Apologies for the late upload regarding CIMB’s latest interest rates. I was busy at work and didn’t have the time to go over their latest promo.
Anyway, their latest promo is a bit interesting. It’s slightly similar to that of their previous promo but with a twist.
What’s the latest promo?
Similar to the previous one, it’s still a 2-part promo but instead of a 6% per annum interest rate for the first part, it’s down to 5%. However, there’s no cap this time around compared to capping the balance to 200K previously.
Quick summary of how it works
- All balances will earn 5% p.a. So regardless of how much money you have in your balance, it will earn a 5% per annum rate.
- Incremental ADB Balance Growth – If you increase your Average Daily Balance (ADB) this month (September), the said amount will earn 12% interest p.a. instead of just 5%. No cap as well.
Note: In order to qualify for the Incremental ADB Balance Growth, cash-in transactions must be via InstaPay, PESONet, Dragonpay, Bayad Center, GCash, 7 Eleven, and Over-the-counter Banks. This means that you can’t simply transfer your balance from GSave to UpSave (and vice versa).
Scenarios
- New account holder (created in September) – The 5% pa interest rate will be applied to his deposits for the month.
- Existing account holder but did not increase his ADB for September – The 5% pa interest rate will be applied to his existing balance.
- Existing account holder who increased his ADB for September – The 5% pa interest rate will be applied to his previous balance while the growth ADB will get 12% pa.
Please note that ADB growth is not the same as your new deposit. Refer to your account details to check your ADB growth.
How long does this promo last?
This promo is valid between September 1-30, 2023.
Kuro-kuro ni Kuya Well
For small fries like me, the previous promo was a better deal. Di naman umaabot ng more than 200K yung balance ko so walang incentive para sa akin yung latest promo. Actually, it’s a downgrade for me.
That said, this is good news for those who have more than 200K in their balances. It appears that they’re trying to appeal to customers who may have switched to GoTyme because the other one offers no cap.
This is also a way better deal than that of Maya since Maya has a cap of 100K. meaning you can only get up to 10% pa for your first 100K balance in Maya and that is if you’re able to complete the missions required to do so.