Deposit Insurance Scheme

The Scheme covers individuals and non-bank depositors with insured deposits placed with Maybank in Singapore.

Non-bank depositors include sole proprietorships, partnerships, companies and unincorporated entities like associations and societies.

Key info

  • Deposit insurance coverage

Please click here to view an education video on Deposit Insurance Scheme.

The Deposit Insurance Scheme ("Scheme") was established under the Deposit Insurance Act which came into force on 18 October 2005. The Deposit Insurance Act was repealed and replaced with the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011 (“the Act”) with effect from 1 May 2011. Under the Act, the Scheme is enhanced to extend its coverage.

The Singapore Deposit Insurance Corporation (“SDIC”), a separate entity incorporated as a company limited by guarantee under the Companies Act, will administer the Scheme and manage the deposit insurance fund.

  • Maybank is a member of the Scheme. Under the Scheme, all insured deposits placed with Maybank (except for deposits under the CPF Investment Scheme and CPF Minimum Sum Scheme) are aggregated and insured up to S$50,000. Moneys and deposits under the CPF Investment Scheme and CPF Minimum Sum Scheme are aggregated and separately insured up to S$50,000.

Singapore Dollar deposits placed with Maybank in Singapore which are covered under the Scheme are listed in the Insured Deposit Register below.

Please note that the following deposits are not included under this Scheme.

  • Foreign currency deposits
  • Structured deposits
  • Investment products such as unit trusts, shares and other securities

Insured Deposit Register

The following are deposit accounts which are eligible for deposit insurance coverage under the Act. Any Singapore dollar deposit in this list held by an individual or a non-bank corporation will be insured up to the limits specified in the Act.

Deposit Accounts

Savings

  • iSAVvy Savings Account
  • iSAVvy Savings Plus Account
  • Passbook Savings Account
  • Prestige Savings Account
  • Privilege Plus Savings Account
  • SaveUp Account
  • Youngstarz Account

Current

  • Current Account
  • FlexiBiz Account
  • PremierOne Account
  • PremierBiz Account

Time Deposits

  • Choice Date Time Deposit Account
  • CPF Time Deposit Account
  • Interest at Maturity Deposit
  • iSAVvy Time Deposit Account
  • Odd Days Time Deposit Account
  • Privilege Plus Time Deposit Account
  • Singapore Dollar Time Deposit

Islamic Banking

  • Ar-Rihla Regular Savings Account-i
  • Current Account-i
  • iSAVvy Savings Account-i
  • PremierOne Account-i
  • Savings Account-i
  • Term Deposit-i

Debit Card

  • ATM MasterCard Electronic Card Account
  • Flash Debit Card Account

Questions? Our FAQ may help.

For more information, please call 1800-MAYBANK (1800-629 2265) or (65) 6533 5229 (overseas).