‘Ber’ months pa naman! CIMB trims interest promo from 12% to 5%

After offering an attractive interest rate in August, Malaysian lender CIMB has reduced the rate of its promo for depositors.

The all-online bank said it is paying a 5% interest per annum for new and existing depositors in its mobile app.

In August, CIMB paid a 6% interest rate for existing balances and as much as 12% for increases in the average daily balance deposited by a customer compared to their July level of deposits.

The good news here is that the 5% applies to all deposits with no limit. Will this be enough to keep their clients happy?