CIMB launches OctoSavers, its first fully digital Islamic savings account

KUALA LUMPUR (Aug 1): CIMB Bank Bhd and CIMB Islamic Bank Bhd have launched the CIMB OctoSavers Account-i, the bank’s first all-digital Islamic savings account, together with the new CIMB OctoDebit MasterCard.

OctoSavers Account-i is specially curated for the convenience of new customers as the account opening and onboarding process are done entirely online, while the debit card will be mailed to customers, thus ensuring a convenient branchless experience, the bank said in a statement today.

The fully online account opening procedure is made possible through leveraging Bank Negara Malaysia’s electronic Know-Your-Customer (e-KYC) guideline — where CIMB is able to fulfil its requirements for conducting customer due diligence through electronic means, including online and mobile channels.

The bank said the new end-to-end digital onboarding helps further safeguard customers’ health during the pandemic as they do not have to set foot in a branch.

New customers who are Malaysian citizens aged 18 years and above may apply for the OctoSavers Account-i through the CIMB Apply app, which can be downloaded from Google Play and the Apple App Store.

The customer verification process through e-KYC will be conducted via the app.

Meanwhile, existing CIMB customers with a savings or current account with a Malaysian address may apply for the OctoSavers Account-i through the CIMB Clicks website (www.cimbclicks.com.my).

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