CIMB PH launches next generation, high interest time deposit product

January 25, 2024

Manila, Philippines – CIMB Bank Philippines, cited by Forbes as the Best Bank in the Philippines, further expands its innovative offers with the launch of the new MaxSave Time Deposit product. Offering the highest interest rate in the market of up to 7.5% per annum and flexible tenure options, CIMB savings account holders now have a new financial tool you can use to save for your new milestones in life.

“As the pioneer in disrupting the traditional banking space with our digital and embedded banking business model, we are pleased to introduce our next generation time deposit product. With MaxSave Time Deposit, your hard-earned money can work even harder for you so you can maximize the returns on your savings and explore the many possibilities you can pursue to truly live your life’s purpose. This helps enable you to be ready for the future and bring you closer to financing and achieving your next big life goal,” said Vijay Manoharan, CIMB Bank PH CEO.

MaxSave is a time deposit account with flexible tenure options, allowing you to choose between a 6-, 12-, or 24-month term. It also features high interest rates, ranging from 6.5% to 7.5% per annum. This allows you to safekeep funds you don’t intend to spend yet while continuing to grow it until you’re ready to pursue a long-term goal.

You can maximize your savings with MaxSave Time Deposit, which features the highest interest rates in the country. This new next generation time deposit product can help you become more future ready as you gear up for big-ticket purchases and even boost your savings as you gradually prepare for your future. This not only allows you to earn the highest interest rates compared to regular savings accounts, but also gives you peace of mind that your money is secure and enjoying high returns with CIMB. This next generation deposit product is also PDIC insured up to PHP 500,000 per customer.

Opening your own MaxSave Time Deposit can be done in less than five minutes, as it only requires an active and fully verified CIMB Bank PH deposit account. On the CIMB mobile banking app, simply go to the product selection page, select MaxSave Time Deposit and accept the terms and conditions, choose your preferred deposit amount and time period, enter your MPIN, and you’re good to go!

This product is part of CIMB Bank PH’s mission as the pioneer in digital banking product services in the country to promote financial inclusion via innovative ways to make banking that much more convenient and accessible to Filipinos.

To know more about MaxSave Time Deposit, visit cimbbank.com.ph/maxsave

CIMB Bank Philippines is a digital-only commercial bank providing innovative mobile-first digital banking solutions and services. Named by Forbes as the number 1 Bank in the country in its 2023 World’s Best Banks ranking, it has garnered 93 prestigious international awards and is a leader in digital banking product and services in the Philippines. Currently serving 7.5 million Filipinos and over 2.5 million lending customers, CIMB Bank Philippines is also part of the CIMB Group, one of ASEAN's leading banks present in over 16 global markets.

Read more about the bank’s products and promos on www.cimbbank.com.ph, as well as on its Facebook and Instagram pages.