CIMB Islamic is the Islamic bank of Malaysia's second-largest banking group, and its retail personality is distinctive: the freshest published deposit rate cards among the big six, the market's only Mudarabah-based mortgage offset account, the cheapest printed civil-servant financing, and the strongest Islamic credit card economics in the country. Also, in places, a stubborn refusal to name contracts or print mortgage rates. We verified everything below from cimb.com.my on August 6, 2026.
Oversight sits with the six-member Board Shariah Committee chaired by Assoc. Prof. Dr. Mohamed Fairooz Abdul Khir, disclosed on the group's board committees page and in the FY2025 financial statements. Notably, Dr. Fairooz also sits on Maybank Islamic's committee, one of several scholar overlaps across Malaysia's big six.
Ready to compare halal options?
Deposits: the freshest rate cards in the cluster
The Fixed Deposit-i family runs on Tawarruq, named on the page, with board rates effective 19 June 2026: 1.75% for 1 to 3 months rising to 2.05% at 36 to 60 months, the highest printed long-tenor rate among the big six. Three payout variants cover most needs: maturity, monthly income, and the unusual Why Wait variant that pays profit upfront on day one at 1.75% to 1.90%. Best of all, partial withdrawals in RM1,000 multiples keep the contracted rate on whatever remains, addressing the classic fixed deposit grievance. CIMB also prints foreign currency FD-i rates, with USD 12-month money at 4.10% effective 28 July 2026.
EcoSave Savings Account-i pays printed tiers of 0.15% to 1.00% above RM200,000 under a named Tawarruq contract, but the table is dated 1 June 2020, the stalest rate evidence in the cluster; confirm at branch whether tiers have been repriced. The Current Account-i names Tawarruq too, an unusual and useful choice for a chequing product. For where these rates sit in the market, see our savings and term deposit comparisons.
Home financing: the Mudarabah offset nobody else has
Flexi Home Financing-i pairs the mortgage with a Special Mudarabah Investment Account-i (SMIA-i): 100% of any balance parked there is recognised against your daily financing profit, with no cap and free deposits and withdrawals through the OCTO app. It is the only mortgage among the big six with a named Islamic offset account working like a conventional full-flexi. For households that keep meaningful idle cash, the mechanism can out-save a 20-basis-point rate advantage elsewhere. Margin reaches 95% including MRTT, legal and valuation fees (capped at 5%), over 5 to 35 years.
Variable Home Financing-i is the no-frills sibling: same 95%-inclusive margin, standard payments, no offset machinery, suited to buyers whose savings sit near zero after the down payment. Scope on both is broad: purchase and refinancing, completed and under-construction properties, with serviced apartments and resort homes explicitly included, and Group MRTT financing available up to 5% of property value.
The blind spot on both: no indicative effective rate is printed, and the financing contract is not named in the page text (the PDS library documents it). Extract the effective rate from the PDS and weigh it against Bank Islam's printed 3.55% and Hong Leong Islamic's worked 3.60%. Our home financing rates comparison gives you the anchors.
Personal financing: 3.50% for civil servants
Pembiayaan Peribadi Awam-i is the cheapest printed personal financing among the big six: from 3.50% p.a. fixed for government and GLC employees, up to RM200,000 over 10 years, repaid by ANGKASA salary deduction. The income floor is a low RM1,400 monthly, contract staff with three-month contracts qualify, and the page publishes an Ibra calculator, a model of early-settlement transparency. Private-sector borrowers are excluded; our civil servant financing guide maps this product against Bank Rakyat, RHB and Public Islamic.
Cards: the strongest printed economics in Malaysia
The PETRONAS Visa Infinite-i is, on printed numbers, the best Islamic credit card in the country: up to 12% cash rebate on PETRONAS transactions including Setel and EV charging, up to 6% on groceries, dining and cashless parking, 1% unlimited overseas, capped at RM1,440 rebate a year, with principal and supplementary annual fees waived. The standard income gate is steep at RM120,000, halved to RM60,000 via CIMB@Work. The Platinum-i is the accessible sibling: RM24,000 income, fee-free, 1 point per ringgit, with a 5x points campaign on Zakat and charity payments running to 28 February 2027.
The governance detail deserves its own sentence: effective 1 January 2026, CIMB converted its entire Islamic card book from the Ujrah (fee) concept to Tawarruq, with dated notices printed on the product pages. Documented, dated structural migration is exactly what active Shariah governance looks like from the outside. Full field in our Islamic cards guide.
Vehicle financing: optionality without transparency
Hire Purchase-i offers fixed or variable profit rates, each with its own Islamic PDS, up to 90% margin over 9 years, covering new, used and reconditioned vehicles, serviced through dedicated auto finance centres. No rates are printed; anchor your negotiation with Bank Islam's published 2.10% to 3.92% grid. Note the Hire Purchase (Amendment) Act 2026 moves new agreements to the fixed-rate reducing balance method from 1 June 2026, which CIMB flags in its notices; our HPAA 2026 explainer covers what changes.
The scorecard
| Product | Standout | Gap |
|---|---|---|
| Fixed Deposit-i | 2.05% long tenor; upfront-profit variant; flexible withdrawal | None serious |
| EcoSave Savings-i | Named Tawarruq, printed tiers to 1.00% | Rate table dated June 2020 |
| Flexi Home Financing-i | SMIA-i Mudarabah offset, 100% recognition, no cap | No printed rate; contract in PDS |
| Pembiayaan Peribadi Awam-i | From 3.50% fixed; Ibra calculator | Civil servants only |
| PETRONAS Visa Infinite-i | 12% fuel rebate; fees waived; dated Tawarruq conversion | RM120,000 income gate; RM1,440 cap |
| Hire Purchase-i | Fixed or variable choice | No printed rates |
Who should bank here
CIMB Islamic is the pick for three profiles: savers who want current, printed deposit rates with withdrawal flexibility; borrowers with fluctuating cash who will actually use the Mudarabah offset; and spenders inside the PETRONAS ecosystem who clear the card's income gate. Civil servants get the country's best printed financing rate as a bonus. The house style is digital (OCTO app) and document-driven, so comfort with PDS reading helps, because that is where CIMB keeps its contracts and mortgage prices.
Frequently asked questions
Why did CIMB convert its cards from Ujrah to Tawarruq?
The bank published the change with dated notices rather than a rationale. Both structures are BNM-recognised; Tawarruq builds the credit line on a commodity sale rather than a service fee. What matters for cardholders is that the conversion was documented, dated and communicated, and the product terms, rebates and fee waivers carried through.
Is the SMIA-i offset account Shariah-compliant like a savings account?
SMIA-i is a Mudarabah investment account, a profit-sharing structure distinct from a deposit. Its job in the flexi mortgage is to recognise your balance against financing profit daily. Read the PDS for the account's own terms, and note investment accounts sit outside PIDM deposit cover, which is normal for the class.
Compare providers in your state
See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
Should I take the Flexi or the Variable home financing?
Count your idle cash honestly. If you routinely hold five figures beyond your emergency fund, the Flexi's uncapped offset likely wins even at a slightly higher spread. If your savings clear out after the down payment, take the simpler Variable and revisit at refinancing time. Either way, get the effective rate in writing before you sign anything, and compare it against the printed anchors from Bank Islam and Hong Leong Islamic rather than accepting the first quote.