KUALA LUMPUR - CIMB Bank Bhd has introduced a new financial product targeting Malaysian Employees Provident Fund (EPF) contributors. The Cash Plus Personal Loan Account 2 Support Facility allows EPF members aged between 40 and 55, who earn a minimum gross income of RM2,000 per month and have at least RM3,000 in their EPF Account 2, to apply for personal loans up to RM50,000.
The bank's initiative aims to provide accessible financial services, with an easy online application process that forgoes the need for physical documentation. This service is available starting today, with a competitive fixed interest rate of 4.5% per annum. Borrowers can choose a repayment period of up to ten years, offering flexibility and support to those who may need it.
Effendy Shahul Hamid, CEO of CIMB Group Consumer and Digital Banking, emphasized the bank's commitment to enhancing financial inclusivity through this program. He stated that the initiative is part of the bank's broader strategy to deliver accessible financial solutions to meet the needs of its customers.
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