CIMB Bank PH Launches Savings Starter Pack with FREE P50K Personal Accident Insurance

CIMB Bank Philippines launched its Savings Starter Pack to encourage the youth to start their savings journey.

By just depositing P500 on their UpSave or GSave Account every month, customers aged 18 – 25 can enjoy 4% interest rate p.a. coupled with FREE P50,000 personal accident insurance coverage.

“We believe that anyone, especially the youth segment, can achieve financial freedom and reach their life goals. And the key is to start their savings journey early and this is why we are encouraging all youths to start their saving journey early, as it really makes a huge difference. With our unique digital and platform banking model allows us to provide real value by changing the banking experience of every Filipino through an all-digital experience coupled with market-leading savings product features all enabled digitally via smartphone.” said Vijay Manoharan, chief executive officer of CIMB Bank Philippines.

Customers will have two months to qualify as the promo runs from November 1 to December 31, 2020. This promo is open only for customers ages 18-25 years old as of November 1, 2020 with active UpSave/Gsave account/s and have ended the month with less than PHP100,000 total relationship balance after every qualifying period.

Customers above 25 years old can still enjoy 4% p.a. interest by either increasing their average daily balance by P1,000 in their UpSave or GSave Account every month, or by maintaining P100,000 in their UpSave or GSave Account. Customers who maintain P100,000 in their UpSave or GSave Account is qualified to receive a FREE insurance coverage equivalent to their average daily balance up to P1,000,000.

CIMB Bank Philippines is able sign-in over 3 million customers and is able to grow its personal loans and deposits by 500% – 600% respectively in just the past 10 months.

Recently, CIMB Bank Philippines has been recognized as the Digital Bank of the Year by Asia Capital Market Awards 2020 and as The Philippines Best Employer Brand Awards 2020 by The Employer Branding Institute and World HRD Congress, allowing The Bank to secure a total of 21 awards in 21 months making it the most awarded digital bank in the Philippines.