Maybank has enabled a new feature that allows its individual and sole proprietor accountholders to set up automatic recurring self-contributions to the Employees Provident Fund (EPF) on a monthly basis.
In its notice, the bank said that the new recurring EPF contribution feature is currently accessible only on the Maybank2u website, but will soon be made available on the MAE by Maybank2u app in the future.
Meanwhile, those who wish to set up automatic recurring EPF contributions now can do so by following these steps after logging into their Maybank2u account on the bank’s website:
Maybank has also shared some screenshots of the process to guide you along the way:
The feature has already been made live, and you can tap into it at any time that is convenient to you. With this, it will be easier for EPF members who are self-employed or do not earn a regular income to make voluntary contributions towards their retirement (under the i-Saraan scheme). To note, Finance Minister Tengku Datuk Seri Zafrul recently noted that the number of voluntary contributors under the i-Saraan scheme has risen by 77% in the first quarter of 2022.