CIMB's new product allows clients to trade shares online

CIMB Bank launched its CIMB Trader Deposit Account, a combination of savings deposit with a securitised direct share trading account that allows customers to trade online in any security listed on Bursa Malaysia.

The bank's head of retail financial services Peter England said the product is designed for the discerning and affluent individual investors, who trade shares at high volumes on a frequent basis.

"With the convenience of online trading, they can also save on brokerage costs while at the same time enjoy high returns on deposits," he added, in a statement today.

He described the product as a comprehensive investment package that enables retail investors to trade with more value while at the same time maximising returns on savings.

"It is also intended to deliver an added value proposition for seasoned investors or traders to be even more active in the stock market while enjoying attractive deposit rates," he added.

England said for a promotional period of up to Jan 31 next year, investors will also get to enjoy zero brokerage fees, high trading volume of up to six times their deposit amount and a 2.5 per cent per annum return on savings with a minimum deposit of RM250,000.