Maybank Singapore offers customers attractive FD rates with two of the most sold investment instruments, Singapore iSAVvy Time Deposits for regular individuals and specially designed Fixed Deposit rates for senior citizens with its Maybank Privilege Plus Time Deposit. The bank offers the best FD interest rates for a tenure ranging from 3 months to 36 months. The minimum term deposits allowed are SGD 5,000 to a maximum of SGD 1 million, and the interest rates of up to 3.9% per annum.
Save upto ₹46,800 in tax under Sec 80C
Inbuilt Life Cover
Tax Free Returns Unlike FD
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Maybank Singapore offers 5 types of Fixed Deposit (FD) products, which are
Maybank iSAVvy Time Deposit Scheme
Singapore Dollar Time/Fixed Deposit Scheme
Maybank Privilege Plus Time Deposit Scheme
Maybank Foreign Currency Time Deposit Scheme
Maybank iSAVvy Foreign Currency Time Deposit Scheme.
FD Plans | Minimum Deposit Limit | Maximum Deposit Limit | Tenure (in months) | Rate of Interest (% p.a.) |
iSAVvy Time Deposit |
|
SGD 1 million | 3 months to 36 months | 0.25% p.a. to up to 3.9% p.a. |
Singapore Dollar Time Deposit |
|
SGD 999999 | 1 month to 36 months | 0.1% p.a. to up to 2.85% p.a. |
Maybank Privilege Plus Time Deposit |
|
SGD 1 million | 6 months to 36 months | 3.50% p.a. To up to 3.90% p.a. |
Foreign Currency Time Deposit (Tier 1) |
|
No limits | 1 month to 6 months | Up to 4.45% p.a. |
Foreign Currency Time Deposit (Tier 2) |
|
No limits | 1 month to 6 months | Up to 4.50% p.a. |
Foreign Currency Time Deposit (Tier 3) |
|
No limits | 1 month to 6 months | Up to 4.65% p.a. |
iSAVvy Foreign Currency Time Deposit |
|
No limits | 1 month to 6 months | Up to 4.65% p.a. |
(SGD: Singaporean Dollar)
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.
TENURE (months) | SGD 5000 to SGD 19999 (Rates in % p.a.) | SGD 20000 to SGD 50000 (Rates in % p.a.) | SGD 50001 to SGD 249999 (Rates in % p.a.) | SGD 250000 to SGD 1 million (Rates in % p.a.) |
3 months | 0.25 | 0.25 | 0.25 | 0.25 |
6 months | 0.30 | 3.50 | 3.50 | 3.50 |
1 year | – | 3.90 | 3.90 | 3.90 |
15 months | – | 3.90 | 3.90 | 3.90 |
1.5 years | – | 3.90 | 3.90 | 3.90 |
2 years | – | 3.80 | 3.80 | 3.80 |
3 years | – | 2.85 | 2.85 | 2.85 |
SGD: Singaporean Dollar
Rates are effective as of 7 November 2022.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.
Tenure (in Months) | SGD 1000 to SGD 50000 (Rates in % p.a.) | SGD 50001 to SGD 99999 (Rates in % p.a.) | SGD 100000 to SGD 249999 (Rates in % p.a.) | SGD 250000 to SGD 999999 (rates in % p.a.) |
1* month | 0.10 % | 0.10 % | 0.10 % | 0.10 % |
2 months | 0.10 % | 0.10 % | 0.10 % | 0.10 % |
3 months | 0.20 % | 0.20 % | 0.20 % | 0.20 % |
6 months | 0.25 % | 0.25 % | 0.25 % | 0.25 % |
9 months | 0.35 % | 0.35 % | 0.35 % | 0.35 % |
1 year | 0.35% | 0.35 % | 0.35% | 0.35% |
18 months | 0.40% | 0.40% | 0.40% | 0.40% |
2 years | 0.50% | 0.50% | 0.50% | 0.50% |
3 years | 2.85% | 2.85% | 2.85% | 2.85% |
* For a 1-month tenure period, the minimum deposit is SGD 10000.
Rates are effective as of 23 December 2022.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.
Foreign Currency | Minimum Deposit Limit (in respective currency) | Rates for 1 month (% p.a.) | Rates for 2 months (In % p.a.) | Rates for 3 months (In % p.a.) | Rates for 6 months (% p.a.) |
US $ | 10 thousand | 3.55% | 3.85% | 4.05% | 4.45% |
Sterling Pound (£) | 10 thousand | 2.60% | 2.90% | 3.10% | 3.65% |
Australian $ | 10 thousand | 1.80% | 2.05 | 2.25% | 2.65% |
New Zealand $ | 10 thousand | 2.80% | 2.90% | 3.25% | 4.00% |
Canadian$ | 10 thousand | 3.30% | 3.50% | 3.65% | 3.90% |
Swiss Franc (₣) | 10 thousand | 0.00% | 0.00% | 0.00% | 0.25% |
Euro (€) | 10 thousand | 0.55% | 0.85% | 1.15% | 1.80% |
Japanese Yen (¥) | 2.5 million | 0.00% | 0.00% | 0.00% | 0.00% |
Rates are effective as of 23 December 2022.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.
Foreign Currency | Minimum Deposit Limit (in respective currency) | 1 month (rates in % p.a.) | 2 months (rates in % p.a.) | 3 months (rates in % p.a.) | 6 months (rates in % p.a.) |
US $ | 50 thousand | 3.60% | 3.90% | 4.10% | 4.50% |
Sterling Pound (£) | 50 thousand | 2.70% | 3.00% | 3.20% | 3.75% |
Australian $ | 50 thousand | 1.90% | 2.15% | 2.35% | 2.75% |
New Zealand $ | 50 thousand | 2.90% | 3.00% | 3.35% | 4.10% |
Canadian $ | 50 thousand | 3.40% | 3.60% | 3.75% | 4.00% |
Swiss Franc (₣) | 50 thousand | 0.00% | 0.00% | 0.00% | 0.35% |
Euro (€) | 50 thousand | 0.60% | 0.90% | 1.20% | 1.85% |
Japanese Yen (¥) | 10 million | 0.00% | 0.00% | 0.00% | 0.00% |
Rates are effective as of 23 December 2022.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.
Foreign Currency | Minimum Deposit Limit (in respective currency) | 1 month (rate in % p.a.) | 2 months (rate in % p.a.) | 3 months (rate in % p.a.) | 6 months (rate in % p.a.) |
US $ | 100 thousand | 3.75% | 4.05% | 4.25% | 4.65% |
Sterling Pound (£) | 100K | 2.80% | 3.10% | 3.30% | 3.85% |
Australian $ | 100 thousand | 2.00% | 2.25% | 2.45% | 2.85% |
New Zealand $ | 100 thousand | 3.00% | 3.10% | 3.45% | 4.20% |
Canadian $ | 100 thousand | 3.50% | 3.70% | 3.85% | 4.10% |
Swiss Franc (₣) | 100 thousand | 0.00% | 0.00% | 0.00% | 0.45% |
Euro (€) | 100 thousand | 0.75% | 1.05% | 1.35% | 2.00% |
Japanese Yen (¥) | 25 million | 0.00% | 0.00% | 0.00% | 0.00% |
Rates are effective as of 23 December 2022.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.
Foreign Currency | Minimum Deposit Limit (in respective currency) | 1 month (rate in % p.a.) | 2 months (rate in % p.a.) | 3 months (rate in % p.a.) | 6 months (rate in % p.a.) |
Australian $ | 10 thousand | 2.00% | 2.25% | 2.45% | 2.85% |
Euro (€) | 10 thousand | 0.75% | 1.05% | 1.35% | 2.00% |
Sterling Pound (£) | 10 thousand | 2.80% | 3.10% | 3.30% | 3.85% |
New Zealand $ | 10 thousand | 3.00% | 3.10% | 3.45% | 4.20% |
US $ | 10 thousand | 3.75% | 4.05% | 4.25% | 4.65% |
Rates are effective as of 23 December 2022.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.
Maybank Fixed Deposit rates for senior citizens have the following features:
Minimum Eligible age: 55 years old
Minimum Deposits: SGD 50 thousand (6 months and more)
SGD 25 thousand (12 months and more)
Tenure: 6 months to 36 months
Online banking: YES
Round-the-clock Service: AVAILABLE
Monthly interests credited: YES
Upon maturity: Lump sum interest payment
Min. Deposit: SGD 5,000 (3 to 6 months)
Maximum Tenure: 36 months
Auto-renewal: YES
Daily Interest: NO
Early Withdrawal: YES
Accessibility to the overdraft facility
Offers auto-renewal of FD account
Type: Conventional
To access the Maybank Online Banking services, a customer must maintain a Maybank Savings or Current account.
Minimum Age: 16 years old
Minimum Deposit for iSAVvy Account: SGD 5,000 (3 to 6 months tenure)
Eligible Citizenship:
Singaporeans
Foreigners
Permanent residents
Fees & Charges on Deposit: No fees applicable
Fees for Withdrawal by:
Cash: SGD15
Transfer to Own Maybank Account: FREE
Transfer to Third Party Maybank Account: SGD 10
Cashier Issues Order to Account Holder: SGD 10
For Balance Enquiry: SGD 5/receipt
For Request for Statement of Account: SGD 30/account
For Change of Maturity Instruction: SGD 5/receipt
If withdrawal before 3 months tenure: No Interest is paid.
If withdrawal after minimum 3 months tenure: The interest is prorated depending on how many days the fixed deposit is held. It is calculated using either the contracted rate or the lowest tier of the current Savings Account rate at the moment of withdrawal, whichever is lower.
For Singapore Citizens or Permanent Residents:
NRIC
For Foreigners:
Passport
Employment Pass
Proof of Mailing Address (Utility/ Telecom bills/ Bank statements of other banks in Singapore with the same name as in the Passport and Employment Pass)
To place an FD online, one needs a Maybank Savings Account or a Maybank Current Account with Online Banking Access.
To make a deposit into an iSAVvy Time Deposit, sign in to Maybank2u Online Banking:
Step 1: Choose the Account Type > Click on "Time Deposit"> Press "Singapore Dollar Time Deposit"> Click on "iSAVvy Time Deposit."
Step 2: To place this order, choose the Debit Funds Account.
Step 3: To accept the iSAVvy FD placement, click "Agree."