MAYBANK’S COVID-19 SUPPORT
Helping our customers and community partners tide over the COVID-19 pandemic is an epitome of Maybank’s corporate mission to humanise financial services. As the Singapore economy adjusts to the new normal, we continue to stand shoulder to shoulder with you, such as offering financial assistance benefit to customers who experience side effects due to COVID-19 vaccination.
We hope the series of repayment relief measures, provided from 6 April 2020 to 30 September 2021, have helped to ease your financial burden. Should you need further assistance with your repayments, please approach us to discuss alternative options in servicing your financial obligations.
For our Individual Customers
Credit Card Monthly Minimum Payment
As part of COVID-19 Relief Package, from July 2021, the monthly minimum payment for Maybank Personal Credit Card and Fund Transfer accounts will be reduced from 3% to 2%* of outstanding balance or S$20, whichever is higher.
*Interest applies on outstanding balance
- The minimum payment amount of your monthly statement will be calculated at 2% of outstanding balance or S$20 (whichever is higher). Customers do not need to apply for this relief measure.
For our SME Customers
Government Supported Financing Schemes for SMEs
To help SMEs tide over this challenging period, SMEs can tap the following government-assisted loans under Enterprise Financing Scheme (EFS):
- Temporary Bridging Loan Programme (TBLP)
Eligible enterprises may borrow up to S$3 million under the TBLP, with the interest rate capped at 5% p.a., from 1 April 2021.It will be extended for another 6 months from 01 April 2022 to 30 September 2022 at S$1,000,000 per Borrower and the interest rate will be capped at 5.5% p.a.. Find out more here.
For more information, call our Business Banking hotline 1800-777 0022, or request a call back with our Business Development Managers today.
Maybank Cares for Customers During COVID-19
Customer Care at Maybank Branches
At Maybank, your well-being and safety is our top priority. In view of the current COVID-19 situation, we have taken additional precautionary measures to ensure a safe environment for our customers and staff.
We encourage you to make use of self-service banking facilities, online banking or the mobile banking app to do your banking securely whenever possible.
Currently, all 18 Maybank branches are open to serve your banking needs. Please note that we have implemented the following measures for your safety at our branches:
- Customers are required to wear a mask and sanitise their hands before entering the premises.
- Priority assistance will be given to vulnerable groups such as the elderly and pregnant women.
- Hand sanitisers are also available in all branches.
We will continue to stay vigilant about evolving scenarios and comply with nationwide control measures. Customers can also visit the Ministry of Health website (www.moh.gov.sg) for the latest updates. Get in touch with us at 1800-MAYBANK (1800-629 2265) or (65) 6533 5229 (Overseas) for assistance on our platforms.
Video Conference Wealth Advisory Service
In line with safe distancing measures, we are pleased to be able to provide video conferencing to serve your investment and insurance related needs so that you may continue to take advantage of investment opportunities in the comfort and safety of your home.
- Video conference wealth advisory can now be conducted via Webex.
- For Maybank Premier clients, please reach out to your dedicated Relationship Manager or get in touch with us at 1800-536 7888 (Local) or (65) 6536 7888 (Overseas).
- For Maybank Privilege clients, please reach out to your Personal Financial Advisor. If you do not have an advisor, get in touch with us at 1800-536 9888 (Local) or (65) 6536 9888 (Overseas).
Face-to-Face Wealth Advisory
We encourage clients to make use of the video conference wealth advisory whenever possible. If you are unable to access video conferencing, please make an appointment with us for a face-to-face wealth advisory.
These are the safe management measures in place for your safety and well-being.
- Please make an appointment to secure your face-to-face advisory appointment slot at maybank.sg/apt.
- Ensure that you wear a mask and sanitise your hands before entering the premises.
For Maybank Privilege clients, please reach out to your Personal Financial Advisor. If you do not have an advisor, get in touch with us at 1800-536 9888 (Local) or (65) 6536 9888 (Overseas).
For Maybank Premier clients, please reach out to your dedicated Relationship Manager or get in touch with us at 1800-536 7888 (Local) or (65) 6536 7888 (Overseas).
Complimentary COVID-19 Coverage for Etiqa Insured Individuals
In addition, Etiqa Insurance Singapore has introduced Financial Assistance Benefit for COVID-19 to all insured persons* of life protection and insurance savings plans.
In the unfortunate event that insured persons are diagnosed with COVID-19, they will receive complimentary coverage for hospitalisation benefits of S$100 daily (up to 10 days) for patients in stable condition and S$200 daily (up to 5 days) for those in the Intensive Care Unit (ICU), including a lump sum payment of S$50,000 in the event of death.
This will help minimise the financial impact and disruption to their daily lives. To find out more, visit www.etiqa.com.sg/covid19.
* This excludes customers who contracted or are suspected to have the virus before 13 February 2020.
Free Financial Assistance Benefit for COVID-19 vaccine side effects
Etiqa is extending its free Financial Assistance Benefit for COVID-19 vaccine side effects to all existing and new individual customers of Maybank Singapore Limited, in addition to all life and eligible general insurance customers of Etiqa Insurance Singapore.
The complimentary benefit covers the side effects of COVID-19 vaccination with a Hospitalisation Benefit of up to S$1,000 over a maximum of 10 days, and an Intensive Care Unit Benefit of up to S$1,000 over a maximum of 5 days. Application is not required and coverage is free of charge.
As Singapore continues to roll out its COVID-19 vaccination programme in its steady hopes of gradual return to normalcy, Etiqa offers certainty of protection, which the insurer hopes will encourage more people to take the vaccine. This is in line with Etiqa’s motto to make the world a better place, and its commitment to facilitating Singapore’s recovery from the crisis. For more information and full terms and conditions, please visit https://www.etiqa.com.sg/covid19-updates/vaccine-benefits/.
Maybank Cares for the Community
Charities in Singapore May Apply for the Maybank Momentum Grant
Maybank Singapore and The Majurity Trust have launched Singapore’s first interest-free recyclable grant to help small, promising charities. The S$2 million Maybank Momentum Grant will provide capital and capacity support for small charities that are struggling due to the Covid-19 pandemic. The grant seeks to enable the charities to continue their work with communities-in-need.
A key component of the Maybank Momentum Grant is a capacity-building process that grantees will undergo. Grant administrator, The Majurity Trust in partnership with Tri-Sector Associates and funder, Maybank Singapore, will roll out a series of masterclasses and mentorship programmes for the grantees. These charities will also be offered a Maybank Community Package, comprising SME banking solutions and a suite of subsidised digital solutions.
For more information or application, please visit https://www.majurity.sg/momentum.