CIMB Fixed Deposit

About CIMB

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™?

You can contact CIMB through these channels:

• Phone: 03-6204 7788
• Online form: Visit here
• Email: cru@cimb.com
• Branch visit: Click here to locate the nearest branch
• CIMB Clicks: Message us via the app or click here
• Write a letter to: Customer Resolution Unit (CRU) P.O. Box 10338 GPO Kuala Lumpur 50710 WP Kuala Lumpur

What are the common terms of fixed deposit?

• “p.a.”

  It stands for per annum or each year.

• “Interest rate”

  The amount of return earned by depositors.

• “Tenure”

  The amount of time the money is locked in a fixed deposit account.

• “Deposit”

  The amount of money locked in a fixed deposit account to earn interest.

• “Penalty”

  The additional charge from the bank for withdrawals before maturity (or premature withdrawal).

• “Maturity”

  The end of a set time when an investment becomes due, and the principal and interest are repaid.

• “Premature withdrawal”

  The money withdrawal in a fixed deposit account before maturity.

• “Partial withdrawal”

  The withdrawal of part of the amount in a fixed deposit account before maturity.