Credit card features include no annual fee, lower profit rate, non-compounding profit, lower cash advance rate and no-frills structure

KUALA LUMPUR, July 7 (Bernama) -- CIMB Islamic Bank Berhad (“CIMB” or “Bank”) today announced the upcoming launch of CIMB Lite-i (“Card”), a practical and affordable credit card designed to make credit services more accessible to consumers to manage daily expenses and short-term cash flow needs.  

Set to be available by October 2026, the Card is tailored for consumers seeking simple, affordable credit facility without frills. Key features include a lower profit rate, non-compounding profit, no annual fee, and cost-effective financing options at lower charges, making credit more accessible and manageable for a wider segment of society.

Novan Amirudin, Group Chief Executive Officer, CIMB Group said, “As a testament to our purpose of advancing customers and society, CIMB is committed to improving financial access and helping Malaysians build greater financial resilience. The CIMB Lite-i credit card addresses a growing gap in the market for practical, low-cost credit solutions. The new credit card exemplifies our continued commitment to better support Malaysians in managing their day-to-day financial needs. This card also builds on CIMB’s broader efforts to support Malaysians through customer-focused initiatives namely, the SME Stabilisation Relief Facility, First Car Solution, Salary Account with Takaful protection, and the fee waiver for interbank withdrawals.”

The Card offers no annual fee, a lower profit rate of 14% per annum across all tiers compared to the industry norm, as well as a similar reduced cash advance profit rate. Similar to all CIMB Islamic Tawarruq-based credit cards, the Lite-i credit card adopts a non-compounding profit approach. Like other credit cards, customers will not be charged the profit rate as long as they pay their full outstanding balance by the due date. It also comes with a practical credit limit tailored to the cardholders, to support everyday spending needs while encouraging prudent credit usage.

Haniz Nazlan, Chief Executive Officer, Group Consumer Banking, CIMB said, “There is a clear segment of customers who do not need premium rewards or lifestyle perks; they simply want a reliable and affordable credit facility to manage daily expenses, bridge short-term cash flow needs, and build a healthy credit profile. The CIMB Lite-i credit card is designed precisely for this segment. At CIMB, we believe access to financial tools should not be a privilege reserved for a select few. Financial inclusion means ensuring more Malaysians, especially those beginning their financial journey, are afforded access to safe, affordable and practical financial solutions that help them build stability and resilience over time.”

The CIMB Lite-i credit card reflects the Bank’s “Moving You Forward” brand promise - helping customers and communities build financial stability and participate more confidently in the 2 economy. The launch of the Card underscores CIMB’s broader ambition to empower individuals and support businesses with accessible and purposeful financial tools. For more information, please visit www.cimb.com.my/creditcard. 

About CIMB 

CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM81.6 billion as at 31 March 2026. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present across ASEAN in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and the Philippines. 

Beyond ASEAN, the Group has market presence in China, Hong Kong and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 545 branches and over 33,000 employees as at 31 March 2026. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group’s leading wholesale banking franchise. CIMB is also the 91.45% shareholder of Bank CIMB Niaga in Indonesia, and 94.83% shareholder of CIMB Thai in Thailand. 

SOURCE: CIMB Group Holdings Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Tammy Toh / Kelvin Jude Muthu
Group Corporate Communications
CIMB Group Holdings Berhad
Email: tammy.toh@cimb.com / kelvinjude.muthu@cimb.com 

--BERNAMA