How much is the interest rate in GSave by CIMB?
Note: Please be informed that CIMB will discontinue the Free Life Insurance feature of your GSave account effective May 1, 2023. However, this benefit will still be available to you until April 30, 2023 if you maintain a monthly Average Daily Balance of PHP 5,000 in your account until March 2023.
The interest rate annually in GSave by CIMB is 2.6% with no minimum deposit and no maintaining balance.
Example Scenario:
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.
| ADB: | 10,000 |
| 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.