Maybank Singapore launches new interest features to depositors

The lender’s whole suite of deposit products for iSAVvy Singapore dollar time deposit.

Maybank Singapore has offered depositors various interest features for both online and regular deposit accounts.

Head of consumer banking, Helen Neo, said Maybank's whole suite of deposit products would come with different interest kickers, such as the interest-on-interest feature for the iSAVvy Singapore dollar time deposit.

"With Singapore Interbank Offer Rate (SIBOR) deemed by analysts to be trending up, with our 'Maybank Saver Series 1 SD' structured deposit, we also offer an interest kicker if SGD 6-month SIBOR reaches two per cent or above," she said at the launch here on Monday.

iSAVvy account holders will also get free personal accident insurance when they maintain a minimum balance of S$100,000 in their accounts.

In addition to time deposits, Maybank is launching the "Maybank Saver Series 1 SD" structured deposit from June 1-23, 2011.

This Singapore dollar-denominated SD offers customers a total of four per cent guaranteed payouts over the three-year period with principal guarantee if held to maturity.

View the full story in Bernama.