There are times when we have idle funds in our savings account that just sit there without providing maximum benefits. Instead of just 'idling', these funds can be optimized by investing in deposits, which offer higher and safer returns than regular savings.

What is a Time Deposit?

Deposits are term deposit products offered by banks, where customers deposit money for a certain period of time in exchange for a fixed return . Deposits offer certainty in that the promised return is set in advance and will be received by the customer at maturity.

Advantages of Deposits vs Regular Savings

Ordinary savings are generally used for daily needs and easy-to-access fund storage. Unlike ordinary savings, funds placed in deposits cannot be withdrawn at any time but aim to earn higher interest than ordinary savings. Therefore, time deposits are an attractive option for those who want to keep their money for a certain period of time with considerable returns.

If you're still confused about choosing between savings or time deposits, there are some important differences that you should know about:

• Return

  One of the most prominent differences is the amount of return. Ordinary savings tend to provide a return that is usually lower and subject to change while time deposits offer a higher interest rate that is fixed over a certain period.

• Time Period

  Deposits have a specific time period that usually ranges from 1 to 12 months. During this period, funds cannot be withdrawn, unlike savings which can be withdrawn at any time. Meanwhile, regular savings are not tied to a specific time period.

• Fund Disbursement / Account Closure

  Deposit accounts can only be closed when the placement period ends / matures. So that we are more disciplined in saving funds, not tempted for consumptive purposes.

• Collateral for Credit / Financing Submission

  Deposits can also be used as collateral when you apply for a loan or financing to the bank. This is one of the advantages that savings do not have.

• Mudharabah Mutlaqah

  In Sharia deposits, the bank will manage and distribute the funds in accordance with Sharia principles. The agreement used is Mudharabah Muthlaqah. Withdrawal of funds can only be made according to certain conditions in accordance with the provisions and procedures applicable in the Bank. Profit sharing is based on a profit sharing pattern according to the profit sharing ratio (Profit Sharing Nisbah) agreed at the beginning of the Agreement.

Open Maybank Deposit online via M2U ID App, get return up to 5.75%

Maybank Deposito comes as an investment solution that offers higher returns, by opening Maybank Deposito online via M2U ID App, you can get a return of up to 5.75% per year. You can turn your idle funds into productive assets in just a few easy steps through the M2U ID App. Maybank Deposito has various advantages that make it more attractive as an investment instrument:

• Low Risk

  Compared to other investment instruments, deposits have a very low risk because the funds deposited are guaranteed by the Deposit Insurance Corporation (LPS).

• Return certainty and ease of management

  You will receive a fixed return from the beginning until maturity, without being affected by market fluctuations. Deposits do not require regular monitoring or in-depth financial analysis, making it an ideal choice for those who want to invest hassle-free.

• Safe and Guaranteed by LPS

  All time deposits are guaranteed by LPS with up to IDR 2 billion.

• Flexible Time Period

  Maybank Deposito offers flexible time periods ranging from 1,3,6,9,12 to 24 months, which can be customized according to your needs.

• Available in IDR and USD currency

  Maybank Deposito/Maybank Deposito iB is available in IDR (Rupiah) and USD (Dollar) with a minimum placement of IDR10,000,000 for IDR currency and USD 1000 for USD currency.

• Sharia Deposit option available

  Open Maybank Deposit iB via M2U ID App, through the Sharia Deposit option there is a zakat option that is automatically paid from the returns earned.

• Auto Renewal Facility

  No need to bother to invest regularly, by opening Maybank Deposit via M2U ID App, there is an AutomaticRoll Over (ARO) facility that allows you to extend the investment period after the maturity date.

• CompetitiveReturn on Maybank Deposit/Maybank Deposit iB

  Open Maybank Deposit Online through M2U ID App and get a return of up to 5.75% per year. Check out the Maybank Deposit return simulation table below for an overview of the benefits you can get:

Return in IDR Currency

Return in USD Currency

For more information about interest rates/yields on deposits, you can visit this page.

How to Open Maybank Deposit Online via M2U ID App

If you are interested in the returns provided, you can open a Maybank Deposit through the M2U ID App. Here's how you can follow:

1. Login M2U ID App
2. Click the “+” Icon
3. Choose Online Deposit
4. Choose “Deposit” for regular deposit
5. Choose the account from which the deposit amount will be debited
6. Click on tenor option and maturity instruction. Then click “Next”
7. Select the currency and enter the deposit amount. Then click “Process”
8. Make sure all data is correct, then click 'Confirm'
9. Enter Secure2u passcode
10. Maybank Deposit Online opening is successful

For more complete information can be seen on this page.

Download M2U ID, open Maybank Deposito/Maybank Deposito iB online at M2U ID App and feel the convenience.