CIMB introduces new deposit account- the Money Multiplier (I like the name!). Investor can temporarily park their money in the Money Multiplier until they’ve found a better vehicle to invest in.

CIMB unveils new deposit account

THE CIMB group has unveiled a new deposit account, called Money Multiplier, targeted mainly at the country’s growing fixed deposit market.

The new product is said to offer among the highest daily interest rates linked to Bank Negara’s overnight policy rate, or up to 3% per annum on the balance in the customer’s account, according to head of the CIMB group retail banking Peter England.

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