CIMB usually offers one of the most attractive deposit rates in town.
This Step Up Fixed deposit that they are offering is very similar to the one that Standard Chartered Bank is offering, except that the tenure is much shorter, 12 months instead of 36 months. For a minimum deposit of S$10,000, you will enjoy interest rates, starting from 0.5% p.a. in Month 1 to a maximum of 1.6% p.a. in Month 12. Basically, that means a step up rate of 0.1% every month. The average interest rate for the deposit tenure is 1.05% p.a. if the account is held to account maturity date.
The great thing about it is that it gives the flexibility to withdraw your funds at anytime, preferably at the cycle maturity dates, so that you can earn the interest for that particular cycle.
For more details on the CIMB SGD Step Up Fixed Deposits, please click on the link.
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