15 January 2024

Maybank Singapore launches its CPF Time Deposit at 2.90% p.a.

Singapore – Maybank Singapore (Maybank) now offers Central Provident Board (CPF) time deposits for CPF members* when they open a Maybank 12-month CPF time deposit account by placing at least S$20,000 from their CPF Ordinary Accounts (OA).

Mr Alvin Lee, Maybank Country CEO and CEO, said, “We are very pleased to enable new and existing customers to enjoy attractive guaranteed returns at 2.90% p.a. to grow their CPF OA savings from their untapped CPF OA funds for retirement planning and other purposes with us. In any market environment, time deposits are always an evergreen and popular investment option for many.”

“With the launch of Maybank CPF time deposit, it demonstrates our commitment to continually avail viable solutions to our customers and community,” he added.

CPF members can open a Maybank CPF time deposit account by visiting any Maybank branch even if their CPF Investment Accounts are with other banks.

*Eligibility requirements: Customers must be Singaporeans and Singapore PRs who are 18 years old and above, and have CPF Investment Accounts.

For media queries, please contact sg.corpcomms@maybank.com