The programmes will offer customers up to 4% p.a., 7% p.a, and 8% p.a. respectively, which will only apply if customers hit the maximum balance eligible of $75,000, $150,000 and $200,000. These figures were previously $50,000, $100,000 and $150,000.
The bonus interest rates only apply to customers who have more than three or four products with Maybank, depending on the type of savings account.
This news comes as a time where banks across Singapore are offering up higher interest rates for fixed deposits in a battle for cash. Last October, Oversea-Chinese Banking Corporation (OCBC) raised the interest rates on its flagship 360 savings account to offer customers 4.65% p.a. on the first $100,000 in bank accounts, while Standard Chartered Bank raised its interest rates to offer 4.88% p.a., on its Bonus$aver account.
