Alternatively, SCB JumpStart (1.00% p.a.) Interest… iSAVvy Sub-account. Find Out More. After closely analysing the Singaporean market, we've identified and explained the best savings accounts in straightforward terms (outlining minimum balance requirements, rate contingencies, fall-below fees & more), so that you can find the option best suited to your needs. Utility/Telco bills or Bank statement from another bank in Singapore, where the name must be the same as your Passport and Employment Pass), You will receive an email with your new account number in a password protected PDF file upon submission of the application*, A password will be sent via SMS to the mobile number indicated on the application form to open the PDF file, Another SMS which contains your PIN to sign-up or perform a First Time Login to Online Banking. Beware of phishing emails / calls / SMS targeting Maybank customers. Maybank iSAVvy Savings Plus . Utility/Telco bills or Bank statement from another bank in Singapore, where the name and address must be the same as your NRIC), Valid pass (e.g. for deposits of $200,000 and above. Base Interest Rate of 0.30%p.a. Withholding Tax. The highest possible bonus interest rate accruable is 1.56% p.a. Get rewarded with up to S$100 Takashimaya vouchers when you credit 3 consecutive months of your salary into your iSAVvy Savings Account/iSAVvy Savings Account-i and make a bill payment via GIRO. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. This is from the previous 1.08%. Eligibility for interest-on-interest is based on maintaining an average daily balance of at least S$5,000 to below S$200,000 over a 6-month period, starting from the 2nd month of account opening, Proof of Mailing Address (i.e. The Best Bank Accounts guide has the highest paying options. Terms and Conditions apply. Easy access to internet banking and mobile banking Banks usually offer discounts on the locker rental facilities for customers who maintain the minimum quarterly balance. The remaining interest will be paid upon maturity. Attractive base interest of up to 0.50% p.a. Currently, they are offering only at 0.88% for daily balance of S$5,000 to below S$50,000. The balance in a savings account earns interest. Maybank iSAVvy Savings Plus Account Benefits Attractive interest of up to 0.38% p.a. Surprisingly, some banks' current accounts pay a higher rate of interest than their savings accounts, though you tend to only get interest on the first £3,000 or so. Terms and Conditions. For foreigners, please visit any Maybank branch to apply. Maybank Singapore Limited (UEN 201804195C), node.content_display_type.children.ct_title[0]. Best viewed on the latest versions of Chrome, Firefox, Edge, Safari. Maybank iSAVvy and iSAVvy Plus certainly have different max effective interest rates, as listed by the previous commenter (max EIR of 0.50% p.a. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Applications submitted outside this time period will receive an email notification with the new account number the next business day. iSAVvy is a savings account by Maybank that allows easy access to your funds via ATM or Maybank2u Online Banking. iSAVvy Savings Account Application form To be used for selected Maybank Malaysia branches only (May 2015) Page 6 of 15 MAYBANK PLATINUM DEBIT CARD AND ELECTRONIC SERVICES Together with my/our S$ iSAVvy Savings Account, I/we will be issued with Maybank Platinum Debit Card1 Maybank2u.com.sg (Online Banking) 2 MayBank iSAVvy Savings Account interest rates was revised on 4 April 2008, which is more than 2 weeks ago. The eligible accounts in this Promotion are iSAVvy Savings Account and iSAVvy Savings Account-i. iSAVvy Savings Account Attractive interest of up to 0.35% p.a. Interest-on-interest 1 of up to 18% : Create Sub-accounts via Online Banking to help you reach your savings goals : Online savings account gives you the ease and convenience of banking round-the-clock with iSAVvy Savings Plus Account now! Unlike savings accounts, you'll need to pass a credit check to open one. Its HISA is referred to as the “Tangerine Savings Account” and currently offers a promotional rate of 2.10% for your first 5 months and 0.10% thereafter.. All rights reserved. Creating sub-accounts allows you to allocate funds for your savings goals without the need to open multiple savings accounts and still enjoy the attractive interest rates of iSAVvy Savings Account and iSAVvy Savings Plus Account. Bonus interest of 1.56% p.a. Only available to Singapore Citizens and Permanent Residents. (based on a S$50,000 balance) Maximum possible Effective Interest Rate (EIR) of up to 1.94% p.a. Higher interest rates for higher balances: Pensioner savings accounts often have a tiered interest rate structure, paying different interest rates depending on the balance of the account (e.g. *Only available from 9am to 9pm. 1.08% interest rate was from 4 February 2008 onwards and exactly 2 months from that point, it is revised again. Enjoy 0.50% interest p.a. Customers who maintain an average daily balance of at least S$100,000 will receive 18% interest-on-interest. Deposit Insurance Scheme Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Existing iSAVvy Savings Account holders may create Sub-accounts via Online Banking to help allocate your funds for different purposes. MayBank's iSAVvy Savings Account Interest Rates is to drop for the 3rd time since its launch. Please have a scanned colour copy or image of NRIC, Proof of mailing address and image of your signature ready, S$30 early account closure fee, if the account is closed within 6 months of opening. Our team at Singapore Savings Account Rates works hard to raise your earned interest income from investing in savings accounts in 2015. Interest income gained on savings accounts by non-residents of Italy is not taxed. one might pay 2% p.a. Deposit Insurance SchemeSingapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Bonus interest/dividend is awarded on the incremental average daily balance in theAccount during the Promotion Period against the average daily balance in August 2019. on amounts under $50,000). Maybank iSAVvy Account offers a +0.02%–0.07% p.a. Find out more, Documents Requirement for Singapore Citizens or Permanent Residents. Click here to read more on iSAVvy Savings Account. I missed this announcement completely! on amounts over $50,000 and 0.5% p.a. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. If you already have an account, you may create Sub-accounts via Online Banking to help you allocate your funds for different purposes. iSAVvy Savings Account; iSAVvy Savings Account-iiSAVvy Savings Plus Account Click here to read more on iSAVvy Savings Plus Account . Subscribe to RSS    Find us on Facebook     Find us on Instagram. Please have a scanned colour copy or image of NRIC, Proof of mailing address and image of your signature ready, You will receive an email with your new account number in a password protected PDF file by the next business day, Make a FAST transfer of at least S$500 from your account with another bank (in the same name) to activate the new account, You will receive a SMS notification once your new account is activated successfully. achieved at S$50k with iSAVvy Plus). on any increase in the average daily balance of the account (0.25% p.a. From 1 December 2020, we will be changing the Savings Account interest/hibah rates for. With iSAVvy Savings Plus Account, you will not only earn attractive interest but also be rewarded with additional bonus interest* on every additional dollar you save. Singapore Dollar iSAVvy Savings Account Application Form for Maybank Malaysia customers, Security, Data Protection & Client Charter, S$2 monthly service fee; waived with a minimum average daily balance of S$500, Terms and conditions apply. for consumers with a S$50k+ balance. This Promotion is available from 1 January to 29 February 2020. Create iSAVvy Sub-accounts to help you reach your savings goals. To begin with, Maybank iSAVvy Plus Account rewards account holders with a high base rate according to their balance size, reaching up to 0.38% p.a. Savings accounts offer a great, low-risk way to earn more with your money. What is the bonus interest feature of the iSAVvy Savings Plus Account? Utility/Telco/Bank statement with another bank in Singapore) where name and address must be the same as your NRIC, Proof of Mailing Address (i.e. You will receive an email with your new account number in a password protected PDF file by the next business day, Make a FAST transfer of at least S$500 from your account with another bank (in the same name) to activate the new account, You will receive an SMS notification once your new account is activated successfully. Rather than give account holders bonus interest based on each of the requirements that they meet, bonus interest is given based on the total eligible transactions completed each month. Home > Personal > Deposits & Banking > Savings > iSAVvy Savings Account, With up to 1.9% interest and a S$20 cash credit. Get rewarded with up to S$100 Takashimaya vouchers when you credit 3 consecutive months of your salary into your iSAVvy Savings Account/iSAVvy Savings Account-i and make a bill payment via GIRO. will be credited into customer’s savings or current account, opened and/or maintained with Maybank, on the next business day following the successful placement of the iSAVvy Time Deposit. The DBS Multiplier account could be considered as one of the best savings accounts but it works in a different way compared to the other savings accounts that have been mentioned in this article. Interest.com is an independent, advertising-supported comparison service. For placements via Online Banking, an upfront interest of 0.25% p.a. Maybank iSAVvy Savings Account Review. All rights reserved. upfront and 0.25% p.a. For application submitted outside this period of time, email notification with the new account number will be sent on the next business day. Each customer is only allowed to hold one iSAVvy Savings Account. Based on these criteria that we set out, here’s how much interest you’ll be getting: Maybank Save Up will give you the highest interest of 1.03% p.a. 0.35% p.a. Highest Interest Rates for Maybank iSAVvy Savings Plus Account One of the highest base interest rates of 0.38% p.a. The products and offers that appear on this site are from companies from which Interest.com receives compensation. for deposits $5,000 to below $200,000 and 0.35% p.a. in your savings account. Each customer is eligible to hold one iSAVvy Savings Account. Singapore Savings Account Rates blogspot dot com presents new update on savings and other banking accounts in Singapore today. for deposits below $5,000, 0.25% p.a. Savings Account Interest rates on savings account can range from 3.5% to 7% p.a. Customers who maintain an average daily balance of at least S$5,000 in their iSAVvy Savings Account over a 6-month period will receive 6% interest-on-interest. Employment Pass (EP) or S-Pass or Student Pass), Proof of Mailing Address (i.e. Singapore Dollar iSAVvy Savings Account Application Form for Maybank Malaysia customers, S$2 monthly service fee; waived with a minimum average daily balance of S$500, Create Sub-accounts via Online Banking to help achieve your savings goals, Convenience of round-the-clock online banking, Proof of Mailing Address (i.e. boost (applied to their entire balance) as long as you maintain a balance of S$5k–S$200k across 6 months. iSAVvy has a unique feature that allows account holders to enjoy an additional 6% - 18% interest-on-interest when a set average … 2. Savings accounts that provide high interest rates in Singapore usually come with certain strict terms and conditions. Banks have promotions whereby they offer bonus interest rates on savings accounts if you meet certain conditions. Essentially, maintaining an account of S$5k without making withdrawals guarantees you a boost–though your ultimate interest rate will still be … Maybank Singapore Limited (UEN: 201804195C). This compensation may impact how, where and in what order products or offers appear on this site. Considering the market standard is just 0.05% p.a., this base–which comes without any requirements or criteria–is remarkably competitive. Do not disclose any sensitive information over emails / calls / SMS.Call us immediately. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. bonus interest on the incremental average daily account balance will be paid every 6 months only if the average daily balance of the account increases each month during the 6 -month 6-digit SMS OTP for Online Banking, Mobile Banking and Phone Banking, Avoid possible suspension of your unsecured credit facilities, Receive an American Tourister Linex 66/24 Luggage TSA worth S$260 with Maybank Credit Cards and CreditAble, Refer your friends to apply for Maybank Credit Cards and CreditAble to be rewarded with S$50 Cash Credits, Find out how we've made M2U secure - and how you can keep your online banking experience worry free. Utility/Telco/Bank statement with another bank in Singapore) where name must be the same as your Passport and Employment Pass, Please have your SingPass ID, password and image of your signature ready, You will receive an email with your new account number in a password protected PDF file upon submission of the application*, A password will be sent via SMS to the mobile number indicated on the application form to open the PDF file, Another SMS which contains your PIN to sign-up or perform a First Time Login to Online Banking. Depending on the savings account and the promotion, you can earn up to 4.25% p.a. Deposit Insurance Scheme To update your contact details for SMS Transaction Alerts and One-time Authorisation Codes for online purchases, please click here for the relevant forms. will give you the next highest interest rate, if you are 26 years old and below. The base interest rate for savings accounts are pretty low, starting from 0.05% p.a. The eligible accounts in this Promotion are iSAVvy Savings Account and iSAVvy Savings Account-i.Bonus interest/dividend is awarded on the incremental average daily balance in the Account during the Promotion Period against the average daily balance in December 2019. Welcome to Singapore Savings Account Rates blogspot dot com where our team will share Maybank 1.50% iSavvy Savings Account Promo 2015 in Singapore savings account rates in today's post. Copyright © 2020 Maybank. iSAVvy Savings Plus Account Promotion Enjoy bonus interest of 1.56% p.a. on maturity) when you place a 12 months SGD iSaVvy Time Deposit online via Maybank Online Banking with minimum amount of $25,000. If you are not our existing Online Banking customer, you will also receive: S$30 early account closure fee, if the account is closed within 6 months of opening. However, some accounts can be quite complex. Sitemap | About Us | Rates & Bank Charges FAQs & Forms | Locate Us | Feedback Terms & Conditions of Access Security, Data Protection & Client Charter Copyright © document.write(new Date().getFullYear()); Maybank. Interest gained on savings accounts by … Bonus interest is based on the average daily balance of the account increasing each month during a 6-month period, starting from the 2nd month of account opening; Read our Terms and Conditions (PDF) FAQ. If you are not our existing Online Banking Customer, you will receive: *Available from 9am to 9pm. An SMS notification  will be sent once your new account is activated successfully. iSAVvy has one of the highest base interest rates starting from 0.30% to 0.50%p.a., depending on your account balance. and ; ... Interest rates of savings accounts are usually lower than most of the other financial products available. Deposit placed into iSAVvy SGD Time Deposit must be debited from customer’s existing Maybank savings or current account via Maybank Online Banking Earn interest of 0.1875% p.a. Benefits. Tangerine Savings Account (0.10% to 2.10% promo) Tangerine is a subsidiary of Scotiabank and was formerly known as ING Direct. achieved at S$200k+ balance with iSAVvy, max of 1.94% p.a. Savings accounts made with credit institutions in Italy are covered by deposit guarantee scheme up to 100,000 EUR per depositor. From 4th February 2008 onwards, iSAVvy Savings Account with daily balance of S$5K to below S$50K will be revised to 1.08% from previous 1.68%. A SMS will be sent to inform you that the account is activated successfully and you can start using your account! Available to Singapore and Permanent Residents only, Click under MyInfo Please have your SingPass ID, password and image of your signature ready, Apply via Maybank2u SG app and stand to win 1 million TREATS points. The 1.56% p.a. 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Of phishing emails / calls / SMS.Call us immediately the highest paying options emails / calls / SMS.Call immediately... Account can range from 3.5 % to 7 % p.a. if you are 26 years old below. On 4 April 2008, which is more than 2 weeks ago available... Update on Savings accounts are usually lower than most of the Account is activated successfully Proof Mailing. Investments, structured deposits and other investment products are not insured a balance S! Help allocate your funds for different purposes February 2020 Savings and other financial retail investments in Singapore 1.94 %.. Across 6 months accounts, you can earn up to 1.94 % p.a. has the highest possible bonus rate! From 0.30 % to 2.10 % promo ) tangerine is a Savings Account rates hard... Months from that point, it is revised again interest rate ( EIR ) of up to 0.35 p.a... Our existing Online Banking interest rates of Savings accounts in this Promotion is available from 9am 9pm... Alternatively, SCB JumpStart ( 1.00 % p.a. an email notification with the Account! That the Account 0.35 % p.a. Account rates works hard to raise your earned interest from!