Are you interested in opening a Maybank savings account but don’t want to leave the comfort of your own home? You’re in luck! Because there are Maybank savings accounts you can apply now.
The bank offers the ability to apply for a savings account online. This means you can skip the queues and open an account from your computer or mobile device. In this article, we’ll explore the types of savings accounts you can apply for online, the eligibility criteria for online applications, and how to apply for an account.
Maybank offers a range of savings accounts to suit different needs. From the Passbook Savings Account to the iSAVvy Savings Account, there’s an account for everyone. The Passbook Savings Account is perfect for those who prefer traditional banking, while the iSAVvy Savings Account offers a higher interest rate for those who want to maximise their savings.
Other types of accounts include the PremierOne Account, the Foreign Currency Current Account, and the Basic Savings Account. All of these accounts can be applied for online, making it easier and more convenient for you.
To apply for a Maybank savings account online, you’ll need to meet certain eligibility criteria. This includes being at least 16 years old and a Singapore Citizen, Permanent Resident, or Foreigner. You’ll also need to have a valid MyInfo account or passport if you’re a Foreigner. Once you’ve met the eligibility criteria, you can apply for an account online by following a few simple steps. We’ll cover this in more detail later in the article.
Key Takeaways
- Maybank offers a range of savings accounts that can be applied for online, including the Passbook Savings Account and the iSAVvy Savings Account.
- To apply for a Maybank savings account online, you’ll need to meet certain eligibility criteria, such as being at least 16 years old and having a valid MyInfo account or passport.
- Applying for a Maybank savings account online is a convenient and easy process that can be done from your computer or mobile device.
Types of Maybank Savings Accounts Available Online
If you’re looking for a convenient way to open a savings account, Maybank offers online application for several types of savings accounts. Here are the types of Maybank savings accounts that you can apply for online:
iSAVvy Savings Account
The iSAVvy Savings Account is a high-interest savings account that offers an attractive interest rate of up to 0.40% p.a. (as of January 2024). To apply for this account online, you will need to make a minimum initial deposit of S$500. With this account, you can enjoy the convenience of managing your account online, as well as the flexibility of making withdrawals without any penalty fees.
Maybank SaveUp Account
The Maybank SaveUp Account is a savings account that rewards you for saving. With this account, you can earn up to 2.75% p.a. bonus interest when you have three or more qualifying products such as salary or GIRO, home loans, car loans, investments, and insurance. To apply for this account online, you will need to make a minimum initial deposit of S$500.
Maybank Youngstarz Savings Account
The Maybank Youngstarz Savings Account is a savings account designed for children aged 16 years and below. With this account, your child can learn the importance of saving and managing money. The account offers an attractive interest rate of up to 0.50% p.a. To apply for this account online, you will need to make a minimum initial deposit of S$10.
Maybank eVibes Savings Account
The Maybank eVibes Savings Account is a savings account designed for young adults aged 16 to 35 years old. This account offers an attractive interest rate of up to 0.50% p.a. and comes with a debit card that offers exclusive deals and discounts. To apply for this account online, you will need to make a minimum initial deposit of S$500.
No matter what your savings goals are, Maybank has a savings account that suits your needs. With the convenience of online application and management, opening a savings account has never been easier.
Eligibility Criteria for Online Application
If you’re looking to apply for a Maybank savings account online, you’ll need to meet certain eligibility criteria. Here are the requirements for each group of applicants:
Singapore Citizens and Permanent Residents
If you’re a Singapore citizen or permanent resident, you’ll need to have a minimum age of 16 years old and a valid NRIC. You’ll also need to deposit a minimum of S$500 to open an iSAVvy savings account online. If you’re under the age of 18, you’ll need to have a parent or legal guardian co-sign the application.
Foreigners and Expatriates
Foreigners and expatriates who wish to apply for a Maybank savings account online will need to have a valid passport, employment pass, S-pass, or student pass. You’ll also need to deposit a minimum of S$500 to open an iSAVvy savings account online. If you’re under the age of 18, you’ll need to have a parent or legal guardian co-sign the application.
Maybank Malaysia Customers
If you’re a Maybank Malaysia customer, you can apply for a savings account online using your existing Maybank2u.com.my login credentials. You’ll need to deposit a minimum of S$500 to open an iSAVvy savings account online.
In all cases, you’ll need to have a valid email address and mobile phone number to complete the online application process. Once you’ve submitted your application, you’ll receive an email confirmation with instructions on how to activate your account.
To summarise, if you’re a Singapore citizen or permanent resident, you’ll need a valid NRIC and a minimum age of 16 years old. Foreigners and expatriates will need a valid passport, employment pass, S-pass, or student pass. Maybank Malaysia customers can use their existing login credentials. All applicants will need to deposit a minimum of S$500 to open an iSAVvy savings account online.
How to Apply for a Maybank Savings Account Online
Are you looking to open a Maybank savings account but don’t want to leave the comfort of your own home? Good news! You can now apply for a Maybank savings account online. Here’s how:
Using MyInfo for Seamless Application
If you have a SingPass account, you can use MyInfo to easily fill in your personal details when applying for a Maybank savings account online. This saves you time and hassle, as you won’t need to manually enter your information. Simply log in to your SingPass account when prompted during the application process, and your personal details will be automatically filled in for you.
Manual Application Process
If you don’t have a SingPass account or prefer to manually enter your information, you can still apply for a Maybank savings account online. Here’s how:
- Visit the Maybank2U SG website and click on “Apply Now” under the savings account section.
- Log in to your Maybank2U SG account. If you don’t have an account yet, you’ll need to create one.
- Fill in your personal details, including your name, NRIC/passport number, mailing address, and contact information.
- Choose the type of savings account you want to open. Maybank offers a variety of savings accounts to suit different needs, including the SaveUp Account and the iSAVvy Savings Account.
- Upload the required documents. You’ll need to provide proof of your mailing address, such as a utility or telco bill. You may also need to provide a signature, depending on the type of account you’re opening.
- Review and confirm your application. Once you’re happy with the details you’ve entered, click “Submit” to complete your application.
And that’s it! Applying for a Maybank savings account online is quick, easy, and convenient. So why wait? Open your account today and start saving for your future.
Understanding the Terms and Conditions
When you apply for a Maybank savings account online, it is important to understand the terms and conditions that come with it. These terms and conditions govern the use of your account and outline the rights and responsibilities of both you and Maybank.
One important aspect of the terms and conditions is the interest rate. Maybank offers competitive interest rates on its savings accounts, which can help you grow your savings over time. Be sure to check the interest rate of the account you are applying for to ensure it meets your needs.
Another aspect to consider is the monthly fee. Some Maybank savings accounts may charge a monthly fee if your average balance falls below a certain threshold. Make sure you understand the fee structure of your chosen account to avoid any surprises.
Maybank is a member of the Deposit Insurance Scheme, which means your deposits are insured up to a certain amount. This provides an added layer of security for your savings.
In summary, it is important to carefully read and understand the terms and conditions of your Maybank savings account before applying online. This will help you make an informed decision and ensure you get the most out of your account.
Managing Your Account Online
If you have recently opened a Maybank Savings Account online, you can manage your account from the comfort of your home or on the go using Maybank2U Online Banking and Maybank2U SG (Lite) App. These digital platforms offer a range of features to help you monitor your account and perform transactions with ease.
Navigating Maybank2U Online Banking
Maybank2U Online Banking is a user-friendly platform that allows you to access your account information, transaction history, and bank statement. You can also perform various transactions such as fund transfers, bill payments, and foreign currency exchange. The platform is secured with two-factor authentication to ensure the safety of your account.
Utilising the Maybank2U SG (Lite) App
The Maybank2U SG (Lite) App is a mobile application that offers similar features to the online platform. You can view your account balance, transaction history, and make fund transfers to other Maybank accounts or PayNow registered accounts. The app also allows you to perform PayNow transactions and QR code payments.
Setting Up GIRO for Regular Payments
If you have regular payments such as bills or loan repayments, you can set up GIRO for automatic deductions from your Maybank Savings Account. This convenient feature ensures that your payments are made on time, without the need for manual transactions. You can set up GIRO through Maybank2U Online Banking or by submitting a GIRO application form to any Maybank branch.
In conclusion, managing your Maybank Savings Account online is a convenient and secure way to monitor your account and perform transactions. With Maybank2U Online Banking and Maybank2U SG (Lite) App, you can access your account information, transaction history, and perform transactions with ease. Setting up GIRO for regular payments is also a convenient way to ensure that your payments are made on time.
Maximising Your Savings
When it comes to saving money, it’s important to make sure that your hard-earned cash is working as hard for you as possible. With Maybank’s online savings accounts, you have access to a wide range of options that can help you maximise your savings and reach your savings goals faster. Here are some ways that you can make the most of your Maybank savings account:
Leveraging Higher Interest Rates
One of the main benefits of a savings account is the interest that you earn on your balance. With Maybank’s online savings accounts, you can take advantage of competitive interest rates that can help your savings grow faster. For example, the Maybank Save Up Programme allows you to earn up to 3% p.a. on the first S$50,000 of your account balance when you save, spend, invest, insure or borrow with Maybank. Additionally, the iSAVvy Savings Account offers up to 2.5% p.a. interest when you deposit a minimum of S$3,000 and meet the deposits requirement. By leveraging these higher interest rates, you can boost your savings and reach your goals faster.
Exploring Structured Deposits and Unit Trusts
In addition to traditional savings accounts, Maybank also offers structured deposits and unit trusts that can help you maximise your savings. Structured deposits are investment products that offer a fixed return over a set period of time, while unit trusts are professionally managed funds that invest in a diversified portfolio of assets. Both of these options can help you earn higher returns on your savings, but they do come with some risks. It’s important to do your research and understand the risks before investing in these products.
Overall, Maybank’s online savings accounts offer a range of options that can help you maximise your savings and reach your goals faster. By leveraging higher interest rates and exploring structured deposits and unit trusts, you can make the most of your savings and achieve financial success.
Additional Services and Features
Business Internet Banking Solutions
If you are a business owner, you can apply for Maybank’s Business Internet Banking (BIB) which provides a secure and convenient way to manage your business finances online. With BIB, you can access your account balances, transaction history, and perform a range of banking transactions such as fund transfers, bill payments, and more. You can also customize your dashboard to suit your business needs and preferences.
To apply for BIB, you will need to provide your business details and sign up for SingPass, a national digital identity for Singapore residents. Once you have SingPass, you can complete the online application process for BIB within minutes.
Accessing Support and Assistance
Maybank offers a range of support and assistance options to help you with your online banking needs. If you have any questions or issues, you can contact their customer service team via phone, email, or visit one of their branches. Maybank also provides a comprehensive FAQ section on their website which covers a range of topics such as account opening, online banking, and security.
In addition, Maybank provides a range of information and resources to help you make the most of your online banking experience. This includes online tutorials, user guides, and tips on how to stay safe and secure online. Maybank also provides regular updates and alerts on their website and mobile app to keep you informed about any changes or updates to their services.
Overall, Maybank provides a range of additional services and features to help you manage your finances online. Whether you are a business owner or an individual, Maybank’s online banking platform offers a range of tools and resources to help you stay on top of your finances.
Frequently Asked Questions
What’s the scoop on opening a Maybank savings account from the comfort of my home in Singapore?
You can easily open a Maybank savings account online from the comfort of your own home in Singapore. All you need is access to the internet and a device that can connect to it. Simply visit the Maybank website and follow the instructions to apply for your account.
Fancy knowing the lowest sum I need to keep in my Maybank savings account?
The minimum initial deposit for a Maybank savings account in Singapore is S$500 for Singaporeans and PRs, and S$1,000 for foreigners. To avoid a monthly fee, you must maintain an average balance of at least S$1,000.
Which Maybank savings account offers the most smashing benefits right now?
Maybank’s iSAVvy Savings Plus Account offers some of the most attractive benefits right now, including an attractive monthly interest rate and bonus interest of 1.56% p.a. To open this account, you must make a minimum opening deposit of S$500.
Is it possible for someone not from Singapore to start a Maybank savings account online?
Yes, it is possible for non-Singaporeans to open a Maybank savings account online. However, they must make a higher minimum initial deposit of S$1,000 and maintain an average balance of at least S$1,000 to avoid a monthly fee.
What’s the interest rate looking like for the Maybank Privilege Plus Savings Account these days?
The interest rate for the Maybank Privilege Plus Savings Account varies depending on the balance in your account. As of January 2024, the interest rates range from 0.25% p.a. for balances below S$50,000 to 0.55% p.a. for balances of S$200,000 and above.
Can I easily set up another savings account with Maybank through their online platform?
Yes, you can easily set up another savings account with Maybank through their online platform. Simply log in to your account and follow the instructions to apply for a new account. However, please note that you may be subject to additional fees and requirements for multiple accounts.
