Youngstarz Savings Account
A world of possibilities awaits your child!
Doctor. Filmmaker. Musician. These may just be some of your child’s aspirations. And you can help him fulfil his ambition today by starting a Youngstarz Savings Account. It’s a junior savings account like no other. With an extensive range of unique benefits and privileges, Youngstarz Savings Account is tailored to give your little one that perfect head start in life!
Key info
- Free Hand, Foot & Mouth Disease Insurance1 and personal accident insurance2
- Youngstarz Club membership offers year-round discounts, events and privileges
Deposit your child’s savings in Youngstarz Savings Account and receive the following new year goodies from us:
Enjoy up to 15% off first year premium upon purchase of selected life insurance plans |
Benefits
- Attractive interest to help you build up his financial security. One of the highest interest rates for a children’s savings account!
- Hand, Foot & Mouth Disease insurance1 that takes care of his hospitalisation expenses with daily cash benefits of S$200 (up to a maximum payout of S$5,000 a year).
- Personal Accident insurance2 that gives your child and you worldwide coverage against accidental death or permanent disablement with lump sum payout of S$400,000 or 8 times of your account balance, whichever is lower.
- Youngstarz Club membership! An exclusive membership with loads of fun activities such as mind-stimulating contests, complimentary workshops and surprises on your child’s birthday and more.
- Exciting gifts created just for your child when you open or top up his or her Youngstarz Savings Account
| 1 | Eligibility for Hand, Foot & Mouth Disease (HFMD) insurance is based on maintaining a minimum deposit of S$2,000 in the Youngstarz Savings Account. Payout is based on daily hospitalisation cash benefit of S$200; up to a maximum of 25 days per year. The maximum claim by each minor Account Holder is S$5,000 any one hospital stay or per year. Daily cash benefit will only be paid if the minor Account Holder has been hospitalised for a minimum of 18 hours in one hospital stay. Payout will be until the minor Account Holder reaches 18 years of age. |
| 2 | Eligibility for free Personal Accident (PA) insurance is based on maintaining a minimum deposit of S$2,000 in the Youngstarz Savings Account. Payout is based on 8 times of the account balance or S$400,000, whichever is lower, until the minor Account Holder reaches 18 years of age. |
Interest rate
- Among the highest interest rates in town for a children's savings account
- Interest is calculated daily and credited monthly
Minimum initial deposit
S$10
Who can apply
- Singapore Citizens, Singapore Permanent Residents, Foreigners with Employment Pass or Work Permit
- Below 18 years of age
Required documents
- Parent or guardian
- Singapore Citizens, Singapore Permanent Residents – Singapore NRIC
- Passport and Employment Pass or Work Permit and latest Income Tax Notice of Assessment
- Child
- Birth certificate
Fees and charges
S$2 monthly service fee; waived with a minimum average daily balance of S$500
Help your child develop good money habits, and enjoy the many privileges in the process. Apply for a Youngstarz Account here, or visit any of our 22 Branches in Singapore.
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.
Important Notices
SaveUp Account for Loan Customer
Loans
Member-Get-Member Promotion: Recommend Maybank loans and be rewarded with vouchers of up to S$250
