Rating
Overall rating: 4/5
Methodology
This rating uses the same five-pillar framework applied across our Singapore business banking reviews: Features, Pricing and FX, Global payments, Ease of onboarding, and Support and ecosystem, each weighted equally and averaged for a final score.
Arithmetic mean approach
The final score is the simple average of the five pillar scores below.
Equal weighting
Each pillar carries 20% weighting, so no single category dominates the overall result.
Data sources
Scores draw on Maybank’s published rates, fee schedules, and feature pages, cross-checked against third-party reviews.
Interpretation caveat
This is a general benchmark. A business with different priorities, say, heavy international payments, would weigh these pillars differently.
Intended use
Use this score as a starting point for comparison, not a final verdict. Your transaction patterns and balance levels matter more than any single number.
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Features of the Maybank PremierBiz AccountMaybank PremierBiz Account
The Maybank PremierBiz Account is designed for businesses that require a combination of digital banking access, day-to-day transaction capabilities, interest on account balances, and support from a traditional bank. Key features include:
Interest-bearing SGD current account
Businesses earn 0.218% p.a. on the first SGD $500,000 and 0.318% p.a. on balances above SGD $500,000. This allows businesses to earn a return on idle operating funds, although it is important to consider the account's minimum balance requirement of SGD $30,000 and fall below fees of SGD $35.
Complimentary business debit card
This account comes with a complimentary all-in-one business debit card for daily expenses and payments.
Free business internet banking
Maybank offers free business internet banking allowing businesses to manage balances, transfers, and payments online without relying on branch visits.
Cheque facilities
Cheque usage is available at SGD $0.75 per cheque, whether issued and deposited. This benefits businesses that pay suppliers and service providers by cheque.
FAST transfers
The account supports FAST transfers at SGD $0.50 per transaction. Though ideal for occasional payments, businesses with high transfer volumes may prefer accounts with free local transfers.
Maybank PremierBiz Account fees and charges
The Maybank PremierBiz Account has a relatively low opening deposit, but businesses should pay attention to ongoing balance requirements and transaction charges.
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Documents required for Maybank PremierBiz Account
Required documents vary based on the business structure and application method. For online application, certified true copies of the following documents are needed:
- Identification: NRIC/passport (for owners, directors, authorised signatories and users of Business Internet Banking)
- Business profile/registration details from ACRA
- Constitution/by-laws or partnership/LLP agreement, when applicable
- Board/partners’ resolution authorising account opening and signatories
For branch applications, Maybank may require completed account opening forms, certified copies of company and identification documents, supporting business records, and the minimum opening deposit.
Who the Maybank PremierBiz Account works best for
It is ideal for the following:
- Established SMEs capable of maintaining the required minimum daily balance transacting primarily in SGD
- Businesses that want to earn interest on idle operating balances
- Companies seeking access to digital banking while still needing traditional banking support such as cheque usage
- Corporate entities requiring wider banking services that can benefit from a regional banking relationship
It is less suitable for the following:
- New startups with limited working capital or businesses that might not be able to maintain the required minimum balance
- Businesses seeking free FAST, GIRO, or local transactions
- Businesses that want built-in expense management or accounting integrations as standard instead of as an add-on
Pros and cons of the Maybank PremierBiz Account
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Ratings across platforms
As of June 2026, the ratings for the Maybank2u Singapore app are as follows:
- App Store (iOS): Limited number of ratings, but users praise its ease of use and convenience.
- Google Play: Rated 4.8/5, with users praising convenient management of cross-border and fund transfers, while some report device compatibility, and slow app speed.
Maybank PremierBiz Account vs competitors in Singapore
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Other alternatives to Maybank PremierBiz Account
- OCBC Bank Business Growth Account: Offers 80 free FAST and GIRO payments per month and no monthly fee for the first two months. With a low minimum balance of SGD $1,000 it comes with a free multi-currency account. The account may be particularly useful for SMEs with fluctuating cash balances and ongoing cross-border transaction needs.
- UOB eBusiness Account: This entry-level account comes with a SGD $5000 minimum daily balance and SGD $35 annual account fee, making it ideal for young businesses. It also offers 60 free monthly FAST, PayNow FAST, and GIRO transfers. For SMEs seeking a lower balance commitment, it works as a worthy alternative.
- Wise Business Account: Wise supports over 40 currencies and uses the mid-market exchange rate for currency conversions, with fees displayed upfront before each transaction. There is a one-time account setup fee of SGD $99 and no recurring monthly fees thereafter. With no minimum balance requirement or monthly account fee, the account may appeal to SMEs with variable cash flows or frequent international payment requirements.
- DBS Business Starter Bundle: DBS offers two account options: the Starter Bundle for businesses under three years old and the Standard tier for established companies. The Starter Bundle has no minimum balance requirement, unlimited FAST and GIRO transactions, and a SGD $10 monthly fee, while the Standard tier requires a SGD $10,000 minimum balance to waive the SGD $40 monthly fee. DBS also integrates with Xero, QuickBooks, and Financio, and offers FX rate lock-in for business transfers, making it a strong option for businesses seeking flexibility and digital integrations.
Conclusion
The Maybank PremierBiz Account may suit SMEs seeking an interest-bearing SGD business account with traditional banking features such as cheque facilities, a business debit card, and internet banking. It is best suited for businesses that can maintain higher account balances and primarily transact in SGD. However, businesses with lower cash reserves, frequent international transactions, or higher transaction volumes may find its limitations restrictive.
By comparison, Aspire supports 30+ currencies, offers free local transfers, built-in expense management tools, and accounting integrations, all without a minimum balance requirement. It may be a better fit for businesses looking for a more digital and flexible banking solution.
FAQs
What is the minimum balance requirement for the Maybank PremierBiz Account?
The minimum average daily balance required is SGD $30,000. If the account's average daily balance falls below this amount, a SGD $35 monthly fall-below fee applies.
How much interest does the Maybank PremierBiz Account pay?
The Maybank PremierBiz Account pays 0.218% p.a. on the first SGD $500,000 and 0.318% p.a. on balances above SGD $500,000.
Does the account include a business debit card?
Yes. The Maybank PremierBiz Account includes a complimentary all-in-one business debit card.
Can I make FAST transfers?
Yes. The account supports FAST transfers; FAST transfers are listed at SGD $0.50 per transaction.
Is Maybank PremierBiz suitable for startups?
Provided the startups can maintain the required minimum balance and need an interest-bearing account, then yes. However, for those with lower or fluctuating cash flows, a lower-commitment option like Aspire can be explored.
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