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 QFB shared ATM network
  • Withdraw cash in local currencies from Maybank ATMs in Brunei, Cambodia, Indonesia*, Malaysia, Singapore and the Philippines
• 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

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)

Note

Singapore dollar deposits of non-bank depositors placed with the Bank are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor as prescribed in the Deposit Insurance and Policy Owners’ Protection Schemes Act (“Act”). Singapore dollar deposits under the CPF Investment Scheme are separately insured up to S$50,000 in aggregate per depositor as prescribed in the Act. Structured deposits and other investment products are not insured under the scheme.