On the occasion of Chinese New Year, Maybank has come up with a new fixed deposit (FD) promotion. The promotion includes 2 participating products—Conventional Fixed Deposit and General Investment Account-i. Read on to know more about the promotion.
Maybank FD Promotion
Maybank Privilege Customers:
Deposit a minimum of RM100,000 in the FD account for a period of 6 months in fresh funds to get a promotional rate of 4.00% p.a. In the case of rollover funds, you can earn a promotional rate of 3.90% p.a.
Maybank Private and Maybank Premier Customers:
A minimum sum of RM250,000 must be deposited in fresh funds to an FD account for 12 months to get a promotional rate of 4.28% p.a. With rollover funds, you will get a promotional interest of 4.18% p.a.
The details of the promotion are summarised in the table given below:
|Participating Product||Account Type||Minimum Deposit Amount||FD Tenure||Promotional Rate for Fresh Funds||Promotional Rate for Rollover Funds|
|Conventional FD||Maybank Privilege||RM100,000||6 months||4.00% p.a.||4.28% p.a.|
|Maybank Private and Maybank Premier||RM250,000||12 months||3.90% p.a.||4.18% p.a.|
Maybank Fixed Deposit Promotion Start & End Date
The campaign is valid from 2 January 2019 until 28 February 2019.
Maybank Fixed Deposit Promotion Terms & Conditions
- The FD placements must be made over the counter to be considered for the promotion.
- If you withdraw the FD amount immediately after opening the account without providing 31 days’ notice period, you will not be entitled to get the interest.
- When you make a premature withdraw with 31 days’ notice period, 50% of the designated interest will be paid.
You can get the promotional benefits only if you satisfy the eligibility criteria of the promotion. So use these promotions as soon as possible to get the best rates.
Maybank Fixed Deposit Promotion FAQs
Q. What are the eligibility criteria for the promotion?
A. The following eligibility criteria are applicable to the promotion:
- You should be a new/existing Maybank Privilege, Maybank Premier, or Maybank Private customer.
- Employees of Maybank/Maybank Islamic Bank and their immediate family members are not eligible for the promotional benefits.
- Non-individual applicants, such as schools, societies, colleges, universities, partnerships, and sole proprietorships are not eligible for the promotion.
Q. What do fresh funds mean?
A. Fresh funds can be defined as:
- The amount credited to your Maybank CASA as a result of clearing a cheque from another bank.
- Funds recently transferred to your Maybank CASA.
Q. What are rollover funds?
A. Rollover funds are those got from the maturity of fixed deposits or that transferred from your CASA maintained with Maybank.
Q. What are the existing FD Board rates applicable to FD?
A. The existing FD Board rates on FD are 3.30% p.a. and 3.35% p.a. for 6-month and 12-month tenures.
Q. Does the interest rates offered differ based on the amount placed in the FD account?
A. No. The bank follows a single-tiered approach on interest rates. The rates don’t differ based on the amount placed in an FD account. However, it differs based on your account type—Maybank Premier, Maybank Private, and Maybank Privilege.