Savings Account

Savings Account with one of the best interest rates which allows you to keep track of your transactions with a passbook. With our tiered interest rates the more you save, the more interest you will earn!

Visit any Maybank Branch to open this account now.

Make an appointment with your preferred Branch

Benefits

Interest rate

One of the highest tiered interest rates in Singapore

Account Opening Requirements

  • Singapore Citizens, Singapore Permanent Residents
    • Minimum initial deposit of S$500
    • Minimum 16 years of age
    • Singapore NRIC
  • Foreigners with Employment Pass (including S-Pass)
    • Minimum initial deposit of S$1,000
    • Minimum 16 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
  • Foreigners with Work Permit
    • No initial deposit required
    • Minimum 16 years of age
    • Passport and Work Permit; 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
    • Your employer needs to be processing salary payment through Maybank
  • Open to clubs and Societies

Fees and charges

  • Singapore Citizens, Singapore Permanent Residents, and Clubs and Societies
    • 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.

 

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.