When micro, small, and medium enterprises (MSMEs) thrive, so does the economy. In a country where MSMEs make up more than 99% of businesses according to a 2023 report by the Department of Trade and Industry, alongside millions of online sellers, financial inclusion for MSMEs has never been more critical. These hardworking Filipinos drive the economy forward, yet many still lack access to the banking services and solutions they need to grow their business.
CIMB Bank Philippines, The Asian Banker’s best digital bank in the country, recognizes this opportunity to help and contribute to MSME financial inclusion, similar to how the Bank disrupted the retail consumer landscape by pioneering end-to-end digital banking. Now, with close to 10 million customers, CIMB Bank PH is answering the needs of MSME owners and online entrepreneurs with CIMB Biz – a brand new segment designed to help MSMEs have access to banking services and help them grow their business in a smarter way.
With CIMB Biz, customers can enjoy an exclusive 4% deposit interest rate per annum (p.a.) on their savings account with no cap. They can also use up to 10 free Instapay transfers daily capped at PHP 150,000 and free PESONet transfers capped at PHP 500,000 per day. Plus, entrepreneurs can also earn an additional 0.5% interest p.a. on top of prevailing rates when opening a MaxSave deposit account.
Alongside these perks, CIMB Biz account holders also have access to the full suite of digital banking products and services offered on the award-winning CIMB Bank PH mobile app, such as bills payments with zero service fees, free virtual debit card, Own My Goals! milestone tracker, remittance services, and many more. Plus, there will be additional exciting features coming soon.
With the new CIMB Biz segment, CIMB Bank PH continues its mission to provide Filipinos with accessible financial solutions that they deserve, so that they can achieve their life goals. CIMB Biz is currently by invitation only for existing deposit customers but will be open for application to the public in the coming months to help more MSMEs make their money work smarter for their business. Stay updated by following CIMB Bank PH’s official social media channels on Facebook and Instagram or by visiting cimbbank.com.ph/biz.
