How much can I borrow when I use CIMB Share Margin Financing?
CIMB will provide a margin of financing of up to 60%, or a maximum amount of RM5 million, to leverage the collateral you have placed into your CIMB share margin account. In order to open a share margin account with CIMB, you need to pay an account opening fee of RM10.60 inclusive of GST.
Besides that, you are also subject to a documentation fee of RM74.20 inclusive of GST. Good thing is, this charge can be waived in the event of redemption.
Can I choose my own broker?
You will be unable to do so; CIMB will appoint a remisier from their own panel of approved brokers.
What can be accepted as collateral?
CIMB will accept the following:
|Cash||2 - 2.5 times|
|Fixed Deposit||2 - 2.5 times|
|Quoted Shares||1 - 1.5 times|
You can leverage your cash or fixed deposit up to a credit limit of 2 to 2.5 times, and quoted shares from 1 to 1.5 times above the amount you've deposited.
What are my ongoing commitments?
Like any other loan, you will have to pay interest on your borrowing, which is pegged to the BLR. If there are fluctuations in the BLR, your interest payments will change accordingly.
Is there a cash advance option for this product?
Unfortunately, no, there isn't. You will not be able to withdraw additional funds against your share margin account.
I am a foreigner who is staying in Malaysia, am I eligible to use this product?
Yes, most certainly are! Any Malaysian or non-Malaysian residing in the country who is at least 21 years of age can apply for a share margin account.
If you fit all of the above criteria go ahead and gather the documents listed below:
- NRIC(both sides)
- Recent BE/EA/2 months payslip
- Latest bank statement
- Redemption cases: Furnish the latest margin account statement from your existing financier