Maybank has launched its Family and Friends Platinum MasterCard in Singapore, the first card in the country to offer a 5% cash rebate for a range of transactions across Singapore and Malaysia.

The 5% cash rebate is offered when spending at a range of merchants, including health supplement chains, major pharmacies, petrol stations and hypermarkets. In addition to this, the card awards reward points for card spend that is not within the categories that are entitled to cash rebates, unlike similar cards in the market.

Other features of the card include no annual fee for the first two years and a special promotional interest rate of 12% per annum for the first six months.

Helen Neo, head of consumer banking at Maybank Singapore, said: We have already issued 3,000 Maybank Family and Friends Platinum MasterCard cards within the first week of launch. Customers gave positive feedback on the cash rebate feature and the novelty card design, as it is the first credit card in Singapore to feature the lenticular effect.