Maybank Fixed Deposit Rate - Singapore

Maybank Singapore offers attractive FD interest rates to their customers over a fixed period of time. The bank raised their Fixed Deposit rates in the month of November as high as 3.50%, making it one of the highest FD rates available for NRIs. These NRI interest rates surpass those of many banks in Singapore, making Maybank an appealing choice for investors.

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Disclaimer: *The Guaranteed Returns are dependent on the policy term and premium term availed along with the other variable factors. 7.1% rate of return is for an 18 years old, healthy male for a policy term of 20 years and premium term of 10 years with Rs.10,000 monthly installment premium. All plans listed here are of insurance companies’ funds.

What is Maybank Fixed Deposit Rate - Singapore?

Maybank Fixed Deposit Rate – Singapore refers to the interest rate offered by Maybank in Singapore on its Fixed Deposit (FD) accounts. It represents the percentage at which the bank pays interest on the principal amount deposited by you for a specific term. 

The Maybank FD rate is predetermined and remains constant throughout the agreed-upon tenure. This provides a fixed and predictable return on the investment.

Types of Maybank Fixed Deposit Rate - Singapore

The different types of fixed deposit products offered by Maybank Singapore are as follows:

  • Maybank Deposit Bundle Scheme

  • Maybank iSAVvy Time Deposit Scheme

  • Singapore Dollar (SGD) Time Deposit Scheme

  • Singapore Dollar (SDG) Privilege Plus Time Deposit Scheme

  • Maybank Foreign Currency Time Deposit Scheme

  • Maybank iSAVvy Foreign Currency Time Deposit Scheme

Overview of Maybank Singapore Time Deposit Schemes:

FD Plans Minimum Deposit Limit Maximum Deposit Limit Tenure 
(in months)		 Rate of Interest 
(in % p.a.)
Deposit Bundle Promotion Time Deposit Scheme
  • SGD 20,000 in SGD Time Deposit Scheme
 SGD 1 million 12 – 24 months 2.95% - 3.50% p.a.
iSAVvy Time Deposit Scheme SGD 5,000 SGD 1 million 1 - 36 months 0.15% - 2.85% p.a.
Singapore Dollar Time Deposit Scheme
  • SGD 20,000 (1 - 36 months)
  • SGD 10,000 (1 month)
 SGD 9,99,999 1 - 36 months 0.10% - 2.85% p.a.
Singapore Dollar Privilege Plus Time Deposit Scheme
  • SGD 50,000 (6 months & above)
  • SGD 25,000 (12 months & above)
 SGD 9,99,999 6 - 36 months 0.20% - 2.95% p.a.
Foreign Currency Time Deposit (Tier 1)
  • 10,000 units (Other foreign currencies)
  • 2.5 million units(Japanese Yen)
 No limits 1 - 6 months Up to 5.00% p.a.
Foreign Currency Time Deposit (Tier 2)
  • 50,000 units (Other foreign currencies)
  • 10 million units (Japanese Yen)
 No limits 1 - 6 months Up to 5.05% p.a.
Foreign Currency Time Deposit (Tier 3)
  • 100,000 units (Other foreign currencies)
  • 25 million units (Japanese Yen)
 No limits 1 - 6 months Up to 5.20% p.a.
iSAVvy Foreign Currency Time Deposit
  • 10,000 units (Foreign currencies)
 No limits 1 - 6 months Up to 5.20% p.a.

(SGD: Singaporean Dollar)
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

Details of Maybank Fixed Deposit Rate – Singapore

  1. Maybank Deposit Bundle Promotion Scheme

    Tenure Interest Rate (in % p.a.)
    12 months 3.50%
    15 months 3.50%
    18 months 2.95%
    24 months 2.95%

    Rates are effective as of 24 November 2023.

  2. Features of Maybank Deposit Bundle Promotion Scheme:

    • Eligibility: Individuals, Small and Medium Enterprises (SME), and Commercial Banks

    • Minimum Amount: SGD 20,000 (deposits in SGD Time Deposit Scheme)

    • Maximum Interest Rate: 3.50% p.a.

  3. Maybank Fixed Deposit Rate Singapore- iSAVvy Time Deposit Scheme

    Tenure (in months) SGD 5,000 - SGD 19,999 (in % p.a.) SGD 20,000 - SGD 50,000 (in % p.a.) SGD 50,001 - SGD 2,49,999 (in % p.a.) SGD 2,50,000 - SGD 1 million (in % p.a.)
    1 month 0.15% 0.15% 0.15% 0.15%
    2 months 0.15% 0.15% 0.15% 0.15%
    3 months 0.25% 0.25% 0.25% 0.25%
    6 months 0.30% 0.30% 0.30% 0.30%
    9 months 0.40% 2.55% 2.55% 2.55%
    1 year – 2.65% 2.65% 2.65%
    15 months – 2.65% 2.65% 2.65%
    1.5 years – 2.35% 2.35% 2.35%
    2 years – 2.35% 2.35% 2.35%
    3 years – 2.85% 2.85% 2.85%

    SGD: Singaporean Dollar
    Rates are effective as of 24 November 2023.
    Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

Maybank Fixed Deposit Rate- Singapore Dollar Time Deposit Scheme

Tenure (in months) SGD 1,000 - SGD 50,000 (in % p.a.) SGD 50,001 - SGD 99,999 (in % p.a.) SGD 1,00,000 - SGD 2,49,999 (in % p.a.) SGD 2,50,000 - SGD 9,99,999 (in % p.a.)
1* month 0.10 % 0.10 % 0.10 % 0.10 %
2 months 0.10 % 0.10 % 0.10 % 0.10 %
3 months 0.20 % 0.20 % 0.20 % 0.20 %
6 months 0.25 % 0.25 % 0.25 % 0.25 %
9 months 0.35 % 0.35 % 0.35 % 0.35 %
1 year 0.35% 0.35 % 0.35% 0.35%
18 months 0.40% 0.40% 0.40% 0.40%
2 years 0.50% 0.50% 0.50% 0.50%
3 years 2.85% 2.85% 2.85% 2.85%

* For a 1-month tenure period, the minimum deposit is SGD 10,000.
Rates are effective as of 24 November 2023.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

Maybank Fixed Deposit Rate- Singapore Dollar Privilege Plus Time Deposit Scheme

Tenure (in months) SGD 1,000 - SGD 50,000 (in % p.a.) SGD 50,001 - SGD 99,999 (in % p.a.) SGD 1,00,000 - SGD 2,49,999 (in % p.a.) SGD 2,50,000 - SGD 9,99,999 (in % p.a.)
6 months 0.35 % 0.35 % 0.35 % 0.35 %
9 months 0.45 % 0.45 % 0.45 % 0.45 %
1 year 0.45% 0.45 % 0.45 % 0.45 %
18 months 0.50% 0.50% 0.50% 0.50%
2 years 0.60% 0.60% 0.60% 0.60%
3 years 2.95% 2.95% 2.95% 2.95%

* For a 1-month tenure period, the minimum deposit is SGD 10,000.
Rates are effective as of 24 November 2023.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

Maybank Fixed Deposit Rate Singapore- Foreign Currency Time Deposit Scheme (Tier-1)

Foreign Currency Minimum Deposit  (in respective currency) Maybank Fixed Deposit Rate (in % p.a.)
1-month 2-month 3-month 6-month
US $ 10,000 4.60% 4.75% 4.85% 5.00%
Sterling ÂŁ 10,000 4.50% 4.60% 4.70% 4.85%
AU $ 10,000 3.30% 3.40% 3.50% 3.75%
NZ $ 10,000 4.20% 4.35% 4.50% 4.65%
CD $ 10,000 4.15% 4.20% 4.30% 4.40%
Swiss â‚Ł 10,000 0.90% 0.90% 0.90% 1.05%
EU € 10,000 3.05% 3.10% 3.15% 3.25%
JP ÂĄ 2.5 million 0.00% 0.00% 0.00% 0.00%

Rates are effective as of 24 November 2023.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

Maybank Fixed Deposit Rates- Foreign Currency Time Deposit Scheme (Tier-2)

Foreign Currency Minimum Deposit  (in respective currency) Maybank Fixed Deposit Rate (in % p.a.)
1 month 2 months 3 months 6 months
US $ 50,000 4.65% 4.80% 4.90% 5.05%
Sterling ÂŁ 50,000 4.60% 4.70% 4.80% 4.95%
AU $ 50,000 3.40% 3.50% 3.60% 3.85%
NZ $ 50,000 4.30% 4.45% 4.60% 4.75%
CD $ 50,000 4.25% 4.30% 4.40% 4.50%
Swiss â‚Ł 50,000 1.00% 1.00% 1.00% 1.15%
EU € 50,000 3.10% 3.15% 3.20% 3.30%
JP ÂĄ 10 million 0.00% 0.00% 0.00% 0.00%

Rates are effective as of 24 November 2023.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

Maybank Fixed Deposit Rate Singapore- Foreign Currency Time Deposit Scheme (Tier-3)

Foreign Currency Minimum Deposit  (in respective currency) Maybank Fixed Deposit Rate (in % p.a.)
1 month 2 months 3 months 6 months
US $ 100,000 4.80% 4.95% 5.05% 5.20%
Sterling ÂŁ 100,000 4.70% 4.80% 4.90% 5.05%
AU $ 100,000 3.50% 3.60% 3.70% 3.95%
NZ $ 100,000 4.40% 4.55% 4.70% 4.85%
CD $ 100,000 4.35% 4.40% 4.50% 4.60%
Swiss â‚Ł 100,000 1.10% 1.10% 1.10% 1.25%
EU € 100,000 3.25% 3.30% 3.35% 3.45%
JP ÂĄ 25 million 0.00% 0.00% 0.00% 0.00%

Rates are effective as of 24 November 2023.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

Maybank Fixed Deposit Rate Singapore- iSAVvy Foreign Currency Time Deposit Scheme

Foreign Currency Minimum Deposit  (in respective currency) Maybank Fixed Deposit Rate (in % p.a.)
1 month 2 months 3 months 6 months
AU $ 10,000 3.50% 3.60% 3.70% 3.95%
EU € 10,000 3.25% 3.30% 3.35% 3.45%
Sterling ÂŁ 10,000 4.70% 4.80% 4.90% 5.05%
NZ $ 10,000 4.40% 4.55% 4.70% 4.85%
US $ 10,000 4.80% 4.95% 5.05% 5.20%

Rates are effective as of 24 November 2023.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.

Eligibility Criteria for Maybank Fixed Deposit Rate - Singapore

To access the Maybank Online Banking services, a customer must maintain a Maybank Savings or Current account. 

  • Minimum Age: 16 years old

  • Minimum Deposit for iSAVvy Account: SGD 20,000 

  • Eligible Citizenship: 

    • Singapore Citizens

    • Foreigners

    • Permanent Residents

  • Fees & Charges:

Particulars Charges
Charges on Deposit NA (as FD is opened online)
Cash Withdrawal SGD15
Withdrawal by Transfer to Own Maybank Account FREE
Withdrawal by Transfer to Third Party Maybank Account SGD 10
Withdrawal by Cashier Issues Order to Account Holder SGD 10
Balance Enquiry SGD 5/receipt
Request for Statement of Account SGD 30/account
Change of Maturity Instruction SGD 5/receipt

Premature Withdrawals

The particular conditions of deposit withdrawal are as follows: 

  1. Early Withdrawal Before 3 Months: No Interest

    • If you withdraw before completing a minimum tenure of 3 months, no interest will be paid on your fixed deposit.

  2. Partial Withdrawal After 3 Months: Prorated Interest Calculation

    • Upon withdrawal after a minimum tenure of 3 months, the interest is prorated based on the number of days the fixed deposit has been held. 

    • This calculation considers either the contracted rate or the current Savings Account rate, using the lower of the two at the time of withdrawal.

Documents Required

You need to submit the following documents to open Maybank Fixed Deposit Rate:

  • Completed application form

  • Certified true copies of Memorandum & Articles of Association (M&A) / By-Laws / Constitution

  • Certified true copies of NRIC/Passport of all authorized Signatories/Directors/Partners/Office Bearers

  • Additional supporting documents (if necessary)

    • Company bills

    • Invoices

    • Bank statements

  • Minimum deposit in cash or cheque

How to Invest in Maybank Fixed Deposit Rate - Singapore

Follow the steps mentioned below to start investing in a Maybank Singapore Time Deposit Account:

Step 1: Open the online website of Maybank, i.e. Maybank2u.

Step 2: Log in to your online banking account and click on the “Apply” button on the top right corner of the webpage.

Step 3: Select the “Accounts” option and press the “Apply Now” button under the “Time Deposit” tab.

Step 4: Fill in the required credentials, such as

  • Singapore Dollar (SGD) for Currency

  • Tenure

  • Investment Amount

  • Savings Account to debit funds for your Time Deposit

Step 5: Press on the “View Option” button. Now select the Time Deposit option of your choice and click on “Next.”

Step 6: Choose the Interest Payment Mode, accept the Terms & Conditions, and click on “Next”.

Step 7: Review the inserted details and click on “Confirm”.

FAQ's

  • What is the fixed deposit rate for Maybank?

    The current fixed deposit rates for Maybank Singapore are listed in the table below:
    FD Plans Minimum Deposit Limit Maximum Deposit Limit Tenure 
    (in months)    		 Rate of Interest 
    (in % p.a.)
    Deposit Bundle Promotion Time Deposit Scheme
    • SGD 20,000 in SGD Time Deposit Scheme
    		 SGD 1 million 12 – 24 months 2.95% - 3.50% p.a.
    iSAVvy Time Deposit Scheme SGD 5,000 SGD 1 million 1 - 36 months 0.15% - 2.85% p.a.
    Singapore Dollar Time Deposit Scheme
    • SGD 20,000 (1 - 36 months)
    • SGD 10,000 (1 month)
    		 SGD 9,99,999 1 - 36 months 0.10% - 2.85% p.a.
    Singapore Dollar Privilege Plus Time Deposit Scheme
    • SGD 50,000 (6 months & above)
    • SGD 25,000 (12 months & above)
    		 SGD 9,99,999 6 - 36 months 0.20% - 2.95% p.a.
    iSAVvy Foreign Currency Time Deposit
    • 10,000 units (Foreign currencies)
    		 No limits 1 - 6 months Up to 5.20% p.a.

  • Which bank has the highest fixed deposit interest rate in Singapore?

    Here is a table of the top 5 banks in Singapore offering the highest fixed deposit interest rates in November 2023:
    Bank Interest Rate Minimum Deposit
    StashAway Simple Guaranteed 3.80% p.a. No minimum
    RHB Up to 3.60% p.a. SGD 20,000 for 6 or 12 months
    HL Bank 3.65% p.a. SGD 500,000 for 12 months
    State Bank of India (SBI) 3.55% p.a. SGD 50,000 for 12 months
    HSBC 3.65% p.a. SGD 200,000 for 3 months

    *SGD: Singaporean Dollar

  • What is the interest rate for fixed deposit 2023 Singapore?

    Fixed deposit interest rates in Singapore vary depending on the bank, the deposit tenor, and the minimum deposit amount. However, as of November 2023, the general range for fixed deposit interest rates in Singapore is between 0.30% p.a. and 3.80% p.a.

  • What is the interest rate for the Maybank privilege plus time deposit?

    The interest rate for Maybank Privilege Plus Time Deposit currently ranges from 0.50% p.a. to 3.90% p.a., depending on the deposit tenor and the minimum deposit amount.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
* Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy male of 18 years old paying Rs. 30,000/- monthly (exclusive of all applicable taxes)
** Fixed deposit rate applicable for 5 year's 1 day to 10 years for investment amount less< 2 Crore ( Not for senior citizens).
*** PPF interest rate applicable for 15 years for investment amount upto 1.5 Lac
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
#Discount offered by insurance company
## The Guaranteed Returns are dependent on the policy term and premium term availed along with the other variable factors. 7.1% rate of return is for an 18 years old, healthy male for a policy term of 20 years and premium term of 10 years with Rs.10,000 monthly installment premium. All plans listed here are of insurance companies’ funds.
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