Push Admin

CIMB launches new time deposit with interest as high as 7.5 pct

Article (news)

Benise Balaoing, ABS-CBN News

MANILA -- CIMB is offering its customers a time deposit option with interest rates as high as 7.5 percent.CIMB said MaxSave is a time deposit account which allows to users to pick among 6, 12, or 24-month terms. Interest rates range from 6.5 percent to 7.5 percent per annum. The minimum principal deposit is P10,000, but can be as high as P1,000,000.The digital bank said the time deposit can be opened in less than five minutes using their app. Up to 5 MaxSave accounts may be opened, the bank said.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/22/23/cimb-reinforces-digital-banking-solutions-as-online-spending-grows">CIMB reinforces digital banking solutions as online spending grows</a></li>	<li><a href="https://news.abs-cbn.com/video/business/07/28/23/cimb-bullish-about-growth-in-ph-as-loan-portfolio-expands">CIMB bullish about growth in PH as loan portfolio expands</a></li></ul>CIMB, which launched in the Philippines as all-digital bank in 2019, now has 7.5 million customers.A digital bank is under a new and different category, under a framework approved by the BSP in 2020. Only 6 banks have digital banking licenses from the central bank.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/01/05/24/growing-your-money-should-you-save-in-digital-banks">Growing your money: Should you put your savings in digital banks?</a></li></ul>Asked why the bank didn&#x27;t apply for a digital banking license last year, CIMB chief business and strategy officer Ankur Seghal said, &quot;What digital banks can offer, we can also offer with the same banking license and more. It does not restrict us.&quot;

CIMB is offering its customers a time deposit option with interest rates as high as 7.5 percent.

CIMB launches new time deposit with interest as high as 7.5 pct

News

Entertainment

Lifestyle

Sports

Metro.Style

More

Traffic

Manila

Horoscope

Business

CIMB launches new time deposit with interest as high as 7.5 pct

Benise Balaoing,

ABS-CBN News

Published Jan 25, 2024 06:54 PM PHT

|

Updated Jan 26, 2024 09:54 AM PHT

Read More:

CIMB

time deposit

digital bank

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.