Attention Maybank account holders, Maybank will implement Split Tier interest calculation from 1st August!
According to Maybank, the Split Tier interest calculation mechanism will be implemented on August 1, 2022, which means that the interest rate will be determined based on the amount deposited by the customer.
The current interest rate of Maybank Savings Account is 0.20% to 0.25%, but this rate will be changed from August 1, the more deposits you make, the higher the interest rate will be. The Current Account will be changed from October 1st.
Under the Split Tier mechanism, when your deposit is less than RM2,000, you will only receive 0.05% interest per year. When your deposit is between RM2,000 and RM50,000, you will earn 0.65% interest. For those who deposit more than RM50,000, you will get 0.85%.
Attention! Even if your deposit exceeds RM50,000, your first RM2,000 deposit will still be calculated at 0.05% interest, the deposit from RM2,000 to RM50,000 will still be calculated at RM0.65% and only the remaining deposit will still be calculated at 0.85% interest.
Here is an example, let’s say you have RM60,000 deposit.
The first RM2,000 will earn you interest
RM1,999.99 X 0.05% X 31 / 365 = RM0.08
Interest earned from RM2,000 to RM50,000
RM48,000.01 X 0.65% X 31 / 365 = RM26.50
Interest earned above RM50,000
RM10,000 X 0.85% X 31 / 365 = RM7.22
The average total interest earned in a month is
RM0.08 + RM26.50 + RM7.22 = RM33.80
Effective from 1 August 2022
1. Basic Savings Account
2. Maybank2u Savers
3. Golden Savers Savings Account
4. Personal Saver
5. Flexi Saver Plan
6. Maybank2u.Premier Account
7. Savings Account-i
8. Basic Savings Account-i
9. Maybank2u Savers-i
10. Personal Savers-i
11. Flexi Savers-i
12. Yippie-i & Imteen i
Effective October 1, 2022
1. Premier 1 & Premier Savings Account
2. Private Banking Account
Effective August 16, 2022
1. Golder Savvy Account-i
2. Zest-i
Effective October 16, 2022
1. Private Banking Account-i
2. Premier Mudharabah Account-i
