CreditAble (Personal Line of Credit) FAQs

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  1. How can I apply for Maybank CreditAble?
  2. What are the requirements?
  3. What are the documents required?
  4. What is the maximum credit limit that i can apply for?
  5. How do I use my credit line?
  6. How much cash can I use?
  7. How may I obtain a permanent increase in my credit limit?
  8. Are there charges for issuing Maybank CreditAble cheques?
  9. How do I obtain a new chequebook once my cheques run out?
  10. How is interest calculated?
  11. How much do I have to pay monthly?
  12. How do I make my payment?

  1. How can I apply for Maybank CreditAble?

    You can apply online or visit any Maybank branch.

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  2. What are the requirements?

    You must be a Singapore Citizen or Permanent Resident of age between 21 and 60 years old with minimum income of S$30,000 p.a.

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  3. What are the documents required?

    You must an existing CreditAble customer to apply.

    For Fully Salaried / Salary with Commission of 20% and below
    • A photocopy of your NRIC (front and back); AND
    • Latest 12 months' CPF Contribution History Statement*; OR
    • Latest Income Tax Notice of Assessment** AND latest computerised salary slip
    For Self-Employed / Fully Commissioned / Freelance and Part-time
    • A photocopy of your NRIC (front and back); AND
    • Latest 2 years' Income Tax Notice of Assessment**
    For Salary with Commission above 20%
    • A photocopy of your NRIC (front and back); AND
    • Latest 12 months' CPF Contribution History Statement*; OR
    • 3 months' computerised salary slip

    ** Download your Income Tax Notice of Assessment at myTax Portal using your SingPass or IRAS PIN. More details at https://mytax.iras.gov.sg.

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  4. What is the maximum credit limit that i can apply for?

    The credit limit assigned to you will be up to 2 times your monthly income.

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  5. How do I use my credit line?

    You may use your credit line by issuing cheques using the CreditAble chequebook or withdrawing cash using your Maybank Platinum Debit Card.
      

    The CreditAble chequebook will be mailed to you upon opening of your CreditAble account. Should you wish to apply for an ATM Card or to link your existing Maybank ATM Card to your CreditAble account, please visit any of our Maybank Singapore Branch.  

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  6. How much cash can I use?

    You can use up to the credit limit that is approved. 

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  7. How may I obtain a permanent increase in my credit limit?

    If you wish to have your permanent credit limit reviewed, please click here

    For Salaried Employees
    • Latest computerised salary slip; OR
    • Latest 12 months’ CPF Contribution History Statement; OR
    • Latest Income Tax Notice of Assessment
    For Self-Employed, Commission and Variable Income Earners
    • Last 2 years' Income Tax Notice of Assessment

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  8. Are there charges for issuing Maybank CreditAble cheques?

    No.  However, we strongly encourage you to ensure that  the amount issued is within your available credit limit.

    You may also wish to note that there is a handling fee of S$40 for every returned cheque, and S$30 for each stop cheque payment instruction. 

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  9. How do I obtain a new chequebook once my cheques run out?

    A new chequebook will automatically be mailed to you before your current cheques run out. If you need a chequebook urgently, you may also our contact our Customer Relationship Executives on 1800-MAYBANK (1800-629 2265) or (65) 6533 5229 (Overseas). 

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  10. How is interest calculated?

    The interest is calculated daily based on the outstanding debit balance at the end of each day.

    Please note that a minimum interest charge of S$5 per month applies.

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  11. How much do I have to pay monthly?

    You may choose to service only the minimum amount payable stated in your monthly Statement of Account. The minimum sum payable is S$30 or 3% of the outstanding amount in the account each month, whichever is higher.

    If you wish to check the exact outstanding amount payable, you may contact our Customer Relationship Executives on 1800-MAYBANK (1800-629 2265) or
    (65) 6533 5229 (Overseas)

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  12. How do I make my payment?

    With Maybank CreditAble, you have the flexibility of paying via the following modes:

    CashCash payment may be made at any of our Maybank Singapore Branches.
    ChequesCheques should be "crossed" and made payable to "Maybank CreditAble A/c: (your account number)". You can mail it together with the Payment slip using the postage paid envelope.
    ATMYou can pay through your other Maybank accounts using Fund Transfer service at our ATMs.
    Cash Deposit MachinesDeposit cash via our cash deposit machines located at our Branches with 24-hour banking to pay your CreditAble bills.
    Maybank2u.com.sgUse Maybank2u.com.sg to transfer funds from your Maybank Savings or Current Account to make payments. To apply for this services, visit any of our 22 Branches in Singapore.
    Online InterBank Funds TransferIf you have online banking facilities with other Banks, use the InterBank Funds Transfer feature to effect a transfer to your CreditAble account. Select Maybank (Malayan Banking Berhad) as the Bank (Bank code: 7302) and Main Branch as the Branch (Branch code: 001). Key in your full name as the payee name, and the 11 digits of your CreditAble account number as the account number.

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