CIMB will adjust the foreign currency time deposit interest rates from March 27, with a maximum of 3.70% p.a. for New Zealand Dollar and 5.15% p.a. for Pound Sterling.
According to CIMB’s official website, from March 27, 2024, the foreign currency time deposit interest rates will be adjusted for Pound Sterling, New Zealand Dollar, New Zealand Dollar, Swiss Franc and Canadian Dollar.
For SGD time deposits, 3.70% p.a. for 1 month, 3.55% p.a. for 6 months and 3.35% p.a. for 12 months.
As for sterling, it offers 5.05% p.a. for 1 month, 5.15% p.a. for 3 months, 5.05% p.a. for 6 months and 4.85% p.a. for 12 months.
The minimum deposit amount for CIMB Foreign Currency Time Deposit is the equivalent of RM10,000. Interest on Foreign Currency Time Deposits will be calculated on a daily basis and paid in a lump sum at the end of the tenure.
However, it is important to note that you will lose money if the foreign currency deposited depreciates in value during the period of your deposit. There will also be exchange rate differences when converting foreign currencies, so frequent conversions in the short term will definitely result in losses.
(The information is for reference only and does not contain any investment advice)
