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Millions of people around the world choose fixed deposits each day as one the safest forms of investing their money. You could do the same and multiply your savings with the CIMB Bank’s range of fixed deposits. Currently the bank offers 4 products under their fixed deposit umbrella which are CIMB SGD Fixed Deposits Account, CIMB Foreign Currency Fixed Deposit Account, CIMB SGD Step Up Fixed Deposit and the CIMB Bank Why Wait Fixed Deposit i-Account.
Overview of CIMB Bank
The Commerce International Merchant Bankers Group, also known as CIMB Group, is a Kuala Lumpur based banking organization. Being the largest investment bank based in the Asia-Pacific region, the CIMB Group currently runs operations in 18 countries, including the high-growth ASEAN countries like Singapore, Malaysia, Thailand and Indonesia.
CIMB Bank represents the consumer and corporate banking arm of the CIMB Group which operates in Malaysia, Singapore, Thailand and Indonesia. The bank currently offers multiple products like loans, accounts, cards, investments, insurance, wealth management, deposits, credit facilities and more under personal and commercial banking.
Why choose CIMB Bank Fixed Deposits?
CIMB Bank offers multiple fixed deposit schemes to cater to the specific needs of customers. The interest rate offered on the fixed deposit amount is high as well. Besides, the customers can open a fixed deposit account with CIMB Bank without having to deposit a huge sum of money. In fact, the minimum initial deposit amount can be as low as S$1,000. Opening a fixed deposit account with CIMB Bank can be very beneficial to the customers.
CIMB Bank Fixed Deposit Schemes in Singapore
In Singapore, CIMB Bank offers 4 different types of fixed deposit schemes which are listed below.
| Check For CIMB Fixed Deposit Promotions |
CIMB SGD Fixed Deposits Account
The CIMB SGD Fixed Deposits Account gives you the benefit of maximizing your savings as it allows you to put away a fixed amount of money for a fixed period of time at attractive rates of interest.
Features and Benefits
- You can open this fixed deposit with as low as S$1,000.
- You can choose from a tenure ranging from 1 month up to 36 months.
- You can also opt for your deposit to be automatically renewed upon maturity.
Minimum Initial Deposit
The minimum amount to be invested for 1 or 2 month tenures is S$5,000 and S$10,000 for a 36 month tenure.
Eligibility
Applicants of this deposit scheme must be a minimum of 18 years. Applicants who are below 18 years of age and wish to open a Fixed Deposit account may do so with a parent / legal guardian who is a minimum of 18 years of age.
CIMB Foreign Currency Fixed Deposit Account
Enhance your savings with the CIMB Foreign currency Fixed Deposit Account which lets you invest a fixed sum of money in a foreign currency of your choice, which will be put away for a fixed period of time and will accumulate interest.
Features and Benefits
- You can choose from a wide range of foreign currencies such as USD, GBP, and CAD etc.
- You can choose from a wide range of tenures like 1, 3, 6, or 12 months.
- You can opt for automatic renewal of your deposit scheme once it reaches maturity.
- You can interest on the deposit amount at the interest rate of up to 3.65% per annum.
Minimum Initial Deposit
For currencies like USD, GBP, AUD, NZD, EUR, CAD and CNH, the minimum initial deposit amount is 10,000.
Eligibility
Applicant must be a minimum of 18 years of age.
Check CIMB Foreign Currency Fixed Deposit Interest Rates here.
CIMB SGD Step Up Fixed Deposit
Enjoy not only attractive rates of interest but also the flexibility to withdraw your money anytime with the unique CIMB SGD Step Up Fixed Deposit. The minimum amount to be invested is as low as S$25,000.
Features and Benefits
- You can choose between a 12 month and 18 month tenure.
- The interest rate increase every month for the 12-months deposit scheme and every 3 months for the 18-months deposit scheme.
- The interest rate can be as high as 2.80% per annum for the 12-months deposit scheme and 3.26% per annum for the 18-months deposit scheme.
Note - In the 12-month SGD Step Up Fixed Deposit, the interest rates increase each month and will touch a maximum of 2.40% per annum. For example, a deposit made for a tenor of 1 month will attract an interest rate of 0.50%, a 2 month deposit will attract an interest rate of 0.60% and so on.
Minimum Initial Deposit
The minimum initial deposit is S$25,000.
Eligibility
Applicants of this deposit account must be a minimum of 18 years of age. Applicants below 18 years of age who wish to open a S4 Fixed Deposit account may do with a parent or legal guardian who must be at least 18 years of age.
CIMB Why Wait Fixed Deposit-i Account
The CIMB Why Wait Fixed Deposit-i Account is designed on the Shariah concept of Murabahah (mark-up) in order to simplify the deposit taking facility and manage deposits in accordance with Shariah.
Features and Benefits
Some of the unique features and benefits of this deposit account are:
- You can start this account with as low as S$1,000.
- Compliant with Shariah.
- Returns on the deposit are fixed and paid up front, instead of upon maturity.
- Choice of automatic renewal of deposit amount upon maturity for same tenor at the prevailing interest rate.
Minimum Initial Deposit
The minimum initial deposit is S$1,000.
Eligibility
Applicants must be at least 18 years of age to open a Why Wait Fixed Deposit i-Account. Applicants who are below 18 years but wish to open a Why Wait Fixed Deposit i-Account can do so with a parent or legal guardian who is not below 18 years of age.
Interest Rate
The interest rates offered by CIMB Bank with its fixed deposit schemes in Singapore are as follows:
CIMB Singaporean Dollar Fixed Deposit Interest Rate 2017
|
Tenure |
<=S$99,999 (Interest rate p.a.) |
S$100,000 and above (Interest rate p.a.) |
|
1 month |
0.20% |
0.20% |
|
2 months |
0.30% |
0.30% |
|
3 months |
0.35% |
0.35% |
|
6 months |
0.40% |
0.50% |
|
9 months |
0.55% |
0.60% |
|
12 months |
0.70% |
0.75% |
|
24 months |
1.00% |
1.10% |
CIMB Islamic SGD Time Deposit Interest Rate 2017
|
Tenure |
<=S$99,999 (Interest rate p.a.) |
S$100,000 and above (Interest rate p.a.) |
|
1 month |
0.20% |
0.20% |
|
2 months |
0.30% |
0.30% |
|
3 months |
0.35% |
0.35% |
|
6 months |
0.40% |
0.50% |
|
9 months |
0.55% |
0.60% |
|
12 months |
0.70% |
0.75% |
Note: The minimum placement, although S$1,000, is pegged at S$5,000 for the 1-month and 2-month tenures.
CIMB Foreign Currency Fixed Deposit Interest Rate 2017 (USD)
|
Tenure and amount in USD |
USD10,000 (Interest p.a.) |
USD50,000 (Interest p.a.) |
USD100,000 (Interest p.a.) |
USD250,000 (Interest p.a.) |
|
1 month |
0.7175% |
0.8425% |
0.9675% |
1.155% |
|
3 months |
0.9075% |
1.0325% |
1.1575% |
1.345% |
|
6 months |
1.0875% |
1.2125% |
1.3375% |
1.525% |
|
12 months |
1.2275% |
1.3525% |
1.4775% |
1.665% |
CIMB Foreign Currency Fixed Deposit Interest Rate 2017 (AUD)
|
Tenure |
AUD10,000 (Interest p.a.) |
AUD50,000 (Interest p.a.) |
AUD100,000 (Interest p.a.) |
AUD250,000 (Interest p.a.) |
|
1 month |
1.2375% |
1.3625% |
1.4875% |
1.675% |
|
3 months |
1.4775% |
1.6025% |
1.7275% |
1.915% |
|
6 months |
1.6875% |
1.8125% |
1.9375% |
2.125% |
|
12 months |
1.8475% |
1.9725% |
2.0975% |
2.285% |
CIMB Foreign Currency Fixed Deposit Interest Rate 2017 (GBP)
|
Tenure |
GBP10,000 (Interest p.a.) |
GBP50,000 (Interest p.a.) |
GBP100,000 (Interest p.a.) |
GBP250,000 (Interest p.a.) |
|
1 month |
0% |
0% |
0% |
0.125% |
|
3 months |
0% |
0% |
0.0675% |
0.255% |
|
6 months |
0% |
0.1125% |
0.2375% |
0.425% |
|
12 months |
0.1275% |
0.2525% |
0.3775% |
0.565% |
CIMB Foreign Currency Fixed Deposit Interest Rate 2017 (Renminbi)
|
Tenure |
RMB10,000 (Interest p.a.) |
RMB50,000 (Interest p.a.) |
RMB100,000 (Interest p.a.) |
RMB250,000 (Interest p.a.) |
|
1 month |
1.4175% |
1.5425% |
1.6675% |
1.855% |
|
3 months |
1.9375% |
2.0625% |
2.1875% |
2.375% |
|
6 months |
2.7375% |
2.8625% |
2.9875% |
3.175% |
|
12 months |
3.2875% |
3.4125% |
3.5375% |
3.725% |
CIMB Foreign Currency Fixed Deposit Interest Rate 2017 (Euro)
Euro deposits at CIMB don’t earn any interest currently.
CIMB Fixed Deposit Schemes in Singapore
CIMB Bank offers three fixed deposit schemes for Singaporeans, Permanent Residents and Foreigners:
Singapore Dollar Fixed Deposit Scheme:
- The tenure for the Singapore Dollar Fixed Deposit Scheme ranges from 1 month to 24 months.
- The minimum placement amount to qualify for the fixed deposit scheme is S$1,000.
- The applicant should be a minimum of 18 years of age.
- Premature withdrawal of the amount placed in the scheme is possible. However, interest earned will be reduced significantly.
- Once the account attains maturity, it can be renewed automatically.
- For the 1-month and 2-month tenures, the minimum amount to be deposited is S$5,000.
Foreign Currency Fixed Deposit Account
- The Foreign Currency Fixed Deposit Scheme allows you to place your money in a wide range of foreign currencies that include USD, AUD, GBP and Chinese Renminbi, among others.
- Flexible tenure options are available under the scheme – 1 month, 3 months, 6 months and 1 year.
- Upon attaining maturity, automatic renewal of the deposit account is possible.
CIMB Why Wait Fixed Deposit-i Account
- This is an Islamic Banking time deposit, compliant with the Shariah principle of Murabahah.
- The product offers you profit rate at the outset instead of an interest amount at maturity.
- The minimum deposit amount is S$1,000 for tenures of 3 months or more, and S$5,000 for 1 or 2-month tenure.
- When opening this FD, the bank also offers a CIMB StarSaver-i account where no initial deposit would be required.
- This account is protected by the Deposit Insurance Scheme.
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Other Products Offered By CIMB Bank
- Apart from fixed deposits, CIMB Bank offers the following products in Singapore:
- Current accounts
- Savings accounts
- CIMB Personal Loan
- CIMB Home Loan
- Insurance
- CIMB Credit cards
FAQs
-
Is there any fixed deposit account from CIMB Bank that allows foreign currency deposits?
Yes, the CIMB Foreign Currency Fixed Deposit Account allows deposits in multiple foreign currencies.
-
What is the minimum initial deposit amount that I will need to spend to open a CIMb Bank Fixed Deposit Account?
You can open a fixed deposit account with a minimum initial deposit of $1,000.
-
Does CIMB Bank offer any Shariah compliant fixed deposit account in Singapore?
The CIMB Why Wait Fixed Deposit-i Account is shariah compliant and is available to customers in Singapore.
-
What are the tenures available with the Foreign Currency Fixed Deposit Account?
The CIMB Foreign Currency Fixed Deposit Account comes with tenures of 1, 3, 6 and 12 months.
-
What is the highest interest rate offered on the deposit amount, with the CIMB SGD Step Up Fixed Deposit Account?
The highest interest rate offered is 3.26% per annum for deposits with tenures of 18 months.
CIMB Deposit Promotion
Runtime – For a limited period of time
Particulars – Get Takaful Personal Accident (PA) coverage of up to S$500,000 when you open a CIMB Deposit-i account. If you apply for a new deposit account now, you will also receive Hospital Cash Benefit through which you can get S$100 per day of hospitalization due to an accident.
Apart from that, you will enjoy a promotional rate of 1.80 percent per annum with a new Why Wait Fixed Deposit account from CIMB. You will also get the chance to win stylish coffee maker from Krups, Samsung tablet, hand held vacuum cleaner from Dyson and a range of other gifts.
Promotion Details
|
Deposit (Fresh funds) |
Gifts Offered |
|
S$5,000 - S$9,999 |
Takaful Personal Accident coverage along with with Hospitalization Cash Benefit |
|
S$10,000 and above |
Takaful Personal Accident coverage (S$50,00) along with with Hospitalization Cash Benefit + 1 Sure-Win prize |
Interest Rate
|
Placement of Fresh funds for a tenure of 12 months |
Promotional Interest Rate |
|
S$1,000 to less than S$25,000 |
1.20 percent per annum |
|
S$25,000 to less than S$50,000 |
1.45 percent per annum |
|
S$50,000 to less than S$100,000 |
1.70percent per annum |
|
S$100,000 - S$1,000,000 |
1.80percent per annum |
Terms & Conditions
The promotion is available for a limited period of time. Please get in touch with the bank to know about all applicable terms and conditions.
Promo Period – Ongoing
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News About CIMB Fixed Deposit
-
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
