Maybank KidSTART Saving Stars

About the programme

As part of a three-year partnership between KidSTART Singapore and Maybank Singapore, the Maybank KidSTART Saving Stars programme equips parents with financial knowledge and boosts their saving efforts through top-ups and matched deposits. 

The programme cycle runs for six months from July to December (2023 to 2025) and KidSTART families can receive up to S$780 in top-ups per programme cycle.

Details

Account Opening Duration: 1 July 2023 – 31 July 2023 

Required Documents:

  • Invitation Letter & Letter of Authorisation
  • Minimum of $10 cash for first-time deposit 
  • Child’s Original Birth Certificate
  • Parent or Legal Guardian’s Original NRIC or Passport / Employment Pass
  • Proof of Mailing Address (i.e. Utility/Telco/Bank statement with  another bank in Singapore) where name must be the same as your NRIC, Passport or Employment Pass

Frequently Asked Questions (FAQs)

How do I enrol into the Maybank KidSTART Saving Stars programme and open a Maybank account? 

The Maybank KidSTART Saving Stars programme is for KidSTART families only. If you are interested in the programme and meet the eligibility criteria*, please register online via https://go.gov.sg/starsreg. Upon successful registration within a week, you will receive an invitation letter to open the Maybank Youngstarz account by 31 July 2023 at any Maybank branch. More information about Maybank branches and locations here: maybank2u.com.sg/en/personal/about_us/Locate-Us.page

*Eligibility criteria for Maybank KidSTART Saving Stars programme:   
KidSTART families with children aged 3-6 years old  
Currently not enrolled in the Maybank KidSTART Saving Stars programme-

Can I open the Maybank account without the invitation letter? / I did not receive the invitation letter. 

You will need to bring the invitation letter when you open the account to verify that you are an eligible participant of the Maybank KidSTART Saving Stars programme. 

What if I didn’t receive the invitation letter or have misplaced it?

Please reach out to enquiry@kidstart.sg. 

Can I use an existing Maybank account for this programme? 

Eligible KidSTART families will need to open new Maybank Youngstarz accounts. However, we will assess on a case-by-case basis if they have existing Maybank Youngstarz accounts. 

Can I enrol more than 1 eligible child into this programme? 

Only 1 eligible child per family can join in this programme at a time.  For example, if a family has two children aged 4 and 5, only one child can join the programme.  

Can I enrol my child who is below 3 years old into this programme?

The programme is currently open to KidSTART children aged 3 to 6 years.  

When can I withdraw cash from the account? 

Maybank KidSTART Saving Stars programme runs for a six-month period, and you may withdraw cash from the account after the programme ends. For example, for those who are enrolled in the programme in end July 2023, you may withdraw your cash from the account in early January 2024.  

To promote regular savings habit, families who do not withdraw any cash from their accounts prior to enrolling the same child in the next  programme run six months later, they will receive an additional S$100 sign-up incentive. This amount will be deposited into their Maybank Youngstarz account tagged to the Maybank KidSTART Saving Stars programme. 

What happens when the saving programme ends?

When the programme ends, the saving account will still be opened under you and your child’s name. 

What if I withdraw money from the account but top it up again?

Any withdrawal will disqualify the family from receiving any top-ups and matched savings. 

Will I be able to stay in the programme if my child turns 7 during the programme? 

Unfortunately, the Maybank KidSTART Saving Stars programme is for KidSTART children aged 3-6.