AUTO BALANCE CONVERSION

13% p.a. Effective Interest Rate (EIR)/ Payable Facility Charges (PFC)** is equivalent to 7.1% p.a. Flat Rate.

Effective Interest Rate (EIR) is the interest rate on a financial product with annual compounding.

This is only an illustration of the minimum payment due with and without Auto Balance Conversion with the following assumptions:
 

1. Minimum payment due is 5% of statement balance*. Customer makes minimum payment of 5% monthly.
   
2. There is no new retail spend or cash advance following the conversion.
3. The outstanding balance* consists of retail spend only and revolves at 17% p.a.
4. The monthly instalment amount from Auto Balance Conversion is RM505 and 100% of instalment amount is demanded.
    

*For CIMB Islamic Credit Card, the outstanding amount/statement balance that will be converted into Auto Balance Conversion is outstanding principal amount only.
 

**The PFC rate will be subject to the cardholder’s payment history (in accordance to BNM Credit Card-i Guideline) and the monthly rebate that shall be granted by the Bank on the Yearly Facility Charges during Auto Balance Conversion period.

***For Credit Card-i, the Bank will grant a rebate where applicable for early settlement of the installment plan.