Questions & Answers about Maybank iSAVvy Savings Plus Account 2024
iSAVvy Savings Plus Account is an online banking savings account which encourages savings by rewarding customers with bonus interest every 6 months of the average daily balance of the account increases every month.
Maybank Singapore
Maybank is among Asia's leading banking groups and is South East Asia's fourth-largest bank by assets comprising of 765.3 billion Malaysian Ringgits. It has an international network of 2,600 branches in 18 countries including all 10 ASEAN countries, chiefly focusing on its "home market" of Malaysia, Singapore, Philippines, and Indonesia. Mayback offers an extensive range of products and services to its customers including Commercial Banking, Investment Banking, and Insurance. Singapore is one of Maybank groups largest overseas operations and for the provision of more value to its customers Maybank Singapore Limited was created, one of the subsidiaries of Mayback groups, to carry its wide-ranging operations in Singapore. It has been effective since 5 November 2018 and operates with Qualifying Full Bank (QFB) privileges in more than 25 service locations. As of 31 December 2018, Maybank's total assets in Singapore were approximately $73.3 billion and had a staff strength of over 2000 employees
iSavvy Savings Plus is completely new to me, who can please explain how the bonus interest works?
Maybank iSAVvy Savings Plus Account
You will have to keep topping up and the bonus interest depends on the amount of money you top up. You may notice that bonus interest become a constant amount rather than a compounded amount if I am not wrong because it is incremental balance that gets the special interest rate.