The interest rate annually in GSave by CIMB is 2.6% with no minimum deposit and no maintaining balance.
*PROMO: From December 1 to 31, 2022, first time depositors who opened a new GSave account will be rewarded an 8% p.a. interest rate for the first P200,000 Average Daily Balance for the first two months.
Month eligible for 8% p.a. NTB Promo: December onwards
To calculate interest amount = (ADB x Incremental Interest Rate x Number of days in a month) / 360) x [1- Withholding Tax (20%)]
Sample computation eligible for 8% p.a.
|Incremental Interest Rate:||5.4% p.a. (8% p.a. less base rate of 2.6% p.a.)|
|Number of days in a month:||31|
|Net Interest Earn:||(10,000 x 0.054 x 31) / 360 x 0.8 = Php 37.20|
Note: The additional interest earned will be credited to their respective GSave Account within fourteen (14) business days after each qualifying month. It will be in the form of account credit on top of the regular monthly base interest pay out of 2.6% p.a.