Maybank Fixed Deposit Rate Promotion Singapore 2026: Bundle vs Standalone vs Fresh Funds Explained

Updated 5 November 2026 · 7 min read

Maybank Singapore’s fixed deposit promotions offer up to 2.40% p.a. on 12-month placements in November 2026 — one of the stronger rates from a traditional bank this year. There are three distinct products: the Deposits Bundle Promo (best rates, requires a 10% fund-earmarking arrangement alongside your deposit), the Standalone Time Deposit (no conditions, slightly lower rate), and the Fresh Funds Promo (for new money moving into Maybank). All three require a minimum of S$20,000.

Not financial advice. All figures are for educational reference only. Data verified as at 5 November 2026.

Maybank Fixed Deposit Rates in November 2026

Maybank Singapore currently runs three separate fixed deposit promotions. Here is a complete snapshot of all available rates as at 5 November 2026:

Product	Tenor	Interest Rate p.a.	Min. Deposit	Condition
Deposits Bundle Promo	9 months	2.25%	S$20,000	10% fund-earmarking
Deposits Bundle Promo	12 months	2.40% ⭐	S$20,000	10% fund-earmarking
Standalone Time Deposit	6 months	2.10%	S$20,000	None
Standalone Time Deposit	9 months	1.90%	S$20,000	None
Standalone Time Deposit	12 months	2.10%	S$20,000	None
Fresh Funds Promo	Varies	Up to 2.20%	S$20,000	Incremental ADB in fresh funds

Source: Growbeansprout, StashAway, singpromos.com — data as at 2–5 November 2026. ⭐ = highest available rate. All products require an existing Maybank savings or current account with Maybank2u access for online placement. Rates are promotional and subject to change without notice.

One important note that many depositors overlook: when your Maybank FD matures, it auto-renews at the prevailing board rate — not the promotional rate. The board rate is significantly lower (often 0.1–0.5% p.a.). Set a calendar reminder close to your maturity date so you can manually renew at the promotional rate, or move your funds elsewhere.

If you are comparing Maybank against every other bank, see our full highest fixed deposit rate Singapore roundup, which is updated monthly.

The Deposits Bundle Promo gives you Maybank’s highest FD rate — 2.25% for 9 months and 2.40% for 12 months. However, it comes attached to a condition that some depositors find confusing: you must commit 10% of your time deposit amount into a fund-earmarking arrangement.

In practice, this means that for every S$100,000 you place in the Bundle FD, S$10,000 must simultaneously be placed into a Maybank investment fund (a unit trust or similar product offered by Maybank). The fund investment and the FD are bundled together as a single product.

Key things to know about the Bundle Promo:

The minimum is S$20,000 for the FD component, meaning your 10% fund earmarking is at least S$2,000 invested in a qualifying fund.
The fund investment portion is not protected under the Singapore Deposit Insurance Corporation (SDIC) scheme — only the FD portion is covered (up to S$100,000 per depositor per institution under SDIC).
Investment funds carry market risk — the value of the earmarked fund can go up or down, unlike the FD principal.
You cannot redeem or switch the fund during the FD lock-in period (9 or 12 months) without potentially affecting the promotional rate.
The combined product requires a Maybank investment account in addition to your bank account.

Who is the Bundle Promo best suited for? Depositors who already hold (or are open to holding) Maybank investment products, want the highest possible rate, and are comfortable with a small portion of their capital in a fund. If you prefer to keep 100% of your savings in guaranteed, SDIC-protected products, the Standalone Time Deposit is a cleaner option.

Maybank fixed deposit rates by product type November 2026 — Bundle Promo vs Standalone comparison chart

Maybank FD rates by product and tenor — Bundle Promo consistently pays 0.15–0.30% more than Standalone. Source: Growbeansprout, StashAway (November 2026).

Standalone Time Deposit: No Conditions, Straightforward

If the Bundle Promo’s fund-earmarking requirement doesn’t appeal to you, Maybank’s Standalone Time Deposit is the alternative. There are no bundled products, no investment accounts needed, and no additional conditions beyond having a Maybank savings or current account.

Current Standalone rates (November 2026): 2.10% for 6 months, 1.90% for 9 months, and 2.10% for 12 months. Interestingly, the 9-month rate (1.90%) is lower than both the 6-month and 12-month rates — this pricing is intentional, as Maybank incentivises shorter or longer lock-ins over the mid-tenor.

When Standalone makes more sense than Bundle:

You want your entire deposit to be SDIC-insured (up to S$100,000).
You don’t have an existing Maybank investment account and don’t want to open one.
You’re depositing exactly S$20,000 (the minimum) and don’t want to split it between FD and a fund.
You prefer simplicity — one product, one rate, one maturity date.

At 2.10% for 12 months on S$50,000, a Standalone FD earns you approximately S$1,050 in interest over the year. That’s a straightforward, predictable return with no moving parts.

For context, a 12-month Singapore Savings Bond (SSB) currently yields around 2.3–2.5% — slightly higher and also fully capital-guaranteed by the Singapore government (backed by MAS, not SDIC). SSBs are worth comparing if you have at least six months before needing the funds, though they have a S$200 minimum and a maximum per-person cap.

Maybank’s Fresh Funds Promo is designed to attract new deposits from customers who don’t already hold significant balances with Maybank. It offers up to 2.20% p.a., which falls between the Standalone and Bundle rates.

The key requirement is that the deposited amount must come from outside Maybank — it must represent an incremental increase in your Average Daily Balance (ADB) at Maybank over the previous period. In other words, you cannot simply transfer existing Maybank funds from one account to another and qualify for the Fresh Funds rate.

What qualifies as fresh funds:

Funds transferred in from another bank (DBS, OCBC, UOB, etc.)
Salary credits from a new employer that weren’t previously going into Maybank
Proceeds from maturing fixed deposits at other banks
New cash deposits at the branch

Maybank will verify your ADB figures at the point of placement to confirm the funds qualify. If you’re consolidating funds from multiple banks or switching your savings relationship to Maybank, the Fresh Funds Promo is worth considering — the 2.20% rate beats the Standalone Time Deposit’s 12-month rate of 2.10% without the investment condition of the Bundle Promo.

Thinking more broadly about where to park your savings? Our passive income Singapore guide compares FDs, T-bills, SSBs, REITs, and dividend stocks to help you build a diversified savings and investment strategy.

How to Place a Maybank Fixed Deposit Online (Step-by-Step)

Maybank allows you to place fixed deposits online via Maybank2u — no branch visit required. Here is what you need and how the process works:

Prerequisites:

An active Maybank savings or current account (you cannot place a FD without one)
Maybank2u internet banking access (or the Maybank app)
A minimum of S$20,000 available in your Maybank account to transfer into the FD
For the Bundle Promo: a Maybank investment account as well

Step 1: Log in to Maybank2u
Visit www.maybank2u.com.sg and sign in with your username and PIN. If you have Multi-Factor Authentication (MFA) set up, approve the login request via your phone.

Step 2: Navigate to Fixed Deposits
In the main menu, look for “Save & Invest” or “Products”, then select “Time Deposit / Fixed Deposit”. Alternatively, some versions of Maybank2u show it directly under “Accounts”.

Step 3: Select the Promotional Rate
Choose between the Deposits Bundle Promo, Standalone Time Deposit, or Fresh Funds Promo. Select your preferred tenor (6, 9, or 12 months) and confirm the displayed interest rate matches what you expect.

Step 4: Enter Deposit Amount and Debit Account
Key in the amount (minimum S$20,000) and select which Maybank account the funds should be debited from. The system will show your projected interest at maturity.

Step 5: Review Maturity Instructions
You can choose what happens at maturity: “Renew principal only”, “Renew principal and interest”, or “Credit to account”. Important: if you leave it on auto-renew, it renews at the board rate — not the promotional rate. Set an alert to come back and re-price at maturity.

Step 6: Confirm and Receive Confirmation
Review the summary screen, enter your OTP when prompted, and submit. You will receive an email confirmation and can view the placement under “Accounts → Time Deposits” in Maybank2u.

If you are placing the Fresh Funds Promo, you may need to visit the branch or call Maybank’s customer service to confirm that your funds qualify as incremental ADB — the online portal may not always process this automatically.

Need help figuring out how much your fixed deposit earns over time? Use our Singapore retirement planning calculator to model how compounding interest from FDs, T-bills, and other instruments adds up toward your financial goals.

Maybank vs Other Banks: 12-Month FD Rates in November 2026

How does Maybank stack up against the rest of the market? Here is a comparison of the best available 12-month fixed deposit rates from major Singapore banks and finance companies as at November 2026:

Bank / Institution	Best 12M Rate p.a.	Min. Deposit	Condition
Maybank (Bundle Promo)	2.40%	S$20,000	10% fund-earmarking
RHB Premier	2.20%	S$50,000	Premier account required
Maybank (Fresh Funds Promo)	Up to 2.20%	S$20,000	Fresh/incremental funds only
CIMB	2.15%	S$1,000	None (online placement)
Hong Leong Finance	1.90%	S$20,000	None
OCBC	1.85%	S$5,000	None (12M promo)
UOB	1.70%	S$10,000	Fresh funds preferred
MariBank	1.48%	S$100	None — digital bank
DBS/POSB	1.00%	S$1,000	None

Source: Bank websites, Growbeansprout (November 2026). Rates shown are the best available 12-month rate from each institution — not all accounts may qualify. Always verify current rates directly with the bank before placing a deposit.

Best 12-month fixed deposit rates Singapore banks November 2026 comparison chart

Maybank Bundle leads Singapore bank 12-month FD rates in November 2026 at 2.40% p.a. CIMB’s rate is notable for having no conditions and a low S$1,000 minimum. Source: Growbeansprout, bank websites (November 2026).

A few things stand out from this comparison. CIMB is worth highlighting: at 2.15% for 12 months with no conditions and a S$1,000 minimum, it offers the best combination of accessibility and rate for depositors who cannot meet Maybank’s S$20,000 minimum. For a comprehensive view of all Singapore bank rates, see our Singapore bank fixed deposit rate 2026 comparison.

If you’re considering whether fixed deposits are the right tool at all — versus Singapore T-bills (currently yielding around 1.95% at the last auction), SSBs, or money market funds — the answer depends on your time horizon and flexibility needs. FDs lock your money in; T-bills can be liquidated in the secondary market; SSBs allow early redemption with no penalty.

Who Should Use Maybank FD (and Who Shouldn’t)?

✅ Maybank FD makes sense if:

You have at least S$20,000 to lock away for 6–12 months
You already bank with Maybank and have Maybank2u set up
You want to maximise your return and are comfortable with the Bundle Promo’s fund earmarking
You’re bringing in fresh funds from another bank and qualify for the Fresh Funds Promo
You want a traditional bank (not a digital bank) with an established branch network

⚠️ Consider alternatives if:

You have less than S$20,000 — CIMB (S$1,000 min), MariBank (S$100 min), or SSBs (S$200 min) are more accessible
You need flexibility to access your money before maturity — T-bills and SSBs allow this; FDs typically involve a penalty for early withdrawal
You want the absolute best risk-free rate without conditions — SSBs may edge out the Standalone FD at 2.10–2.40% with higher government backing
You don’t have a Maybank account and don’t want to open one — the account opening process adds friction
Your deposit exceeds S$100,000 — only the first S$100,000 is SDIC-insured; consider spreading deposits across institutions

Fixed deposits work best as one component of a broader savings and investment strategy. Use our highest fixed deposit rate Singapore comparison to benchmark Maybank’s current rates against the latest market data before committing.

Frequently Asked Questions

What is the highest Maybank fixed deposit rate in November 2026?

The highest Maybank fixed deposit rate in November 2026 is 2.40% p.a. for 12 months under the Deposits Bundle Promo. This requires a minimum of S$20,000 and a 10% fund-earmarking arrangement (a portion of your deposit amount must be placed in a qualifying Maybank investment fund alongside the FD). The best no-conditions rate is 2.10% p.a. for 6 or 12 months under the Standalone Time Deposit.

Does Maybank FD require a minimum deposit?

Yes. The minimum deposit for all Maybank fixed deposit promotions — Bundle Promo, Standalone Time Deposit, and Fresh Funds Promo — is S$20,000. This is higher than many banks such as CIMB (S$1,000), OCBC (S$5,000), or digital banks like MariBank (S$100). If you have less than S$20,000 to deposit, Maybank FD promotions will not be available to you and you should consider those alternatives.

Is Maybank fixed deposit covered by SDIC?

Yes — the principal and accrued interest of a Maybank fixed deposit is insured by the Singapore Deposit Insurance Corporation (SDIC) up to S$100,000 per depositor per institution. This applies to the FD component of both Standalone and Bundle Promo placements. However, the investment fund portion of the Bundle Promo (the 10% earmarked funds) is not covered by SDIC as it is an investment product, not a deposit. If your total Maybank deposits (across all accounts and FDs) exceed S$100,000, consider spreading funds across other SDIC-member banks.

What happens to my Maybank FD when it matures?

By default, a Maybank fixed deposit automatically renews at maturity — but it renews at Maybank’s prevailing board rate, not the promotional rate. The board rate is significantly lower than the promotional rate (often in the range of 0.1–0.5% p.a.). To avoid inadvertently rolling over at a low rate, set a calendar reminder for a few days before your maturity date so you can log into Maybank2u and either: (1) choose not to renew and credit the funds back to your account, or (2) re-place at the latest promotional rate. You can also change your maturity instruction during the placement process.

Can I withdraw a Maybank FD before maturity?

Early withdrawal of a Maybank fixed deposit is generally permitted but comes with a penalty: you typically receive little to no interest for the period held, depending on when you withdraw. Full principal is returned. The specific penalty terms are set out in Maybank’s terms and conditions at the time of placement. This is a key difference from Singapore Savings Bonds (which can be redeemed any month with no penalty) or T-bills (which can be sold in the secondary market, though at a price that may be above or below face value depending on market conditions).

Do I need a Maybank account to open a Maybank FD?

Yes. To place a Maybank fixed deposit online via Maybank2u, you need an existing Maybank savings or current account. The FD is funded by a transfer from this account. Without a Maybank transaction account, you cannot access promotional FD rates online — you would need to visit a branch instead, and branch-placed FDs may not always qualify for all promotions. If you don’t yet have a Maybank account, the account opening process takes approximately 1–2 weeks, so factor this into your planning.

How does Maybank Bundle Promo compare to just doing a Standalone FD?

The Bundle Promo pays 0.30% more for 12 months (2.40% vs 2.10% for Standalone). On a S$100,000 FD, that difference is S$300 in additional interest over the year. However, the 10% earmarking (S$10,000 in this case) goes into an investment fund that carries market risk — the value could fall. Whether the extra interest outweighs the investment risk depends on the specific fund chosen and your risk appetite. If you’re uncertain, the Standalone rate of 2.10% at zero conditions is a clean, predictable choice — and still competitive versus DBS (1.00%), OCBC (1.85%), and UOB (1.70%).

Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice. Fixed deposit rates change frequently — always verify current rates directly with Maybank or your bank of choice before placing a deposit. The Kopi Notes does not receive any referral fees from Maybank for this article. All rate data was verified against third-party aggregators as at 5 November 2026. Singapore Deposit Insurance Corporation (SDIC) coverage limits and terms are subject to change — refer to www.sdic.org.sg for the latest information.