Maybank Singapore has launched fixed deposit services for Central Provident Fund (CPF) Ordinary Account (OA) funds, offering a 2.9% annual rate for a minimum 12-month placement of SGD20,000 (USD14,855). This move makes Maybank the first foreign bank in Singapore to provide such services, alongside three local banks: OCBC, DBS, and UOB. CPF members, to utilise this service, must meet certain account balance requirements. OCBC, another authorised bank, offers a higher digital transfer rate for similar deposits. However, UOB and DBS do not provide fixed deposit options for OA funds, focusing instead on other investment products. CPF members using these services need an investment account and will earn a base interest rate on these accounts.