• Conversion of CIMB StarSaver-i Accounts to New Shariah Concept

Conversion of CIMB StarSaver-i Account Shariah Concept from Wadiah Yad Dhamanah to Commodity Murabahah

With effect from 2 July 2018, our CIMB StarSaver-i checking and savings accounts will be converted to the new Shariah concept of Commodity Murabahah (mark-up).

  • Concept of Wadiah Yad Dhamanah (guaranteed safe-keeping) will no longer be in use.
  • Above exercise will not incur any fees or charges.
  • Product name for CIMB StarSaver-i and/or CIMB StarSaver(Savings)-i will remain the same.
  • All existing mandates pertaining to the account(s) shall remain effective and in force unless and until amended or revoked by you or the pledgee/chargee/assignee, as the case may be.

Please also note:

  • No specific action is required on your part.
  • Your CIMB StarSaver-i account(s) will be automatically converted if you continue to keep your account with us and we do not hear from you otherwise.
  • Such continuation shall constitute your consent and agreement to the Operations of Deposits Accounts Terms and Conditions for CIMB StarSaver-i (based on Commodity Murabahah).

Please refer to the Frequently Asked Questions for more details.

Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.