CIMB has made some major changes to its promo. It appears to be somehow following that of Maya wherein there are tasks that you need to perform to get additional 1-2% increments.
What’s the latest promo?
Before we go to the breakdown, let’s acknowledge the fact that the interest promo rate will be applied to all balances. This means that there is NO CAP on the balance that will earn the interest rate per annum.
- 5% base interest rate per annum
- +2% p.a. interest when you spend 5K using your CIMB Virtual Debit Card for the qualifying month
- +3% p.a. interest when you spend 50K using your CIMB Virtual Debit Card or if you Pay Bills or Buy Load for the qualifying month
Additional Interest for Existing Customers
- +1% p.a. interest when you grow your total ADB by at least 5K
- +4% p.a. interest when you grow your total ADB by at least 50K
What is an existing customer?
- For the month of November 2023: customers with open GSave and/or UpSave accounts as of September 30, 2023.
- For the month of December 2023: customers with open GSave and/or UpSave accounts as of October 31, 2023
Quick diagram of the promo
How long does this promo last?
This promo is valid between November 1 to December 31, 2023.
Kuro-kuro ni Kuya Well
I can understand why they have now “tasks” before one can earn the additional interest rate per annum, hence why it looks like the “mission” of Maya. What I like about it though is that there’s NO CAP on balances. With Maya, the boost interest is applicable only to 100K of your balance. Any excess amount that you have will earn 3.5%. But CIMB went all out and removed the cap.
The NO CAP rule was a bonus point for GoTyme but with this new promo from CIMB, I’m sure that people who switched to GoTyme may move their money back to CIMB (at least for the duration of the promo).