7 through Online banking, Phone Banking, ATMs, etc.
- Free insurance coverage is offered to account holders who maintain a certain balance in their iSAVvy Savings Plus Account.
- This account allows customers to pay for their shares and receive the proceeds directly in the account.
- The interest rate of this account is calculated on a daily basis and credited on a monthly basis.
Maybank Privilege Plus Savings Account
Maybank Privilege Plus Savings Account offers attractive interest rates to the privileged customers of the bank. This account also protects the customers by providing them with a complimentary personal accident insurance coverage.
- This account also offers AMR (Accidental Medical Reimbursement Benefit and APD (Accidental Permanent Disablement Benefit) to the account holders.
- You can link your Maybank Card to this account and make payments for your purchases via NETS at selected merchant outlets.
- Anyone who is at least 50 years old can open this account.
- To open this account, customers need to make a minimum initial deposit of S$500. Foreigners have to make a minimum initial deposit of S$1,000.
Maybank SaveUp Account
Maybank SaveUp Account offers a high rate of interest and it does not require customers to visit the bank to update their passbook, instead statements are sent to them one in a period of 2 months.
- You can earn an interest of up to 3% p.a. through the SaveUp Programme.
- When you GIRO your IT (Income Tax) through this savings account, you can earn cash rewards.
- This account can be opened by anyone who is at least 16 years old.
- Customers can easily withdraw money from this account using their ATM Card or Maybank Platinum Debit Card.
Maybank Youngstarz Savings Account
Maybank Youngstarz Savings Account is a junior savings account that help you fulfil the dreams of your children.
- This account provides complimentary personal accident insurance and Hand, Foot and Mouth Disease Insurance coverages.
- This account offers a high rate of interest.
- This account offers exclusive privileges during the birthday month of the account holder.
- This account can be opened as a trust account for anyone who is less than 16 years old.
Applying for Maybank Savings Accounts
It is very easy to apply for a Savings Account with Maybank. Customers have to first select the type of account they wish to open.
If they select Maybank Privilege Plus Savings Account, Maybank Savings Account or Maybank Youngstarz Savings Account, they have to simply make an appointment with the bank branch they prefer. They can do so online on the website of Maybank.
If they select Maybank iSAVvy Savings Account or Maybank SaveUp Account, they can apply on the website of the bank using their SingPass.
If they choose Maybank iSAVvy Savings Plus Account, they have to open the bank’s website, go to the ‘Savings Accounts’ Section present under ‘Deposits and Banking’ and select ‘iSAVvy Savings Plus Account’. Once the page opens, read up the information and click on the ‘Apply Now’ button.