With $61 billion assets and 1800 employees, Maybank Singapore is one of the biggest financial services providers in the country.
In the country’s market, the bank provides such services as:
- personal banking
- private banking
- wholesale banking
- SME banking
- and Islamic banking for locals and foreigners.
Below are some of the banking account types that a new client would be interested in.
Savings Account
The bank’s Savings Account lets a client track their account history using passbook. It also comes with tiered interest rates to optimize the client’s savings. To apply for this account, a new customer needs a min of 500 SGD for locals and 1000 SGD for foreigners. The monthly fees are 2 SGD for locals and 5 SGD for foreigners. Both can be waived if the client has a 1000 SGD min avg daily balance.
iSAVvy Saving Account
With this account, a new client can earn extra interest-on-interest for their loyalty, in addition to ordinary interest rates. The monthly fees are 2 SGD. The fee is waivable if the client has a 500 SGD min avg daily.
iSAVvy Saving Plus Account
When a client opens this account, they can earn an extra 1.56% p.a. bonus interest for any increase in the account’s avg daily balance. The interest is determined daily and credited every month.
SaveUp Account
This account provides clients with higher interest than the passbook savings account. The client can also withdraw funds using the Maybank Platinum Debit Card or ATM card. The monthly fee is 2 SGD and is waivable if the customer has a 1,000 SGD min avg daily balance.
Privilege Plus Savings Account
This account provides free personal accident insurance coverage in addition to attractive interest rates on savings. It can be opened by clients between 50 and 70 years old who have min savings of 30,000 SGD in their accounts. The monthly charges are 2 SGD for locals and 5 SGD for foreigners. Such fee is waivable if the client maintains a 1,000 SGD min avg daily balance.
Youngstarz Savings Account
This account is geared towards parents who want to save for their children. It comes with exclusive birthday privileges during the child’s birthday month. The min initial deposit is 10 SGD.
PremierOne Account
This account provides the highest tiered interest rates as well as daily interest and 24-hour access for the bank’s clients. The monthly account and service fees are 2 SGD and 8.5 SGD respectively. The service fees can be waived if the customer maintains a 3,000 SGD min avg daily balance.