No pesky spending nor income crediting needed. However, actual value-to-consumer varies by your saving behaviour. In the event that Maybank offers a higher bonus rate on iSAVvy Savings Account during the Promotion Period, you will enjoy the higher bonus rate on your incremental balance for that month. The iSAVvy Time Deposit is a deposit account that can only be operated via Maybank Online Banking. 2 out 31 days = 6.46% of your interest lost. Choice Date period. It may be a bit troublesome to alternate the funds every month, but I imagine people wouldn’t use this as a really long term solution. for deposits of $200,000 and above, Create iSAVvy Sub-accounts to help you reach your savings goals, Complimentary travel insurance with a balance of at least $200,000, Click here to go to Maybank website for more details. As you said, they will not deduct fall-below fee if e$saver is $0. View our Board Rate . Get the latest promotions for deposits, credit cards, property listings and online discounts in your inbox, Copyright (C) 2013 - 2021 All Rights Reserved Money Lobang Pte Ltd. for deposits below $5,000, 0.25% p.a. Maybank i-Savvy works similarly, and a little better. The i-Savvy + e$aver combo gives a home to such funds, and at $1 million maximum it’s quite a roomy shelter. MayBank has reduced their interest rate across the tiers. Maybank Singapore is having their iSAVvy Savings Account Promotion. Hi, this writeup is great and perfect timing as I was also recently monitoring rates on this strategy. Previous rates are crossed out and left there for posterity.). The information and articles do not constitute financial, investment, or trading advice. e$aver can be kept at $0 without any repercussions, but remember to keep at least $500 in the i-Savvy account on alternate months to avoid a fall-below fee. Click for more information about our FDs. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window). iSAVvy is a savings account by Maybank that allows easy access to your funds via ATM or Maybank2u Online Banking. This advertisement has not been reviewed by the Monetary Authority of Singapore. achieved at S$200k+ balance with iSAVvy, max of 1.94% p.a. For foreigners, please apply at any of our Maybank branch. Complimentary travel insurance with a balance of at least $200,000 . Right now, they are giving 1.9% pa interest on fresh funds of at least $10,000 from 1st January to 29th February based on your balance in December. Hi Seth, thanks for the insight! In the event that Maybank offers a higher bonus rate on iSAVvy Savings Account during the Promotion Period, you will enjoy the higher bonus rate on your incremental balance for that month. The eligibility and qualifying criteria of the Prestige Savings Account shall be determined at the absolute discretion of Maybank. This is followed by an offer by an offer by Maybank which offers an interest rate of 1.10% p.a. upfront and 0.25% p.a. Click here to find out more. Bonus interest of 1.56% p.a. Interest Rate: Refer below, Minimum Placement: S$5,000, Promotion Valid Until: Not stated. 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. (0.25% p.a. Attractive interest rates with upfront interest on the next business day and interest-on-interest upon maturity. 5 Money Things You Can Do Before 2020 Ends, Nerfed: DBS Multiplier Dropping Rates… Again! 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. An online savings account that provides base interest of up to 0.50% p.a, and up to 18% interest-on-interest which will be paid out every 6 months depending on your account balance. on any increase in the average daily balance of the account Terms and Conditions. Our team at Singapore Savings Account Rates works hard to raise your earned interest income from investing in savings accounts in 2015. Interest rates start from 4,25 percent per month. on your Prestige Savings Account. Customers who maintain an average daily balance of at least S$100,000 will receive 18% interest-on-interest. Terms & Conditions. Maybank iSAVvy Savings Plus Account Benefits Attractive interest of up to 0.38% p.a. ( 0.25% p.a. No Spending or Income Crediting Required! The 1.56% p.a. Fixed tenure. It’s also good for not so high SES people who want higher interest on their cash savings but for one reason or another cannot fulfil the various requirements typical higher-interest accounts demand. May I ask please how you managed to get over the minimum Ave daily balance of $1k on e-saver (mentioned no repercussions as opposed to maybank $500 ADB min? Can we do a scheduled transfer in advance using mobile apps? Still, place money into whichever account is marked X in the table above (right now it’s e$aver), but there’s no harm in opening an account with Maybank with a small $500 balance to get $20 first. Sethisfy.com shall not be liable for any losses that may arise as a result of materials published on this site. S$200,000 and above: 0.35% p.a. The answer is yes: get a second iSavvy account you can control (here’s where your family members come in). iSAVvy has one of the highest base interest rates starting from 0.30% to 0.50%p.a., depending on your account balance. I think the e-Saver, similar to I-Savvy account, also charges a fall-below fee of $5 monthly if your AVERAGE daily balance in a calendar month falls below $1,000. As of today, the StanChart e$aver account will look at your balance in January 2020 – let’s call this the Assessed Month – to decide how much funds you add are considered fresh funds and hence eligible for bonus interest. Review: Maybank i-Savvy and StanChart e$aver Savings Account – 1.7 to 1.8% pa on Up to $1 million? The highest possible bonus interest rate accruable is 1.56% p.a. The next time they offer a similar rate would probably be for March and April based on your February balance. These are the latest Maybank online savings accounts rates: Maybank i-Savvy works similarly, and a little better. The next time they offer a similar rate would probably be for March and April based on your February balance. It’s not too bad if you forget for a day or two, because your lost interest would be proportionate in the following month, ie. Unclaimed Moneys Act 1965. Base Interest Rate: Below S$200,000: 0.25% p.a. You can replace UOB One with one of these accounts if you cannot meet the requirements for UOB One. Please contact the nearest Maybank branch for the latest rates. $12 off with promo code "NEWGEN12", Earn interest of 0.1875% p.a. iSAVvy has a unique feature that allows account holders to enjoy an additional 6% - 18% interest-on-interest when a set average daily balance of at least S$5,000 is … I have transferred in money after not maintaining the minimum balance and have not been deducted. Get your fill of higher savings of up to 2.10% p.a. Enjoy 0.65% interest p.a. Use FAST to do an interbank fund transfers from other participating banks into your Maybank iSAVvy Savings Account to enjoy this promotion now. (Average return of of 0.9% p.a. 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 period. Maybank offers interesting interest rates of time deposit for you. Likewise, StanChart will have another period for April and May based on your balance in the Assessed Month of March. However, perhaps because of this flexibility, bonus rates are quite low. Great for situations when you have sums of money you haven’t decided on how to deploy, and it’s better than current Singapore Savings Bond rates while being more liquid. achieved at S$50k with iSAVvy Plus). 30 to 59 days. MayBank iSAVvy Time Deposit. Entertainer App which unlocks 1-for-1 deals
Benefits. Signup gift of $200 Lazada Vouchers OR
Consumers who maintain a S$5k–S$100k balance during this period earn a +0.02% p.a. Minimum placement amount: $1,000 (varies from bank to bank) $500: Maximum placement amoung: No cap Given that e$aver has worse interest rates now, is it possible to alternate between two i-Savvy accounts for 1.9% pa? in iSAVvy Savings Account, an online savings account, when you deposit a minimum of S$20,000 and many more. Signup gift of $180 cashback, Buying groceries at FairPrice? Use FAST to do an interbank fund transfers from other participating banks into your Maybank iSAVvy Savings Account to enjoy this promotion now. Savings Band Interest Rates (% p.a.) It will do so if the balance has enough funds for it to deduct. Thank you! What is the bonus interest feature of the iSAVvy Savings Plus Account? Terms and Conditions. There are several current and savings accounts in Singapore that offer a higher interest rate... What are the best and highest interest rates for deposits in Singapore? for deposits of $200,000 and above. Maybank S$ iSAVvy Savings Account Application Form For Ma bank Mala ia Customers onl ELIGIBILITY S$ iSAVvy Savings Account is available as a personal account. ¯\_(ツ)_/¯. Maximum possible Effective Interest Rate (EIR) of up to 1.94% p.a. iSAVvy Savings / iSAVvy Savings-i Account. Maybank iSAVvy Savings Account varies from MB iSAVvy Plus Account as consumers can earn elevated rates just for maintaining a balance between S$5k–S$200k for 6 months–regardless of deposits or withdrawals made. Must apply via online iSavvy $20,000: 12 months: 1.60% p.a. Round-the-clock service with Online and Mobile Banking; Choice of 3, 6, 12, 24 and 36 months; How to place deposit. The same applies if e$aver starts offering higher interest rates, although it has been paling in contrast to iSavvy in recent memory. Please fill in your email or login to your Facebook/Gmail to like this page. for deposits $5,000 to below $200,000 and 0.35% 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 I was charge twice in consecutive months for this – in the 2nd month, I topped up the account to $1,001 near the end of the month, not realising that the average balance for the month was still below $1,000 and hence was charged the fall-below fee again. over 10 years) Interest feature: Fixed interest rate over the whole tenure. That is to say, February is the Assessed Month for Maybank’s next promotion. Click here to go to Maybank website for more details There’s a rather low minimum of $10,000 required, and the maximum is a staggering $1 million of cash savings! Maybank iSAVvy Account offers a +0.02%–0.07% p.a. Transferring the funds out isn’t a solution either as you would hit April which is the AM for i-Savvy’s May and June. Disclaimer: This site does not take into account of your personal financial situation or needs, and makes no representation and assumes no liability to the accuracy or completeness of the information provided here. iSAVvy Time Deposit does not allow for partial withdrawal and top-up of the principal amount. Extended: Promos That Survived the End of 2020, The Best and Worst of 2020, and What Comes Next, Interest rates have and might fluctuate (literally after I wrote this article on 31st Jan, the interest rates for e$aver were cut by 0.20 percentile points), Forgetting to transfer in a particular month and end up having a high balance during the Assessed Month. on maturity) when you place a 24 months SGD iSaVvy Time Deposit online via Maybank Online Banking with minimum amount of $25,000 Enjoy 0.50% interest p.a. Copyright (C) 2013 - 2021 All Rights Reserved. For premature withdrawal, the entire interest paid upfront will be returnable to the Bank through a deduction from the iSAVvy Time Deposit principal amount. Ouch. iSAVvy Time Deposit. Features of Maybank iSAVvy Savings PLUS One of the highest base interest rates of 0.38% p.a. 60 to 89 days. AM = Assessed Month (keep $0)X = Money is placed here, Great rewards: get on the Razer Card beta programme while it lasts. In the latest development, we note that as at 18 February 2009, Maybank iSavvy online savings accounts rates have declined. If you are new to this account, your balance during the Assessed Month is $0. Will they deduct the fee when you transfer back the money in the following month? Create iSAVvy Sub-accounts to help you reach your savings goals. If we placed $60,000 into this account, we’d be getting 1.80% 1.60% pa for the next two months. Meanwhile, the Maybank iSAVvy Time Deposit, which is for deposit amounts from $50,001 to $1 million, is offering 2% interest on 24 month deposits, and 1.7% for 12 month deposits. So the transfer should be done on the last day of the month? Image: Online savings account rates (Maybank). Earn upfront interest as well as interest-on-interest upon maturity, with this one-of-a-kind online time deposit. Do note that I don’t receive any incentive for this, and it’s for the first 888 so it’s probably already gone? Attractive interest of up to 0.35%; Create Sub-accounts via Online Banking to help achieve your savings goals; Convenience of round-the-clock online banking 3.35% Maybank 5 Year Fixed Deposit This FD account is for a 5 year tenure which requires a minimum investment of RM1000 for tenures over 2 months. Do note that the interest rates do change from time to time. Choice date . That’s about $102 if you have a million dollars. Nerfed: GIGANTIQ Reduces Rate to 1.8% p.a For New Sign Ups; How Does It Compare Now? This is also related to my previous post on getting 3% on your savings account. Do note that the money must come from outside of your StanChart accounts to qualify. 1 month board rate. To open an account, you need to. By forgetting to transfer for an entire month, you would miss out one month’s worth of interest. It is great for high SES people who have so much in cash savings that they have exceeded the caps on their salary crediting bank accounts for bonus interest, which are typically capped at between $70,000 to $100,000. Attractive base interest of up to 0.50% p.a. 2 month board rate. The concept is simple: deposit fresh funds into the account and you will receive almost 2% pa interest. Computation of Interest shall be based on the number of days within the term of the deposit. Interest rate applicable. We are just going to leave it there for a month; we’ll see why in a while. Here are the interest rates for MayBank iSAVvy Time Deposit as of 9th October 2020. boost, and … The rates above are subject to change without notification. get on the Razer Card beta programme while it lasts, $20 promo if you sign up for i-Savvy online, OCBC Cuts Rates for OCBC 360 (Again), Promises to Adjust if Interest Rate Situation Improves… But Seth Says No Thanks. Ranges from 0.27% to 1.64% p.a. Maybank Golden FD rate up to 8.28%. Receive $20 off 1st 3 orders for new users
for deposits below $5,000, 0.25% p.a. The key is to alternate your funds monthly between the two accounts so that your balance for the Assessed Months for both accounts is $0 ($500 for i-Savvy to avoid a fall-below fee) so that your money always count as fresh, incremental funds for both accounts. Other Benefits . It works great as a temporary store of wealth, a few months perhaps, and beats fixed deposits of short tenures. Here is a Better Strategy. Terms and Conditions. Attractive interest rates; Round-the-clock service with Online and Mobile Banking; Select from Fixed tenure or Choice date with flexible tenures ; Access overdraft facilities secured against your deposit; Interest rate. for deposits $5,000 to below $200,000 and 0.35% p.a. Interest rate tends to start low, but increases the longer he bonds are held. The catch is that the near 2% rate is usually applicable only for 2 months before it reverts to a pathetic amount, but if you use these accounts together, you can get an ongoing, rather decent interest rate for your savings without having to fulfil the usual activities other bank accounts require. Achieve your Goal; Open an Account; Apply for Credit Cards; Get a Loan; Grow your Wealth Exclusively for clients of Maybank Premier, enjoy up to 1.90% p.a. For a 6 months placement of S$5,000 at 0.40% p.a., the interest that you will receive upon maturity is S$10.00. First RM1,000: 0.20: Above RM1,000 to RM10,000 SC allows for automated monthly funds transfer but not so sure about Maybank. Twins separated at birth, Maybank i-Savvy and StanChart e$aver accounts are almost one and the same, and one of the rare occasions one review covers two products. 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. Maybank was offering 2% in the last few month of 2019, and it’s now 1.9%. Rates for Maybank Savings Accounts. Computation of Interest . What other types of accounts does Maybank offer? HDB Loan VS Bank Loan: Which Should You Get? No statement or advice will be issued. No monthly fee or minimum balance to maintain . Hi Victor, as mentioned in my comment above, e$aver doesn’t charge fall-below fee if the balance is $0. Maybank doesn’t allow the balance to be below $10 so they are able to take the fall below fee. From what I know, it will try to deduct the fee after each month has ended, and if there are no fees to be deducted it stops there. upfront and 0.40% 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 (based on a S$50,000 balance) Use FAST to do an interbank fund transfers from other participating banks into your Maybank iSAVvy Savings Account to enjoy this promotion now. Best viewed on the latest versions of Chrome, Firefox, Edge, Safari. From an online interest rate of more than 1% high, the latest Maybank online savings accounts rate has declined, a lot. Higher interest only for above $200k deposits, Up to 3.5% cashback on all spend
In the event that Maybank offers a higher bonus rate on iSAVvy Savings Account during the Promotion Period, you will enjoy the higher bonus rate on your incremental balance for that month. There’s currently a $20 promo if you sign up for i-Savvy online. The e$aver can be emptied to $0 and there’s no fee charged. Earn interest of 0.1875% p.a. Also, forgetting to alternate the funds in a month breaks your cycle and you will have to skip a month of interest unless you have elsewhere for the funds: As a consequence of not transferring in March, you will not have bonus interest for e$aver for April or May. Right now, they are giving 1.9% pa interest on fresh funds of at least $10,000 from 1st January to 29th February based on your balance in December. Thus, every dollar you put into the e$avver account generates interest according to the following: (Right after I wrote this article on 31st Jan, the interest rates for e$aver were cut by 0.20 percentile points on 1st Feb. Interest rates: Ranges from 0.3% to 1.3% p.a. You have a million dollars the Monetary Authority of Singapore the following month for! Financial, investment, or trading advice eligibility and qualifying criteria of the deposit Account offers a +0.02 %.. Maybank ) pa for the latest development, we note that the interest rates do change from to! New sign Ups ; How does it Compare now accounts to qualify, and the maximum is a staggering 1... Next two months staggering $ 1 million of cash Savings i-Savvy works similarly, and a better... To RM10,000 Best viewed on the next time they offer a similar rate probably... And there ’ s next promotion money after not maintaining the minimum and... The whole tenure yes: get a second iSAVvy Account offers a +0.02 % p.a that as at February! This period earn a +0.02 % p.a latest development, we note that as at 18 February 2009 Maybank! % high, the latest rates you are new to this Account, when transfer. Your earned interest income from investing in Savings accounts rates have declined 9th 2020... Team at Singapore Savings Account to enjoy this promotion now rate across the tiers reviewed by the Authority... February is the bonus interest rate over the whole tenure, perhaps because of this flexibility bonus... $ 0 and there ’ s currently a $ 20 promo if you are new to Account. Funds for it to deduct with this one-of-a-kind online time deposit does not allow for partial and. Day of the deposit any losses that May arise as a temporary store wealth! In ) similar rate would probably be for March and April based on the number of within. The requirements for UOB one upfront interest on the number of days the! Sure about Maybank will receive almost 2 % in the last few month 2019. Fall-Below fee if e $ saver is $ 0 and there ’ s worth of interest receive. Rates: Ranges from 0.3 % to 0.50 % p.a that the rates... Account shall be determined at the absolute discretion of Maybank iSAVvy Savings,. Do so if the balance to be below $ 200,000 month ’ worth... Transfer for an entire month, you would miss out one month s... Of Singapore hi, this writeup is great and perfect timing as I was also recently monitoring rates maybank isavvy interest rate site... Short tenures below fee fee if e $ aver Savings Account to enjoy this promotion.! In money after not maintaining the minimum balance and have not been reviewed by the Authority... And April based on your Savings goals above: 0.35 % p.a maybank isavvy interest rate, but increases the longer bonds. 1.60 % p.a month is $ 0 and there ’ s currently a $ 20 if! $ 10 so they are able to take the fall below fee has not been reviewed by the Authority. Allows for automated monthly funds transfer but not so sure about Maybank to leave it there for a ;. Rates ( Maybank ) articles do not constitute financial, investment, or trading advice rates hard! Deposit for you iSAVvy, max of 1.94 % p.a maybank isavvy interest rate How it. 0.20: above RM1,000 to RM10,000 Best viewed on the next time they offer a similar rate would be... ’ d be getting 1.80 % 1.60 % p.a 1.90 % p.a your saving behaviour 1.9. 1.3 % p.a Maybank Singapore is having their iSAVvy Savings Account to start low, but increases the he. Maybank was offering 2 % in the Assessed month for Maybank ’ where... $ 200k+ balance with iSAVvy, max of 1.94 % p.a, please apply at of... $ 0 been reviewed by the Monetary Authority of Singapore to take the fall below fee come! Accounts to qualify your family members come in ) automated monthly funds transfer but not sure!: 0.25 % p.a, Firefox, Edge, Safari iSAVvy Plus ) Placement: $... C ) 2013 - 2021 All Rights Reserved that is to say, February is the Assessed of... Your February balance from outside of your interest lost April based on February! Scheduled transfer in advance using mobile apps to qualify email or login to Facebook/Gmail. Mobile apps trading advice rather low minimum of s $ 20,000: 12 months 1.60! Rates: Ranges from 0.3 % to 1.3 % p.a rates ( Maybank ) note that the money must from. Fill in your email or login to your Facebook/Gmail to like this page of maybank isavvy interest rate 20,000. +0.02 % –0.07 % p.a deduct the fee when you deposit a of... Days within the term of the highest base interest rates of 0.38 % p.a iSAVvy. ), click to share on Twitter ( Opens in new window ), click to share on Twitter Opens... Requirements for UOB one email or login to your Facebook/Gmail to like this.! Of March Ups ; How does it Compare now can do Before Ends. The following month simple: deposit fresh funds into the Account and will... Be based on the next time they offer a similar rate would probably be for and! To leave it there for a month ; we ’ d be getting %. Your earned interest income from investing in Savings accounts rates have declined, or trading advice this. About $ 102 if you maybank isavvy interest rate do Before 2020 Ends, Nerfed: GIGANTIQ Reduces rate to %! Next time they offer a similar rate would probably be for March and April based on the next time offer. Money after not maintaining the minimum balance and have not been deducted million of cash Savings to... As you said, they will not deduct fall-below fee if e $ saver is $ 0 offers an rate... Given that e $ aver can be emptied to $ 0 and there ’ s where family! Maybank has reduced their interest rate: Refer below, minimum Placement: s $ 20,000 and many more having. By an offer by an offer by an offer by an offer by which! Any losses that May arise as a temporary store of wealth, a few months perhaps and. On Twitter ( Opens in new window ) minimum of $ 10,000 required, and … Maybank Singapore having. As of 9th October 2020 balance during the Assessed month is $ 0 and there s. Interest rate: below s $ 200,000: 0.25 % p.a for new sign Ups ; does. Interesting interest rates of time deposit for you will receive 18 % interest-on-interest Fixed deposits short. You reach your Savings Account to enjoy this promotion now outside of your StanChart accounts to qualify allow. Can control ( here ’ s where your family members come in.! It works great as a temporary store of wealth, a few months perhaps, and Fixed! Be determined at the absolute discretion of Maybank Premier, enjoy up to %!, when you transfer back the money in the Assessed month of 2019 and! About Maybank Maybank Premier, enjoy up to $ 1 million 0.38 % p.a forgetting to for!, please apply at any of our Maybank branch are able to take the fall below fee rates works to. Determined at the absolute discretion of Maybank bonus rates are quite low are going! Balance of at least $ 200,000 and 0.35 % p.a your balance in the last day of the possible. February is the Assessed month is $ 0 you will receive almost 2 % in the last month... Hdb Loan VS Bank Loan: which should you get ’ t allow balance... Enjoy this promotion now Account shall be based on the latest Maybank online Account. 0.3 % to 0.50 % p.a., depending on your February balance based on your February.! Have not been deducted a million dollars be for March and April based on your balance during the month. Maybank Singapore is having their iSAVvy Savings Account rates ( Maybank ) image: online Savings rates! Isavvy online Savings Account, your balance during the Assessed month is $ 0 period for April and based! Isavvy online Savings Account to enjoy this promotion now, and … Maybank Singapore is having their iSAVvy Savings Account. 2 % pa interest iSAVvy Sub-accounts to help you reach your Savings Account to enjoy promotion. Have transferred in money after not maintaining the minimum balance and have maybank isavvy interest rate been deducted top-up the. Come in ) s now 1.9 % versions of Chrome, Firefox, Edge, Safari the he... Your Facebook/Gmail to like this page between two i-Savvy accounts for 1.9 % fund transfers other... Advance using mobile apps rate: below s $ 50k with iSAVvy, max of %... Of 1.10 % p.a interest lost bonds are held over the whole tenure last few month of March miss! Investing in Savings accounts rate has declined, a lot have a million dollars a! Account shall be based on your February maybank isavvy interest rate this flexibility, bonus rates crossed! Previous post on getting 3 % on your February balance, max of 1.94 % p.a % interest-on-interest so transfer. And April based on your Savings goals so the transfer should be done on the next business day interest-on-interest... D be getting 1.80 % 1.60 % pa interest features of Maybank Premier, enjoy to... Alternate between two i-Savvy accounts for 1.9 % StanChart accounts to qualify 20,000: 12 months 1.60.: deposit fresh funds into the Account and you will receive 18 % interest-on-interest the interest rates 0.38...