Financial News and Advice in Singapore

Maybank Family & Friends Review: 8% Cashback On Your Favourite Categories

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If you fancy the idea of earning 8% cashback on your key spending categories, consider acquiring the Maybank Family & Friends Card. Yes, you can pick your own bonus cashback categories!

The recently revamped Maybank Family & Friends Card is more flexible and generous than ever. Aside from letting you chalk up a maximum of S$125 in cashback each month, you get to pick your own bonus 8% cashback categories. The customisation doesn’t stop there — you can select your favourite card design when you apply for this Maybank credit card as a new cardmember, too. 

What the Maybank Family & Friends Card can do for you 

Maybank Family & Friends card product summary: 

  • Highest Cashback Rate: 8%
  • Minimum Monthly spend: S$800
  • Income requirement: S$30,000 (Singaporeans/PR), S$45,000 (Malaysians), S$60,000 (Other foreigners)
  • Minimum age: 21
  • Annual fee: S$180 (first three years waived)
ProsCons
Can pick preferred 8% cashback categories S$25 monthly cashback cap for each bonus category
8% cashback categories can be changed annually0.3% cashback on all other spend
Up to S$125 cashback per calendar month0.3% cashback on all spends below S$800
3-year annual fee waiver

Why should you choose the Maybank Family & Friends Card?

# 1 You can pick your own preferred 8% cashback categories

Besides letting you select your own preferred card design (three options available), you can also customise and choose your preferred 8% cashback categories (five out of eight options) according to your unique spending habits. 

This flexibility is great for those looking to maximise the amount of cashback they can milk from their expenses. These 8% cashback categories can be changed annually, too.  

The bonus categories include: 

  • Groceries 
  • Dining & food delivery 
  • Transport 
  • Data communication & online TV streaming
  • Retail & pets 
  • Online fashion 
  • Entertainment
  • Pharmacy & wellness 

#2 You can earn up to S$125 cashback per calendar month 

While the monthly S$125 cashback cap is more generous than what other competing cashback credit cards are offering, keep in mind this cap is split equally across your five chosen bonus 8% cashback categories. A S$25 monthly cashback cap applies to each bonus category.

To maximise your cashback, you should be spending at most S$312.50 on each of your chosen 8% cashback category. 

#3 Your average monthly credit card spend is above S$800

If you find yourself spending over S$800 every month across various categories, you might want to consolidate your spending and charge them to the Maybank Family & Friends Card to take advantage of the 8% cashback you could earn on your purchases. 

To earn 8% cashback equivalent to a maximum of S$125 each calendar month, you’ll have to spend a minimum of S$800 a month. 

Tip: Take a good look at your monthly expenses — do your homework and see if this credit card could be a good fit for your lifestyle. 

#4 Generous 3-year annual fee waiver

This might surprise you but most credit cards only offer an annual fee waiver for the first year. Maybank Family & Friends Card lets you enjoy the card’s benefits at no additional cost in your first three years. You can get free supplementary cards, too. 


Welcome Offer: From now till 30 June 2021, get S$100 cash credit when you apply for one of seven participating Maybank credit cards (for new Maybank cardmembers only) and a CreditAble account. 

To earn this reward, you will have to make a min. spend or withdrawal of S$250 for the first two consecutive months upon card approval. Terms and Conditions apply.

For whom is the Maybank Family & Friends Card best suited?

Maybank Family & Friends Card is a generous cashback credit card designed for people who: 

(i) spend at least S$800 monthly

(ii) fancy the idea of earning 8% cashback on their preferred categories

(iii) routinely spend an almost equal amount of money on their chosen 8% cashback categories

Although cardmembers who want to maximise their cashback every month should keep a watchful eye on their expenses, they will appreciate the fact that Maybank has made tracking easy for all — simply access the ‘Benefit Optimiser’ feature in the bank’s TREATS SG digibank app. 

What charges or fees should you look out for?

  • Annual fee: S$180 (first three years waived) 
  • Late payment charge: S$80 or 5% of the minimum payment due, whichever is higher
  • Minimum monthly payment: 3% of outstanding balance or S$20, whichever is higher, plus any overdue amounts 
  • Interest on purchases: 25.9% per annum subjected to compounding if full payment is not made by payment due date
  • Interest on cash advance: 25.9% per annum compounded daily on the amount withdrawn from the transaction date until the date that full payment is made

Eligibility criteria

  • At least 21 years of age
  • Minimum annual income for Singapore citizens and PRs: S$30,000 
  • Minimum annual income for other foreigners: S$45,000 (Malaysians)
  • Minimum annual income for other foreigners: S$60,000 

How to apply? 

Click on the ‘Apply Now’ button on this page and complete the application form on SingSaver site. You might need to prepare the following documents for the application process:

  • Front and back of NRIC/Passport/Employment Pass
  • Salaried employees: Past 12 months CPF statement (Singaporean/PR) or latest Income Tax Notice of Assessment and latest original computerised payslip
  • Self-employed: Latest Income Tax Notice of Assessment and latest original computerised payslip

Welcome Offer: From now till 30 June 2021, get S$100 cash credit when you apply for one of seven participating Maybank credit cards (for new Maybank cardmembers only) and a CreditAble account. 

To earn this reward, you will have to make a min. spend or withdrawal of S$250 for the first two consecutive months upon card approval. Terms and Conditions apply.

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