Maybank Fund Transfer for CreditAble Customers FAQs

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  1. What is Maybank Fund Transfer?
  2. What is the difference between the existing Maybank Fund Transfer and the newly launched Maybank Fund Transfer for CreditAble customers?
  3. How can I apply for fund transfer?
  4. Is my Joint Account Holder’s signature required during application?
  5. Which are the banks that I can transfer my funds to?
  6. How many fund transfer can I take up?
  7. How long will it take for my fund transfer application to be processed?
  8. How do I know when the loan is approved?
  9. What is the minimum and maximum loan amount that I can apply for?
  10. Will my CreditAble Fund Transfer have a different account number from my CreditAble account?
  11. Where will the funds be disbursed to?
  12. Can I make full repayment for my Fund Transfer prior to the end of the promotion period? Are there any penalty fees for early repayment?
  13. Is CreditAble open to Maybank staff?
  14. Can I apply for the Maybank Fund Transfer if I have an existing CreditAble Term Loan?

  1. What is Maybank Fund Transfer?

    Maybank Fund Transfer is a new feature under CreditAble whereby customers can utilise funds from their CreditAble account at special interest rates for period of 6 or 12 months.

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  2. What is the difference between the existing Maybank Fund Transfer and the newly launched Maybank Fund Transfer for CreditAble customers?

    The existing Maybank Fund Transfer is only applicable for Credit Cardholders while the current Maybank Fund Transfer that we are introducing is for CreditAble customers.

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  3. How can I apply for fund transfer?

    You must an existing CreditAble customer to apply.

    Application Channels
    • Standalone CreditAble Fund Transfer Application Form (via billing insert)
    • Online CreditAble Fund Transfer Application Form
    Documents Required?
    • No

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  4. Is my Joint Account Holder’s signature required during application?

    Yes, it will be required if you have indicated for you and your Joint Account Holder’s signature to be presented during application.

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  5. Which are the banks that I can transfer my funds to?

    You may transfer your funds to any other bank(s).

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  6. How many fund transfer can I take up?

    There is no limit on the number of fund transfer that you may take up as long as you have sufficient credit limit.

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  7. How long will it take for my fund transfer application to be processed?

    Upon receiving of fund transfer application by the Bank, funds will be transferred to your nominated Bank within 3-5 business days.

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  8. How do I know when the loan is approved?

    Upon approval of your fund transfer, a Fund Transfer approval letter will be sent to you to inform you on the fund transfer details.      

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  9. What is the minimum and maximum loan amount that I can apply for?

    The minimum loan amount is S$2,000 and the maximum loan amount will be 95% of your available credit limit under CreditAble.

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  10. Will my CreditAble Fund Transfer have a different account number from my CreditAble account?

    A sub account number will be created for your CreditAble Fund Transfer. The CreditAble Fund Transfer account will start with 04133XXXXXX.     

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  11. Where will the funds be disbursed to?

    Funds will be transferred to your nominated Bank as per indicated on the Fund Transfer application. Please note that the name as per the nominated bank account must belong to the CreditAble applicant (3rd party account is not allowed).

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  12. Can I make full repayment for my Fund Transfer prior to the end of the promotion period? Are there any penalty fees for early repayment?

    You may make full repayment to your fund transfer prior to the end of the promotion period without incurring any penalty charges.  Please call 1800-MAYBANK (1800 – 629 2265) for the full repayment amount. Your CreditAble Fund Transfer account will automatically be cancelled (on the 15th of each month) once the outstanding balance under your FT account is fully repaid.

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  13. Is CreditAble open to Maybank staff?

    No. CreditAble is not available to Maybank staff. Hence, they are not able to apply for Maybank Fund Transfer on CreditAble.

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  14. Can I apply for the Maybank Fund Transfer if I have an existing CreditAble Term Loan?

    Yes. You may apply for Maybank Fund provided that you have sufficient available Credit Limit.

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