Starting in April 2025, CIMB plans to adjust the interest rates on their Singapore Dollar deposit accounts. As one of the banks I’m particularly fond of, CIMB is set to alter the current interest rates for their SGD Deposit Accounts, effective from April 1, 2025. Personally, I have both an individual and a joint CIMB FastSaver account with my spouse at CIMB Bank. You might wonder why they’re making these changes to their interest rates. As I’ve mentioned in my recent posts, the Singapore Overnight Rate Average (SORA) has been on a downward trend over the past few months. In response to this environment, CIMB Bank is implementing slight revisions to their SGD Deposit Accounts.
In case you’re not familiar, the Singapore Overnight Rate Average (SORA) recently dropped to 2.0822 percent as of March 13, 2025, marking its lowest point since December 2022. Now, what exactly is SORA? SORA is…
