Maybank Fixed Deposit Rate (Singapore)

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.

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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.

Types of Maybank Fixed Deposit Schemes

FD Plans Minimum Deposit Limit Maximum Deposit Limit Tenure (in months) Rate of Interest (% p.a.)
iSAVvy Time Deposit
  • SGD 5000 (3 to 6 months)
  • SGD 20000 (12 to 36 months)
 SGD 1 million 3 months to 36 months 0.25% p.a. to up to 3.9% p.a.
Singapore Dollar Time Deposit
  • SGD 1,000 (3 months to 36 months)
  • SGD 10000 (1 month)
 SGD 999999 1 month to 36 months 0.1% p.a. to up to 2.85% p.a.
Maybank Privilege Plus Time Deposit
  • SGD 50000 (6 to 12 months) 
  • SGD 20000 (12 months)
 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)
  • 10 thousand (Other foreign currencies)
  • 2.5 million (Japanese Yen)
 No limits 1 month to 6 months Up to 4.45% p.a.
Foreign Currency Time Deposit (Tier 2)
  • 50 thousand (Other foreign currencies)
  • 10 million (Japanese Yen)
 No limits 1 month to 6 months Up to 4.50% p.a.
Foreign Currency Time Deposit (Tier 3)
  • 100 thousand (Other foreign currencies)
  • 25 million (Japanese Yen)
 No limits 1 month to 6 months Up to 4.65% p.a.
iSAVvy Foreign Currency Time Deposit
  • 10 thousand (Foreign currencies)
 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.

Maybank iSAVvy Time/Fixed Deposit Scheme Interest Rates

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.

Singapore Dollar Time/Term Deposit Scheme Interest Rates

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 Time/Fixed Deposit Scheme Interest Rates (Tier-1)

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 Time/Fixed Deposit Scheme Interest Rates (Tier-2)

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 Time/Fixed Deposit Scheme Interest Rates (Tier-3)

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.

Maybank iSAVvy Foreign Currency Time Deposit Scheme Interest Rates

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.

Features of Maybank Singapore Privilege Plus FD Account

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

About Maybank Singapore iSAVvy FD Rates

  • 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

Eligibility Criteria

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

Premature Withdrawals

  • 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.

Documents Required

  • 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)

How to Subscribe to Maybank FD Scheme

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."

FAQ's

  • Which bank offers the highest FD rate in Singapore?

    CIMB and HL Bank, with the best interest rates of 4.20% and 4.1% for 12 months tenure and a minimum deposit of SGD100000, is the best FD rate offered to individuals.

  • What is Maybank Flexi Fixed Deposit?

    The eFD of certificates Fixed Deposit is a receipt/certificate less FD that can be bought and withdrawn from Maybank2u.com anytime online. One also enjoys the benefit to earn fixed rates of FD as well.

  • Which is the best FD for senior citizens in 2023?

    In India, the top public sector banks that offer the highest FD interest rates for senior citizens are:
    • Union Bank of India: Maximum slab of 7.80% p.a. 
    • PNB: Maximum slab of 7.75% p.a. 
    • Canara Bank: Maximum slab of 7.50% p.a. 
    The top private sector banks also offer attractive FD interest rates to senior citizens, like
    • DCB Bank: Maximum slab of 8.35% p.a. 
    • RBL Bank: Maximum slab of 8.05% p.a. 
    • Bandhan Bank: Maximum slab of 8% p.a.

  • Will interest rates go up in 2023 Singapore?

    Singapore, a nation with high GDP, always has high inflation rates (7.5% in September 2022) and high-interest rates of an average of 3.89%. According to financial experts, with the soaring market trends, interest rates will likely go up in 2023.

  • Which bank's FD rate is high in 2022 in Malaysia?

    In Malaysia, the Simpanan Nasional Bank offered the highest interest rates of 3.25% for 12 months of FD.

  • What is better than FD in Malaysia?

    Cash Management Funds (CMF) or money market funds are a better choice than Fixed Deposits in Malaysia. The CMFs invest in high-quality investments with an average return of 3% p.a. and mature fast with low-risk involvement.
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