CIMB began its journey as a humble niche merchant bank and in the course of over 90 years, CIMB has mirrored the growth in ASEAN and is now among the largest financial institutions with assets totalling a net worth of over RM 437 Billion and having its presence felt in over 17 markets globally.
The fixed deposits offered by CIMB provide a safe investment venue wherein depositors can generate sizeable returns on their deposits with no risk at all. To provide these services to more customers, CIMB often releases promotional offers that provide additional benefits alongside the benefits of the standard fixed deposits. These additional benefits are usually in the form of attractive interest rates or special tenures.
Below are the promotions offered by CIMB on their fixed deposits
CIMB Fixed Deposit Promotions
Fixed deposits should not be an exception from promotional goodies and CIMB in Malaysia makes sure that they do not leave you disappointed when it comes to fixed deposit promotional offers. As of July, 2016, the following is the promotional offer available on CIMB fixed deposit schemes.
CIMB Rewards Program
The rewards program from CIMB is not restricted to the usage of their credit cards and debit cards but also other such products like fixed deposits. In this case, the amount investment, can help you earn points, which will eventually accumulate under your account and you can use it to redeem great gifts and offers.
- You have the chance to earn more points with your investment.
- Note, you naturally earn points based on the policies dictated by the bank.
- The delivery of the redeemed gifts etc are also subject to the company’s policies.
- The Members Card Catalogue includes the gifts that are redeemable.
This is an ongoing promotion and hence has no validity date mentioned, since fixed deposits can be taken for more than a year.
CIMB Bundle Offer
The first promotion is a bundle offer. The fixed deposits are bundled with higher rates and have the potential to offer bigger returns. This promotional offers allows investors to combine their fixed deposit with a choice of participating conventional equity trust funds. The funds will be split on a 50:50 basis, so any amount invested in the fixed deposit will have half the funds transferred to the equity fund. For instance if an investor deposits RM 10,000 into a fixed deposit, this offer allows him to transfer RM 10,000 to the conventional equity trust fund and the remaining RM 10,000 will remain in the conventional fixed deposit.
The bundles come in 2 options. The first option offers a bundle package with a minimum tenure of 3 months. The deposit required is RM 20,000 and the interest rate offered is 7.88% p.a. on the conventional fixed deposit
The second bundle option has a minimum tenure of 6 months with a deposit amount of Rm 20,000 and offers an interest rate of 5.88% p.a. on the conventional fixed deposit.
This promotional offer is valid from 1 October to 31 December 2015
CIMB Unfixed Deposit Promotional Offer
In this offer, individuals above the age of 18 regardless of nationality can open conventional fixed deposits with a minimum deposit of RM 1000 and the fixed deposit comes with option of auto renewal. This FD is open for those looking to open either personal or business accounts.
The available tenure options in this offer range from 1 month to 60 months and the minimum deposit is RM 1000 for all tenures except one month. The one month tenure FD requires a minimum deposit of RM 5000.
The unfixed deposit feature allows investors to make premature withdrawals but will have to maintain a minimum of RM 1000 in the deposit and this minimum amount is subject to the tenure chosen. Premature withdrawals are valid only after completion of 3 months. Withdrawals made should be in multiples of RM 1000 and the pre agreed interest rate will be applicable on the balance amount till it attains maturity. Withdrawals are allowed only at the CIMB Home Branch of the investor and cannot be made if the deposit is opened through online procedure.
Interest rates are as follows:
Deposits of Rm 5000 for 1 month earn interest rate of 3.15% p.a. More than RM 10,000 for 3 months earns interest rate of 4.1% p.a. More than RM 10,000 for 6 months earns interest rate of 4.2% p.a. More than RM 1000 for 9 months earns interest rate of 3.25% p.a. More than RM 10,000 for 12 months earns interest rate of 4.3% p.a. and more than RM 1000 for 60 months earns interest rate of 3.6% p.a.