Maybank iSAVvy Savings Account: Earn interest rate of up to 1.55% p.a.

What's the deal with Maybank iSAVvy Savings Account Promo?

The Maybank iSAVvy Savings Account is offering a promotional interest rate of up to 1.55% per annum for new customers and fresh funds of existing customers from 1 March 2026 to 30 April 2026.

To earn the promotional interest rate of up to 1.55% per annum, you will need to have incremental deposits of at least S$10,000 during the promotional period compared to your February 2025 balances.

For existing customers of Maybank iSAVvy savings account, you will be able to earn a bonus interest of 0.90% p.a. on top of the base interest rate of 0.40% p.a. on your incremental average daily balance (ADB) if your ADB is in the range of S$10,000 to S$200,000. 

This means that you would be able to earn an interest rate of 1.30% per annum by increasing your average daily balance (ADB) compared to February 2026. 

If your ADB is higher than S$200,000, you will earn a base interest rate of 1.00% p.a., and bonus interest rate earned of 0.55% p.a. 

This means that you would be able to earn an interest rate of 1.55% per annum by increasing your average daily balance (ADB) compared to February 2026.

The promotional interest rates on incremental deposits are valid from 1 March 2026 to 30 April 2026.

What is the Maybank iSAVvy Savings Account?

The Maybank iSAVvy Savings Account is a basic savings account which offers a base interest rate of 0.05% to 1.00% p.a. depending on how much is deposited.

The minimum deposit amount is just $500, and you just need to be 16 years of age to open an account. 

What are the eligibility requirements for Maybank iSAVvy Savings Account promo?

#1 - The bonus interest is only offered on the incremental average daily balance 

For existing customers, the bonus interest rate will be applied to the incremental Average Daily Balance (ADB) compared to February 2026.

If your ADB is between S$10,000 and S$200,000, you will earn a base interest of 0.40% p.a. on funds already in your account, while your incremental ADB, will earn the additional promotional rate of 0.90% p.a.

For example, if you are an existing Maybank iSAVvy Savings Account holder with $10,000 in your bank account in February 2026, and have added $15,000 to your Maybank iSAVvy Savings Account in March 2026, the existing deposits of $10,000 will earn the base rate of 0.40% p.a. while the incremental $15,000 of deposits will earn an interest rate of 1.30% p.a. 

On the other hand, if your ADB is above S$200,000, your incremental ADB will earn the promotional rate of 1.55% p.a.

For new customers, the ADB for February 2026 is considered as zero. Hence, you will enjoy the interest rate of up to 1.55% p.a. during the promotional period.

#2 – Bonus interest rate only applicable for promotional period 

The bonus interest rate will only be applied for the promotional period from 1 March 2026 to 30 April 2026.

Once the promotion ends on 30 April 2026, the interest earned will revert back to the base interest rate. 

The credited interest will be processed within 10 business days of the following month. Note that no bonus interest will be granted if the account is closed.

#3 - Incremental ADB must be at least S$10,000

To be eligible for the bonus interest rate, the Incremental ADB must be a minimum of S$10,000 for the iSAVvy Savings Account. 

Also, the deposits must come from new funds. This means that cheques or transfers from an Account Holder's existing Maybank account are not eligible.

The full terms and conditions of the Maybank iSAVvy Savings Account Promo can be found here. 

How does the Maybank iSAVvy Savings Account compare to the other bank account?

Unlike the Maybank SaveUp Account which offers a higher interest rate when you fulfil certain criteria, the Maybank iSAVvy Account does not require you to jump through multiple hoops. 

That said, it’s worth noting that the headline “up to 1.55% p.a.” is not the default rate. 

It is only achievable if your incremental ADB is at least S$200,000. For incremental ADB from S$10,000 to < S$200,000, the promo rate shown is 1.30% p.a., and the bonus applies only to the incremental ADB portion.

The promotional interest rate of up to 1.55% per annum is comparable to other fuss-free accounts.

If you're able to have an incremental ADB of at least S$200,000, the promotional interest rate will then be higher than the CIMB FastSaver account which offers an effective interest rate of up to 1.35% p.a. on the first S$75,000 as well as the promotional interest rate of 1.25% p.a. offered by the Standard Chartered e-Saver account for balances above $200,000 without wealth holdings. 

However, if our incremental ADB is less than S$200,000, there are other options for hassle-free bank accounts that offer more competitive interest rates for a lower amount of ADB requirement.

How to apply for the Maybank iSAVvy Savings Account

To open a Maybank iSAVvy Savings Account, you will need to be at least 16 years old and have a minimum initial deposit of $500 for Singaporeans and Singapore PRs.

There are a few options that you can use to apply for the iSAVvy Savings Account:

• apply online
• via Maybank2u SG app (for Singaporeans and Singapore Permanent Residents)
• or visit a Maybank branch.

To speed up this whole process, we will recommend using Singpass Myinfo when you apply online.

Step #1 - Submit application with Myinfo

Ensure you have your Singpass ID, password, and an image of your signature ready.

Click on Myinfo, granting Maybank permission to access your personal information and speed up the process.

Step #2 - Receive Account Number

After completing the initial step, you'll receive an email containing your account number. This email includes a password-protected PDF attachment. The password required to open it will be sent to you via SMS.

New bank customers will also receive the following:

• Your Online Banking Access ID in the PDF file
• An additional SMS with your PIN for signing up or performing your first-time login to Online Banking.

What would Beansprout do?

If you have more than S$200,000 of savings, it may be worthwhile considering the promotional interest rate of 1.55% p.a. on fresh funds. 

However, we need to be aware that the bonus interest rate is only applicable to the promotional period, and your incremental fresh funds must be at least S$10,000.

If you have less than S$200,000 of savings, the promotional interest rate of 1.30% p.a. on fresh funds would still be lower than the UOB Stash Account which offers up to 1.50% p.a.. You can also make use of the UOB Leap of Fortune Savings Promotion to earn up to S$340 guaranteed cash when you deposit fresh funds into your UOB Stash account. 

From a practical standpoint, Maybank iSAVvy Savings Account works best as a savings account to park money you want to keep safe and accessible for emergencies, bills, and near-term goals, while still earning some interest. 

To find out which savings account allows your money to work harder, check out our guide to the best savings account with highest interest rates in Singapore.

But once you’ve already set aside enough cash to cover your safety buffer and upcoming expenses, putting every extra dollar into savings accounts may not be the most efficient way to grow your wealth. 

At that point, it can be worth exploring longer-term options like diversified investments that have a better chance of outpacing inflation over time.

If you’re new to investing and want a simple framework to get started, check out our beginner-friendly guide here.

To explore ways to grow your money beyond savings accounts, check out our our guide to best ways to earn a passive income in Singapore.

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