Introduction to Maybank accounts

Updated 1 year ago by Junie Zhu

Maybank offers both Singapore dollar current accounts and foreign currency current accounts. You may refer to below tables for more information.

Singapore dollar current accounts

PremierBiz Account

FlexiBiz Account

Current Account

For company with these needs

Usually maintains high deposit balances, and wants to enjoy the best possible interest rates

Likely to maintain low or fluctuating account balance and does not want to be subject to a minimum balance fee

Maintains balance in the account for transactions but are not looking to earn interest

Minimum initial deposit

S$1,000

S$1,000

S$1,000

Interest rates

  • First S$500,000: 0.218% p.a.
  • Remaining balance above S$500,000: 0.318% p.a.
  • First S$50,000: 0.018% p.a.
  • Next S$450,000: 0.028% p.a.
  • Remaining balance above S$500,000: 0.038% p.a.

Non interest-bearing

Minimum Average Daily Balance

S$30,000

Not applicable

S$10,000

Monthly Service Fee

S$35 per month (waived if the average daily balance is at least S$30,000)

Not applicable

S$35 per month (waived if the average daily balance is at least S$10,000)

Foreign currency current account

Introduction

Foreign Currency Current Account is ideal for companies with frequent transactions in foreign currencies. It is available in US Dollars and other major foreign currencies. You can receive and make payments in the original currency without having to convert them into Singapore Dollars first.

Features

Flexibility to deposit into your account through:

  • Local clearing USD cheque (from a bank in Singapore)
  • Transfer from Maybank SGD account
  • Foreign currency notes deposit (charges apply; non-USD notes are only accepted at Maybank Tower branch)
  • Telegraphic transfers from other banks (charges apply)

Flexibility to withdraw from your account through:

  • Cheque issuance for USD accounts (free chequebook upon request)
  • Transfer to Maybank SGD account
  • Foreign currency notes (charges apply; only available at Maybank Tower branch)
  • Telegraphic transfers to other banks (charges apply)

Opening a Foreign Currency Current Account

  • Can be opened at any Maybank branch
  • Minimum initial deposit of US$1,000 or its equivalent
Interest rate for Foreign Currency Current Account
Minimum Balance Fee

Currency

Minimum Balance Fee (in respective foreign currency)

Minimum Average Daily Balance (in respective foreign currency)

USD

5

1,000

GBP

5

1,000

AUD

5

1,000

HKD

50

10,000

JPY

500

100,000

EUR

5

1,000

CAD

5

1,000

NZD

5

1,000

Should you have any other questions, feel free to reach out to the bank directly.

If you want to open your bank account with Maybank, you may refer to this guide on how to request for your bank account opening through Sleek platform.


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