Maybank SaveUp Reviews and Comparison - Seedly
Reviews (6)
4.3
Reviews (6)
4.3
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  • Updated on 24 Mar 2019
    I applied in late Feb, so I probably got the worst of their changing T&Cs. At first I was upset and decided to switch all my money out (it was a principles thing; I felt cheated after going the extra mile to get GIRO/salary crediting done, etc). Here's where it gets bad: When I tried to use their app to transfer my money out, I realised you can't add payees via your phone? So I used Safari and.. for some reason, the OTP would not work out. Sure. So I went down to the bank, and tapped the "Transfer to other bank" option, only to get an error message. Their branch officer reassured me that this was poor UX because even DBS wouldn't allow that, at which point I was distracted by why they would even put a button that doesn't work in their ATM.. but.. friends... pls remember that you can actually make inter bank transfers via the ATM. All in all the worst experience ever. I haven't listed all the sordid details of their crappy app experience (inaccurate use of language and poor use of colour, resulting in a lot of efficiency and confusion). I think it's a blessing in disguise that my telco rejected my GIRO application (wrong account number filled), and Maybank rejected my credit card application (it's okay guys, the card proposition is good, but I value sanity over miles).
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  • Updated on 10 Dec 2018
    This is especially good for if you prefer to earn miles from their credit card. I spend a minimum $500 monthly with Maybank Horizon Visa Signature Card and able to earn miles with 3% interest.
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  • Updated on 10 Jul 2018
    3% interest! Personally my account of choice over UOB ONE, DBS multiplier etc. Need to meet 3 out of 9 conditions. Just credit salary, $500 spend on credit card and $300 GIRO payment every month ( I use GIRO for IRAS and Utilities). Also possible to optimise further by combining with UOB ONE account for high spenders
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  • Updated on 18 Mar 2018
    I have been using both OCBC 360 and SCB Bonus $saver but have switched from those to Maybank Saveup for several reasons: (1) the interest is attractive (up to 3%); (2) Maybank Platinum Visa card has no annual fee to deal it - big deal for me; (3) min. amount to be kept in the account is $1K versus $3K for the other 2; (4) no cheque book issued; (5) Debit mastercard & internet banking token is issued on the same day of account opening - that is so efficient! (6) i just need 1 giro transaction of at least $300 to hit one of the hurdles - this means i can leave the other giros for other hurdle savings account. So if you haven't consider Maybank Saveup do give it a serious look.
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  • Updated on 24 Jan 2018
    same here! We use Maybank SaveUp for their 3% interest - very competitive rate + $50k insurance! We also use it for savings and not so much for transactions, so I'm ok with the user interface & lack of ATMs. Plus, their Maybank Platinum Visa Card has no annual fee, provided there is at least 1 transaction every quarter, and gives 3.33% cashback on almost any category of $300 spending - fuss-free! Agree that Maybank Saveup is really underrated, in fact, I had moved over from OCBC 360 to Maybank Saveup. For the same criteria Salary , Spending & GIRO: from 1.85% to 3% - straightforward decision ;) For daily transactions we use UOB One (3.33%). We get good interest with this combi :)
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  • Updated on 24 Jan 2018
    My husband and I applied maybank saveup joint account as we have applied housing loan through maybank, with his salary crdeit and $300 giro bills we can enjoy up to 3% interest. I'm very happy with it so far. This maybank account meant for saving so much transaction done, thus I'm ok with their internet banking design.
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About Maybank SaveUp
Min Rate0.3125%
Max Rate3.00%
Min Initial Deposit$500
Interest TiersBased on Salary credit and 4 category transactions (card spend, bills, insurance, investments, home loan instalments)

How to maximise the interest rate for Maybank SaveUp Savings Account?

Base interest rate(%) p.a.

The base interest rate per annum for Maybank SaveUp savings account is 0.3125%

Bonus Interest Rate(%) p.a

The bonus interest rate per annum for Maybank SaveUp savings account comes with a few criteria:

  • 0.3% p.a. bonus for consumers on 1 of the Maybank products
  • 0.8% p.a. bonus for consumers on 2 of the Maybank products
  • 2.75% p.a. bonus for consumers on 3 of the Maybank products

*Bonus interest only applies to the first S$60,000 in the bank balance.

Here are the minimum amount required for each of the eligible Maybank Product:

  • Minimum S$2,000 for salary crediting
  • Spend a minimum of S$500 for credit card
  • GIRO Payment of minimum S$300
  • Minimum S$10,000 new education loan
  • Minimum S$35,000 new hire purchase loan
  • Minimum S$200,000 new home loan
  • Spends a minimum of S$5,000 on annual premiums for Life Insurance
  • Minimum S$10,000 new renovation loan
  • Invests a minimum on S$30,000 annually or S$300 monthly on Unit Trust

Terms and fees for Maybank SaveUp Savings Account

  • Initial deposit: S$1,000 for foreigners and S$500 for Singaporeans and PRs
  • Citizenship status: Singaporeans, PRs and foreigners
  • Minimum age to open account: 18
  • Minimum Average Daily Balance: S$500
  • Fall below fee: S$2
  • Early closure fee: S$30 if below 6 months