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Maybank Singapore Revises Promotional Time Deposit Rates Downward
Maybank Singapore has made a downward adjustment to its promotional interest rates for the iSAVvy Time Deposit, effective 16 June 2025. This continues the downward trend from its earlier campaign in early June, where customers could enjoy rates of up to 1.85% p.a.. The revised rates, now maxing out at 1.75% p.a., suggest a more cautious stance by the bank as it navigates changing market dynamics.
This latest revision reflects what appears to be a strategic recalibration, possibly influenced by moderating interest rate expectations globally and a need for tighter liquidity controls. The change follows a recent promotional offer in early June 2025 that had rates up to 1.85% p.a., signalling a more aggressive stance just weeks earlier.
iSAVvy Time Deposit Rates (From 16 Jun 2025)
| Tenure | Promotional Rates (% p.a.) |
|---|---|
| 6-month | 1.60% |
| 9-month | 1.70% |
| 12-month | 1.75% |
These revised rates are open to Individual Banking customers only, and apply to deposits of at least S$20,000. Despite the slight reduction, the iSAVvy Time Deposit remains a popular vehicle for savers looking for dependable mid-term returns.
Application Process
Interested customers can take advantage of the updated promotion by visiting the official Maybank promotion page. Applicants are advised to scroll beyond the “Deposit Bundle Promotion (Placement in Branch)” section to locate the iSAVvy Time Deposit product details.
Exploring Other Savings Options
Those seeking alternative deposit opportunities or comparative rates may refer to this curated guide to the best fixed deposit rates in Singapore. It offers a broader perspective on interest-bearing products from various financial institutions, catering to different savings objectives, time horizons, and risk appetites.
Terms and Conditions
All prospective depositors should review the full terms and conditions available in the official Terms and Conditions for Time Deposits Promotion (PDF). This document outlines all essential information including eligibility requirements, early withdrawal penalties, rollover rules, and other regulatory disclosures.
Maybank Singapore‘s decision to revise its rates underscores a responsive strategy aimed at sustaining financial discipline while still offering relatively attractive yields amid a changing economic backdrop. While the 1.75% p.a. ceiling is more modest than before, it remains a competitive option in a cooling interest rate environment.
As macroeconomic variables continue to evolve, particularly with global inflationary pressure and central bank policy adjustments, Singapore-based savers are reminded to routinely review their financial strategies and seek guidance from financial advisors as necessary.
This move by Maybank highlights the dynamic nature of deposit interest rates in Singapore’s banking sector, where consumers are encouraged to remain vigilant and flexible in response to changes. The slightly reduced but still competitive rates offer a stable avenue for medium-term savings with a trusted institution.
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