Maybank2U launched their new website in April 2018 with a clean and simple interface. Did you also know you can enjoy better returns on your savings accounts? Learn about the Maybank2u Savers/Savers-i Account with decent “high yield” savings account returns. Simplified info on benefits and how to apply for a M2U Savers/-i account online.
New Maybank2u Website Features & FAQ
New Website Features
- Simpler and more personalised with a cleaner easier to navigate layout.
- Website passwords can be saved on the new M2U site (the previous site disabled password saving for most browsers).
- All accounts, billers, payments, favorites, etc from previously are saved and remain unchanged.
How to access
- Login by clicking on the website pop-up or on the new Maybank2u login.
- You can still use the previous Maybank2u website.
M2U Savers/M2U Savers-i Benefits
|Account Type||Savings Bands||Nominal Rates (% p.a.)|
|Maybank2U Savers||< RM2,000||0.0%|
|Maybank2U Savers||RM2,000 - 50,000||2.0%|
|Maybank2U Savers||Above RM50,000||2.2%|
|Maybank2U Savers-i||< RM2,000||0.4%|
|Maybank2U Savers-i||RM2,000 - 50,000||2.1%|
|Maybank2U Savers-i||Above RM50,000||2.3%|
- Online application (only!) via M2U without needing to visit a branch.
- High-tiered interest rates with interest on daily basis and credited monthly basis.
- PIDM protected
- Free application.
- No savings passbook.
- Must be tied to existing ATM/debit card with first 4 withdrawals free (5th withdrawal onwards charged RM0.50 if account balance < RM5,000)
- Online accessible only from 6am – 11:50pm daily.
- Over the counter charges below RM5,000 will be charged RM5 per transaction.
- Age 18 and above.
- Resident or non-resident.
- Only able to apply for one account (but you can have sub-accounts).
- Join and in-trust account not allowed.
- Min deposit and min account balance: RM250.
- Penalty of RM20 if account closed within 3 months from account activation.
- Tied to Virtual Banking Branch with the Branch Code 11140.
Difference between M2U Savers VS M2U Savers-i
- M2U Savers-i is the Islamic savings account version.
- M2U Savers-i gives higher nominal returns.
How to Apply M2U Savers/M2U Savers-i
- Login to Maybank 2U.
- Click on Apply.
- Apply now for M2U Savers/Savers-i.
- Maybank2u Savers (maybank2u.com.my)
- Maybank2u Savers-i (maybank2u.com.my)
- Compounding interest rates calculator
Q: Which is better: M2U Savers or M2U Savers-i?
A: M2U Savers-i gives better returns without any visible drawbacks.
Q: I am concerned about the charges for over the counter transactions/frequent ATM withdrawals?
A: You can easily move your funds online via Maybank2U website/app from the M2U Savers account to your savings/current account and withdraw from there to avoid the charges.
Q: How have M2U Savers/-i benefits changed over time?
A: The benefits for both M2U Savers/-i used to be slightly better. As of January 2018, the M2U Savers has 0% nominal rates if your balance is below RM2,000. M2U Savers-i also previously had a small amount of death benefit for account holders.
Q: How is the monthly account balance calculated?
A: Based on the average account balance in the month.
Q: How does M2U Savers compare with other high-yield savings accounts like OCBC 360?
A: OCBC 360 does give better returns but has more requirements to fulfill.