CreditAble (Personal Line of Credit) FAQs
- How can I apply for Maybank CreditAble?
- What are the requirements?
- What are the documents required?
- What is the maximum credit limit that I can be assigned?
- How do I use my credit line?
- How much cash can I use?
- How may I obtain a permanent increase in my credit limit?
- Are there charges for issuing Maybank CreditAble cheques?
- How do I obtain a new chequebook once my cheques run out?
- How is interest calculated?
- How much do I have to pay monthly?
- How do I make my payment?
How can I apply for Maybank CreditAble?
What are the requirements?
You must be a Singapore Citizen or Permanent Resident of age between 21 and 65 years old with minimum income of S$30,000 p.a.
What are the documents required?
* Please visit http://info.maybank2u.com.sg/personal/cards/ourcards.aspx with your SingPass to submit CPF Contribution History Statement. The maximum credit limit is calculated based on the CPF salary ceiling of S$6,000 per month. Please submit your latest Income Tax Notice of Assessment or computerised payslip if your monthly income exceeds S$6,000.
** You can print your Income Tax Notice of Assessment at myTax Portal using your SingPass or IRAS PIN at https://mytax.iras.gov.sg.
What is the maximum credit limit that I can be assigned?
The credit limit assigned to you will be up to 4 times your monthly income.
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 link your existing Maybank ATM Card to your CreditAble account, please visit any of our Maybank Singapore Branch.
How much cash can I use?
You can use up to the credit limit that is approved.
How may I obtain a permanent increase in my credit limit?
If you wish to have your permanent credit limit reviewed, please click here
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.
How do I obtain a new chequebook once my cheques run out?
A new chequebook will be mailed to you automatically before your current cheques run out. If you need a chequebook urgently, you may contact our Customer Relationship Executives on 1800-MAYBANK (1800-629 2265) or (65) 6533 5229 (Overseas).
How is interest calculated?
Interest is calculated daily, based on the outstanding debit balance at the end of each day and total interest amount will be reflected in your Statement of Account.
Please note that a minimum interest charge of S$5 per month applies.
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.
Please note that the outstanding balances reflected on your monthly statement will continue to accrue interest on a daily basis until the day payment is received. To check the latest amount payable, including the total accrued interest as of your payment date, you may contact our Customer Relationship Executives on 1800-MAYBANK (1800-629 2265) or (65) 6533 5229 (Overseas). Alternatively, you may also visit any of our 21 Branches for assistance.
How do I make my payment?
With Maybank CreditAble, you have the flexibility of paying via the following modes:
Cash Cash payment may be made at any of our Maybank Singapore Branches. Cheques Cheques 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. ATM You can pay through your other Maybank accounts using Fund Transfer service at our ATMs. Cash Deposit Machines Deposit cash via our cash deposit machines located at our Branches with 24-hour banking to pay your CreditAble bills. Maybank Online Banking
Use Maybank2u.com.sg to transfer funds from your Maybank Savings or Current Account. To apply for this service, visit any of our 21 Branches in Singapore. Online InterBank Funds Transfer If you have online banking facilities with other Banks, use the InterBank Funds Transfer feature to make 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.