• CIMB Bank Fixed Deposit

    CIMB Bank offers fixed deposit accounts in Singapore dollars and various other major foreign currencies. The term deposits enable you to earn interest steadily by choosing from a range tenures. Earn interest rate on conventional banking fixed deposit accounts and profit rate on Islamic banking accounts.

    Types of Fixed Deposits Offered By CIMB

    There are three time deposit products offered by CIMB:

    • CIMB SGD Fixed Deposit Account
    • CIMB Foreign Currency Fixed Deposit Account
    • CIMB Why Wait Fixed Deposit i-Account

    Features and Benefits of CIMB Fixed Deposit

    CIMB SGD Fixed Deposit Account

    • The initial deposit starts from S$1,000. For tenure of 1 or 2 months, the initial deposit starts from S$5,000.
    • The interest rate is fixed for the entire tenure.
    • The deposit tenure include 1 month, 2 months, 3 months, 6 months, 9 months, 12 months, and 24 months.
    • Once your deposit matures it will be renewed automatically for the same deposit tenure and at the prevailing rate of interest unless choose to withdraw your funds via providing the instruction to the bank.

    CIMB Foreign Currency Fixed Deposit Account

    • You can make deposits in 7 foreign currencies. The currencies available are AUD, USD, NZD, GBP, CAD, EUR, and CNH.
    • The tenures available for this deposit account are from 1 month, 3 months, 6 months, to 12 months.
    • The minimum initial deposit for all the 7 foreign currencies is 10,000 units.
    • Once your deposit matures it will be renewed automatically for the same deposit tenure and at the prevailing rate of interest unless choose to withdraw your funds via providing the instruction to the bank.

    CIMB Why Wait Fixed Deposit i-Account

    • This is a Shariah-compliant fixed deposit account which is based on the Murabahah concept to carry out the activity of deposit-taking between you and the bank.
    • The interest rate is fixed for the entire tenure and the deposit amount should be denominated in Singapore dollar.
    • You need not wait till the deposit account maturity to get your profit. Under this account, you will get your profit immediately.
    • The initial deposit starts from S$1,000. For 1 or 2 months tenure, the initial deposit starts from S$5,000.

    Fees & Charges

    CIMB SGD Fixed Deposit Account

    As said earlier, you will get interest for depositing funds with CIMB Bank and the interest rates are as follows:

    • For deposits ranging from S$1,000 to S$99,999, the board rates range from 0.2% p.a. to 1% p.a.
    • For deposits above S$100,000 the board rates range from 0.2% p.a. to 1.1% p.a.

    CIMB Why Wait Fixed Deposit i-Account

    This scheme is based on the Islamic principle of ‘Murabahah’, where you can purchase a Shariah-compliant commodity and sell it to the bank at a marked-up price. Since Islamic financial principle prohibits offering interest on depositing money, the bank will provide you profit for that commodity instead of interest. You will receive the profit upfront and you will get the principal after the maturity. The profit rates are:

    • For deposits ranging from S$1,000 to S$99,999, the board rates range from 0.2% p.a. to 0.7% p.a.
    • For deposits above S$100,000 the board rates range from 0.2% p.a. to 0.75% p.a.

    CIMB Foreign Currency Fixed Deposit Account

    The interest rates are different for different foreign currencies, the ranges are given below:

    • US dollar: 1.6075% p.a. to 2.7650%p.a.
    • Sterling Pound: 0% p.a. to 0.8950% p.a.
    • Australian dollar: 1.3575% p.a. to 2.2850% p.a.
    • New Zealand dollar: 1.4875% p.a. to 2.2850% p.a.
    • Euro dollar: Currently, you cannot earn interest for deposits in Euro.
    • Canadian dollar: 0.9150% p.a. to 2.0200%p.a.
    • Renminbi: 2.6475% p.a. to 4.0650% p.a.

    What Happens if You Withdraw FD Before Maturity

    You can withdraw the money before the maturity only with the bank’s consent. However, the bank might charge a penalty associated with it. The penalty fee will be deducted from the amount you have withdrawn. You will receive less principal amount than the deposited amount (in whichever currency you have made the deposit). Also, you may receive less interest or no interest at all. You must indemnify the bank for the losses incurred due to the premature withdrawal of your fixed deposit.

    Insurance on CIMB Fixed Deposit

    The deposits in SGD, made by depositors from non-banking sectors, under the Supplementary Retirement Scheme are protected by Singapore Deposit Insurance Corporation. The limit of this insurance is up to S$50,000 per scheme member per depositor.

    FAQs

      Q. What are the types of commodities involved?

      A. The commodities approved by Shariah Committee are allowed to be sold, such as palm oil.

      Q. Is there any particular commodity risk associated with the CIMB Why Wait Fixed Deposit i-Account?

      A. No, there is no risk involved in the selling of any commodity.

      Q. How will I receive the profit in case of CIMB Why Wait Fixed Deposit i-Account?

      A. The profit will be credited to a CIMB current/savings account (any one account of your choice). If you have done the placement by cash you will get the profit immediately. If you made the placement via cheque, you will receive the profit after the bank gets the cheque clearance.

      Q. Can I withdraw my foreign currency fixed deposit?

      A. You can withdraw it but only upon maturity. You must give 2 days prior notice in writing to the bank in this regard.

      Q. Is there any insurance coverage for foreign currency deposits?

      A. There is no insurance provided for foreign currency deposits.

    News About CIMB Fixed Deposit

    • Earn Up To 2.49% p.a. on Your CIMB Foreign Currency Term Deposit

      Invest in a CIMB foreign currency term deposit and enjoy a rate of interest of up to 2.49% p.a. in a foreign currency you prefer. You can choose a tenor of up to 12 months.

      05th January 2018

    • Higher interest rate on CIMB Singapore Dollar Islamic Fixed Deposit

      Open a CIMB SGD Why Wait Fixed Deposit-i account and get a maximum of 1.08% p.a. for the first 6 months of your chosen tenure. You can also earn a maximum of 1.18% p.a. for the first 1 year of your chosen tenure. The promotional rates are valid for deposits made by 15 September 2017.

    • CIMB SGD Fixed Deposit Promotion

      Runtime- This is an ongoing promotion that is valid from January 9, 2017 to January 20, 2017

      Particulars- Get attractive interest rates on the CIMB 6 months and 12 months SGD Fixed Deposits:

        • For placement amount of S$20,000 and above:

          • Earn an interest rate of 1.15% p.a. for a 6-month tenure.

          • Earn an interest rate of 1.25% p.a. for a 12-month tenure.

        • For placement amount of S$100,000 and above (only applicable to CIMB Preferred customers):

          • Earn an interest rate of 1.20% p.a. for a 6-month tenure.

          • Earn an interest rate of 1.30% p.a. for a 12-month tenure.

      Terms and Conditions

        • The minimum placement amount for this promotion is S$20,000.

        • For more information on this promotion or the terms and conditions, feel free to contact CIMB Bank.

    • CIMB SGD Fixed Deposit Promotion

      Runtime - This is an ongoing promotion that is valid between November 7, 2016 and November 13, 2016.

      Particulars:

        • CIMB 6 Month Why Wait Fixed Deposit –I Promotion 2016:

          • Promotion Rate for a 6 month tenure – 1.15% p.a. (The normal board rate is between 0.40% p.a. and 0.50% p.a.)

        • CIMB 12 Month Why Wait Fixed Deposit –I Promotion 2016:

          • Promotion Rate for a 12 month tenure – 1.20% p.a. (The normal board rate is between 0.70% p.a. and 0.75% p.a.)

      Terms and Conditions:

        • To qualify for this promotion, the minimum placement amount is S$5,000.

        • Deposit must be made only in Fresh Funds.

        • For further information on the promotion or the terms and conditions, feel free to contact CIMB Bank.

    • CIMB SGD Fixed Deposit Promotion

      Runtime - This is an ongoing promotional offer.

      Particulars - You can increase the savings you have with CIMB. When you sign up for a six month SGD FD scheme with CIMB Bank, you can enjoy promotional interest rate of 1.60 percent per annum. The minimum placement amount should be SGD 20,000.

      Terms and Conditions - Please, get in touch with the bank to know more about the terms and conditions this particular promotional offer.

    • CIMB Lunar Fixed Deposit Promotions

      Runtime: Ongoing Promotion

      The Lunar promotions on fixed deposits offered by CIMB bank are now open for the customers of CIMB bank. This is applicable to the individuals who make the deposits between 4th of January, 2016 and 15th of February, 2016. The customers should be opening eligible accounts and deposit a minimum of SGD 20000 for specific tenures.

      The maximum that a customer can deposit is SGD 1000000. In one particular eligible account there can be multiple number of placements. For avoiding all doubts, customers will be getting one gift for each placement that they make for every account.

    • CIMB SGD Fixed Deposit Promotionn 2016

      Runtime – This is an ongoing promotion that is valid from January 4, 2016 and up to February 15, 2016.

      Particulars -

      CIMB is offering its customers an interest rate of up to 1.80% per annum when you apply for the 12 Month SGD Fixed Deposit.

      For a placement amount of SGD 20, 000 and more the following are the interest rates offered –

        •6 months – 1.60 percent per annum

        •9 Months – 1.75 percent per annum

        •12 Months – 1.80 percent per annum

        •24 Months – 1.95 percent per annum

      For a placement amount of SGD 100, 000 and more (this is only applicable to CIMB Preferred Customers) the following are the interest rates offered –

        •6 months – 1.65 percent per annum

        •9 Months – 1.80 percent per annum

        •12 Months – 1.85 percent per annum

        •24 Months – 2.00 percent per annum

      Terms and Conditions

        •The aforementioned rates are subject to change without prior notice.

        •The minimum deposit amount per placement for the SGD Fixed Deposit is SGD 20, 000 and the maximum deposit amount per placement is SGD 1, 000, 000.

        •For more information on the CIMB SGD Fixed Deposit Promotion or further details on the terms and conditions, please contact CIMB bank.

    • CIMB SGD 12 Month Why Wait Fixed Deposit-i Promotion 2016

      Runtime – This is an ongoing promotion that is valid from now and until February 15, 2016.

      Particulars –

        •When you apply for the 12 Months Fixed Deposit, you will enjoy cash upfront of up to 1.80% per annum.

        •For a fresh funds deposit ranging between SGD 1000 and up to SGD 20, 000 you will enjoy the following promotional / Effective Profit Rate –

          •6 Month Tenure – Board Rate

          •12 Month Tenure – 1.20 percent per annum

        •For a fresh funds deposit of SGD 20, 000 and above you will enjoy the following promotional / Effective Profit Rate –

          •6 Month Tenure – 1.60 percent per annum

          •12 Month Tenure – 1.80 percent per annum

        •For a fresh funds deposit of SGD 100, 000 and above (this is only applicable for CIMB Preferred Customers), you will enjoy the following promotional / Effective Profit Rate –

          •6 Month Tenure – 1.65 percent per annum

          •12 Month Tenure – 1.85 percent per annum

      Terms and Conditions

        •The minimum qualifying amount for this promotion is SGD 1000 per placement and the maximum qualifying amount is SGD 1, 000, 000 per placement.

        •This promotion is applicable on all eligible accounts opened with CIMB Bank Berhad, Singapore Branch only (CIMB Bank).

        •For further details on this promotion or for more information on the terms and conditions, feel free to contact CIMB bank.

    • CIMB 12 Months SGD Fixed Deposit Promotion

      Runtime: Till 31 Dec, 2015

      Particulars: Enjoy higher interest rates with CIMB SGD 12-Month Why Wait Fixed Deposit. The interest rates offered are as follows:

        • For a deposit amount of less than SGD 10,000, you will enjoy a promotional interest rate of 1.20 percent per annum.

        • For a deposit amount of SGD 10,000 or more, you will enjoy a promotional interest rate of 1.80 percent per annum.

        • For a deposit amount of SGD 10,000 or more, you will enjoy a promotional interest rate of 1.85 percent per annum in case you are a preferred customer of CIMB Bank.

      Apart from the attractive interest rates, you will also enjoy Takaful Personal Accident for free (with Cash Benefit for Hospital) when you deposit fresh funds and sign up for this deposit scheme. You will also enjoy instant Sure-Win prizes which include a tablet from Samsung, a Vacuum cleaner from Dyson Handheld, a Coffee Maker from Krups, vouchers and many more.

      Please contact CIMB bank to know about applicable terms and conditions.

    • SBC Fintech – CIMB Partnership

      2016 applications for Startupbootcamp FinTech Singapore are now open. On October 8th, 2015, in The Working Capital, SBC Fintech announced their partnership with CIMB. They have also announced a tour of the Asia Pacific (APAC) which will be a fast track tour.

      The fast track tour will include high profile locations such as Mumbai, Manila, Seoul and Sydney to name a few, with an intention of rooting themselves in FinTech ecosystems all across the APAC region and share insights on financial innovation. The tour will also be a scouting ground for the FinTech startups programme in 2016.

      The partnership with CIMB Group is part of their regional expansion as CIMB is a Malaysia Banking Conglomerate. The fast track tour is spanned across 14 cities in APAC, which will serve as a platform for startups to pitch their ideas to the experts in the financial industry, at the same time receive individual advice on their business model and market strategy. Their accelerator programme will give an opportunity to start ups to speed up their ventures and Fintech to support the regional FinTech ecosystems.

      10 best Singapore based FinTech startups will be rewarded with $17,000, that will cover their office space and living expenses for a minimum of 3 months at their accelerator hub, BASH at One-North, a startup cluster in Singapore. Additionally, they will be also be mentored and be given access to the network of investors and various other financial resources from the industry.

      08th October 2015

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    Fixed Deposit Promotion by Banks
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