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.
- Higher interest than passbook savings account
- Free Accidental Medical Reimbursement Benefit and Accidental Permanent Disablement Benefit insurance coverage
- 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 BenefitsClaim Amount
Permanent Total DisablementS$30,000 Permanent Loss of or Loss of Use of two (2) LimbsS$30,000 Permanent Loss of sight in two (2) eyesS$30,000 Permanent Loss of or Loss of Use of one (1) Limb and Loss of sight in one (1) eyeS$30,000 Permanent Loss of speech and hearingS$30,000 Permanent Loss or Loss of Use of one (1) Limb or Loss of sight in one (1) eyeS$15,000 Permanent Loss of speechS$15,000 Permanent Loss of hearingS$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.
|1||Additional terms and conditions apply for the personal accident insurance coverage. Please refer to our Branches for a copy of the policy schedule.|
|*||Bank Internasional Indonesia (BII) ATMs|
Interest rate on your Privilege Plus Savings Account:
|Next S$47,000||0.4375% p.a.|
|Remaining balance above S$50,000||0.500% p.a.|
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
- Minimum 50 years of age
- 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
- 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.
Terms and conditions governing the Passbook Savings Account will be applicable to Privilege Plus Savings Account.
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.