By Victoria “NIKE” De Dios
Oftentimes than not, many fall into the trap of penny wise, pound foolish. Like being mindful of saving small amounts of money, rather than thinking of being financially responsible and think of saving for rainy days.
Many admit that in their e-wallets money is just parked there, waiting to be used to buy something or to use the e-wallet for convenience such as paying bills, groceries, and other stuff that one wants to buy, unmindful of the potential of earning even a little from savings.
CIMB Bank Philippines announces its latest high-interest offer from May 1 to June 30, 2024, that can earn as high as 15% per annum (p.a.) interest with CIMB’s Red Hot Promo.
The Current UpSave and GSave account holders as of March 31, 2024, are eligible to earn up to 15% p.a. interest on their savings for May, while accounts opened by April 30, 2024, are eligible to join the promo for June. Valid accounts are automatically qualified to earn 4% p.a. interest simply by maintaining their balance, and can continue earning additional interest through the following steps:
- Earn +2% p.a. by growing your total average daily balance (ADB) by at least ₱5,000 compared to the previous month’s ADB
- Earn +2% p.a. by spending a total amount of at least ₱5,000 using your Virtual Debit Card
- Earn +3% p.a. by spending a total amount of at least ₱50,000 using your Virtual Debit Card
- Earn +4% p.a. by growing your Total ADB by at least ₱50,000 compared to the previous month’s ADB.
All additional interest rates are applicable to the total ADB of up to ₱200,000 and are also inclusive of other promos. Terms and conditions apply.
For those who do not have CIMB account yet, opening one is easy and it only takes 10 minutes to open an UpSave account via the CIMB mobile app, which is available on the App Store and on Google Play. You can also open a GSave account via the GCash app. Filipino citizens who are at least 18 years of age only need one valid ID and you can already apply. The full list of valid IDs can be found on the CIMB website.
Savings account is also more than just a safe place to keep your hard-earned money. Simply maintain an ADB of at least PHP 5,000 to get free life insurance coverage with your CIMB account. You can also enjoy free and fast activation of your CIMB Virtual Debit Card, which you can use to transact online. Just link your account to the CIMB PH app to activate your Virtual Debit Card. Money transfers for free via InstaPay as well.
What are you waiting for? Don’t be a penny wise and pound foolish! Let your savings reach an all-time high with CIMB. Access the full mechanics at cimbbank.com.ph/en/promotions/promotions/red-hot-promo.htmlÂ