CIMB Step-Up Fixed Deposit

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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

Interest Rate Up to 1.65%
Min. Deposit $10,000
Review on CIMB Step-Up Fixed Deposit
Pros

High FD interest rate

Low minimum deposit

Cons

Foreign Bank with limited branches

Triannually step-up interest rate with long tenure

Deposit Details Deposit Details

  Month  Interest
1 4 1.00% p.a.
2 8 1.20% p.a.
3 12 1.40% p.a.
4 16 1.70% p.a.
5 20 2.00% p.a.
6 24 2.60% p.a.
Average   1.65% p.a.

 

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

 

  Month  Interest
1 1 0.70% p.a.
2 2 0.80% p.a.
3 3 0.90% p.a.
4 4 1.00% p.a.
4 5 1.10% p.a.
4 6 1.20% p.a.
4 7 1.30% p.a.
4 8 1.50% p.a.
4 9 1.70% p.a.
4 10 2.00% p.a.
4 11 2.30% p.a.
4 12 2.90% p.a.
Average   1.45% p.a.

 

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

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