If you’re looking to open a bank account in Singapore, CIMB offers a range of account options to suit your needs. CIMB is a leading ASEAN bank with a strong presence in Singapore, and their online banking platform, CIMB Clicks, makes it easy to manage your account from anywhere in the world. In this article, we’ll take a closer look at the eligibility requirements, account types and features, application process, banking services, and fees and charges associated with opening a CIMB account in Singapore.
To open an account with CIMB in Singapore, you’ll need to meet certain eligibility requirements. These include being at least 18 years old, having a valid Singaporean or Permanent Resident identification card, and meeting the minimum deposit requirements for the account type you’re interested in. CIMB offers a range of account options to suit different needs, including savings accounts, current accounts, and fixed deposit accounts.
Once you’ve determined which account type is right for you, the application process is straightforward and can be completed online. You’ll need to provide some personal and financial information, as well as proof of identification and address. Once your application is approved, you’ll be able to access a range of banking services through CIMB Clicks, including online bill payment, fund transfers, and account management.
Key Takeaways
- CIMB offers a range of account options to suit different needs, including savings accounts, current accounts, and fixed deposit accounts.
- To open an account with CIMB in Singapore, you’ll need to meet certain eligibility requirements, including being at least 18 years old, having a valid Singaporean or Permanent Resident identification card, and meeting the minimum deposit requirements for the account type you’re interested in.
- The application process is straightforward and can be completed online, and once your application is approved, you’ll be able to access a range of banking services through CIMB Clicks, including online bill payment, fund transfers, and account management.
Eligibility and Requirements
If you’re interested in opening a CIMB account in Singapore, you must meet certain eligibility criteria and provide relevant documentation.
Identification Documentation
To open a CIMB account, you’ll need to provide valid identification documentation. This could be your National Registration Identity Card (NRIC) for Singapore citizens and Permanent Residents, or your passport for foreigners.
Residency Status
CIMB allows both Singaporeans and foreigners to open accounts with them. However, there may be different requirements for each. For example, foreigners may need to provide additional documentation such as proof of residence or employment in Singapore.
Age Criteria
To open an account with CIMB, you must be at least 16 years old. If you’re under 16, you may still be able to open an account with a parent or legal guardian.
In addition to these general requirements, CIMB may also require you to complete Know Your Customer (KYC) and Electronic-Know Your Customer (E-KYC) procedures. This is to ensure that you are who you say you are and to prevent fraud.
Overall, opening an account with CIMB in Singapore is a straightforward process as long as you meet the eligibility criteria and provide the necessary documentation.
Account Types and Features
If you’re looking for a savings account that offers great interest rates and flexible features, CIMB Singapore has got you covered. Here are some of the account types and features you can choose from:
CIMB FastSaver Account
The CIMB FastSaver Account is a savings account that offers one of the highest interest rates in Singapore. With no minimum balance requirement, you can start saving today without worrying about maintaining a certain amount in your account. This account is perfect for those who want to earn high interest rates while keeping their funds liquid and easily accessible. You can manage your account anytime, anywhere with CIMB Clicks Internet Banking.
CIMB StarSaver (Savings)-i Account
If you’re looking for a Shariah-compliant savings account, the CIMB StarSaver (Savings)-i Account is the perfect choice for you. This account offers competitive profit rates and no minimum balance requirement. You can access your funds easily with CIMB Clicks Internet Banking and over 6,000 CIMB ATMs regionally and any PLUS ATM globally. This account is suitable for those who want to save while adhering to Shariah principles.
OctoSavers Account-i
The OctoSavers Account-i is a savings account that offers high interest rates and no minimum balance requirement. This account is perfect for those who want to earn interest on their savings and have the flexibility to withdraw their funds anytime. With CIMB Clicks Internet Banking, you can manage your account easily and conveniently.
Overall, CIMB Singapore offers a variety of savings accounts with different features to suit your unique needs. Whether you’re looking for a high-interest savings account or a Shariah-compliant account, CIMB Singapore has got you covered. With CIMB Clicks Internet Banking, you can manage your accounts anytime, anywhere. So why wait? Start saving with CIMB Singapore today!
Application Process
Opening a CIMB account in Singapore is a quick and easy process that can be completed entirely online. The application process is designed to be user-friendly, with clear instructions and prompts to guide you through each step.
Online Application
The first step in opening a CIMB account is to complete the online application form. This fully online application process can be completed in less than 10 minutes, making it a quick and convenient option for busy individuals. During the application process, you will be asked to provide some basic personal information, such as your name, contact details, and identification documents.
To ensure the security of your account, CIMB uses digital token and e-signature technologies to verify your identity and sign your application form. This means you can complete the entire application process from the comfort of your own home, without the need to visit a physical branch.
Account Verification
After submitting your application form, you will receive an activation code via email or SMS. This code is used to activate your account and verify your identity. Once you have activated your account, you can start using your CIMB debit card and online banking services immediately.
To ensure the security of your account, CIMB may require additional verification steps, such as a video call or additional documentation. These verification steps are designed to protect your account from fraud and ensure that only you have access to your funds.
Overall, opening a CIMB account in Singapore is a simple and straightforward process that can be completed entirely online. With digital token and e-signature technologies, you can be confident that your account is secure and protected. So why wait? Start your application today and enjoy the benefits of a CIMB account in Singapore.
Banking Services
If you’re looking to open an account with CIMB Singapore, you will be pleased to know that you will have access to a range of banking services that will make your life easier. Here are some of the services that you can expect to receive:
CIMB Clicks Internet Banking
CIMB Clicks is an internet banking service that allows you to manage your account online. With CIMB Clicks, you can check your account balance, transfer funds, pay bills, and more. You can even access CIMB Clicks from your mobile phone or tablet, making it easy to manage your finances on the go.
Debit Card and Cheque Book
When you open an account with CIMB Singapore, you will receive a debit card and cheque book. Your debit card can be used to withdraw money from ATMs and make purchases at merchants that accept Visa. Your cheque book can be used to make payments to people and businesses that do not accept electronic payments.
Bill Payment and Funds Transfer
CIMB Singapore offers a range of bill payment and funds transfer services that will make it easy for you to manage your finances. You can pay your bills online using CIMB Clicks, or you can set up automatic payments so that your bills are paid on time every month. You can also transfer money to other CIMB accounts or to accounts at other banks using telegraphic transfer.
Overall, CIMB Singapore offers a range of banking services that will make it easy for you to manage your finances. Whether you are looking to check your account balance, transfer funds, pay bills, or make purchases, CIMB Singapore has you covered. So why not open an account today and start enjoying the benefits of banking with CIMB Singapore?
Fees and Charges
Opening a CIMB account in Singapore is easy and hassle-free. However, it is important to note that there are certain fees and charges that come with maintaining and using your account. Here is a breakdown of the fees and charges you can expect:
Monthly Fee
CIMB charges a monthly fee of $1 for its Basic Savings Account. This fee is waived if you opt out of paper statements. For the FastSaver Account, there is no monthly fee.
Service Charge
CIMB imposes a service charge of $2 per month for its Basic Current Account. This fee is waived if you maintain a minimum balance of $1,000. For the FastSaver Account, there is no service charge.
Fees and Charges
CIMB has a range of fees and charges for various services. Here are some of the most common fees and charges:
- Early account closure fee (for accounts closed within 6 months): $50
- Excess limit fee (for exceeding the daily withdrawal limit): $5
- Cheque book issuance fee: $10
- ATM card replacement fee: $10
- Stop payment instruction fee: $10
- Returned cheque fee: $50
- Dormant account fee (for accounts with no activity for more than 12 months): $2 per month
It is important to note that these fees and charges are subject to change. You can check CIMB’s website for the latest fees and charges.
Frequently Asked Questions
What documents are required for a foreigner to open an account with CIMB in Singapore?
To open an account with CIMB in Singapore, you will need to provide a few documents. As a foreigner, you will need to provide your passport, employment pass, and proof of residential address. If you are a student, you can provide your student pass instead of an employment pass.
Is it possible to open a CIMB account in Singapore entirely online?
Yes, you can open a CIMB account in Singapore entirely online. To do so, you will need to visit the CIMB website and provide the necessary information. The process is simple and straightforward, and you can complete it in just a few minutes.
What’s the minimum deposit needed to initiate a CIMB account in Singapore?
The minimum deposit required to open a CIMB account in Singapore is $1,000. This deposit is required to initiate your account and start earning interest on your savings.
How can I set up a CIMB FastSaver account?
To set up a CIMB FastSaver account, you will need to visit the CIMB website and provide the necessary information. This account is Shariah-compliant and offers online services for Zakat & Wakaf Ilmu payments. You can start earning interest on your savings immediately after opening the account.
Are there any fees associated with opening a CIMB account?
No, there are no fees associated with opening a CIMB account in Singapore. However, there may be fees associated with certain services or transactions, such as ATM withdrawals or international transfers. Be sure to check the CIMB website for more information on fees and charges.
How do I schedule an appointment to open an account with CIMB Singapore?
You can schedule an appointment to open an account with CIMB Singapore by visiting the CIMB website and selecting the “Book an Appointment” option. You can choose a date and time that works best for you, and a CIMB representative will be in touch to confirm your appointment.
Opening a CIMB account in Singapore is a simple and straightforward process. With a minimum deposit of just $1,000, you can start earning interest on your savings and take advantage of the many services and benefits offered by CIMB.