24 Apr 2020
I am torn between opening the Maybank SaveUp account and the iSaVvy Saving Plus account. What factors should I consider when choosing a savings account?
Is there a specific reason why you want to choose Maybank? (just wondering). If you have eligible transactions, you can hit up to 3% with Maybank Saveup. For Savings Plus, the condition is that you will need to have additional average daily balance every month for bonus interest (1.94%).
You can use Maybank's interest rate calculator here: https://www.maybank2u.com.sg/en/personal/saveup....
You can then compare with other savings accounts here: https://seedly.sg/reviews/savings-accounts
For me, I would think about which gives me the highest interest rate. I would also consider if there are cards that I can utilise on for cashback on my existing spendings (and the ease of spending). Paynow does not support Maybank as of yet.
Write your thoughts
Maybank SaveUp Account
Up to 3% p.a.
MIN. INITIAL DEPOSIT
MIN. AVG DAILY BALANCE
Maybank iSAVvy Savings Plus Account
Standard Chartered JumpStart Account