Maybank is one of the top banks across the globe and offers great financial services and products to its customers. Their products and services are designed to meet the changing requirements of the customers. The Privilege Plus account is a unique savings account that offers the privileged customers lucrative rates of interest on the savings. The account holders are also protected under the personal accident insurance scheme that comes with this account.
Features and Benefits of Maybank Privilege Plus Savings Account:
The Privilege Plus account comes with a myriad of features and benefits. These are as follows:
- You can enjoy lucrative rates of interest for your funds after retirement.
- You can enjoy personal accident insurance free of cost. However, certain conditions must be followed.
- The minimum amount in your Privilege Plus account must be S$30,000.
- The free personal accident coverage is applicable for the individuals who are between the ages of 50 years and 70 years. In case of a joint account, the person who is older will be able to avail this particular insurance plan.
- The account can be opened for joint holders or individual account holders. In case of joint accounts, one account holder must be above the age of 50 years.
- The holder of the account must be a citizen of Singapore, permanent resident of Singapore, foreigners holding valid Employment Pass, Work Permit or Dependant’s Pass.
- Enjoy reimbursement benefits for accidental medical emergencies. The claim that you make on the medical expenditures in case of a bodily injury will depend on the original bills and receipts that you provide, up to a maximum amount of S$500 / event.
- Avail benefits in case of a permanent disability caused due to an accident. The insured individual should sustain injuries that result in permanent disability. The claim amount can up to a maximum limit of S$30,000. This particular claim is a one-time benefit. After the settlement of the claim, the insured individual’s coverage plan will be terminated.
- You can use your ATM card for withdrawing cash easily. No transaction fee is associated with fund withdrawal when you use automated teller machines in Singapore.
- You can withdraw funds in local currencies from the ATMs of Maybank situated in Cambodia, Brunei, Malaysia, Indonesia, Philippines and Singapore.
- You can monitor all your transactions at ease. You can also update your passbook at any Passbook Updating Machine or any branch to know about the details of your transactions.
- Enjoy access to cash deposit machines, ATMs, online banking a mobile banking round the clock.
- The minimum initial deposit for citizens of Singapore and permanent residents of Singapore is S$500.
- The minimum initial deposit for the foreigners is S$1,000.
- The minimum age limit for a citizen of Singapore or a permanent resident of Singapore is 50 years.
- The minimum age limit for a foreigner is 50 years.
- The citizens of Singapore and the permanent residents of Singapore must provide their NRIC.
- The foreigners who wish to apply for this account must provide their Employment Pass and Passport.
- Some of the other documents that are required are utility bills, latest bank statement, etc. as proof of address.
Fees and Charges:
- Permanent Resident of Singapore / Citizens of Singapore – The monthly service fee is S$2. If a minimum average daily balance of S$1,000 is maintained, then this fee is waived off.
- Foreigners - The monthly service fee is S$5. If a minimum average daily balance of S$1,000 is maintained, then this fee is waived off.