What do I need to know about CIMB Fixed Deposit?
This CIMB FD is open to individuals aged 18 and over, whether they are Malaysian or foreigners residing or not residing in Malaysia.
The offer is open for those wishing to open personal accounts and joint accounts.
You can choose a term of between 1 to 60 months, with as little as RM1,000 to get it off the ground.
For an extra short one-month tenure, you must make a minimum deposit of RM5,000.
Can I withdraw from this fixed deposit before maturity?
Withdrawals are permitted in amounts of RM1,000 or more and must be made in multiples of RM1,000, under the same account number. This applies to all new and renewed Fixed Deposit accounts effective from 18 January 2015 onward.
Interest eligibility depends on the placement or renewal date:
1. FD placed or renewed on or after 1 November 2018:
- No interest will be paid on any early withdrawal (full or partial).
2. FD placed or renewed before 1 November 2018:
a. Tenure of 1 to 3 months
- No interest will be paid on any early withdrawal.
b. Tenure of 4 months or more
- Withdrawal before 3 months: No interest will be paid.
- Withdrawal after 3 months: 50% of the contracted interest rate will be paid for each completed month on the withdrawn amount.
For partial withdrawals, interest at the contracted rate will still be paid on the remaining balance.
What do I need to open a Fixed Deposit account with CIMB?
You have to bring your Identification Card or passport, along with a minimum deposit of RM5,000 for a 1-month tenure or RM1,000 for tenures ranging from 2 to 60 months.
Is my money in CIMB Fixed Deposit safe?
Yes. PIDM protects your savings in case the bank fails - you're covered for up to RM250,000.
