3.1     Interest at such rates as the Bank may specify shall be paid on the FD Account in accordance with the prevailing practice of the Bank. Notification of the interest rates and any changes to the deposit rates by the Bank will be prominently displayed at the website and made available at Bank’s Banking Halls.

3.1         Interest at such rates as the Bank may specify shall be paid on the FD Account in accordance with the prevailing practice of the Bank. Any revision to the interest rates will be notified by the Bank in accordance with the clause 20.

3.2     Early upliftment and/or withdrawal of full or partial amounts in the FD Account in such prescribed amounts stipulated by the Bank in its website before maturity is allowed, except for online placement of fixed deposit via CIMB Clicks (eFD) where partial upliftment and/or withdrawal is not permitted. Payment of interest will be reduced, adjusted or forfeited as a result of early upliftment and/or withdrawal in accordance with the Bank’s prevailing practice as follows:

i. For FD placement/renewal from 1 November 2018 onwards: No interest will be paid for the withdrawn amount of any FD of any tenure before completion of its tenure. For partial withdrawal, interest based on contracted rate will still be paid on the amount that is not withdrawn.

ii. For FD placements/renewals prior to 1 November 2018:

a. For FD of 1 month, 2 months or 3 months tenure no interest will be paid for the withdrawn amount before completion of its tenure. For partial withdrawal, interest based on contracted rate will still be paid for the amount that is not withdrawn;

b. For FD of 4 months and above that is fully or partially withdrawn before the completion of 3 months, no interest will be paid for the withdrawn amount before completion of its tenure. For partial withdrawal, interest based on contracted rate will still be paid for the amount that is not withdrawn.

c. For FD of 4 months and above that is fully or partially withdrawn after the completion of 3 months, interest at half of the contracted rate for each completed month of the withdrawn amount will be paid on the withdrawn amount. For partial withdrawal, interest based on contracted rate will still be paid for the amount that is not withdrawn.

3.2         Early upliftment and/or withdrawal of full or partial amounts in the FD Account in such prescribed amounts stipulated by the Bank in its website before maturity is allowed, except for online placement of fixed deposit via CIMB Clicks (eFD) where partial upliftment and/or withdrawal is not permitted. Payment of interest will be reduced, adjusted or forfeited as a result of early upliftment and/or withdrawal in accordance with the applicable interest treatment described below as follows:

i. For FD placement/renewal from 1 November 2018 onwards: No interest will be paid for the withdrawn amount of any FD of any tenure before completion of its tenure. For partial withdrawal, interest based on contracted rate will still be paid on the amount that is not withdrawn.

ii. For FD placements/renewals prior to 1 November 2018:

a. For FD of 1 month, 2 months or 3 months tenure no interest will be paid for the withdrawn amount before completion of its tenure. For partial withdrawal, interest based on contracted rate will still be paid for the amount that is not withdrawn;

b. For FD of 4 months and above that is fully or partially withdrawn before the completion of 3 months, no interest will be paid for the withdrawn amount before completion of its tenure. For partial withdrawal, interest based on contracted rate will still be paid for the amount that is not withdrawn.

c. For FD of 4 months and above that is fully or partially withdrawn after the completion of 3 months, interest at half of the contracted rate for each completed month of the withdrawn amount will be paid on the withdrawn amount. For partial withdrawal, interest based on contracted rate will still be paid for the amount that is not withdrawn.

8.3     In taking any action to freeze the FD Account under these Terms and Conditions, including returning any cheques or other instruments deposited for collection, the account holder agrees the Bank shall not be held liable for defamation and/or for breach of contract and/or for any losses damages expenses costs or charges whatsoever, regardless of whatsoever remarks which may be made by the Bank for the return. The account holder further agrees and undertakes to keep the Bank fully indemnified against any claims for damages losses expenses charges and costs (legal or otherwise including costs on a solicitor and client basis and party to party costs) which may be made against the Bank by any other person for the Bank’s action in freezing the FD Account.

8.3         In taking any action to freeze the FD Account under these Terms and Conditions, including returning any cheques or other instruments deposited for collection, the account holder agrees the Bank shall not be held liable for defamation and/or for breach of contract and/or for any losses damages expenses costs or charges whatsoever, regardless of whatsoever remarks which may be made by the Bank for the return. The account holder further agrees and undertakes to keep the Bank fully indemnified against any claims for damages losses expenses charges and costs (legal or otherwise including costs on a solicitor and client basis and party to party costs) which may be made against the Bank by any other person for the Bank’s action in freezing the FD Account unless the same is caused directly by the Bank’s fraud, negligence or willful breach.

8.4     If the Bank is sued or made a party to any suit arising out of the Bank’s action in freezing the FD Account or if the Bank before or after freezing the FD Account commences any suit (including any interpleader proceedings) against any party including the account holder, the account holder shall indemnify the Bank for all penalties losses damages claims expenses charges and costs (legal or otherwise including costs on a solicitor and client basis and party to party costs) which may be awarded by the court against the Bank or which the Bank may incur.

8.4         If the Bank is sued or made a party to any suit arising out of the Bank’s action in freezing the FD Account or if the Bank before or after freezing the FD Account commences any suit (including any interpleader proceedings) against any party including the account holder, the account holder shall indemnify the Bank for all penalties losses damages claims expenses charges and costs (legal or otherwise including costs on a solicitor and client basis and party to party costs) which may be awarded by the court against the Bank or which the Bank may incur unless the same is caused directly by the Bank’s fraud, negligence or willful breach.

9.4     The Bank may also suspend or close the FD Account at any time to comply with any laws, court orders, regulations, sanctions and/or enactments or direction of a regulatory or enforcement authority.

9.4         The Bank may also suspend or close the FD Account at any time without prior notice to comply with any laws, court orders, regulations, sanctions and/or enactments or direction of a regulatory or enforcement authority or to prevent financial crime.

9.5         The Bank also reserves the right to uplift the FD and close any FD Account at the discretion of the Bank by giving adequate notice to the account holder. The Bank will not be responsible for any loss (including loss of interest) due to the upliftment and closure.

9.5         The Bank also reserves the right to uplift the FD and close any FD Account at its reasonable discretion by giving the account holder at least twenty-one (21) days prior written notice stating the reason for the closure, to the extent permitted by law, order, regulation or sanctions.

10.3     The joint account holders shall jointly and severally indemnify and hold the Bank harmless against losses, claims, demands, proceedings, costs, expenses and other liabilities whatsoever and whenever incurred arising from any authorization issued by any of the joint account holders.

10.3       The joint account holders shall jointly and severally indemnify and hold the Bank harmless against losses, claims, demands, proceedings, costs, expenses and other liabilities whatsoever and whenever incurred arising from any authorization issued by any of the joint account holders, unless it can be proven that these losses, claims, demands, proceedings, costs, expenses and other liabilities are caused by fraud, negligence and/or willful default of the Bank.

11.3     The Bank is irrevocably allowed to debit the FD Account by giving seven (7) days prior notice to the account holder, for any sum that had been credited into the FD account in the following situations:

(i) payments made, transferred or credited into the FD Account due to the Bank’s error and/or due to any claims by any third parties that the relevant amount had been mistakenly paid by the third party into the FD Account and/or due to any claim by the third party that he or she had been deceived, defrauded or misled into making the payment into the FD Account and/or due to any of the Bank’s operational and/or systems errors or malfunction and/or any other causes which are beyond the Bank’s reasonable control;

(ii) proceeds of cheques and/or money instruments which have been credited by the Bank into the FD Account earlier if these cheques and/or money instruments are subsequently dishonoured; and

(iii) sums credited into the FD Account due to suspected tampered instruments / instructions / fraudulent transactions, regardless of whether the account holder is involved.

11.3       The Bank shall have the irrevocable right to debit the FD Account by (a) giving seven (7) days prior notice to the account holder; or (b) immediately upon notice to the account holder, where the Bank deems it necessary to act promptly, for any sum that had been credited into the FD account in the following situations:

(i) payments made, transferred or credited into the FD Account due to the Bank’s error and/or due to any claims by any third parties that the relevant amount had been mistakenly paid by the third party into the FD Account and/or due to any claim by the third party that he or she had been deceived, defrauded or misled into making the payment into the FD Account and/or due to any of the Bank’s operational and/or systems errors or malfunction and/or any other causes which are beyond the Bank’s reasonable control;

(ii) proceeds of cheques and/or money instruments which have been credited by the Bank into the FD Account earlier if these cheques and/or money instruments are subsequently dishonoured; and

(iii) sums credited into the FD Account due to suspected tampered instruments / instructions / fraudulent transactions, regardless of whether the account holder is involved.

12.1     The Bank’s total liability to the account holder shall only be limited to actual direct loss suffered by the account holder, provided that the claim is supported by documentary evidence submitted by the account holder to the Bank. In no event will the Bank be liable to the account holder for any claim, loss, damages, penalty, charges, cost and expense suffered or incurred by the account holder in relation to the Bank complying with the Paynet Rules. The Bank will not be liable for any exemplary or punitive damages, indirect, incidental, consequential and/or secondary loss or damage, including but not limited to any loss of profit or income or savings, expectation loss, reliance loss, pure economic loss or similar loss or damage that the account holder may suffer by reason of any act or omission of the Bank, even if the Bank had been advised of the possibility of such loss or damage in advance.

12.1       The Bank’s total liability to the account holder shall only be limited to actual direct loss suffered by the account holder, provided that the claim is supported by documentary evidence submitted by the account holder to the Bank. In no event will the Bank be liable to the account holder for any claim, loss, damages, penalty, charges, cost and expense suffered or incurred by the account holder in relation to the Bank complying with the Paynet Rules. The Bank will not be liable for any exemplary or punitive damages, indirect, incidental, consequential and/or secondary loss or damage, including but not limited to any loss of profit or income or savings, expectation loss, reliance loss, pure economic loss or similar loss or damage that the account holder may suffer by reason of any act or omission of the Bank, even if the Bank had been advised of the possibility of such loss or damage in advance. Nothing in this Clause shall exclude the Bank's liability for direct financial loss caused by the Bank's own negligence or willful misconduct.

12.2     The account holder agrees to fully indemnify the Bank and hold the Bank harmless against all penalties, damages, claims, losses, costs, expenses (including legal costs on a solicitor and client basis), taxes or duties which may be incurred by the Bank in connection with any or all of the accounts whatsoever or the Bank’s execution of any instructions (notwithstanding such instructions may be fraudulent or unauthorized) unless the account holder can prove that these penalties, damages, claims, losses, costs, expenses, taxes or duties are caused by the gross negligence and/or willful default of the Bank.

12.2       The account holder agrees to fully indemnify the Bank and hold the Bank harmless against all penalties, damages, claims, losses, costs, expenses (including legal costs on a solicitor and client basis), taxes or duties arising from or which may be incurred by the Bank in connection with any or all of the accounts whatsoever or the Bank’s execution of any instructions (notwithstanding such instructions may be fraudulent or unauthorized) unless the account holder can prove that these penalties, damages, claims, losses, costs, expenses, taxes or duties are caused by the fraud, negligence and/or willful default of the Bank.

14     GOVERNING LAW

These Terms and Conditions are subject to and construed in accordance with the laws of Malaysia and the rules, regulations and guidelines of Bank Negara Malaysia, Paynet and other relevant regulatory bodies to which the Bank is subject.

14          GOVERNING LAW

14.1       These Terms and Conditions are subject to and construed in accordance with the laws of Malaysia and the rules, regulations and guidelines of Bank Negara Malaysia, Paynet and other relevant regulatory bodies to which the Bank is subject.

14.2       The availability and account holder’s operation of the FD Account and related services is conditional upon there being no breach of any prevailing laws, guidelines or regulations that may be imposed by any regulatory authority having jurisdiction over the Bank, including but are not limited to:

(i)           Financial Services Act 2013;

(ii)          Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001; and

(iii)         Malaysian Anti-Corruption Commission Act 2009.

20     RESERVATION OF RIGHTS

The Bank may vary (whether by adding to, deleting from or otherwise amending) (“Amendment”) any of these terms and conditions by giving the account holder at least twenty-one (21) calendar days’ notice before the Amendment is effective. The notice of the Amendment may be given by: (i) notice of the Amendment being displayed at the Bank’s premises and website generally and where detailed provisions regarding the Amendment may be provided to the account holder upon request or the notice may itself contain details of the Amendment; or (ii) the notice being sent by the Bank to the account holder’s last known address; or (iii) the notice being advertised in one newspaper of the Bank’s choice; or (iv) the notice being sent by electronic mail or by any other means of notification which the Bank may select and the Amendment take effect and be binding from the date specified in the notification. The account holder may close the account holder’s FD Account in accordance with Clause 9.1 if they do not agree to the Amendment.

20          VARIATION

The Bank may vary (whether by adding to, deleting from or otherwise amending) (“Amendment”) any of these terms and conditions by giving the account holder at least twenty-one (21) calendar days’ notice before the Amendment is effective, provided that such Amendment is made for (a) complying with any applicable laws, court order, regulations sanctions and/or enactments or direction of a regulatory or enforcement authority; (b) facilitating changes in the product features, business operations, processes or systems requirements of the Bank and/or its Group Companies that affect all customers of similar products; or (c) such other reasons the Bank may specify in the notice. The notice of the Amendment may be given by: (i) the notice being sent by the Bank directly to the account holder via its last known address and/or email and/or SMS; (ii) notice of the Amendment being displayed at the Bank’s branches, banking halls and on the Bank’s website generally and where detailed provisions regarding the Amendment may be provided to the account holder upon request or the notice may itself contain details of the Amendment; or (iii) the notice being advertised in one newspaper of the Bank’s choice; or (iv) the notice being sent by electronic mail or SMS or by any other means of notification which the Bank may select and the Amendment take effect and be binding from the date specified in the notification. The account holder may close the account holder’s FD Account in accordance with Clause 9.1 without any closure fee or penalty if they do not agree to the Amendment.

23     MISCELLANEOUS

The account holder may make a complaint relating to the FD Account with any Bank branch. If the account holder is not satisfied with the explanation or solution provided by the branch, the account holder may contact the Bank’s Customer Resolution Department at the following address, telephone and e-mail address (or such other address, telephone and e-mail address which the Bank notified to the account holder): Customer Resolution Unit (CRU). P.O. Box 10338, GPO Kuala Lumpur, 50710 Wilayah Persekutuan Tel: contactus@cimb.com.

23          MISCELLANEOUS

23.1       If the account holder becomes aware of any offer or giving of benefit, gratification, gift, commission or consideration by the Bank’s personnel, officer(s) or director(s), the account holder may report it in accordance with CIMB’s Whistle Blowing Policy as set out in https://www.cimb.com/en/who-we-are/overview/corporate-governance/code-of-conduct/whistle-blowing.html.

23.2       The account holder may submit a complaint relating to the FD Account to any Bank branch. If the account holder is dissatisfied with the explanation or solution provided by the branch, the account holder may contact the Bank’s Customer Resolution Department at the following address, telephone and e-mail address (or such other address, telephone and e-mail address which the Bank notified to the account holder): Customer Resolution Unit (CRU). P.O. Box 10338, GPO Kuala Lumpur, 50710 Wilayah Persekutuan Tel: +603-6204 7788 / e-mail: contactus@cimb.com. The Bank will provide progress updates and communicate a decision as soon as practicable. If the account holder remains dissatisfied with the Bank's final decision, the account holder may escalate to: Ombudsman for Financial Services (OFS) / FMOS: www.fmos.org.my / Tel: 03-2272 2811