• CIMB Foreign Currency Fixed Deposits

    Overview of CIMB - Commerce International Merchant Bankers Bhd

    The CIMB Group is a universal bank that has its headquarters in Kuala Lampur and has its presence in all high growth economies part of the ASEAN (Association of Southeast Asian Nations). CIMB is the one of the largest investment bank in the Asia Pacific and also one of the largest international Islamic banks in the world. CIMB (Commerce International Merchant Bankers Bhd) is currently present in 17 countries across the world and is the fifth largest bank in ASEAN. It has employed more than 43, 000 employees across its different branches to provide top notch products and services to all CIMB members conveniently. Towards the end of June 2015, the bank’s total assets were worth RM 438.3 billion. In Singapore, the bank provides an array of products and services to its customers, making it one of the most trustworthy banks on the island. Whether you are looking for Debit or Credit Cards, Insurance, Loans etc. CIMB can assist you with anything financial service or banking product.

    CIMB Foreign Currency Fixed Deposit Singapore

    By choosing the CIMB Foreign Currency Fixed Deposit account, you can save a fixed amount of money in an acceptable foreign currency for a fixed period of time for a profitable return as per a fixed interest rate structure.

    Features and Benefits of CIMB Foreign Currency Fixed Deposit

    • CIMB gives you a choice of 7 different currencies for the Foreign Currency Fixed Deposit which are as follows –
      1. United States Dollar (USD)
      2. Sterling Pound (GBP)
      3. Australian Dollar (AUD)
      4. New Zealand Dollar (NZD)
      5. Euro (EUR)
      6. Canadian Dollar (CAD)
      7. Chinese Renminbi (Renminbi Offshore - CNH)
    • CIMB offers flexible fixed deposit tenures to choose from – 1, 3 , 6 and 12 .
    • Facility for Automatic Renewal – CIMB provides the automatic renewal facility wherein upon the maturity period, the funds in the fixed deposit can be automatically renewed for the same tenure and the prevailing interest rate structure, unless other instructions are provided by you.

    CIMB Foreign Currency Fixed Deposit Promotion

    • CIMB is offering up to 3.75percent per annum when you apply for the 12 tenure for the CIMB Foreign Currency Fixed Deposit as a promotional offer on selected currencies.
    • The interest rates provided below are the promotional rates starting from December 1st, 2015 and up to December 31st, 2015.
    • This promotion is applicable only for a minimum deposit amount of 20,000 in the respective currency.
    Currency / Tenure Australian Dollar (AUD) New Zealand Dollar (NZD) United States Dollar (USD) Euro (EUR) Sterling Pound (GBP)
    1 2.08 2.73 0.23 0.00 0.28
    3 2.58 3.09 0.74 0.00 0.58
    6 2.83 3.29 1.13 0.00 0.94
    12 3.27 3.75 1.77 0.35 1.48

    Eligibility and Requirements for the CIMB Foreign Currency Fixed Deposit

    • The following individuals are eligible to apply for the CIMB Foreign Currency Fixed Deposit –
      1. Singapore Citizens
      2. Singapore Permanent Residents (PRs)
      3. Malaysians
      4. Foreigners
    • Both personal and joint accounts are eligible for the CIMB Foreign Currency Fixed Deposit
    • The applicant must be at least 18 years of age to apply on their own. Applicants below the age of 18 are also eligible to apply for the CIMB Foreign Currency Fixed Deposit with a parent or a legal guardian who is at least 18 years of age. An in trust account must be opened in this case.
    • The minimum initial deposit amounts for all the 7 currencies is 10, 000 in the respective currency.
      1. In case of a Single Account – The applicant must write a Personal Cheque that is made payable to the applicant’s name from an individual account with any other bank in Singapore.
      2. In case of a Joint Account – Both the applicants must write one cheque each from their individual accounts with any other bank in Singapore.

    Documentation Requirements for the CIMB Foreign Currency Fixed Deposit

    • Singapore Citizens, Singapore Permanent Residents (PRs) and Malaysians must provide a scanned copy or an image of the front and back of their NRIC.
    • Foreigners must provide a scanned copy or an image of their Passport as well as a Proof of their Residential Address such as a Utility Bill, Telecommunication Bill, Bank Statement etc.
    • Your Signature is required on the application form.

    Important Notes:

    • CIMB only accepts JPG, GIF and PNG formats.
    • The signature on the Personal Cheque must correspond to the signature on the application form.

    Applying for the CIMB Foreign Currency Fixed Deposit

    • You can fill in the details of the LUCY Form (Let Us Call You) and the bank will then contact you regarding the application process.
    • You can directly apply for the CIMB Foreign Currency Fixed Deposit online by filling and submitting the online application form. It only takes 10 minutes to submit the form online and provide the necessary documents.
    • You can call CIMB Bank on their Personal Hotline number available on all days between 9 AM and 9 PM.
    • You can email CIMB Bank and you are sure to get a response from them within 1 business day.

    CIMB Foreign Currency Fixed Deposit Interest Rates

    The fixed deposit interest rates given below are effective from 17 August, 2016

    Interest Rates for US Dollar Deposits

      Amount of Deposit
    Tenure (Months) 10 K 50 K 100 K 250 K
    1 0.8075 0.9325 1.0575 1.2450
    3 0.9775 1.1025 1.2275 1.4150
    6 1.1375 1.2625 1.3875 1.5750
    12 1.1875 1.3125 1.4375 1.6250

    Interest Rates for Sterling Pound Deposits

      Amount of Deposit
    Tenure (Months) 10 K 50 K 100 K 250 K
    1 0.0000 0.0000 0.0000 0.0250
    3 0.0000 0.0000 0.0775 0.2650
    6 0.0075 0.1325 0.2575 0.4450
    12 0.1475 0.2725 0.3975 0.5850

    Interest Rates for Australian Dollar Deposits

      Amount of Deposit
    Tenure (Months) 10 K 50 K 100 K 250 K
    1 1.3575 1.4825 1.6075 1.7950
    3 1.5075 1.6325 1.7575 1.9450
    6 1.6475 1.7725 1.8975 2.0850
    12 1.7175 1.8425 1.9675 2.1550

    Interest Rates for New Zealand Dollar Deposits

      Amount of Deposit
    Tenure (Months) 10 K 50 K 100 K 250 K
    1 1.5775 1.7025 1.8275 2.0150
    3 1.7775 1.9025 2.0275 2.2150
    6 1.8875 2.0125 2.1375 2.3250
    12 2.0275 2.1525 2.2775 2.4650

    Interest Rates for Euro Deposits

      Amount of Deposit
    Tenure (Months) 10 K 50 K 100 K 250 K
    1 0.0000 0.0000 0.0000 0.0000
    3 0.0000 0.0000 0.0000 0.0000
    6 0.0000 0.0000 0.0000 0.0000
    12 0.0000 0.0000 0.0000 0.0000

    Interest Rates for Canadian Dollar Deposits

      Amount of Deposit
    Tenure (Months) 10 K 50 K 100 K 250 K
    1 0.0000 0.1000 0.2250 0.3500
    3 0.2250 0.3500 0.4750 0.6000
    6 0.4550 0.5800 0.7050 0.8300
    12 0.5650 0.6900 0.8150 0.9400

    Interest Rates for Renminbi (Offshore) Deposits

      Amount of Deposit
    Tenure (Months) 10 K 50 K 100 K 250 K
    1 0.0000 0.0000 0.0000 0.0000
    3 0.0000 0.0000 0.0000 0.0000
    6 0.0000 0.0000 0.0000 0.0000
    12 0.0000 0.0000 0.0000 0.0000

    Note:

    • The value date for the aforementioned interest rate structures for different foreign currencies is Tuesday, December 8th, 2015.
    • The interest rate structure mentioned above is subject to change without any prior notice.

    CIMB Foreign Currency Fixed Deposit Frequently Asked Questions

    1. What are the foreign currencies accepted for the CIMB Foreign Currency Fixed Deposit?
    2. CIMB accepts 7 different foreign currencies for their Foreign Currency Fixed Deposit. The accepted foreign currencies are as follows – United States Dollar (USD), Sterling Pound (GBP), Australian Dollar (AUD), New Zealand Dollar (NZD), Euro (EUR), Canadian Dollar (CAD) and Chinese Renminbi (Renminbi Offshore - CNH).

    3. What are the loan tenures offered for the CIMB Foreign Currency Fixed Deposit?
    4. CIMB offers flexible loan tenures for their Foreign Currency Fixed Deposit. You can choose between 1, 3 , 6 and 12 to earn an interest on your fixed deposit.

    5. I am not 18 years of age. How do I apply for the CIMB Foreign Currency Fixed Deposit?
    6. If you are not 18 years of age, you are still eligible to apply for the CIMB Foreign Currency Fixed Deposit. You will need a parent or a legal guardian who is at least 18 years old to open an in trust account. This will make you eligible to apply for the CIMB Foreign Currency Fixed Deposit.

    7. What will happen to my CIMB Foreign Currency Fixed Deposit account upon maturity if I have not provided any specific instructions to the bank?
    8. CIMB has the Automatic Renewal facility, wherein, upon the maturity of your CIMB Foreign Currency Fixed Deposit account, your account will get automatically renewed for the same tenure chosen by you previously and at the prevailing interest rate structure unless there any instructions provided you.

    9. Is there a minimum initial deposit amount required for the CIMB Foreign Currency Fixed Deposit?
    10. Yes. The minimum initial deposit amount required for the CIMB Foreign Currency Fixed Deposit is 10, 000 in the respective foreign currency of your choice. Your interest rate structure will be calculated depending on the fixed deposit tenure chosen by you.

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