Deposit your Christmas bonus! CIMB, GCash offer 12% interest on savings this December

GCash, through its Malaysian bank partner CIMB, will be paying huge returns on deposits this December to celebrate the latter’s anniversary.

CIMB announced that existing customers may enjoy a 12% per annum rate on their savings for the month, provided that they increase their deposits to raise their average daily balance compared to November 2022.

This is double their introductory deposit rate of 6% per annum.

The benefit is extended to customers who are depositing via the GSave feature of the Ayala-owned e-wallet. CIMB customers who have existing online savings accounts as of September 30, 2022 are eligible for the higher interest rate promo.

The reward will be credited by January 2023.

Swiss sweat over size of new superbank

The arranged marriage of UBS and Credit Suisse will create the biggest bank Switzerland has ever seen, with some wondering if the superbank might be too big for its own good.