Maybank Singapore unveils CPF time deposit for 2.9% per annum

They must allot at least S$20,000 from their CPF ordinary accounts to the time deposit account.

Maybank Singapore now offers central provident board (CPF) time deposits with a rate of 2.9% per annum (pa). 

It is offered to CPF members when they open a Maybank 12-month CPF time deposit account, done by placing at least S$20,000 from their CPF ordinary accounts (OA).

Maybank Singapore CEO Alvin Lee said that he is pleased to offer the 2.9% pa rate to new and existing customers.

“With the launch of Maybank CPF time deposit, it demonstrates our commitment to continually avail viable solutions to our customers and community,”Lee said.

CPF members can open a Maybank CPF time deposit account by visiting any Maybank branch even if their CPF Investment Accounts are with other banks.