Note: CIMB Singapore has discontinued the CIMB step-up fixed deposit and interested applicants can consider the CIMB Why Wait Fixed Deposit as an alternative
High FD interest rate
Low minimum deposit
Foreign Bank with limited branches
Triannually step-up interest rate with long tenure
Step up rate of 0.20% to 0.60% p.a. starting from 1.00% p.a. in the first cycle to 2.60% p.a. in the sixth cycle for a 24-Month SGD Step Up Fixed Deposit (Until 30 Sep 2016)
Each cycle has a period of 4 months
The average interest rate of the CIMB 24-Month Step Up SGD Fixed Deposit is 1.65% p.a.
Flexibility to withdraw anytime with no penalty
A minimum deposit of $10,000 and maximum of $1,000,000 is required to receive these rates
Alternatively, depositors can choose a 12-Month SGD Step Up Fixed Deposit where there is a Step up rate of 0.10% to 0.60% p.a. starting from 0.70% p.a. in the first cycle to 2.90% p.a. in the twelveth cycle (Until 30 Sep 2016)
Each cycle has a period of 1 month
The average interest rate of the CIMB 12-Month Step Up SGD Fixed Deposit is 1.45% p.a.
Click here to go to CIMB website for more details