Maybank Privilege Plus Savings Account

Privilege Plus Savings Account is the first and only savings account which offers our privileged customers attractive interest rates on their savings and at the same time, protects them with free personal accident insurance coverage.

Visit any Maybank Branch to open this account now.

Make an appointment with your preferred Branch

Benefits

  • Free personal accident insurance coverage1 subject to:
    • Minimum balance of S$30,000
    • Applicable to customers aged between 50 and 70 years old. For joint account, only the older account holder will be entitled to the free personal accident insurance coverage1.
  • 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 a maximum of 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.
  • Maybank Platinum Debit Card
    • Withdraw cash for free at any Maybank ATM and other banks ATMs from ATMs in Singapore via the atm5 - Shared ATM Network
    • Withdraw cash in local currencies from Maybank ATMs in Brunei, Cambodia, Indonesia, Malaysia and The Philippines
  • Credit your Dividends/Cash Distributions directly into your bank account with Direct Crediting Service (DCS) for free
  • Make payment for your shares and receive share proceeds directly into your bank account
  • Birthday Privileges

Interest rate

Enjoy higher interest rates than passbook savings account

Account Opening Requirements

  • Singapore Citizens, Singapore Permanent Residents
    • Minimum initial deposit of S$500
    • Minimum 50 years of age
    • Singapore NRIC
  • Foreigners
    • Minimum initial deposit of S$1,000
    • Minimum 50 years of age
    • Passport and Employment Pass; and
    • An original copy of your latest personal account bank statement with another bank, utility or telecommunication bill with your residential address in Singapore indicated

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.

Fees and charges

  • Singapore Citizens and Singapore Permanent Residents
    • S$2 monthly service fee; waived with a minimum average daily balance of S$1,000
  • Foreigners
    • S$5 monthly service fee; waived with a minimum average daily balance of S$1,000
  • S$30 early account closure fee, if the account is closed within 6 months of opening
  • Please click here to view the other Bank charges applicable for our services

1Additional terms and conditions apply for the personal accident insurance coverage. Please refer to our Branches for a copy of the policy schedule.

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.