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CIMB Bank

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About bank

Commerce International Merchant Bankers Berhad is a native ASEAN investment bank with 1,080 locations across the region. CIMB has a sizable retail branch network. Consumer banking, wholesale banking, investment banking, and corporate banking comprise most of the group's commercial operations. The group conducts business as CIMB Investment Bank, CIMB Bank, CIMB Islamic, CIMB Niaga, CIMB Securities International, and CIMB Thai, among other organizations.

CIMB Group is one of the ASEAN banks and the leading providers of corporate advisory services in the area. It is also one of the leading Islamic financing firms globally. The group, which has its corporate office in Malaysia's Kuala Lumpur, provides products and services in the banking sector by serving consumers, businesses, and investors. It also provides unique products like Islamic banking and asset management. In terms of asset, it is the fifth-largest banking company in ASEAN, and as of March 2022, it employs about 33,000 people, who serve more than 18 million clients across the country.

The establishment of CIMB's presence throughout ASEAN has reached its tenth. The last geographic milestone with the establishment of CIMB Bank Philippines Inc. CIMB Bank Philippines, which was launched in December 2018 and had its headquarters in Bonifacio Global City in Metro Manila, has played its part with other financial institutions by revolutionizing the Filipino banking experience with its all-digital, mobile-first bank. It offers 24/7 secure and safe banking, bank account opening through smartphones in just 10 minutes, one of the better interest rates available for savings accounts, no merchant fees, no preliminary deposit or minimum balance criteria, and practical deposit and withdrawal options.

Features

CIMB offers services like:

  1. Consumer banking. In the Philippines, CIMB Bank offers complete consumer banking services. The following divisions make up consumer banking:
    • Consumer sales and distribution, which is in charge of managing the sales network, including the mobile sales teams and branches.
    • Retail financial services; most retail banking services and business banking products are provided through it.
    • Commercial banking, which oversees SMEs and medium-sized businesses.
    • Group cards and personal financing manage the portfolio of personal loans and credit card businesses.
  2. Wholesale banking. Investment banking and corporate banking and treasury and markets are the two areas that make up the wholesale banking industry. Corporate client solutions, which cater to the bank's institutional and corporate clients and sector specialists in real estate and agribusiness, make up investment banking. The advisory business includes corporate finance and project advisory, among other services. While corporate banking, treasury, and markets are in charge of transaction banking, markets, sales, and trading activities for the company in areas including interest rates, credit, and foreign exchange.
  3. Strategic investments and organizational strategy. Private equity, group strategy, and strategic investments make up this service. The division is in charge of carrying out the bank's efforts in significant local markets.
  4. Islamic banking. CIMB Islamic is the global Islamic banking and finance franchise of the CIMB Bank. It operates concurrently with the group's universal banking business and provides a complete range of Shariah-compliant financial solutions.

Pros and cons

Although CIMB Bank provides a wide range of services and goods, it also has advantages and downsides, which are discussed below.

Pros

  • With CIMB Bank, you can safely store your belongings without worrying about theft.
  • They offer a good number of quick personal loans.
  • Most of their services are online, so there is no worry about long queues and hassles.

Cons

  • They charge higher fees and rates compared to competitors.
  • Online banking makes it much easier for someone else to access your information.

Products

The bank offers a good number of savings and lending products. They are:

  • UpSave. With this savings account from the bank, you can grow your savings with and earn up to 2.5% interest rate per annum.
  • Fast Plus account. This is a savings account that can be opened in just 10 minutes through your mobile phone. It also has a debit card.
  • GSave account. With this savings account, you get an interest rate of up to 2.5% per annum. Opening an account is easy and straightforward, and you don't need to have any peso in your account to do so.
  • Personal loan. You can get a loan of up to ₱1m with the CIMB Bank personal loan, application is also fast and easy - you can get your loan approved in just 10 minutes.
  • GCredit. GCredit is a mobile credit line that you can use to pay for goods and services at businesses that accept the GCash QR code, purchase online at specific e-commerce stores, or pay bills using the Pay bills feature. You can obtain a credit line of up to ₱10,000 at a monthly interest rate of just 1%.
  • REVI Credit. REVI Credit is a unique, all-in-one revolving credit line that gives Filipinos quick access to finance and financial freedom. Additionally, you can use your credit line to pay bills and transfer balances through the CIMB Bank PH app. You can receive a credit line with a maximum of ₱250,000 and interest rates as low as 1% monthly.

CIMB bank

FAQ

Who owns the CIMB Bank?

With a 30% holding, government investment fund Khazanah Nasional is the bank's largest stakeholder. Second is Mitsubishi UFJ Financial Group, which owns 5%.

Is CIMB Bank a legitimate bank?

Yes. CIMB Bank is a Philippine Deposit Insurance Corporation member and is subject to regulation by the Bangko Sentral ng Pilipinas.

Company documents

Privacy Notice

We are committed to advance the transformation of the banking landscape and promote financial inclusion in the Philippines. 

© CIMB BANK PHILIPPINES, INC.

Financial products

CIMB Bank
REVI Credit
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to ₱250,000
Rate
i

Effective interest rate on the product

1% - 5% per month
CIMB Bank
GCredit®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to ₱30,000
Rate
i

Effective interest rate on the product

3% - 5% per month
CIMB Bank
Personal Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱30,000 - ₱1,000,000
Rate
i

Effective interest rate on the product

24% - 36% per year
Term
i

Loan term for the financial product

12 - 60 months
CIMB Bank
GSave Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

no initial deposit required
Rate
i

Effective interest rate on the product

2.6% per year
CIMB Bank
Fast Plus Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

no initial deposit required
Rate
i

Effective interest rate on the product

0.5% per year
CIMB Bank
UpSave Account
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

no initial deposit required
Rate
i

Effective interest rate on the product

2.5% per year
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