Business Account

Maybank PremierBiz account review in 2026

Bintang Lestada

July 10, 2026

Maybank PremierBiz account review in 2026

Summary

The Maybank PremierBiz Account is an interest-bearing SGD current account designed for Singapore-registered SMEs that maintain higher account balances
The minimum opening deposit is SGD $1,000, with interest rates of 0.218% p.a. on the first SGD $500,000 and 0.318% p.a. thereafter
A fall-below monthly fee of SGD $35 applies if daily balance falls below SGD $30,000
Cheque issuance and cheque deposits are available at SGD $0.75 per cheque
Comes with a complimentary business debit card, FAST transfers, and business internet banking access

The Maybank PremierBiz Account is an interest-bearing current account designed for Singapore businesses that maintain higher operating balances. It offers competitive interest rates, cheque facilities, FAST transfers, a business debit card, business internet banking access, and other essential banking services. These features make it a suitable option for businesses that primarily transact in SGD.

This Maybank PremierBiz Account review examines the account's key features, fees, eligibility requirements, and how it compares with other traditional business bank accounts and modern fintech alternatives.

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.

Pillar	Weightage	Score out of 5	Rationale
Features	20%	4.5	An interest-bearing SGD accountIncludes business internet banking, cheque facilities, and FAST transferComplimentary all-in-one business debit cardDoesn’t include accounting integration or built-in expense management
Pricing and FX	20%	4.5	The initial minimum deposit is accessible at SGD $1,000A minimum balance of SGD $30,000 must be maintained to avoid a monthly fall-below fee of SGD $35Interest rate of 0.218% p.a. on first SGD $500,000 and 0.318% p.a. on remaining balance above SGD $500,000SGD $0.50 per FAST transactionCheque services available at SGD $0.75 per cheque for issue and deposit each
Global Payments	20%	3	Supports international transfers through Maybank's banking networkSuitable for occasional cross-border transactions but lacks extensive multi-currency functionalityFX fees and global payment costs are not disclosed
Ease of onboarding	20%	4	Online application through Myinfo BusinessCan open a business account by visiting a branch; application process follows traditional bank onboarding requirements.May involve more documentation and verification compared to digital-first providers.
Support and ecosystem	20%	4	Access to a broad range of customer support via email, FAQs, and phone-based customer serviceBacked by Maybank’s regional banking network, branch access, business internet banking, and broader SME banking services.

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.

Fee or requirement	Amount
Minimum initial deposit	SGD $1,000
Interest rate (on first SGD $500,000)	0.218% p.a.
Interest on balance above SGD $500,000	0.318% p.a.
FAST transfer (per transaction)	SGD $0.50
Cheque issuance and deposits	SGD $0.75 per cheque
Overdraft fees	3% p.a. + prescribed interest charge or 5% p.a. + Prime Lending Rate (whichever is higher), subject to a minimum charge of SGD $20
Business debit card	Complimentary
Internet banking for business	Free access
Minimum balance fee	SGD $35 applicable as minimum balance fee if daily balance of SGD $30,000 isn’t maintained
Early closure fee	SGD $50 payable if the account is closed within 6 months of opening

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

Pros	Cons
Interest-bearing business current account	Fall-below fee of SGD $35 applicable on non-maintenance of average daily balance of SGD $30,000
Low minimum initial deposit of SGD $1,000	No built-in corporate expense management system
Free access to business internet banking	FAST transfers are chargeable at SGD $0.50 per transfer
Complimentary business debit card	Early account closure fee of SGD $50 (if closed within 6 months of account opening)

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

Platform	Monthly fee	FX fees	Currencies held	Minimum balance	Free local transfers	Expense management	Accounting integrations	Best for
Maybank PremierBiz Account	Fall-below fee of SGD $35 per month	Bank rates and charges apply	Only SGD but separate foreign currency account can be opened	Monthly balance of SGD $30,000	FAST available at SGD $0.50 (per transaction)	Not available	Not available	Well-established and mature businesses requiring interest-bearing SGD account with traditional banking support
Aspire	None	Starts from 0.22%	30+ currencies	None	FreeFASTandGIRO	In-built	Xero, QuickBooks, NetSuite, Deskera, SAP	Businesses that need multi-currency transactions, corporate cards, and expense management
OCBC Business Growth Account	SGD $10/month after the first 2 months	Not disclosed publicly	SGD but can be linked to multi-currency account to support up to 13 currencies	SGD $1,000	80 free monthly FAST and GIRO	Not available	Xero, InvoiceNow	SMEs wanting a low minimum balance and a larger free transaction bundle
DBS Business Starter Bundle	SGD $10/month	Standard bank spreads	SGD but can be linked to a multi-currency account	None	Unlimited FAST and GIRO	Limited	Xero, QuickBooks, Financio	New businesses wanting unlimited free local transfers
UOB eBusiness Account	SGD $35 annual fee	Not publicly disclosed	SGD only	SGD $5,000 average daily balance	60 free monthly FAST/PayNow and GIRO	Not available	Xero via Business Kit add-on	New SMEs looking for an entry-level SGD account with first-year fall-below waiver
Wise Business	Only a one-time setup fee applies	Mid-market rate	40+ currencies	None	Limited local business banking features	Basic	Xero, QuickBooks	Businesses prioritising international payments and transparent FX

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.

Sources

Features and pricing, Maybank -
https://www.maybank2u.com.sg/en/business/local-enterprise/sme/manage-day-to-day/deposits/premierbiz-account.page
Features, UOB - https://www.uob.com.sg/business/accounts/uob-ebusiness-account.page
Business banking, OCBC -
https://www.ocbc.com/business-banking/smes/accounts/business-growth-account
Business starter bundle, DBS - https://www.dbs.com.sg/sme/day-to-day/accounts/dbs-business-multi-currency-account-starter-bundle

This blog is for general information only and does not constitute financial, legal, tax, or professional advice. Aspire’s services are subject to the terms outlined in our 'Terms of Service' and 'Pricing' pages. We make no guarantees as to the accuracy, completeness, or timeliness of the content, and past results do not indicate future performance. Always consult a qualified professional before acting on any information provided.