Q1. How does the Save Up Programme work?

Customers who qualify for the eligibility criteria will be enrolled into the Programme.

Eligible Criteria

1. be a Maybank Privilege customer;
2. be a primary account holder of SaveUp Account;
3. have a debit card linked to their SaveUp Account (as primary account or for ATM withdrawals);
4. be at least 18 years old or turning 18 in that year of enrollment; and
5. be an Online Banking user.

Customers who take up any one of the Qualifying Products will be rewarded Bonus Interest of up to 7% p.a..

Qualifying Products and Services and their respective requirements:

Q1. How is Bonus Interest being accorded and paid?

Bonus interest will be paid on the first S$150,000 (based on average daily balance) of the SaveUp Account, based on number of qualifying products held per month, and will be credited into your SaveUp Account by the middle of the following calendar month.

Q2. If I have more than one SaveUp Account, which SaveUp account will the Bonus Interest be credited into?

In the scenario where you are the primary holder of more than one SaveUp Account, the Bonus Interest will be credited into the SaveUp Account with the highest average daily balance.

Qualifying Loan Products and Requirements

Q1. If my spouse and I apply for a joint Housing Loan and both sign up for the Save Up Programme, can both of us consider the loan to be 1 Qualifying Product?

The Housing Loan will be recognised as 1 Qualifying Product to the primary loan account holder.

Q2. What happens when my loan balance drops as I pay off my monthly instalments?

It will not affect the eligibility of your loan as we will refer to the approved loan amount and not the balance of your loan account.

Qualifying Credit Card Products and Requirements

Q1. For Credit Card to be eligible as one Qualifying Product, can I pledge Fixed Deposit(s) to obtain a Maybank Platinum Visa Card/ Maybank Privilege Horizon Visa Signature Card?

You can pledge fixed deposit(s) for Maybank Platinum Visa Card or Maybank Privilege Horizon Visa Signature Card and spending on one or both Cards will be considered as 1 Qualifying Product if you meet the requirements.

Q2. If I own more than 1 Maybank credit card can I combine my monthly spending to qualify for the Bonus Interest?

Only spending on either Maybank Platinum Visa Card or Maybank Privilege Horizon Visa Signature Card can be combined. (Note: The Maybank Horizon Platinum Visa Card IS NOT eligible)

Q3. Are all types of transactions included in the aggregation of the minimum spend of S$ 800?

Only retail transactions charged to Maybank Platinum Visa Card and/or Maybank Privilege Horizon Visa Signature Card are included in the aggregation of the minimum S$ 800 spend. Card transactions which are not eligible for rebates include:

• transactions arising from the use of the Card at an ATM or NETS;
• FlexiCash, Cash advance, Fund Transfer, 0% Instalment Payment Plans, FlexiPay, EZ-Link, Transit Link, Skrill, AXS, SAM, interest charges, late payment charges, finance charges, annual fees, reversals and other miscellaneous charges charged by a customer to his/her Card.
• any refunded, disputed, unauthorised or fraudulent retail purchases as well as Goods and Services Tax (GST); and
• any amount charged to Cards that are subsequently cancelled, voided or reversed. The amount will be deducted from the total spend amount in the month that it is cancelled, voided or reversed.

Q4. Is the minimum card spend based on my card statement cycle?

The minimum spend of S$800 must be on the Maybank Platinum Visa Card and/or Maybank Privilege Horizon Visa Signature Card in the current calendar month (based on transaction posted date) net of reversal transactions. Transactions made within the calendar month but which are posted late will be considered for the following month’s minimum spend amount.

Q5. Are transactions performed by supplementary card holders included in the aggregation of the minimum spend of S$800?

Yes, transactions performed by supplementary card holders are aggregated with the spending of the principal card holders in each calendar month.

Q6. If I have the SaveUp Account and hold a supplementary Maybank Platinum Visa Card and/or Maybank Privilege Horizon Visa Signature Card, will I be eligible for the Bonus Interest?

To be eligible for the Bonus Interest, you have to be the Principal Card Holder and primary Save Up Account holder.

Qualifying Unit Trust Products and Requirements

Q1. Will multiple lump sum investment amounts be recognised as a Qualifying Product if they add up to S$50,000 or its equivalent amount in the same calendar month?

Yes. For instance, you can invest S$25,000 on 2 April 2021 and come in again to invest another S$25,000 on 19 April 2021. You will qualify for the Bonus Interest as the two lump sums amount add up to be S$50,000. If you invest in the foreign currency share class, so long as the lump sum amount after foreign exchange conversion is SGD equivalent of S$50,000, you will qualify for the Bonus Interest. Multiple investment amounts are also acceptable for foreign currency share class as long as the minimum investment amount of S$50,000 is met.

Q2. Do I need to invest in the same Unit Trust for multiple investment amounts scenario?

No, you can invest in different Unit Trusts as long as the minimum investment amount of S$50,000 or equivalent is met and it is subscribed within the same calendar month.

Q3. What is the rewards period for bonus interest if I fulfill the criteria?

The rewards period for bonus interest will be up to a period of 12 calendar months. Should you top up your investment and it meets the S$50,000 criteria within the same calendar month, the rewards period will be reset to another 12 calendar months from the date of the latest new investment.

Q4. Will I still qualify for the bonus interest if either the Unit Trust investment account or Save-Up account is closed?

No, both Unit Trust investment account and Save-Up account must be active in order for you to qualify for bonus interest. For Unit Trust investment account, there is no need to have any holdings in it so long as it kept open.

Q5. If I were to cancel the subscription within the 7 days free- look period, will I still qualify for the bonus interest?

You will not be eligible for the bonus interest.

Qualifying Fixed Income Securities Products and Requirements

Q1. What are the requirements for Fixed Income Securities to be a Qualifying Product?

Invest a minimum nominal amount of $200,000 (in Fixed Income Securities of any currency) within one calendar month.

Qualifying Structured Deposits Products and Requirements

Q1.What are the requirements for Structured Deposits to be a Qualifying Product?

Place a minimum aggregated amount of S$50,000 in Structured Deposits within one calendar month to qualify for 3 months. For example, a S$50,000 Structured Deposit with value date in May 2021 will be a Qualifying Product from May to July 2021 (3 months).

Qualifying Products and Requirements

Q1. Will my Qualifying Products be increased if I purchase more than 1 Insurance policy?

Single premium policies and regular premium policies are treated as separate Qualifying Products.

New Insurance products incepted on or after 1st April 2019 and meets the product requirement will qualify as 1 Qualifying Product regardless of the number of new Insurance policies.

Q2. When will my Insurance be calculated for Bonus Interest?

Bonus Interest will be computed one month after the inception date of the Insurance policy(ies).

Example:
customer A bought an eSave delight presto plan and the plan was incepted on 25th of May 2021. This product will qualify as 1 Qualifying Product in June 2021 and the Bonus Interest accorded to this Qualifying Product will be credited into customer A's SaveUp Account by middle of July 2021.

Qualifying Dual Currency Investments Products and Requirements

Q1. What are the requirements for Dual Currency Investments to be a Qualifying Product?

Invest a minimum aggregated amount of S$50,000 equivalent, which have a minimum period of 14 days, within one calendar month.

Qualifying Service and Requirements

Q1. I am receiving my monthly salary through my SaveUp Account, will my existing salary arrangement qualify as 1 Qualifying Product?

Yes, it will be considered as 1 Qualifying Product if your monthly salary amount credited to the SaveUp Account is at least S$4,000, and is credited via interbank GIRO salary credit, PayNow salary crediting or Maybank Payroll.

Q2. I am receiving my monthly salary in my SaveUp Account through a cheque deposit/via FAST transfer from another bank/funds transfer from a Maybank Current Account. Will my existing salary arrangement qualify as 1 Qualifying Product?

No, only salaries of at least S$4,000 credited via interbank GIRO salary credit, PayNow salary crediting or Maybank Payroll are considered.

Q3. My employer pays me twice a month through interbank GIRO. If the total interbank GIRO credit amount is at least S$4,000 per month, will it be considered as 1 Qualifying Product?

The monthly salary amount needs to be at least S$4,000 in a single transaction to be considered as 1 Qualifying Product.

Qualifying Service and Requirements

Q1. If I performed a bill payment via Maybank’s internet banking by debiting my SaveUp Account, will it be eligible as 1 Qualifying Product?

No, internet bill payment is not a GIRO transaction. To sign-up for interbank GIRO debiting on your SaveUp Account, please obtain a GIRO form from your billing organization and submit the completed form with your SaveUp Account number to your billing organization.

Q2. I have more than 1 GIRO payment from my SaveUp Account every month. Can I combine all my monthly GIRO payments to qualify as 1 Qualifying Product?

Yes, we will sum up all the monthly GIRO debit transactions from your SaveUp Account to determine if your SaveUp Account is eligible. If the total monthly GIRO debit amount is at least S$500, it will be considered as 1 Qualifying Product.

Q3. I am using my SaveUp Account to pay my Maybank Credit Card/Loan instalments. Is the amount included when you sum up all the monthly GIRO debit transactions?

No, only interbank GIRO payments which are paid to billing organisations (excluding Maybank and Etiqa Insurance Singapore) are included.

Qualifying Deposits Products and Requirements

Q1. How is average daily balance determined if I have more than one SaveUp Account?

This is determined by adding up the total average daily balance of your SaveUp Account (for which you are the primary account holder) for each month.

The average daily balance of each SaveUp Account is computed by the sum of every day-end balance for a calendar month, divided by the number of days in that month.