• CIMB Islamic Fixed Deposit Rates

    CIMB Islamic Fixed Deposit

    CIMB Islamic Bank Fixed Deposits

    CIMB Islamic Bank is one of the main arms of the CIMB Group and is among the leading ASEAN banks in the region with a presence in 17 countries. The bank specially focuses on Islamic Banking concepts, products, and solutions, of which their fixed deposit schemes are among the most popular banking products among customers due to their potential to substantially grow the customer’s money over a period of time.

    Features and Benefits of CIMB Islamic Fixed Deposits

    CIMB Islamic Fixed Deposits come with a range of features and benefits such as:

    • High Returns - Customers who avail of these fixed deposit schemes can grow their money at a substantial rate over a period of time
    • Flexibility - CIMB Islamic Fixed Deposits offer customers flexibility when it comes to choosing the tenure of their deposit. Customers can choose tenures based on their financial position and requirements.
    • High Interest Rate - CIMB Islamic Fixed Deposits offer customers the added attraction of high interest rates, which are both reasonable as well as competitive in comparison with the rest of the market.
    • Fixed Profit Rate - Customers can receive profits at a fixed profit rate that is determined at the commencement of the fixed deposit
    • Investment Tools - Customers can choose among a number of investment tools through which they can acquire higher returns on their savings

    Types of CIMB Islamic Fixed Deposits

    Customers looking to bank with CIMB can apply for any of the following CIMB Islamic Fixed Deposits as per their needs and requirements:

    Customers looking to bank with CIMB can apply for any of the following CIMB Islamic Fixed Deposits as per their needs and requirements:
    • Unfixed Deposit

      The Unfixed Deposit is best suited for customers who wish to make safe and secure deposits for a certain amount of time with the added benefit of earning substantial returns on their savings. This deposit allows the account holder to make withdrawals multiple times prior to the date of maturity.

    • Features and Benefits of Unfixed Deposit

      • Customers can make multiple withdrawals in multiples of RM 1,000 prior to maturity
      • The balance left over after making withdrawals will continue to attract a longer term FD rate
      • Customers can choose from loan tenures ranging from 1 month to 60 months
      • Offers customers the flexibility of freeing up cash in the event of unexpected expenditure

      Eligibility and Requirement Criteria

      • Applicants must be at least 18 years of age or above
      • The following entities are eligible to apply for this scheme:
        • Malaysian Residents
        • Non-residents
        • Businesses with operations in Malaysia
        • Administrators
        • Executors
      • Customers can also open joint accounts under this scheme
      • The minimum required deposit is:
        • Deposits for a tenure of 1 month - RM 5,000
        • Deposits for a tenure of 2 months or more - RM 1,000

      Interest Rates

      Based on the tenure chosen customers can avail on interest rates that range from 3.10% per annum to 3.50% per annum. For example Tier 1 deposits can earn 3.30% for a tenure of 12 months while Tier 2 deposits can earn 3.20% for the same tenure.

    • Foreign Currency Fixed Deposit

      This type of fixed deposit is best suited for customers who are looking to make deposits in foreign currency, while enjoying possible higher rates of interest.

    • Features and Benefits of Foreign Currency Fixed Deposit

      • The tenure of the deposit can be as short as 24 hours
      • This type of fixed deposit helps customers protect their foreign currency deposits against any fluctuations in the future
      • Deposits can be made in a number of different foreign currencies such as US Dollar, Sterling Pound, Euro etc
      • Customers can easily make foreign transactions on a daily basis

      Eligibility and Requirement Criteria

      • Applicants must be at least 18 years of age or above
      • The following entities are eligible to apply for this scheme:
        • Malaysian Residents
        • Non-residents
        • Businesses with operations in Malaysia
        • Administrators
        • Executors
      • Customers can also open joint accounts under this scheme
      • The minimum required deposit is foreign currency equal to RM 10,000

      Interest Rates

      Interest rates vary based on the tenure and currency chosen by the customer. For example US Dollar deposits with a tenure of 12 months earn interest of 1.05%, while deposits in Australian Dollar earn 2.60% for the same period.

    • Fixed Return Income Account-i (FRIA-i)

      The Why Wait fixed deposit is based on the Tawarruq and Murabahah principles in connection with Commodity Murabahah wherein the profit rates are fixed and are determined beforehand, with cash paid upfront.

    • Features and Benefits of Fixed Return Income Account-i (FRIA-i) – Why Wait

      • This type of fixed deposit offers customers the flexibility of choosing the period of maturity from 1, 2 or 3 months
      • Customers can enjoy a constant stream of profits since the profit rate is predetermined
      • This fixed deposit offers customers the highest rate of profit, which in turn leads to maximisation of returns
      • Partial withdrawals are not allowed under this scheme

      Eligibility and Requirement Criteria

      • Applicants must be at least 18 years of age or above
      • The following entities are eligible to apply for this scheme:
        • Malaysian Residents
        • Non-residents
        • Firms
        • Associations
        • Clubs
        • Companies
        • Societies
      • A minimum deposit of RM 10,000 is required for tenures of 1,2 or 3 months. Increments in the deposit amount will be required to be in multiples of RM 1,000

      Profit Rates

      Tenure Board Rate
      1 month 3.15%
      2 months 3.15%
      3 months 3.20%
    • Fixed Return Income Account-i (FRIA-i) – Monthly Returns

      With this type of fixed deposits customers need not wait until the date of maturity. Customers can receive profits every month over tenures that go up to 60 months at a fixed rate of profit that is determined beforehand.

    • Features and Benefits of Fixed Return Income Account-i (FRIA-i) – Monthly Returns

      • The deposit is 100% Shariah compliant
      • Customers can choose maturity periods of 12, 15, 18, 21, 24, 36, 48 or 60 months
      • The deposit offers customers a chance to maximise their returns on their savings
      • Customers can make withdrawals in multiples of RM 1,000 should they require cash for unexpected expenditure

      Eligibility and Requirement Criteria

      • Applicants must be at least 18 years of age or above
      • The following entities are eligible to apply for this scheme:
        • Malaysian Residents
        • Non-residents
        • Firms
        • Associations
        • Clubs
        • Companies
        • Societies

      Profit Rates

      Tenure Board Rate
      12-month 3.30%
      15-month 3.30%
      18-month 3.30%
      21month 3.30%
      24-month 3.30%
      36-month 3.40%
      48-month 3.50%
      60-month 3.60%
    • Fixed Return Income Account-i (FRIA-i) – Maturity Returns

      Under this fixed deposit scheme, customers can receive profit in the form of a lump sum at the time of maturity or at the end of every 6 months, if the tenure chosen is more than 12 months in duration.

    • Features and Benefits of Fixed Return Income Account-i (FRIA-i) – Maturity Returns

      • The deposit is 100% Shariah compliant
      • Customers have the flexibility to choose between tenures ranging from 1 month to 60 months
      • Profit rates are determined and fixed beforehand
      • The deposit offers customers a chance to maximise their returns on their savings
      • Customers can make withdrawals in multiples of RM 1,000 should they require cash for unexpected expenditure

      Eligibility and Requirement Criteria

      • Applicants must be at least 18 years of age or above
      • The following entities are eligible to apply for this scheme:
        • Malaysian Residents
        • Non-residents
        • Firms
        • Associations
        • Clubs
        • Companies
        • Societies

      Profit Rates

      Tenure Board Rate
      1 month 3.15%
      2 months 3.15%
      3 months 3.20%
      4 months 3.20%
      5 months 3.25%
      6 months 3.25%
      7 months 3.25%
      8 months 3.25%
      9 months 3.25%
      10 months 3.25%
      11 months 3.25%
      12 months 3.30%
      13-14 months 3.30%
      15-23 months 3.30%
      24-35 months 3.30%
      36-47 months 3.40%
      48-59 months 3.50%
      60 months 3.60%
    • Foreign Currency Fixed Return Income Account-i

      Under this fixed deposit scheme, customers can procure high rates of profits on deposits made in a foreign currencies. These rates of profit are based on the rates of profit of the country that the foreign currency belongs to and all profits are paid on the date of maturity.

    • Features and Benefits of Foreign Currency Fixed Return Income Account-i

      • Deposits can be made in specific currencies such US Dollar, Euro, Pound or Australian Dollar
      • All deposits and withdrawals can be made via the customer’s Ringgit account or Foreign Currency Current Account-i
      • Customers will receive an acknowledgement letter from CIMB Islamic

      Eligibility and Requirement Criteria

      • Applicants must be at least 18 years of age or above
      • The following entities are eligible to apply for this scheme:
        • Malaysian Residents
        • Non-residents
        • Businesses with operations in Malaysia
      • Applicants must provide their NIRC or Passport
      • Business organisations must provide the company M & A, Form 24 and 49, and Company resolution.

      Profit Rates

      Profit rates vary depending on the type of foreign currency the deposit is made in. For example deposits made in US Dollar for 12 months will attract a profit rate of 1.05%, while deposits in Australian Dollar for the same period will attract a profit rate of 2.60%

    • Big 50 for 50 Plus

      This fixed deposit scheme offers customers attractive and competitive interest rates as well as provides them with the flexibility to have their interest credited every month to their savings account.

    • Features and Benefits of Big 50 for 50 Plus

      • Customers earn interest every month
      • Customers can make partial withdrawals of a minimum of RM 5,000
      • Customers can earn bonus interest of up to 1% per annum on their Senior Savings Account
      • The account can be accessed all over the country making it easy and convenient for customers

      Eligibility and Requirement Criteria

      • Applicants must be at least 50 years of age or above
      • In case of a joint account, the primary holder must be at least 50 years of age or above
      • Minimum deposit of RM 30,000 is required
      • Identity card
      • Passports or Work Permits for foreign residents

      FAQs For CIMB Islamic Fixed Deposits

      Are deposits made with CIMB Islamic safe and secure?

      Yes. All CIMB Islamic Fixed Deposits are protected by PIDM, which protects the customer’s money in the event of a financial collapse.

      Will a statement or acknowledgement be issued for the amount deposited into these fixed deposits?

      Yes. All customers who open fixed deposits with CIMB Islamic will receive a certificate concerning the deposits made into the fixed deposit accounts.

      Can this certificate be used to secure any other loans?

      Yes. The fixed deposit certificate issued by the bank can be used as a pledge against any other type of loan such as a personal loan, car loan, home loan and much more.

      Other Products offered by CIMB Islamic:

      Apart from offering Fixed Deposit,CIMB Islamic offers other products and services which include:

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