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.
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!
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.
Different banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.
It is crucial to identify all costs incurred to avoid spending more than expected.
You should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.
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.
CIMB offers 1 type of fixed deposit, which is Unfixed Deposit™. The Islamic equivalent is also available here.
You are eligible to apply for Unfixed Deposit™ if you are at least 18 years old.
Among other reasons, you should choose Unfixed Deposit™ because:
The documents needed to apply for Unfixed Deposit™ are as follows:
1 to 60 months.
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
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.
You can contact CIMB through these channels:
It stands for per annum or each year.
The amount of return earned by depositors.
The amount of time the money is locked in a fixed deposit account.
The amount of money locked in a fixed deposit account to earn interest.
The additional charge from the bank for withdrawals before maturity (or premature withdrawal).
The end of a set time when an investment becomes due, and the principal and interest are repaid.
The money withdrawal in a fixed deposit account before maturity.
The withdrawal of part of the amount in a fixed deposit account before maturity.