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Important Notice:

Change of instalment due date from 1st to 4th of every month for Loan / Financing Accounts under Retail Products.

 

Date: 10/03/21 

 

Dear Valued Customers,

 

We wish to inform you that CIMB will be strengthening its adherence to an existing regulatory requirement governing credit facilities, with respect to the method of calculating overdue payments.  This entails changing the payment due date for your account from the 1st to the 4th of every month effective April 2021.

The table below lists the changes and impact of such changes to your account:

 

 

No

Description

Current

Revised

1

Instalment due date

1st day of every month

4th day of every month

2

Interest/Profit due date

1st day of every month

4th day of every month

3

Monthly instalment amount

Remains unchanged

4

To facilitate this change, the interest/ profit for the 3 days in April (1st -3rd April 2021) will be calculated and may appear as a bullet payment towards the end of your financing tenure. Your account maturity date will be extended by 3 days.

 

5

Mode of Payment

A. Existing Direct Debits (setup at the branch) and Salary Deduction Arrangements

•   We will automatically debit the instalment from your account on the 4th of every month starting April 2021. No action is required on your part.

 

B. Existing Standing Instructions

•   If you have a scheduled payment on CIMB Clicks, please login to CIMB Clicks to update your scheduled payment date. 

•   If you have standing instructions with other financial institutions, please update your instructions with them.

 

Please note that other than the above changes, all other terms and conditions in the existing Facility and security documents shall remain in full force and effect. The Bank’s existing rights, powers and remedies under the said documents shall not be affected.

 

For more information, refer to our Frequently Asked Questions available below.

Note: This is not applicable to Overdraft, Conventional Flexi Loans, Home Loan Fortnightly, accounts with other due dates and existing customers of Auto Loan/Financing.

 

 

 

Frequently Asked Questions

 

 

 

Thank you.

 

The Management

CIMB Bank Berhad & CIMB Islamic Bank Berhad