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Maybank Singapore Slashes Time Deposit Rates, Effective 11 July 2025
Maybank Singapore has revised its iSAVvy Time Deposit promotional interest rates downward, capping them at 1.6% p.a. starting 11 July 2025. This change marks the second reduction in less than a month, following a previous adjustment on 16 June 2025 when the bank lowered rates to a maximum of 1.75% p.a.
This downward revision signals a strategic recalibration in response to evolving market dynamics and anticipated monetary tightening. The previous peak of 1.75% p.a. seen in mid-June has now tapered further, indicating a more cautious lending and deposit environment across Singapore’s banking sector.
Details of New iSAVvy Time Deposit Rates
Effective from 11 July 2025, the new promotional interest rates for the iSAVvy Time Deposit are:
| Tenure | Promotional Rates (% p.a.) |
|---|---|
| 6-month | 1.60% |
| 9-month | 1.60% |
| 12-month | 1.50% |
These rates apply exclusively to Individual Banking customers with a minimum placement of S$20,000. The updated figures reflect a continued strategic positioning by Maybank to align with a more conservative outlook in global financial markets.
Application Guidelines
Interested depositors can apply via the official Maybank promotional webpage. Applicants should navigate past the section labelled “Deposit Bundle Promotion (Placement in Branch)” to view specific information related to the iSAVvy Time Deposit campaign.
Market Implications and Broader Context
Maybank’s rate adjustments reflect a broader cooling trend in deposit products across Singapore’s banking sector. As financial institutions react to shifts in liquidity flows and central bank policies, savers are encouraged to assess offerings across the market. The latest move aligns with widespread expectations that peak deposit rates have likely passed their recent highs.
Investors looking to benchmark these new rates against competing products may benefit from visiting this updated comparison guide of Singapore’s best fixed deposit rates, which offers detailed insights across multiple banks and tenor preferences.
Maybank Singapore’s updated promotional deposit rates mark a further step in its cautious yet competitive approach to savings products amid a recalibrating interest rate environment. While the maximum of 1.6% p.a. falls short of previous highs, it remains a viable option for customers seeking fixed mid-term returns. As interest rates continue to fluctuate globally, banks are likely to remain adaptive in their deposit strategies, making timely reviews essential for yield-conscious savers.
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