Maybank Singapore Dollar Time Deposit

 

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Min. Deposit
$50,000

Interest Rate
up to 1.40%

Review on Maybank Singapore Dollar Time Deposit

Pros
High FD interest rate

Cons
Limited time promotion
Must deposit at least $5,000 into existing Maybank banking account

 

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Details

Maybank Time Deposit and Deposit Account Bundle Promotion

18 mths 24 mths
$50k & above^ 1.40% p.a. 1.55% p.a.

^ Excluding a min. deposit of $5,000 into a Maybank account

Every $1,000 deposited into Maybank savings accounts will allow a deposit of $10,000 into Maybank Singapore Dollar Dollar Time Deposit account

Enjoy up to 1.55% p.a. on SGD Time Deposit with a minimum placement of $50,000 in a Maybank Singapore Dollar Time Deposit account and a minimum deposit of $5,000 into a Maybank Passbook Savings, Privilege Plus Savings or Maybank SaveUp Account

 

Click here to go to Maybank website for more details about the bundle deposit promotion

 

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Reviews or Comments (10)

Ave. Rating:
3/5 (12)
Topic: Maybank Singapore Dollar Fixed Time Deposit Review
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New
Chong li lian
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1
1
0
Oct 2017
Chong li lian says...

Agree that the headline 1.40% is quite misleading as the effective rate is around 1.20%. Better to put money in other banks.

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New
Chong Sin Chee
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1
1
0
Aug 2017
Chong Sin Chee says...

With the money deposit in time deposit and need some money is channel into the saving account which tis amount deposited cannot br draw out.. based on calculation is only 1.20+%..

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New
Anne Chiam
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3
0
0
May 2017
Anne Chiam says...

I agree with Desmond Kwang that there is a risk with Malaysian banks especially under current economic climate plus these:

a) their local news reported several scandals where billions/millions of dollars "evaporated" from govt -linked Companies and their EPF (the equivalent of our CPF)

b) Rumour that their election will be held soon...their govt needs money to oil their election machinery.

You can Google for the above news.

Therefore , deposit $50 will do. Safer to stay with our SG local banks....big, strong and friendly.

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Regular
Money Lobang
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42
11
0
Sep 2014
Top Poster
Most Likes
Money Lobang says...

Hi, as mentioned earlier, all deposits in any individual bank or finance company operating in Singapore are insured by the Singapore Deposit Insurance Corporation (set up by government) for a sum of up to $50,000. Hence, your deposits will be safe up to a limit of $50,000. Please refer to https://www.sdic.org.sg for more info.

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New
Anne Chiam
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3
0
0
May 2017
Anne Chiam says...

Money Lobang - Thank you for your promt response

1 2 3 > Last

 

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