CIMB Bank Singapore launches high interest and multi-feature current account for businesses

Published on 28 February 2017
944 Views
Print

CIMB Bank Singapore launches high interest and multi-feature current account for businesses

5 min read

CIMB Bank Singapore announced the launch of CIMB BusinessGo. Targeting small and medium-sized enterprises (SMEs), CIMB BusinessGo ups the ante with a comprehensive current account that packs a slew of features that meets the operational needs of businesses minus the high transactional costs that characterise the industry.

In the current subdued economic climate where businesses are faced with high operating costs, the launch of CIMB BusinessGo is timely as it aims to assist enterprises in their efforts to further their ambitions while effectively managing their cash flow. This runs in close concurrence to the Singapore government’s continued efforts to offer near-term support to aid businesses here.CIMB BusinessGo raises the bar with a high base interest rate of 0.78%, which applies to the entire account balance with a minimum monthly average balance of S$30,000. That’s not all. A bonus interest rate of 1.10% can be earned on the first S$100,000 when companies meet the single criteria of performing more than S$20,000 of outward telegraphic transfers in a calendar month. In today’s low interest rate environment, CIMB BusinessGo is clearly head and shoulders above the competition.

Ng Wee Lee, Head of Commercial Banking at CIMB Bank Singapore said, “As the economy undergoes deep shifts that will bring about new challenges, businesses increasingly need a banking partner that understands their needs intimately to help them keep costs down and remain competitive. CIMB BusinessGo is how CIMB Bank provides true value to enterprises with a current account that offers high interest rates and a suite of product features aimed at addressing transactional costs – a quintessential solution to the operational demands of businesses today.”

Apart from offering superior interest rates, CIMB BusinessGo also challenges market norms by offering fee waivers and rebates on many commonly-charged transactions such as telegraphic transfers, payroll, GIRO, cheques and even Bank Guarantees.

Re-disseminated by The Asian Banker