Aug 4
The CIMB promo campaign that was introduced in July has been extended until August 31, 2023.
July 3
CIMB’s previous promo, including the 12% Introductory Rate for new customers, has ended. But don’t worry, they have a new promo which I believe is even more satisfactory than the last.
What’s the latest promo?
It’s a 2-part promo:
- The previous 6% interest promo rate for GSave and UpSave accounts has been retained. This means that a balance up to a maximum of 200K will earn 6% per annum. Amounts exceeding 200K will earn the base interest rate of 2.5% (Upsave) or 2.6% (GSave).
- Step-up upgrade – If you increase your Average Daily Balance (ADB) this month (July), the said amount will earn 12% interest p.a.
Important Notes:
- Only customers with existing GSave and UpSave account/s as of May 31, 2023, are eligible for the step-up upgrade (12% interest promo)
- The ADB growth must be performed via customer-initiated cash-in transactions via InstaPay, PESONet, Dragonpay, Bayad Center, GCash, 7-Eleven, and Over-the-counter Banks.
- There’s no cap for the step-up upgrade.
How does the promo work?
Let’s say you had a 30K ADB last month and by the end of the month of July you are able to grow your ADB to 40K. 30K will earn 6% p.a. while 10K will be earning 12% p.a.
What if you have more than 200K ADB? For example, you had 220K ADB last month and you’ve increased it to 300K by the end of July. Here’s how it will go down:
- 200K will earn 6% p.a. interest
- 20K will use the 2.5% or 2.6% (depending on the type of account) p.a. interest rate
- 80K (which is your ADB growth) will follow the 12% p.a. interest rate
Kuro-kuro ni Kuya Well
Since last month, mas nakakapuntos si CIMB (and GCash for that matter since karamihan is using GSave than the UpSave account) compared kay Maya, in terms of promo interest rate. Although you can increase your interest rate to 10% p.a. kay Maya compared sa max na 6% interest rate ni CIMB for existing customers last month, mahirap namang i-achieve yung missions nila.
Tapos, since until Aug 31 pa yung current interest rate promo ni Maya, we can definitely say that for this month (July), CIMB offers a better option than Maya in terms of interest rate.