After I wrote about the The Best Fixed Deposits of September 2019, one of my readers asked about the time deposit offered by Maybank as the interest rate offered is 2.00% per annum. I went to the website to find out more. For a 2.00% interest rate p.a. the tenure is actually 24 months. Furthermore, you need S$50,001.

Here are the details for the iSAVvy Time deposit offered by Maybank:

You need to have a Maybank Current or Savings account. The placement must be done via MayBank online banking. The minimum placement amount is S$50,001 and the maximum is S$1 million. Choose between 12 months or 24 months period to enjoy 1.70% p.a. or 2.00% p.a. respectively. For placements via Online Banking, an upfront interest of 0.25% p.a. will be credited into customer’s savings or current account, opened and/or maintained with Maybank, on the next business day following the successful...