CIMB Bank PH Unveils New Savings for OFWs, with Interest Rates of Up to 15%

CIMB Bank Philippines, the country's most-awarded digital-only commercial bank, has proudly launched a new offering that marks its entry into a new customer sector that appeals to millions of Filipinos. ​

Present during the unveiling were Deputy Prime Minister of Malaysia, The Right Honorable Dato’ Seri Dr. Ahmad Zahid Hamidi, Ambassador of Malaysia to the Philippines, His Excellency Dato’ Abdul Malik Melvin Castelino Anthony, Department of Migrant Workers Secretary Hans Leo Cacdac, and Department of Foreign Affairs Usec. Eduardo De Vega, and CIMB Bank PH CEO Vijay Manoharan.

The pioneering online-only bank, which has its roots in Malaysia, introduced CIMB Kababayan, its latest financial service tailored exclusively for overseas Filipinos, in the presence of Malaysian government leaders.

CIMB Bank PH is the local branch of the Malaysian-headquartered CIMB Group, a universal bank and ASEAN's fifth largest banking group.

​CIMB Kababayan is a historic offering that provides overseas Filipinos with the banking experience they deserve. For the first time, overseas Filipinos can open a CIMB savings account on the CIMB mobile app in less than 10 minutes, earn high interest rates of up to 15% with no minimum balance requirement, pay bills, and receive free Instapay transfers. Transferring funds from abroad will also be made easier with the debut of the CIMB PH remittance service.

The launch of CIMB Kababayan is consistent with CIMB's objective of delivering accessible and convenient digital-only financial services, reaffirming its position as a trusted banking partner for Filipinos wherever in the world.

​With 8.5 million depositors and 3.5 million loan customers, the bank remains committed to disrupting the local banking system and changing how Filipinos experience banking, while also advancing financial inclusion to guarantee that more Filipinos have simple and quick access to banking services. CIMB Bank PH continues to grow its footprint through industry-leading embedded banking partnerships, making its financial services easily accessible in customers' most popular mobile apps.