From left: CIMB head of consumer banking Daniel Cheong, singer Datuk Zainal Abidin, and CIMB group consumer and digital banking chief executive officer Effendy Shahul Hamid.
KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd have launched a suite of electric vehicle (EV) financial solutions to drive the adoption of EVs in Malaysia.In a statement, the bank said the set of EV solutions address the needs of consumers across every aspect of owning an EV, including financing, insurance protection and a range of exclusive privileges.
CIMB group consumer and digital banking chief executive officer Effendy Shahul Hamid said: “We are pleased to offer the most comprehensive suite of EV financial solutions in the market today. Through this market leading offering, we are able to deliver greater value by making the customer’s EV ownership journey accessible, convenient and even more rewarding.”
“We will continue to offer innovative sustainable finance solutions that encourage Malaysians to consider a more sustainable lifestyle, as we work together towards achieving the country’s Net Zero ambitions," he added.
During the introductory campaign, which runs until April 30, 2024, customers will enjoy a variety of financing, insurance and other benefits.
These include preferential fixed rates as low as 1.98% per annum on financing for EVs, and up to a 90% margin of financing with a repayment period of up to 9 years. The bank is also providing a "green lane" for expedited approvals within eight hours.
In addition, CIMB and its bancassurance partner, Berjaya Sompo Insurance Bhd have teamed up to offer greater value and first-in-market complimentary EV benefits on motor insurance.
The bank said EV owners will also be entitled to complimentary comprehensive EV pack coverage exclusive to CIMB customers. This includes coverage on EV home wall chargers of up to RM15,000 in the event of incidents such as fire, theft, lightning, explosions and flooding, as well as RM50,000 in personal liability coverage on accidents whilst using electric vehicle chargers. On top of these, the coverage includes unlimited towing to the nearest EV charging station.
For more information about CIMB’s EV financial solutions, visit www.cimb.com.my/ev.
