CIMB will adjust the foreign currency time deposit interest rate starting from November 23, 2023.
According to information released by CIMB, the time deposit interest rates for US dollars, euros, British pounds, Australian dollars, New Zealand dollars, Hong Kong dollars, RMB, Swiss francs and Canadian dollars will be adjusted starting from November 23, 2023.
A U.S. dollar time deposit deposited for 12 months can enjoy 5.80% p.a., a U.S. dollar time deposit deposited for 1 month can enjoy 5.45% p.a., and a U.S. dollar time deposit deposited for 3 months can enjoy 5.77% p.a.
The minimum deposit amount of CIMB’s foreign currency time deposit is an equivalent amount of RM10,000. The interest on the foreign currency time deposit will be calculated on a daily basis, and the interest will be paid in one lump sum after the maturity.
However, it should be noted that if the foreign currency you deposit depreciates during the period you deposit it, you will suffer a loss. There will definitely be an exchange rate difference when converting foreign currencies, so frequent exchange rate conversions in the short term will definitely cause losses.