If you’re looking to open a bank account in Singapore, CIMB Bank is one of the options you can consider. CIMB Bank offers various financial services, including savings accounts, current accounts, credit cards, loans, fixed deposits, and general insurance. One of the advantages of opening an account with CIMB Bank is that you can do it online, without the need to visit a branch.
To open a CIMB Bank account in Singapore, you need to meet certain requirements, such as being at least 18 years old, having a valid Singaporean residential address, and providing your identification documents. The process of opening an account is straightforward, and you can do it in a few easy steps. Once you have opened your account, you can manage it online, through the CIMB Clicks platform, which allows you to check your balance, transfer funds, pay bills, and more.
In addition to its basic financial services, CIMB Bank also offers additional financial products and services, such as investment opportunities, insurance plans, and foreign currency exchange. Moreover, CIMB Bank frequently runs promotions and rewards programs, which could provide you with additional benefits and savings. If you’re interested in opening a bank account in Singapore, CIMB Bank could be a good option to consider, especially if you prefer to do your banking online.
Key Takeaways
- CIMB Bank offers various financial services, including savings accounts, current accounts, credit cards, loans, fixed deposits, and general insurance.
- You can open a CIMB Bank account in Singapore online, without the need to visit a branch.
- CIMB Bank offers additional financial products and services, and frequently runs promotions and rewards programs.
Opening a CIMB Bank Account in Singapore
If you’re looking to open a savings account in Singapore, CIMB Bank offers a range of options to suit your needs. Here’s what you need to know about opening a CIMB Bank account in Singapore.
Benefits of CIMB Savings Accounts
CIMB Singapore offers a range of savings accounts that come with a host of benefits. These include:
- No monthly fees: CIMB savings accounts come with zero monthly fees, making it easier for you to save money without worrying about additional charges.
- Deposit Insurance Scheme: Your deposits with CIMB Singapore are insured up to S$75k by the Deposit Insurance Scheme.
- High interest rates: With CIMB Singapore’s savings accounts, you can enjoy high interest rates of up to 3.50% p.a. on your deposits.
- Shariah-compliant accounts: CIMB Singapore also offers Shariah-compliant savings accounts, such as the CIMB FastSaver-i Account and CIMB StarSaver (Savings)-i Account.
Types of CIMB Savings Accounts
CIMB Singapore offers several types of savings accounts to suit your needs. Here are some of the most popular options:
- CIMB FastSaver Account: CIMB FastSaver is a high-interest savings account that lets you earn up to 3.50% p.a. interest on your deposits. You can apply online and activate your account within minutes.
- CIMB StarSaver Account: CIMB StarSaver is a savings account that offers zero service charge for overseas withdrawals. You can apply online and enjoy the convenience of managing your account from anywhere.
- CIMB Junior Saver Account: If you’re looking to open a savings account for your child, the CIMB Junior Saver Account is a great option. It’s an online savings account for children aged 12 years and below, and comes with a competitive interest rate.
To open a CIMB Bank account in Singapore, you can apply online through the bank’s website. Simply choose the account that suits your needs, fill out the online application form, and submit the required documents. With CIMB Singapore’s hassle-free account opening process, you can start saving and earning interest in no time.
Account Opening Requirements
Opening a CIMB bank account in Singapore is a straightforward process. However, before you begin, you must ensure that you meet the eligibility criteria and have the necessary documents.
Eligibility Criteria
To open a CIMB bank account in Singapore, you must be at least 16 years old. If you are below 16 years old, you must open an in-trust joint account with a parent or legal guardian. Additionally, you must be a Singapore citizen, permanent resident, or a foreigner with a valid work permit or employment pass.
Documents Needed
To open a CIMB bank account in Singapore, you must provide the following documents:
- A valid form of identification, such as a Singapore NRIC or passport for foreigners
- Proof of address, such as a utility bill or bank statement issued within the last three months
- A completed account opening form
- For foreigners, a valid work permit or employment pass
When applying online, you will need to upload scanned copies of the required documents. If you are applying in person, you will need to bring the original documents for verification purposes.
The minimum initial deposit required to open a CIMB bank account in Singapore is $1,000. However, some accounts may have a higher minimum initial deposit requirement. Therefore, it is advisable to check the minimum initial deposit requirement for the specific account you wish to open.
In addition, you may be required to sign an indemnity form if you are opening a joint account or if you are a foreigner opening a non-resident account.
Overall, opening a CIMB bank account in Singapore is a simple and hassle-free process as long as you meet the eligibility criteria and have the necessary documents.
Managing Your Account
As a CIMB Bank Singapore account holder, you have access to a range of tools and services that make managing your account easy and convenient. Here are some of the ways you can manage your account:
CIMB Clicks Online Banking
CIMB Clicks is an online banking platform that allows you to manage your account from anywhere, at any time. With CIMB Clicks, you can check your account balance, view your transaction history, transfer funds, and pay bills. You can also set up alerts to notify you of important account activity, such as when your account balance falls below a certain amount.
Deposit and Withdrawal Options
CIMB Bank Singapore offers several deposit and withdrawal options to make it easy for you to manage your money. You can make deposits and withdrawals at any of our branches, or use one of our many ATMs located throughout the city. You can also deposit funds into your account using a telegraphic transfer or Wise transfer.
First-party fund-in
As a CIMB Bank Singapore account holder, you can easily deposit funds into your account using a first-party fund-in. This means that you can transfer funds from another CIMB Bank account into your own account, without incurring any fees.
Accrued Daily, Credited Monthly
Your account balance earns interest on a daily basis, which is then credited to your account at the end of each month. This means that you can watch your savings grow, knowing that you are earning interest every day.
Cheque Books and ATM Card
When you open an account with CIMB Bank Singapore, you will receive a cheque book and an ATM card. Your cheque book allows you to make payments and withdrawals using cheques, while your ATM card allows you to withdraw cash and make purchases at merchants that accept debit cards.
Telegraphic Transfer and Digital Token
If you need to transfer funds to another bank or financial institution, you can do so using a telegraphic transfer. This is a fast and secure way to transfer funds, and is available to all CIMB Bank Singapore account holders. To ensure the security of your transactions, we use a digital token to authenticate your transfers.
Managing your CIMB Bank Singapore account is easy and convenient, thanks to our range of tools and services. With CIMB Clicks, deposit and withdrawal options, and a range of other features, you can stay in control of your finances and watch your savings grow.
Additional Financial Services
As a CIMB customer in Singapore, you have access to a range of additional financial services to help you manage your finances effectively. These services include investment and currency options, as well as loan and insurance products.
Investment and Currency Options
CIMB offers a variety of investment products to help you grow your wealth. You can choose from a range of investment options, including foreign currency fixed deposits, dual currency investments, and structured deposits. These investment products are designed to give you the flexibility and control you need to manage your finances effectively.
If you need to manage your foreign currency deposits, CIMB offers a range of options in MYR and SGD. You can also take advantage of CIMB’s foreign exchange services to manage your currency conversion needs. CIMB provides competitive exchange rates, so you can be sure you’re getting the best value for your money.
Loan and Insurance Products
CIMB also offers a range of loan and insurance products to help you manage your finances. Whether you need a personal loan to finance a big purchase or a travel insurance policy for your next trip, CIMB has you covered.
CIMB’s personal loan products are designed to help you meet your financial needs, with competitive interest rates and flexible repayment terms. You can also take advantage of CIMB’s Travelease product, which provides travel financing and insurance in one convenient package.
With CIMB’s insurance products, you can protect yourself and your family against unexpected events. CIMB offers a range of insurance products, including life insurance, health insurance, and travel insurance. You can choose the coverage that meets your needs and budget, so you can have peace of mind knowing you’re protected.
In conclusion, CIMB Bank offers a range of additional financial services to help you manage your finances effectively. Whether you need investment and currency options or loan and insurance products, CIMB has you covered. With competitive rates and flexible terms, you can be sure you’re getting the best value for your money.
Promotions and Rewards
If you’re looking to open an account with CIMB Bank Singapore, you’ll be glad to know that they offer a range of promotions and rewards to help you get the most out of your banking experience.
One of their most popular promotions is the CIMB Lunar New Year Savings 2024 Promotion. By opening a CIMB FastSaver Account or CIMB StarSaver Account and depositing fresh funds, you can enjoy Bengawan Solo vouchers worth $20 and an additional cash credit of $48 when you deposit a minimum of $5,000 and maintain it for three months. Simply enter the promo code “
But that’s not all. CIMB Bank Singapore also offers a range of other promotions, such as high interest rates and free holidays for saving, unlimited cashback and voucher rewards for referrals, and more. Check their website regularly to stay updated on the latest promotions.
It’s worth noting that CIMB Bank Singapore is a member of the Singapore Deposit Insurance Corporation (SDIC), which means that your deposits are insured up to $75,000 per depositor per Scheme member. This provides peace of mind and reassurance that your money is safe with CIMB Bank Singapore.
Additionally, if you’re looking to plan for your retirement, CIMB Bank Singapore offers a Supplementary Retirement Scheme (SRS) account. This is a voluntary scheme that allows you to save for your retirement while enjoying tax benefits. With a CIMB SRS account, you can enjoy competitive interest rates and flexible investment options.
Overall, CIMB Bank Singapore offers a range of promotions and rewards to help you get the most out of your banking experience. Whether you’re looking to save for your future or simply want to get the best deals and discounts, CIMB Bank Singapore has got you covered.
Frequently Asked Questions
What documents are required to open an account with CIMB in Singapore?
To open an account with CIMB in Singapore, you will need to provide your NRIC or passport, proof of address (utility bill, bank statement or government-issued letter) and your employment pass or work permit if you are a foreigner.
How can I open a CIMB FastSaver account?
You can open a CIMB FastSaver account online by visiting the CIMB website and filling out the application form. You will need to provide your personal details and upload the required documents. The process takes less than 10 minutes, and you will receive your account number via email.
What is the minimum initial deposit for a new CIMB account in Singapore?
The minimum initial deposit for a new CIMB account in Singapore is $1,000 for a current account and $0 for a savings account.
Are there any account opening fees for a CIMB bank account in Singapore?
No, there are no account opening fees for a CIMB bank account in Singapore.
Can foreigners open a CIMB account in Singapore, and what are the conditions?
Yes, foreigners can open a CIMB account in Singapore, provided they have a valid work permit or employment pass. They will also need to provide their passport and proof of address.
Is it possible to open a CIMB savings account entirely online?
Yes, it is possible to open a CIMB savings account entirely online. You can visit the CIMB website and fill out the application form. You will need to provide your personal details and upload the required documents. The process takes less than 10 minutes, and you will receive your account number via email.