CIMB Bank has come up with a promotion where you can get better returns on the amount you invest in a fixed deposit account. The promotion states that you can make partial withdrawals at any time while the balance in the deposit account will earn you the promotional interest rates. Read on to know more about the promotional offer.
CIMB Bank Fixed Deposit Promotion Mechanics
The promotion provides high returns of up to 4.30% p.a. when you place a minimum amount of RM10,000 in a Fixed Deposit (FD), Fixed Return Income Account-i, Maturity Returns (FRIA-i), or Monthly Returns and Fixed Return Income Account-i. The deposit must be placed for a period of 12 months to get the benefits of the promotion.
The table below provides a summary of the promotion:
|Minimum Deposit Amount||Deposit Tenure||Promotional Rate|
|RM10,000||12 months||4.30% p.a.|
Fixed Deposit Promotion Start & End Date
The promotional offer began on 1 July 2018 and is available until 30 September 2018.
FD Promotion Terms & Conditions
- The deposit placement must be made over the counter at a branch office.
- The deposit amount must be in fresh funds.
- The promotional rates are applicable only to one cycle.
- Upon maturity, the deposit account will be automatically renewed for another cycle of 12 months. The prevailing FD board rates will be applicable upon renewal.
Hurry and open a valid fixed deposit account to reap the benefits of the promotion. Don’t forget to note the end date of the promotion. Go through the fine print carefully to avoid any confusion.
Q. Who is eligible to get the benefits of the promotion?
A. The following groups of people are eligible to get the benefits of the promotion:
- Individuals above the age of 18 years; joint account holders and minor trust account holders are also eligible.
- Small and medium enterprises.
- Enterprise banking.
- Commercial banking customers.
Q. Can I place the deposit online?
A. You will not receive the benefits of the promotion if you place the deposit online.
Q. I am an employee of CIMB Group. Am I eligible to get the benefits of the promotion?
A. No. Employees of CIMB Group and their immediate family members are not eligible to get the benefits of the promotion.
Q. Is the interest paid out every month?
A. No. The interest is paid upon the maturity of the fixed deposit.
Q. How can I access the interest paid?
A. The interest will be credited to the designated current/savings account/-i maintained with CIMB Bank.
Q. What happens if I withdraw or uplift the deposit amount before maturity?
A. If you make an early or partial withdrawal, one of the following may hold good:
- Deposit Placement before 1 September 2018:
- If you withdraw/uplift before the completion of 3 months, you will not get any returns.
- If you withdraw/uplift from the fourth month onwards but before maturity, you will receive half of the specified interest.
- Deposit Placement after 1 September 2018:
If you withdraw/uplift before the maturity, you will not receive any returns from the deposit account.