What is the interest rate in GSave by CIMB?
The annual interest rate in GSave by CIMB is 2.6% with no minimum deposit and no maintaining balance needed.
Example Promo Scenario:
Eligible for 8% p.a. NTB promo: December onwards
Average Daily Balance (ADB) x Incremental Interest Rate x Number of days in a month) / 360) x [1- Withholding Tax (20%) = your interest
Sample computation eligible for 8% p.a.:
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.) |
| No. of days in a month: | 31 |
| Net interest to be earned | (10,000 x 0.054 x 31) / 360 x 0.8 = Php 37.20 |
Note: The additional interest earned will be credited to your respective GSave account within fourteen (14) business days after each qualifying month. You will receive your interest as account credit on top of the regular monthly base interest payout of 2.6% p.a..
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