CIMB Singapore Offers 1.88 Per Cent Interest Via BusinessGo

By Massita Ahmad SINGAPORE, March 1 (Bernama) -- CIMB Bank Singapore has offered interest up to 1.88 per cent for its new CIMB BusinessGo multi-featured current account. In a statement Wednesday, Ng Wee Lee, Head of Commercial Banking CIMB Bank Singapore, said the current account targeted small- and medium-sized enterprises (SMEs) and strived to meet the business operational needs minus the high transactional costs that characterised the industry. "Businesses need a banking partner to understand their needs and help to lower costs and remain competitive as the economy undergoes deep shifts that brings about new challenges," she said. Ng said CIMB BusinessGo provided true value to enterprises, with a current account that offered high interest rates and a suite of product features, aimed at addressing transactional costs – a quintessential solution to the operational demands of businesses today. The bank said the launch was timely as it aimed to help enterprises in efforts to further their ambitions while effectively manage cash flow. "This runs in close concurrence to the government's continued efforts to offer near-term support to aid businesses here," it said. CIMB BusinessGo raised the bar with to 0.78 per cent interest on the account balance with a minimum monthly average required balance of S$30,000 (S$1 = RM3.15). A bonus of 1.10 per cent interest can be earned on the first S$100,000 if companies performed more than S$20,000 outward telegraphic transfers in a calendar month. Apart from its superior interest rates, CIMB BusinessGo also offered fee waivers and rebates on many commonly charged transactions such as telegraphic transfers, payroll, GIRO, cheques and even bank guarantees. --BERNAMA