Maybank iSAVvy Savings Account
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Summary
iSAVvy is a savings account by Maybank that allows easy access to your funds via ATM or Maybank2u Online Banking. iSAVvy has one of the highest base interest rates starting from 0.1875% to 0.35%p.a., depending on your account balance. Only account balances above S$200,000 will get to enjoy the highest accruable rate of 0.35% p.a.
Maybank's iSAVvy Savings Account used to offer interest-on-interest that pays out every 6 months if you increase your average daily balance but they are temporarily halting this feature. Hence, as of Jan 2021, only the base prevailing interest rates will apply
Maybank iSAVvy Savings Account
Up to 1.90% p.a.
INTEREST RATES
$500
MIN. INITIAL DEPOSIT
$1,000
MIN. AVG DAILY BALANCE
Maybank iSAVvy Savings Account
Up to 1.90% p.a.
INTEREST RATES
$500
MIN. INITIAL DEPOSIT
$1,000
MIN. AVG DAILY BALANCE
4.0
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Maybank iSAVvy Savings Account
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Incremental Average Daily Balance (ADB) | Base Rates (p.a.) | Interest-on-Interest (paid every 6 months) | Total Effective Interest Rate (p.a.) |
---|---|---|---|
Below S$5,000 | 0.1875% p.a. | - | 0.1875% p.a. |
S$5,000 to below S$50,000 | 0.25% p.a. | - | 0.2500% p.a. |
S$50,000 to below S$100,000 | 0.25% p.a. | - | 0.25% p.a. |
S$100,000 to below S$200,000 | 0.25% p.a. | - | 0.25% p.a. |
S$200,000 and above | 0.35% p.a. | - | 0.35% p.a. |
Rates available from 1 March - 30 April 2020
NOTE: This interest-on-interest feature is temporarily unavailable as of January 2021
Despite removing their interest-on-interest feature, the Maybank iSAVvy Savings Account is still pretty attractive as it offers relatively high base interest rates, although it is not the highest offered. It is ideal for people who want an easy fuss-free savings account without additional criteria, and have a large account balance.
With the necessary documents like Passport, NRIC, and Proof of Mailing Address, you can apply Online on Maybank's website (via Myinfo or without) or Visit Maybank branches.
Contact us at [email protected] should you require any assistance or spot any inaccuracies.
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