SINGAPORE (July 1): CIMB Bank Singapore has launched an online SGD fixed deposits (SGD FD) application service for all its new customers.

The CIMB Fast Fixed Deposit service is the first online application for SGD FD in Singapore.

With this new application, CIMB customers need not physically head down to the bank’s branch to apply for a SGD FD account. Instead, they can fill up an online application form from the comfort of their home, and an SGD FD account together with a CIMB FastSaver (online savings) account will be opened.

The CIMB FastSaver account will be used to facilitate the crediting and debiting of funds to and from the SGD FD account.

Single applicants can then proceed to make transfers from their accounts with other banks in Singapore to their CIMB FastSaver account for placements into their CIMB Fast Fixed Deposits accounts.

However, joint applicants will both have to make transfers from their respective individual accounts with other banks locally to go through the same process.

In conjunction with the launch, CIMB has introduced exclusive online promotional rates, for their three-months, six-months and 12-months SGD FD from July 1 to July 31, 2018 for all CIMB Fast Fixed Deposit customers.

In addition, as part of a series of enhancements that CIMB is undertaking, its existing customers with CIMB Clicks Internet Banking were among the first to enjoy the promotional rates from June 17 onwards, allowing them to place new SGD Fixed Deposits or adjust their maturity instructions.

This gathered a positive response and Mak Lye Mun, country head, Singapore, and CEO of CIMB Bank Singapore believes that the new customers would find this service just as attractive.

“In today’s time-starved landscape, people are constantly looking for services that are convenient, fast and efficient. Recognising this change in how our clients are banking with us, CIMB is moving towards adopting a technology-based way of banking so that customers can do it anywhere, anytime at their convenience,” says Mak.