CIMB was launched by (then Prime Minister) Tun Abdul Razak in 1974 as Pertanian Sanwa Multinational Bank. In 1986, it was acquired by Bank of Commerce and renamed Commerce International Merchant Bankers Berhad. CIMB is one of the preferred banks by millions of Malaysians as they offer a wide range of financial services, from insurance/ takaful to financing and investments.
What is a fixed deposit?
A fixed deposit (FD) is a great way to save money for a specific period. With high rates and complete safety from withdrawal, this investment type offers new investors great opportunities in return on their investments!
What should I know before applying for fixed deposits?
Interest rates
You should know the interest rates upon maturity to ensure you gain a great amount of return. Interest rates differ from bank to bank and tenure to tenure.
Tenure
Different banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.
Hidden fees
It is crucial to identify all costs incurred to avoid spending more than expected.
Penalty
You should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.
Banks
Being aware of the customer service and the reputation of the bank you are planning to apply your fixed deposit account is an important step! Do thorough research before deciding on a bank.
What are the types of fixed deposits offered by CIMB?
CIMB offers 1 type of fixed deposit, which is Unfixed Deposit™. The Islamic equivalent is also available here.
Who can apply for Unfixed Deposit™?
You are eligible to apply for Unfixed Deposit™ if you are at least 18 years old.
Why should I choose Unfixed Deposit™?
Among other reasons, you should choose Unfixed Deposit™ because:
Flexible tenure (1 to 60 months)
Protection by PIDM (up to RM250,000)
Partial withdrawal is available
Automatic renewal
Interim interest will be credited every 6 months (12 months tenure and above)
What are the documents required to apply for Unfixed Deposit™?
The documents needed to apply for Unfixed Deposit™ are as follows:
Identification card (MyKad)/ passport
A copy of the utility bill
What is the tenure of Unfixed Deposit™?
1 to 60 months.
What is the minimum amount to deposit into Unfixed Deposit™?
1 month: RM5,000
2 months and above: RM1,000
What are the fees for Unfixed Deposit™?
Interest rates
It depends on your tenure (*1.5% – 2.1% p.a.)
Reproduction of statements:
Within 1 year **RM10 upfront + RM2 per page | After 1 year: **RM20 upfront + RM2 per page
To learn more about the interest rates, click here.
*As of 25 March 2022 **Inclusive of taxes
What happens if I withdraw my money before maturity?
If you place your deposit or renew after 1 November 2018, no interest will be paid to you. For partial withdrawal, only multiples of RM1,000 are allowed if you maintain the minimum deposit amount in your account.
How do I contact CIMB for further information about Unfixed Deposit™?
