What do I need to know about CIMB Unfixed Deposits?
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, joint accounts, business enterprises, trust executors or administrators.
You can choose a term of between one to sixty months, with as little as RM1000 to get it off the ground. For an extra short one month tenure, you must make a minimum deposit of RM5000.
If you wish reap the benefit of highest interest rates of 3.9% and 4.1% for 6 months and 12 months respectively, you can do so by depositing at least RM10,000 into your fixed deposit account. But hurry up as the promotional rate lasts until the 30 April 2017!
There is also an exclusive rate of 4.2% on a 12-month placement for CIMB Preferred customers; you only need a deposit of RM1,000 if you are new to CIMB Preferred (Islamic or conventional). For existing CIMB Preferred customers, a minimum placement of RM10,000 is required to enjoy this exceptional rate.
Can I withdraw from this fixed deposit before maturity?
You will be free to do so, with the new unfixed deposit feature, but you must maintain at least RM1000, subject to the minimum deposit needed for your chosen placement period. You need also to complete at least 3 months tenure in order to not lose any interest. Each withdrawal must be a minimum of RM1,000 and any amount higher must be in multiples of RM1,000. Your pre-agreed interest rate will be applicable on your balance until it reaches maturity.
The withdrawal can only be done at your CIMB home branch, where you placed your investment. On the other hand, if you opened this FD account through e- FD at CIMB Clicks, withdrawals are not allowed.
What do I need to open a Fixed Deposit account with CIMB?
You have to bring along your:
- Identification Card or passport
- a copy of a house utility bill for verification of address.
You'll need to bring some money too - cash or cheque is fine.
Companies must present:
- Memorandum of Association
- Form 24 & 49
- Resolution to open this account.
Is this fixed deposit secure?
PIDM protects your savings in case the bank fails - you're covered for up to RM250000.