Give your child a head start with three times the monthly interest on their savings with Maybank

Maybank is rewarding parents with three times the regularinterest on their child’s savings account simply by undertaking everyday transactions.

The introduction of this programme is part of Maybank’s desire to better cater to its customers’ needs and drive growth through more specific customer targeting. Called Maybank Family Plus, the bank aims to double its Youngstarz Savings accounts over the next two years.

This also reinforces Maybank’s intent to attract the young family segment through its family-oriented focus, complementing its existing partnerships with various theme parks in Singapore and the region.

Through Maybank Family Plus, customers earn two times the monthly interest on their child’s Youngstarz Savings account when they save at least S$200 into their child’s account monthly and maintain an average balance of S$2,000 or more in their own iSAVvy savings account. To earn three times the monthly interest on the Youngstarz Savings account, customers will just have to spend S$800 on the Maybank Family & Friends Platinum MasterCard each month, in addition to the previous criteria (See Table 1).

Mr Choong Wai Hong, Head of Community Financial Services at Maybank Singapore said, “Our customers are already undertaking these activities with us and this is simply a way to provide them with even more rewards when they bank with us as a family. This stems from the Group’s

regional initiative to offer the right suite of products for each segment such as young families. Our family customer segment has grown and now makes up 30 per cent of our base, a clear sign that these customers are doing more with us.”

Both the iSAVvy and Youngstarz Savings accounts are already popular among customers, thanks to its unique features such as free insurance coverage for Hand, Foot & Mouth Disease for their child1. The introduction of Maybank Family Plus makes it an even more attractive offer for the whole family.

Mr Choong continued, “These products already do well individually. By putting them together, we believe that it will be even more appealing for our customers, as they will gain the additional interest almost automatically.

“Children love watching their savings grow and take a lot of pride in maintaining their own savings account. These are all ways in which they start learning and cultivating good financial habits from a young age. For parents, this is simply another way of rewarding them for banking with us. We hope that through Maybank Family Plus, parents encourage their children to learn, manage and grow their money,” Mr Choong said.

-ends-

For more information, please contact:

Eunice Seow

Media & PR Manager

Maybank Singapore

T: 6550 7642

E: euniceseow@maybank.com.sg

Maybank – Humanising Financial Services

Maybank is among Asia's leading banking groups and South East Asia’s fourth largest bank by assets.

It has been ranked among the World's Top 20 Strongest Banks by Bloomberg Markets for two consecutive years - 2013 and 2014. The Maybank Group has an international network of 2,400 offices in 20 countries namely Malaysia, Singapore, Indonesia, Philippines, Brunei Darussalam, Vietnam, Cambodia, Thailand, Papua New Guinea, Hong Kong SAR & People's Republic of China, Bahrain, Uzbekistan, Myanmar, Laos, Pakistan, India, Saudi Arabia, Great Britain and the United States of America. The Group offers an extensive range of products and services, which includes consumer and corporate banking, investment banking, Islamic banking, stock broking, insurance and takaful and asset management. It has over 47,000 employees serving more than 22 million customers worldwide. (www.maybank.com)

Maybank is committed to bringing seamless banking and a wider spectrum of value-added financial services to our valued customers. By harnessing the latest technological advances to increase our network's effectiveness, our customers are able to conduct their banking transactions at anytime and anywhere in the world, via the traditional as well as electronic channels.

Maybank Singapore is one of the Group’s largest overseas operations. As at December 2013,

Maybank's total assets in Singapore were S$42 billion. With 1,800 employees, we are well-positioned to provide highly personalised services and locally oriented approaches, which will further enhance the Bank's standing in the local banking scene.

Contact
Dennis Lim

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