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. Achieve your Goal; Open an Account; Apply for Credit Cards; Get a Loan; Grow your Wealth 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. AM = Assessed Month (keep $0)X = Money is placed here, Great rewards: get on the Razer Card beta programme while it lasts. in iSAVvy Savings Account, an online savings account, when you deposit a minimum of S$20,000 and many more. Here is a Better Strategy. Disclaimer: This site does not take into account of your personal financial situation or needs, and makes no representation and assumes no liability to the accuracy or completeness of the information provided here. Attractive interest rates; Round-the-clock service with Online and Mobile Banking; Select from Fixed tenure or Choice date with flexible tenures ; Access overdraft facilities secured against your deposit; Interest rate. Thus, every dollar you put into the e$avver account generates interest according to the following: (Right after I wrote this article on 31st Jan, the interest rates for e$aver were cut by 0.20 percentile points on 1st Feb. Attractive base interest of up to 0.50% p.a. Thank you! Bonus interest of 1.56% p.a. Twins separated at birth, Maybank i-Savvy and StanChart e$aver accounts are almost one and the same, and one of the rare occasions one review covers two products. Computation of Interest . This is also related to my previous post on getting 3% on your savings account. Maybank iSAVvy Savings Plus Account Benefits Attractive interest of up to 0.38% p.a. From an online interest rate of more than 1% high, the latest Maybank online savings accounts rate has declined, a lot. 1 month board rate. Features of Maybank iSAVvy Savings PLUS One of the highest base interest rates of 0.38% p.a. First RM1,000: 0.20: Above RM1,000 to RM10,000 Round-the-clock service with Online and Mobile Banking; Choice of 3, 6, 12, 24 and 36 months; How to place deposit. Image: Online savings account rates (Maybank). Click here to go to Maybank website for more details iSAVvy Time Deposit. There’s currently a $20 promo if you sign up for i-Savvy online. 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 ($500 for i-Savvy to avoid a fall-below fee) so that your money always count as fresh, incremental funds for both accounts. The iSAVvy Time Deposit is a deposit account that can only be operated via Maybank Online Banking. As of today, the StanChart e$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. 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. 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. over 10 years) Interest feature: Fixed interest rate over the whole tenure. Must apply via online iSavvy $20,000: 12 months: 1.60% p.a. These are the latest Maybank online savings accounts rates: 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.   Signup gift of $200 Lazada Vouchers OR on maturity) when you place a 12 months SGD iSaVvy Time Deposit online via Maybank Online Banking with minimum amount of $25,000 What is the bonus interest feature of the iSAVvy Savings Plus Account? 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$5,000 is … Please contact the nearest Maybank branch for the latest rates. Given that e$aver has worse interest rates now, is it possible to alternate between two i-Savvy accounts for 1.9% pa? As you said, they will not deduct fall-below fee if e$saver is $0. Minimum placement amount: $1,000 (varies from bank to bank) $500: Maximum placement amoung: No cap 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. 30 to 59 days. If we placed $60,000 into this account, we’d be getting 1.80% 1.60% pa for the next two months. The same applies if e$aver starts offering higher interest rates, although it has been paling in contrast to iSavvy in recent memory. The information and articles do not constitute financial, investment, or trading advice. boost, and … Earn upfront interest as well as interest-on-interest upon maturity, with this one-of-a-kind online time deposit. The e$aver can be emptied to $0 and there’s no fee charged. Terms and Conditions. 5 Money Things You Can Do Before 2020 Ends, Nerfed: DBS Multiplier Dropping Rates… Again! Nerfed: GIGANTIQ Reduces Rate to 1.8% p.a For New Sign Ups; How Does It Compare Now? Use FAST to do an interbank fund transfers from other participating banks into your Maybank iSAVvy Savings Account to enjoy this promotion now. S$200,000 and above: 0.35% p.a. SC allows for automated monthly funds transfer but not so sure about Maybank. The concept is simple: deposit fresh funds into the account and you will receive almost 2% pa interest.   Entertainer App which unlocks 1-for-1 deals upfront and 0.25% p.a. Hi Victor, as mentioned in my comment above, e$aver doesn’t charge fall-below fee if the balance is $0. Click for more information about our FDs. It will do so if the balance has enough funds for it to deduct. Can we do a scheduled transfer in advance using mobile apps?   $12 off with promo code "NEWGEN12", Earn interest of 0.1875% p.a. iSAVvy has one of the highest base interest rates starting from 0.30% to 0.50%p.a., depending on your account balance. Customers who maintain an average daily balance of at least S$100,000 will receive 18% interest-on-interest. Interest rate applicable. The 1.56% p.a. 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. 60 to 89 days. Computation of Interest shall be based on the number of days within the term of the deposit. MayBank iSAVvy Time Deposit. 2 month board rate. Maybank offers interesting interest rates of time deposit for you. Use FAST to do an interbank fund transfers from other participating banks into your Maybank iSAVvy Savings Account to enjoy this promotion now.   Signup gift of $180 cashback, Buying groceries at FairPrice? 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. Ouch. 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. 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. 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 for deposits of $200,000 and above. iSAVvy Savings / iSAVvy Savings-i Account. We are just going to leave it there for a month; we’ll see why in a while. Exclusively for clients of Maybank Premier, enjoy up to 1.90% p.a. Here are the interest rates for MayBank iSAVvy Time Deposit as of 9th October 2020. For premature withdrawal, the entire interest paid upfront will be returnable to the Bank through a deduction from the iSAVvy Time Deposit principal amount. 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. (based on a S$50,000 balance) 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. on any increase in the average daily balance of the account There’s a rather low minimum of $10,000 required, and the maximum is a staggering $1 million of cash savings! Likewise, StanChart will have another period for April and May based on your balance in the Assessed Month of March. 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. (Average return of of 0.9% p.a. View our Board Rate . Maybank Golden FD rate up to 8.28%. Choice Date period. Best viewed on the latest versions of Chrome, Firefox, Edge, Safari. Please fill in your email or login to your Facebook/Gmail to like this page. achieved at S$50k with iSAVvy Plus). The next time they offer a similar rate would probably be for March and April based on your February balance. Our team at Singapore Savings Account Rates works hard to raise your earned interest income from investing in savings accounts in 2015. No pesky spending nor income crediting needed. Hi, this writeup is great and perfect timing as I was also recently monitoring rates on this strategy. Terms and Conditions. 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. Do note that the money must come from outside of your StanChart accounts to qualify. on your Prestige Savings Account. Do note that I don’t receive any incentive for this, and it’s for the first 888 so it’s probably already gone? 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. It works great as a temporary store of wealth, a few months perhaps, and beats fixed deposits of short tenures. for deposits $5,000 to below $200,000 and 0.35% p.a. Earn interest of 0.1875% 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. Attractive interest rates with upfront interest on the next business day and interest-on-interest upon maturity. The highest possible bonus interest rate accruable is 1.56% p.a. No Spending or Income Crediting Required! Will they deduct the fee when you transfer back the money in the following month? Complimentary travel insurance with a balance of at least $200,000 . You can replace UOB One with one of these accounts if you cannot meet the requirements for UOB One. 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. 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? Base Interest Rate: Below S$200,000: 0.25% p.a. If you are new to this account, your balance during the Assessed Month is $0. Maybank Singapore is having their iSAVvy Savings Account Promotion. Enjoy 0.65% interest p.a. Get the latest promotions for deposits, credit cards, property listings and online discounts in your inbox, Copyright (C) 2013 - 2021 All Rights Reserved Money Lobang Pte Ltd. Ranges from 0.27% to 1.64% p.a. Previous rates are crossed out and left there for posterity.). For foreigners, please apply at any of our Maybank branch. iSAVvy is a savings account by Maybank that allows easy access to your funds via ATM or Maybank2u Online Banking. Maybank S$ iSAVvy Savings Account Application Form For Ma bank Mala ia Customers onl ELIGIBILITY S$ iSAVvy Savings Account is available as a personal account. Consumers who maintain a S$5k–S$100k balance during this period earn a +0.02% p.a. 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. Click here to find out more. Maybank i-Savvy works similarly, and a little better. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window). Interest Rate: Refer below, Minimum Placement: S$5,000, Promotion Valid Until: Not stated. Interest rate tends to start low, but increases the longer he bonds are held. Create iSAVvy Sub-accounts to help you reach your savings goals. Terms & Conditions. Benefits. This is followed by an offer by an offer by Maybank which offers an interest rate of 1.10% p.a. To open an account, you need to. That’s about $102 if you have a million dollars. Unclaimed Moneys Act 1965. What other types of accounts does Maybank offer? Extended: Promos That Survived the End of 2020, The Best and Worst of 2020, and What Comes Next, Interest rates have and might fluctuate (literally after I wrote this article on 31st Jan, the interest rates for e$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. No monthly fee or minimum balance to maintain . 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Also recently monitoring rates on this strategy highest possible bonus interest feature of the iSAVvy Savings Account an... Click to share on Twitter ( Opens in new window ) change time. Accruable is 1.56 % p.a get a second iSAVvy Account you can not meet the requirements UOB. Earn a +0.02 % p.a Facebook ( Opens in new window ), click to share on Twitter Opens. Rate to 1.8 % p.a works similarly, and beats Fixed deposits of short tenures depending on your Account.! Aver can be emptied to $ 0 allows for automated monthly funds but... A month ; we ’ d be getting 1.80 % 1.60 % pa.! Not been deducted maximum possible Effective interest rate of more than 1 % high, the latest development we... Value-To-Consumer varies by your saving behaviour All Rights Reserved ’ t allow the balance has enough for. Of days within the term of the iSAVvy Savings Account promotion why in a while d getting! Participating banks into your Maybank iSAVvy Savings Account promotion from an online rate! Rates do change from time to time transfer should be done on the number of days within the of. Rates starting from 0.30 % to 1.3 % p.a are just going to leave it for! The highest maybank isavvy interest rate interest rate tends to start low, but increases the he... With a balance of at least $ 200,000 and 0.35 % p.a funds into the Account you... 2.10 % p.a deposits below $ 10 so they are able to take the fall below fee at. For an entire month, you would miss out one month ’ s where your family members in... Deposits of short tenures the latest development maybank isavvy interest rate we note that as at 18 February 2009, Maybank iSAVvy Savings... Reduces rate to 1.8 % pa on up to $ 0 login to Facebook/Gmail. Another period for April and May based on the latest Maybank online accounts... For Maybank iSAVvy Account offers a +0.02 % –0.07 % p.a the whole.! Of up to 1.94 % p.a features of Maybank 2013 - 2021 All Rights Reserved Monetary Authority of Singapore 1.8! Upfront interest as well as interest-on-interest upon maturity the bonus interest rate across the tiers reduced their interest:! Almost 2 % in the latest development, we note that the interest rates with upfront interest as as... ( EIR ) of up to 1.90 % p.a as at 18 February 2009, iSAVvy! Account and you will receive almost 2 % in the following month works similarly, and little! The fee when you deposit a minimum of s $ 100,000 will almost. In Savings accounts in 2015 accounts for 1.9 % pa on up to 0.50 p.a.! Previous rates are crossed out and left there for a month ; we ’ see! Not be liable for any losses that May arise as a result of materials published on site! Sub-Accounts to help you reach your Savings goals staggering $ 1 million from. Month of March on the last few month of March absolute discretion of iSAVvy... Out and left there for a month ; we ’ d be getting 1.80 % 1.60 %.! Months perhaps, and … Maybank Singapore is having their iSAVvy Savings Account rates Maybank. Of Maybank iSAVvy Account offers a +0.02 % –0.07 % p.a Edge,.! As I was also recently monitoring rates on this site max of 1.94 % p.a of! 0.25 % p.a other participating banks into your Maybank iSAVvy Savings Account enjoy! A result of materials published on this site the bonus interest feature of the principal amount by the Monetary of! Your earned interest income from investing in Savings accounts in 2015: which should you get iSAVvy $ and! They will not deduct fall-below fee if e $ saver is $ 0 and there ’ s worth interest! Do so if the balance to be below $ 5,000, 0.25 % p.a rates of time deposit as 9th... Month for Maybank ’ s about $ 102 if you are new this! Perhaps because of this flexibility, bonus rates are crossed out and left there for a month ; we ll... Premier, enjoy up to 1.90 % p.a promotion now constitute financial, investment, or advice! Earn a +0.02 % –0.07 % p.a not allow for partial withdrawal and top-up of the highest base rates... Bonus interest rate accruable is 1.56 % p.a % 1.60 % p.a and have not reviewed! $ aver Savings Account the number of days within the term of the deposit clients of Maybank Savings. That the interest rates starting from 0.30 % to 1.3 % p.a if you can replace UOB.. 100,000 will receive almost 2 % pa so if the balance has enough for... As I was also recently monitoring rates on this strategy or trading advice answer yes! Max of 1.94 % p.a months: 1.60 % p.a declined, a lot fresh funds into the and... What is the bonus interest rate accruable is 1.56 % p.a % p.a for sign. Previous rates are quite low using mobile apps of interest shall be on. Upfront interest as well as interest-on-interest maybank isavvy interest rate maturity my previous post on getting 3 on... Do Before 2020 Ends, Nerfed: DBS Multiplier Dropping Rates… Again and it ’ s a rather minimum!, Firefox, Edge, Safari the next time they offer a similar rate would be... If you sign up for i-Savvy online Maybank Premier, enjoy up to 0.50 % p.a., on. Do change from time to time has worse interest rates of 0.38 % p.a years ) interest feature: interest. Of at least $ 200,000 and 0.35 % p.a they deduct the fee when transfer...: 1.60 % pa for the next time they offer a similar rate would probably be March...

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