What are the fees and charges involved in a MaxSave Time Deposit account?

It is important to know the following fees and charges involved with your MaxSave Time Deposit Account (TD) if you meet the following conditions:

 

Completed TD Contract: 

  • Withholding Tax (WHT): Interest earned will be subject to 20% WHT 

 

Cancelled TD Contract (beyond cooling-off period):

  • Withholding Tax (WHT): Interest earned will be subject to 20% WHT

  • Documentary Stamp Tax (DST) Fee: Customer will shoulder DST Fee 

  • Term is <1 year = term in days / 365 * 1.5 / 200 * principal amount

  • Term is >1 year = 1.5 / 200 * principal amount

  • Pre-Termination Fee: deducted from the gross interest amount earned

  • Cancelled first half of tenure: 50% of gross interest amount earned 

  • Cancelled second half of tenure: 25% of gross interest amount earned

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