Maybank Fixed Deposit Rate 2020
With effect from 9 July 2020. All interest / dividend rates quoted may change without prior notice. Please contact the nearest Maybank branch for the latest rates. Terms and Conditions on Fixed Deposit (FD) Premature Withdrawal. 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. 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. The current highest DBS fixed deposit rate of 1.3 per cent p.a. Is considered sky-high by Covid-19 standards. Maybank fixed deposit rates (Jan 2021). UOB fixed deposit rates (Dec 2020) UOB. #StayAtHome & Enjoy with higher Maybank Islamic Fixed Deposit-i (eIFD-i) profit rate via FPX. Directly deposit your funds from other banks to your eIFD-i with FPX to enjoy extra returns today. Campaign period: 19 June 2020 to 30 June 2020 on first come first served basis, valid until 30June 2020 or upon reaching the campaign limit, whichever is. Every $1,000 deposited into Maybank savings accounts will allow a deposit of $10,000 into Maybank Singapore Dollar Dollar Time Deposit account (Until May 2020) Enjoy 1.45% p.a. On 12 months SGD Time Deposit with a minimum placement of $20,000 in a Maybank Singapore Dollar Time Deposit account and a minimum deposit of $2,000 into a Maybank.
Looking for the best fixed deposits in August 2020 in Singapore? There is no National Day fixed deposit promotion this year. This is unlike previous years whereby banks offered a one time higher interest rate if you do a placement before National Day.
The 1 year interest rate for September 2020 Singapore Savings Bonds has fallen as low as 0.24%, thus any of the fixed deposits promotion below will beat the Singapore Savings Bonds.
I have shared many other financial instruments that is similar to what fixed deposits can offer. One good alternative is buying a short term endowment plan. Endowment plans guarantee your capital upon maturity which is similar to what fixed deposits offer. Most of the short term endowment plans are on limited tranche basis. You can read more about Best Endowment Plans In August 2020 here.
In July, I have signed up for a Dash EasyEarn, which is an insurance savings plan that offers you 2.0% p.a. for the first year up to S$20,000. The estimated interest rate p.a. is 1.5% thereafter.
The current low interest rates offered by most banks remained unattractive to me. Nevertheless, if you still prefer traditional fixed deposits, below are the best fixed deposits promotion that I have found for August 2020.
Among the banks below, I prefer the fixed deposit from DBS and MayBank given that they offer much higher interest rate per annum for a 12 month placement as compared to the rest of the banks.
DBS Fixed Deposit
Interest Rate: Refer below, Minimum Placement: S$1,000, Promotion Valid Until: Not stated
The interests rates were published on 18th June 2020. At this point of writing, I have not seen any revision to the interest rates.
For a minimum amount of S$1,000, you can perform a fixed deposit placement with DBS. For a 12 months placement of S$10,000 at 1.15% p.a., the interest that you will receive upon maturity is S$115.
MayBank iSAVvy Time Deposit
Interest Rate: 0.90% (12 months) or 1.15% (24 months), Minimum Placement: S$25,000, Promotion Valid Until: Not stated
As shared previously, MayBank had decided to do away with their traditional time deposit and replace with the iSAVvy Time Deposit.
This promotion is valid from 1st July 2020 onwards for a minimum placement amount of S$25,000 in iSAVvy Time Deposit via Maybank Mobile/Online Banking (for individuals only).
For a 12 months placement of S$25,000 at 0.90% p.a., the interest that you will receive upon maturity is S$225.
For a 24 months placement of S$25,000 at 1.15% p.a., the interest that you will receive upon maturity is S$578.31.
Hong Leong Finance Deposit Promotion
Interest Rate: Up to 0.65%, Minimum Placement: S$20,000, Promotion Valid Until: Not stated
For 8 months placement of S$20,000 at 0.60% p.a., the interest that you will receive upon maturity is S$80.00.
| Deposit Amount | 3 month | 8 month |
| S$20,000 to < S$100,000 | 0.35% | 0.60% |
| S$100,000 and above | 0.40% | 0.65% |
UOB Time Deposit
Interest Rate: 0.80%, Minimum Placement: S$20,000, Promotion Valid Until: 31st August 2020
The interest rate has fallen from 0.90% p.a. in July to 0.80% p.a. in August.
For 10 months placement of S$20,000 at 0.80% p.a., the interest that you will receive upon maturity is S$133.33.
| Minimum Placement (Fresh Funds) | Tenor | Promotional Rate |
| S$20,000 | 10 months | 0.90% p.a. |
OCBC Time Deposit
Interest Rate: 0.70%, Minimum Placement: S$5,000, Promotion Valid Until: 31st August 2020
OCBC has reduced their fixed deposit rate from 0.80% p.a. in July to 0.70% p.a. in August.
| Minimum Placement (Fresh Funds) | Tenor | Promotional Rate |
| S$5,000 | 12 months | 0.70% p.a. |
For 12 months placement of S$5,000 at 0.70% p.a., the interest that you will receive upon maturity is S$35.00.
CIMB Fixed Deposit
Interest Rate: Refer below, Minimum Placement: S$5,000, Promotion Valid Until: 31st August 2020
For 12 months placement of S$5,000 at 0.30% p.a., the interest that you will receive upon maturity is S$15.00.
Seriously?
Standard Chartered Bank Singapore Dollar Time Deposit
Interest Rate: 0.20% to 0.30%, Minimum Placement: S$25,000, Promotion Valid Until: 15th August 2020
For 6 months placement of S$25,000 at 0.20% p.a., the interest that you will receive upon maturity is S$25.00.
If you happen to be a priority banking customer, for 6 months placement of S$25,000 at 0.30% p.a., the interest that you will receive upon maturity is S$37.50.
Seriously?
| Minimum Placement | Tenure | Promotional Rate | Priority Banking Preferential Rate |
| S$25,000 | 6 months | 0.30% p.a. | 0.40% p.a. |
This event may have already ended. Don't miss out again, get the latest news via Newsletter, Telegram, Facebook, Twitter or RSS feed!
| Starts | 2 Oct 2020 (Fri) | Ends | ***UNKNOWN*** |
|---|---|---|---|
| Location | Maybank |
| SINGPromos is now on Telegram. Click here to follow us now |
Enjoy attractive interest rates (up to 1.0% p.a. for 36 months) with upfront interest on the next business day and interest-on-interest upon maturity. . Valid as of 7 February 2021
Round-the-clock service with Online and Mobile Banking
Choice of 3, 6, 12, 24 and 36 months
(Updated 7 Feb)
Maybank Fixed Deposit Rates 2020
| iSAVvy Time Deposit | |||
|---|---|---|---|
| S$5,000 to S$24,999 | |||
| Months | Upfront Interest | Interest-on-interest paid upon maturity | Total Interest |
| 3 | 0.2500 % p.a. | 40.0000% of upfront interest | 0.3500 % p.a. |
| 6 | 0.2500 % p.a. | 60.0000% of upfront interest | 0.4000 % p.a. |
| S$25,000 to S$50,000 | |||
|---|---|---|---|
| Months | Upfront Interest | Interest-on-interest paid upon maturity | Total Interest |
| 3 | 0.2500 % p.a. | 40.0000% of upfront interest | 0.3500 % p.a. |
| 6 | 0.2500 % p.a. | 60.0000% of upfront interest | 0.4000 % p.a. |
| 12 | 0.2500 % p.a. | 100.0000% of upfront interest | 0.5000 % p.a. |
| 24 | 0.2500 % p.a. | 160.0000% of upfront interest | 0.6500 % p.a. |
| 36 | 0.2500 % p.a. | 300.0000% of upfront interest | 1.0000 % p.a. |
| S$50,001 to S$249,999 | |||
|---|---|---|---|
| Months | Upfront Interest | Interest-on-interest paid upon maturity | Total Interest |
| 3 | 0.2500 % p.a. | 40.0000% of upfront interest | 0.3500 % p.a. |
| 6 | 0.2500 % p.a. | 60.0000% of upfront interest | 0.4000 % p.a. |
| 12 | 0.2500 % p.a. | 100.0000% of upfront interest | 0.5000 % p.a. |
| 24 | 0.2500 % p.a. | 160.0000% of upfront interest | 0.6500 % p.a. |
| 36 | 0.2500 % p.a. | 300.0000% of upfront interest | 1.0000 % p.a. |
| S$250,000 to S$1,000,000 | |||
|---|---|---|---|
| Months | Upfront Interest | Interest-on-interest paid upon maturity | Total Interest |
| 3 | 0.2500 % p.a. | 40.0000% of upfront interest | 0.3500 % p.a. |
| 6 | 0.2500 % p.a. | 60.0000% of upfront interest | 0.4000 % p.a. |
| 12 | 0.2500 % p.a. | 100.0000% of upfront interest | 0.5000 % p.a. |
| 24 | 0.2500 % p.a. | 160.0000% of upfront interest | 0.6500 % p.a. |
| 36 | 0.2500 % p.a. | 300.0000% of upfront interest | 1.0000 % p.a. |
| Singapore Dollar Time Deposit (%p.a.) | ||||
|---|---|---|---|---|
| Month(s) | S$ 1,000 to S$ 50,000 | S$ 50,001 to S$ 99,999 | S$ 100,000 to S$ 249,999 | S$ 250,000 to S$ 999,999 |
| 1* | 0.2000 | 0.2000 | 0.2000 | 0.2000 |
| 2 | 0.2000 | 0.2000 | 0.2000 | 0.2000 |
| 3 | 0.3000 | 0.3000 | 0.3000 | 0.3000 |
| 6 | 0.3500 | 0.3500 | 0.3500 | 0.3500 |
| 9 | 0.4500 | 0.4500 | 0.4500 | 0.4500 |
| 12 | 0.4500 | 0.4500 | 0.4500 | 0.4500 |
| 18 | 0.5000 | 0.5000 | 0.5000 | 0.5000 |
| 24 | 0.6000 | 0.6000 | 0.6000 | 0.6000 |
| 36 | 1.0000 | 1.0000 | 1.0000 | 1.0000 |
| * Minimum deposit for 1 month is S$10,000. | ||||
How to place deposit
Login to Maybank Online Banking to place a deposit into iSAVvy Time Deposit:
- Step 1: Select Account >Time Deposit > Singapore Dollar Time Deposit > iSAVvy Time Deposit
- Step 2: Select the account to debit funds for this placement
- Step 3: Agree to confirm the placement
Maybank Fd Rate
You must have a Maybank Savings or Current Account and Online Banking Access to make the placement online. Don’t have a Maybank account yet, apply for one online now.
Eligibility
- Minimum age: 16 years old
- Initial deposit: S$5,000
- Maintain any Maybank Savings or Current account with Maybank Online Banking access.
For more info, click here.
Maybank Fixed Deposit Rate April 2020
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Maybank Fixed Deposit Rate 2020 History
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