Benefits

• Attractive interest for your retirement funds.
  
• Free personal accident insurance coverage¹ subject to:
  • Minimum balance of S$30,000 on your Privilege Plus Savings Account.
  • Free personal accident insurance coverage¹ will be applicable to customers aged between 50 to 70 years old. For joint account, only the older account holder will be entitled to the free personal accident insurance coverage¹.
  • Account can be opened in single-name or joint-name basis. For joint accounts, one of the Account Holders has to be 50 years and above.
  • Account holder must be a Singapore Citizen, Singapore Permanent Resident and Foreigners with Employment Pass / Work Permit / Dependant’s Pass / S Pass.
• Accidental Medical Reimbursement Benefit (AMR)
  • The claim on the medical expenses as a result of a Bodily Injury will be based upon production of original receipts, up to S$500 per event.
  • The total claims incurred in one Bodily Injury must exceed S$50. Subject to 1st medical expense incurred within 4 weeks of accident and medical expenses incurred for the same event must not exceed 1 year. 
• Accidental Permanent Disablement Benefit (APD)
  • The insured person must sustain Bodily Injury which results in his/her Permanent Disablement to be eligible to the claim of up to S$30,000.
  • It is a one time claim under this benefit, once a claim is settled the coverage for the insured person is terminated.

    Table of Benefits	Claim Amount
    Permanent Total Disablement	S$30,000
    Permanent Loss of or Loss of Use of two (2) Limbs	S$30,000
    Permanent Loss of sight in two (2) eyes	S$30,000
    Permanent Loss of or Loss of Use of one (1) Limb and Loss of sight in one (1) eye	S$30,000
    Permanent Loss of speech and hearing	S$30,000
    Permanent Loss or Loss of Use of one (1) Limb or Loss of sight in one (1) eye	S$15,000
    Permanent Loss of speech	S$15,000
    Permanent Loss of hearing	S$15,000

    Maximum Amount Payable S$30,000

• Easy cash withdrawals via your ATM Card
  • Withdraw cash (no transaction fee) from ATMs in Singapore via the atm⁵ - Shared ATM Network
  • Withdraw cash in local currencies from Maybank ATMs in Brunei, Cambodia, Indonesia*, Malaysia, Papua New Guinea, Singapore and the Philippines
  • Withdraw cash at any Cold Storage, Giant, Guardian, and SingPost outlets with EPINS^® CashOut™  each time you make a purchase or pay your bills through EPINS^®
• Easy transaction monitoring – update your passbook at any Branch or Passbook Update Machine to view transaction details
• 24-hour account access via our ATMs, cash deposit machines, PhoneBanking (Dial-Link) and Maybank2u.com.sg
• Birthday Privileges
  • Enjoy exclusive travel, retail and dining privileges with  MISA Travel, Nature’s Farm^®, OSIM and Swissôtel Merchant Court on your birthday month. Terms and conditions apply.

Interest rate

Interest is calculated on a daily basis and credited monthly.

Minimum initial deposit

• S$10 for Singaporeans
• S$500 for Foreigners

Who can apply

• Singapore Citizens, Singapore Permanent Residents
  • Minimum 50 years of age
• Foreigners
  • Minimum 50 years of age

Required documents

• Singapore Citizens, Singapore Permanent Residents – Singapore NRIC
• Foreigners – Passport and Employment Pass or Work Permit

Fees and charges

• Singapore Citizens and Singapore Permanent Residents
  • S$2 monthly service fee; waived with a minimum average daily balance of S$500
• Foreigners
  • S$5 monthly service fee; waived with a minimum average daily balance of S$500
• Please click here to view the other Bank charges applicable for our services.

Make every cent work hard for you. Apply for the Savings Account here, or visit any of our 22 Branches in Singapore.

Terms and conditions governing the Passbook Savings Account will be applicable to Privilege Plus Savings Account.

Terms and conditions (PDF)

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Minimum Sum Scheme are aggregated and separately insured up to S$50,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.