• CIMB Credit Line Secured Overdraft

    Personal Loan

    CIMB offers Credit Line Secured Overdraft facility that allows you to withdraw additional funds from your current account when required. This facility is quick and convenient. The customers will have to pledge a collateral which is acceptable to the bank.

    Features and benefits of CIMB Credit Line Secured Overdraft

    The following are the various features and benefits of CIMB Credit Line Secured Overdraft:

    • This facility accepts a wide range of collateral. The bank accepts CIMB Fixed Deposits, CIMB Structured Product, CIMB Unit Trust, Floating Rate Negotiable Instruments of Deposit, Negotiable Instruments of Deposit – Islamic, Negotiable Instruments of Deposit, ASN, ASW 2020, ASB, and Acceptable External Unit Trust.
    • The cash withdrawal is flexible. You can withdraw through cheque book, CIMB Bank branch, or at any ATM.
    • There is no fixed monthly repayment. The interest is charged on the utilized amount only. The monthly interest and principal amount can be settled at any time.
    • A guarantor is not required to avail this facility.

    Eligibility Criteria

    You will have to meet the following eligibility criteria to avail CIMB Credit Line Secured Overdraft:

    • Minimum age requirement is 21 years.
    • The maximum age requirement is 70 years.
    • The minimum collateral required is RM10,000.
    • You must be Malaysian or Non-resident of Malaysia with PR status.
    • You must reside in Malaysia.

    Interest Rate of CIMB Credit Line Secured Overdraft

    The following are the interest rates for this facility:

    Type of overdraft security Segment Interest rate
    Personal overdraft secured by multiple collaterals Preferred or Prime banking Base rate + 1.35%
    Personal overdraft secured by fixed deposit Preferred, Mass market, Prime banking, or Private banking Base rate + 0.85%
    Personal overdraft secured by ASNB product Mass market, Preferred, Prime banking, or Private banking Base rate + 1.35%

    The base rate is 3.9% per annum.

    Documents Required

    You will have to submit the following documents along with the application form at the nearest CIMB Bank branch:

    • Original copy of collateral.
    • Photocopy of NRIC.
    • 6 months latest bank statement, if you are self-employed.
    • Latest 3 months’ payslip, BE Form, B Form, or EA Form.

    The bank will reserve the right to request for additional documents if needed.

    Fees and Charges

    Following are the applicable fees and charges:

    Product Items and Charges
    Overdraft facility secured with FD placed with CIMB 3rd party Memorandum of Deposit – Stamping RM10
    Letter of Offer – Stamping RM10
    Overdraft facility secured with Term Deposit placed with CIMB 3rd party Memorandum of Deposit – Stamping RM10
    Letter of Offer – Stamping RM10
    Notice of Assignment and Charge - Stamping RM10
    Overdraft facility secured against ASB, ASW2020, or ASN Letter of Offer – Stamping RM10
    Documentation fee RM106 (inclusive of GST)
    3rd party Memorandum of Deposit – Stamping RM10

    Other fees

    Commitment fee 1% p.a. is charged for the unutilised portion of this facility.
    Excess of limit 6.35% above base rate per annum is charged subject to a maximum of RM5 on the amount in excess of approval limit.

    CIMB Hotline for Credit Line Secured Overdraft

    You can contact CIMB through:

    • Telephone: +603 6204 7788
    • Fax: +603 2691 3248
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