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Savings Strategies

Your Money’s Safe Space: CIMB Fixed Deposit/-i

CIMB ❘ 20 Jan 2025

4 min(s) read

Looking to grow your hard-earned money but don’t know where to start? Don’t fret because CIMB has you covered, starting with this Fixed Deposit/-i guide.

Stable, safe and comes with guaranteed higher returns, Fixed Deposit/-i is perfect for those looking to save and grow funds!

What is Fixed Deposit/-i?

Fixed Deposit/-i accounts are a secure way to set aside a lump sum of money for a specific period. You can choose to grow your funds for anywhere from one month to five years, depending on your financial goals.

Typically, the interest/profit rates offered are determined by the tenure, so you get the flexibility to make your savings work for you.

How Fixed Deposit/-i works in two simple steps

i. Open a Fixed Deposit/-i account: Visit any CIMB branch, log in to CIMB Clicks web or CIMB OCTO App to open your account.

ii. Make your placement: Deposit a minimum amount of RM1,000 using cash, fund transfer, or cheque and choose the tenure.

Sit back and enjoy your returns: Watch your deposits grow and enjoy guaranteed higher returns.

What Types of Fixed Deposit/-i Accounts Does CIMB Offer

CIMB offers several Fixed Deposit/-i accounts tailored to different customer needs:

Fixed Deposit/i	How it's different
Fixed Deposit	Enjoy the flexibility of making multiple withdrawals from your Fixed Deposit account before the maturity date.
Fixed Deposit-i (Maturity Returns)	An account that gives you the flexibility of making partial withdrawals with Fixed Deposit-i while maintaining great profit rates.
Fixed Deposit-i (Monthly Returns)	Earn monthly returns before the maturity date and enjoy the flexibility of making partial withdrawals with Fixed Deposit while maintaining great profit rates.
Fixed Deposit-i (Why Wait)	With Why Wait make a deposit and receive your cash (security deposit) immediately upon signing up.
Foreign Currency Fixed Deposit	Enjoy higher interest rates when you deposit your foreign currency for a minimum tenure of 1 day.
Foreign Currency Fixed Deposit-i	Enjoy higher profit rates when you deposit foreign currency. The profit rate you earn is based on the denominating country and will be paid upon maturity. Islamic equivalent of Foreign Currency Fixed Deposit.
Golden Time Deposit 2 (Big Plus for 50 Plus	Attractive interest rates and flexibility to get Fixed Deposit interest credited to the savings account on a monthly basis, available for individuals aged 50 years and above.

How Fixed Deposits Grow Your Money

You may wonder, why open a Fixed Deposit/-i account? While there’s nothing wrong with the good-old savings account, a Fixed Deposit/-i account offers better interest/profit rates to help you ‘grow’ your money faster.

Here’s a simple illustration: Let’s say you have a fund of RM10,000 and decide to place it in a CIMB’s Fixed Deposit/-i account for 6 or 12 months – how much can you get at the end of each tenure? Let’s find out!

Initial deposit	RM10,000
Tenure	6-months	12-months
Interest / Profit Rate	2.50% p.a.	2.50% p.a.
Total Interest / Profit Earned	RM 124.23	RM250
Total amount	RM10,124.23	RM10,250

All you have to do is keep your bonus in CIMB’s Fixed Deposit/-i account – and earn the extra cash above by doing nothing…talk about durian runtuh!

Typically, the longer the period, the higher the interest/profit rate that banks will offer you.

The Many Benefits of Fixed Deposit/-i Accounts

Aside from the favourable interest/profit rates, Fixed Deposit/-i offer plenty of benefits.

Fixed Deposit/-i offers guaranteed returns

While Fixed Deposit/-i accounts are not as ‘exciting’ as other types of instruments like stocks and mutual funds, they offer stability for those who are conservative and risk-averse. This is because:

Your deposit is protected: The initial amount you deposit is protected, meaning you won’t lose your principal fund.

Guaranteed Returns: The interest/profit rate is predetermined, so you know exactly how much you'll earn over the term of the deposit.

PIDM Protected: CIMB’s Fixed Deposit/-i is protected by Perbadanan Insurans Deposit Malaysia* (PIDM) up to RM250,000 for each depositor.

Fixed Deposit/-i is flexible

Fixed Deposit/-i generally offer a wide range of tenure options, so you can choose a duration that best suits your financial goals. Banks like CIMB take it a step further, allowing you to withdraw your money prematurely, which may be useful for rainy days—though this option does result in reduced interest/profit earnings.

3 Questions to Ask Before Putting Money in Fixed Deposit/-i

Excited to kickstart this financial journey? Here are a few key questions you should have answers to before you get started!

Q1: Where can I place a Fixed Deposit/-i?

You can simply walk into any CIMB bank to open a Fixed Deposit/-i account. And if you’re with CIMB, it’s even easier—you can make your placement online directly from the CIMB OCTO app!

Q2: What are the penalties for early withdrawal?

Make sure you understand that by withdrawing your money before the maturity date you will lose the interest/profit.

Q3: Is my deposit insured and secure?

Fixed Deposit/-i are protected by PIDM up to RM250,000 for each depositor.

Who Should Place a Fixed Deposit?

The short answer? Everyone. But Fixed Deposit/-i is typically preferred by those looking for stable, predictable returns without exposure to market fluctuations. They are perfect for short-to-medium-term financial goals, like saving for a wedding, vacations, or those looking for capital protection too.

Fixed Deposit/-i is the perfect choice for a secure and profitable way to grow your savings. The best part? You get peace of mind too! Just remember, it’s always smart to do your research and find the right product that suits you.

Ready to get started? Head on over to our Fixed Deposit page and make your deposit with us through the CIMB Clicks web or CIMB OCTO app. Take the first step towards a more secure financial future with CIMB today!

*PIDM is a government agency established under the Malaysia Deposit Insurance Corporation Act to protect depositors against the loss of their insured deposits in the event that a member institution fails.

Terms and Conditions Apply.

Member of PIDM.

This article is for informational purposes only and CIMB does not make any representation and warranty as to the accuracy, completeness and fairness of any information contained in this article. As this article is general in nature, it is not intended to address the circumstances of any particular individual or entity. You are advised to consult a financial advisor or investment professional before making any decisions based on the information contained in this article. CIMB assumes no liability for any consequences arising from your reliance on the information presented here.

#Savings #Savings

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Your Money’s Safe Space: CIMB Fixed Deposit/-i

What is Fixed Deposit/-i?

How Fixed Deposit/-i works in two simple steps

What Types of Fixed Deposit/-i Accounts Does CIMB Offer

How Fixed Deposits Grow Your Money

The Many Benefits of Fixed Deposit/-i Accounts

3 Questions to Ask Before Putting Money in Fixed Deposit/-i

Who Should Place a Fixed Deposit?