Maybank Privilege Plus Savings Account
Singapore Savings Account Rates presents Maybank Privilege Plus Savings Account.
Maybank Privilege Plus Savings Account Details
Privilege Plus Savings Account is the first & only savings account which offers privileged customers attractive interest rates on their savings and at the same time, protects them with free personal accident insurance coverage.
Key info
•Higher interest than passbook savings account
•Free Accidental Medical Reimbursement Benefit and Accidental Permanent Disablement Benefit insurance coverage
Benefits
•Attractive interest for your retirement funds.
•Free personal accident insurance coverage1 subject to:
◦Minimum balance of S$30,000 on your Privilege Plus Savings Account.
◦Free personal accident insurance coverage1 will be applicable to customers aged between 50 to 70 years old. For joint account, only the older account holder will be entitled to the free personal accident insurance coverage1.
◦Account can be opened in single-name or joint-name basis. For joint accounts, one of the Account Holders has to be 50 years and above.
◦Account holder must be a Singapore Citizen, Singapore Permanent Resident and Foreigners with Employment Pass / Work Permit / Dependant’s Pass / S Pass.
•Accidental Medical Reimbursement Benefit (AMR)
◦The claim on the medical expenses as a result of a Bodily Injury will be based upon production of original receipts, up to S$500 per event.
◦The total claims incurred in one Bodily Injury must exceed S$50. Subject to 1st medical expense incurred within 4 weeks of accident and medical expenses incurred for the same event must not exceed 1 year.
•Accidental Permanent Disablement Benefit (APD)
◦The insured person must sustain Bodily Injury which results in his/her Permanent Disablement to be eligible to the claim of up to S$30,000.
◦It is a one time claim under this benefit, once a claim is settled the coverage for the insured person is terminated.
Table of Benefits Claim Amount
• Permanent Total Disablement= S$30,000
• Permanent Loss of or Loss of Use of two (2) Limbs= S$30,000
• Permanent Loss of sight in two (2) eyes= S$30,000
• Permanent Loss of or Loss of Use of one (1) Limb and Loss of sight in one (1) eye= S$30,000
• Permanent Loss of speech and hearing= S$30,000
• Permanent Loss or Loss of Use of one (1) Limb or Loss of sight in one (1) eye= S$15,000
• Permanent Loss of speech= S$15,000
• Permanent Loss of hearing= S$15,000
Maximum Amount Payable = S$30,000
•Easy cash withdrawals via your ATM Card
◦Withdraw cash (no transaction fee) from ATMs in Singapore via the atm5 QFB shared ATM network
◦Withdraw cash in local currencies (S$3 for each overseas transaction) from Maybank ATMs in Brunei, Malaysia, the Philippines, Singapore and Indonesia*.
•Easy transaction monitoring – update your passbook at any Branch or Passbook Update Machine to view transaction details
•24-hour account access via our ATMs, cash deposit machines, PhoneBanking (Dial-Link) and Maybank2u.com.sg
Additional terms and conditions apply for the personal accident insurance coverage. Please refer to Branches for a copy of the policy schedule.
Maybank Privilege Plus Savings Account Interest rate
Promotional interest rates2 on your Maybank Privilege Plus Savings Account:
First S$3,000 = 0.6875% p.a.
Next S$47,000 = 0.6875% p.a.
Remaining balance above S$50,000 = 0.7500% p.a.
2 Promotional rates are valid from 14 May to 15 August 2010 for the first 3 months from the date the Account is opened. Thereafter, additional interest rate of 0.25% p.a. on Maybank’s prevailing Savings Account interest rates will apply. Promotion may end earlier at Maybank’s sole discretion.
Plus, the first 2,000 Maybank customers who open a new Privilege Plus Savings Account and place a minimum deposit of S$30,000 into the Privilege Plus Savings Account will be entitled to S$30 Voucher. Terms and conditions apply.
Maybank Privilege Plus Savings Account interest is calculated on a daily basis and credited monthly.
Maybank PremierOne product bundling offer:
This is applicable to open the Privilege Plus Savings Account customers and new Maybank PremierOne Account opened from 14 May to 15 August 2010.
Promotional interest rates3 on Maybank PremierOne Account:
First S$3,000 = 0.4375% p.a.
Next S$47,000 = 0.4375% p.a.
Remaining balance above S$50,000 = 0.5000% p.a.
3 Promotional rates are valid from 14 May to 15 August 2010 for the first 3 months from the date the Account is opened. Thereafter, prevailing PremierOne Account interest rates will apply.
Promotion may end earlier at Maybank’s sole discretion. For new PremierOne Account opened during the promotional period only.
Minimum initial deposit
•S$10 for Singaporeans
•S$500 for Foreigners
Who can apply
•Singapore Citizens, Singapore Permanent Residents
◦Minimum 50 years of age
•Foreigners
◦Minimum 50 years of age
Required documents
•Singapore Citizens, Singapore Permanent Residents – Singapore NRIC
•Foreigners – Passport and Employment Pass or Work Permit
Fees and charges
•Singapore Citizens and Singapore Permanent Residents
◦S$2 monthly service fee; waived with a minimum average daily balance of S$200
•Foreigners
◦S$5 monthly service fee; waived with a minimum average daily balance of S$500
* Bank Internasional Indonesia (BII) ATMs
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Singapore Savings Account Rates.
Image: Online savings account rates (Maybank).
