CIMB makes loan repayments extra rewarding through savings interest rate of up to 8%
To help encourage good financial habits and reward customers who pay for their loans and credit lines on time, leading digital banking services provider CIMB Bank PH is currently offering a savings interest rate of up to 8% to eligible GSave and UpSave customers. One of the highest savings interest rates in the market, the offer provides three ways through which customers can earn a total savings interest rate of 8% per annum (p.a.) on their Average Daily Balances (ADB) of up to PHP 200,000.*
One, customers who either maintain a Total Relationship Balance (TRB) of at least PHP 100,000, or grow their Average Daily Balance (ADB) by at least PHP 500, on their UpSave or GSave account qualify for a 4% p.a. savings interest rate.
Two, they can then get an additional 2% p.a. interest by buying load, paying bills, cashing in, or cashing out through interbank transfers to another account.
Three, on top of these rates, they can earn another additional 2% p.a. interest by paying their Personal Loan installments or the Minimum Amount Due on their REVI Credit accounts on time.
According to the Bangko Sentral ng Pilipinas’ 2019 Financial Inclusion Report, 72% of Filipino borrowers are able to pay their loans on or before their due dates. Paying your loans on time is a crucial step to long-term financial success. Aside from preventing your debts from accumulating, settling your loans as they fall due also help you establish and maintain a good credit score.
Through this offer, CIMB Bank PH aims to help Filipinos build this habit by rewarding customers who pay their credit lines and loans on time. The Bank also seeks to encourage Filipinos to save more and to discover the products and features available on the CIMB Bank PH app which they can leverage for their financial transactions, like buying load, paying bills, and transferring funds.
“Since day one, we at CIMB are committed to being every Filipino’s companion in achieving their financial goals,” says Vijay Manoharan, CIMB Bank PH Chief Executive Officer. “This offer is our own little way of helping them develop good financial habits and, ultimately, contribute to building a culture of responsible financial management in the country.”
*ADBs in excess of PHP 200,000 will earn 2.5% p.a. for UpSave customers and 2.6% p.a. for GSave customers.
CIMB Bank Philippines Inc. is a commercial bank licensed by the Bangko Sentral Pilipinas. You may contact the BSP Financial Consumer Protection Department at (+632)8708-7087 or email@example.com.