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Current Promotions

SME ACCOUNT PROMOTION

Enjoy S$0 telegraphic transfers, S$0 monthly fees, S$0 business transactions, and more for the first year.

*T&Cs apply. SGD deposits are insured up to S$100K by SDIC.

Apply now
sme-account

A Shariah-compliant alternative CIMB SME-i Account is available here. 

Promotion: Get S$20^ cash credit when you open a CIMB SME-i Account by 30 Jun'25.

Features

S$0 Fees (1st year)
S$0 Telegraphic Transfer
S$0 Unlimited Free Transactions
Best SGD-MYR Rate
Digital Banking

Why choose CIMB SME Account?

 

Looking to open a low-cost SME account in Singapore? CIMB offers no monthly fees, unlimited transactions, and no minimum balance.

See how we fare against other banks.

 

Accounts CIMB SME Account Bank D Bank O Bank U
Monthly Fees

S$0 monthly fees (1st year), 

thereafter S$8 per month

 S$50 per annum S$10 (waived for the first 2 months) S$35 per annum
Minimum Monthly Balance

S$0 initial deposit,

minimum balance

& fall-below fees

No initial deposit

Minimum balance: S$10,000

S$40 monthly service charge

Initial deposit: S$1,000

Minimum balance: S$1,000

Falll below fee: S$15

Initial deposit: S$1,000

Minimum balance: S$5,000

Fall below fee: S$15
Transaction Charges S$0 Unlimited free transactions (Paynow/FAST/GIRO) 50 free FAST and 50 free GIRO payments per month 80 free FAST and 80 free GIRO per month

60 free FAST and 60 Paynow payments per month

Free Bulk GIRO
Telegraphic Transfer Fees

Promotion valid till 31 Jul’25: S$0 (for 12 months) 

via CIMB@BizChannel 

(excluding agent fee)

 

U.P.: $15 flat fee

 S$30 flat fee for outward telegraphic transfer Information not available Information not available

Information is accurate as at 1 March 2025.

Apply Now

No hidden fees. No limits. Get zero monthly fees and unlimited business transactions for the first year. Perfect for start-ups, young businesses and growing SMEs.

Fees & Charges

 

  • S$0 telegraphic transfer fees (12 months) (Promotion valid till 30 Jul’25)
  • S$0 initial deposit
  • S$0 minimum balance and fall below-fees
  • S$0 unlimited free business transactions (PayNow/FAST/GIRO)   
  • Free e-Alerts

Account Fee

S$0 monthly account fee (1st year), thereafter S$8 per month. 

 

Early Account Closure Fee

S$50 for accounts closed within 6 months of opening

 

How To Apply for the Best Start-Up Business Account

Step 1

Prepare the following documents before you start your application online for CIMB SME Account. Refer to the document checklist below.

 

A Shariah-compliant alternative, CIMB SME-i Account is also available here.

Step 2

Click on the link below to begin your application. The application will take approximately 15 minutes* to complete. 

 

Apply Now

 

Document Checklist

 

Get ready to open a CIMB SME Account with us and enjoy our services. To speed up the process, please have the following documents ready.

 

Private Limited/Public Company

1. Certified true copies1

Memorandum and Articles of Association or Constitution.

 

2. NRIC/ Passport copy2 and specimen signatures of

  • All directors
  • All authorised signatories
  • All controlling persons (only if applicable to your company)
  • All Ultimate Beneficial Owners
  • All approving persons

 

3. Image with NRIC for ALL NRIC submitted above

1A certified true copy is a copy of an original document that has been stamped or signed with the word "Certified True Copy" to confirm the copy is true and authentic by the following persons:

For Private Limited or Public Company: 2 directors; or 1 director and 1 secretary; or 1 director if you have a single director

 

2*NRIC for Singapore Citizens and residents or passport copy for non-citizens

 

Download Document Checklist for Private Limited/ Public Company (EN)
Download Document Checklist for Private Limited/ Public Company (CN)

Partnership

1. Certified true copies1

Partnership agreement. 

 

2. NRIC/ Passport copy2 and specimen signatures of

  • All authorised signatories
  • All Partners (For Partnership Entities)
  • All approving persons

 

3. Image with NRIC for ALL NRIC submitted above

 

1A certified true copy is a copy of an original document that has been stamped or signed with the word "Certified True Copy" to confirm the copy is true and authentic by the following persons:

For Partnerships: 2 partners

 

2*NRIC for Singapore Citizens and residents or passport copy for non-citizens

 

Download Document Checklist for Partnership (EN)
Download Document Checklist for Partnership (CN)

Sole Proprietorship

1. NRIC/ Passport copy2 and specimen signatures of

  • All authorised signatories
  • All owners for Sole Proprietor
  • All approving persons

 

2. Image with NRIC for ALL NRIC submitted above

 

2*NRIC for Singapore Citizens and residents or passport copy for non-citizens

 

Download Document Checklist for Sole Proprietorship (EN)
Download Document Checklist for Sole Proprietorship (CN)

Quick Guide

 

Need help with applying your business account online? View our guided videos or download the Online Account Application English User Guide, and the Online Account Application Chinese User Guide for more information.

 

For Bizchannel Onboarding, please view the step-by-step guide here. 

Starting an Application

 

How To Open An Online Business Account?

Learn how to apply for a CIMB business account online via two options – Corppass or UEN (Business Registration Number). 

Business Info, Appointment Holders & Authorised Signatories

 

Business Info, Appointment Holders & Authorised Signatories

Quick guide on filling up the details pertaining to the Company business information, appointment holders and selecting your authorised signatories on CIMB’s online account application platform

Authorised Contacts & Board Resolution

 

Authorised Contacts & Board Resolution

Quick guide on selecting your authorised contacts and acceptance of the standard board resolution on CIMB’s online account application platform 

Declarations & Document Uploads

 

Declarations & Documents Upload Guide

Quick guide on online application declarations & documents upload on CIMB’s online account application platform. 

 

Quick Tips

 

Quick Tips

Added features available on CIMB's online account application platform

 
Apply Now

Terms & Conditions

 

*Waived for first 12months, thereafter S$8 per month. 

 

Terms and conditions for S$0 telegraphic transfers for first 12 months apply. Click here for details. 

 

Terms and conditions governing The Corporate Deposits Accounts and Services apply. Click here for details.

 

With effect from 1 January 2024, the following charges will apply for all SGD-denominated and local USD-denominated corporate cheque clearing and depositing.

For SGD cheque charges for clearing and deposit : S$0.75 per cheque.

For USD cheque charges for clearing and deposit : USD1.00 per cheque.

 

Important Notices & Disclaimer

 

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. 

 

Frequently Asked Questions (FAQ)

How do I open a CIMB SME Account?

 

Opening a CIMB SME business account is made fast and seamless with our online application process. Start by filling in the required information about your start-up or business, including business details, personal details, and other relevant information. Then, submit the necessary documents, which will be specified in the next section. After reviewing your application and agreeing to the terms and conditions, submit your application. Upon approval of your application, you will receive a confirmation email with your bank account details.

 

 

Who is eligible to open a CIMB SME Account online?

 

All business registered in Singapore can open an SME bank account with CIMB online via our online account application platform. If your application is in order, you will be able to receive your account number via email almost immediately and be able to start enjoying your business bank account with no minimum balance or fees.*

 

Businesses located elsewhere will have to contact our Bank Representative for assistance to open an SME current account with CIMB.

 

 

Will my CIMB SME Account be opened instantly?

Your SME account with CIMB Singapore will be open on the same day if all the necessary documents submitted are in order. Otherwise, our CIMB representative will contact you to follow up with your application.

 

 

How do I know if my CIMB SME Account has been opened?

You will receive an acknowledgement email notifying you of the account details. Subsequently, a confirmation email will be sent to you upon successful opening of the account. These emails will be sent to the email address you provided during the account opening process. 

 

 

Will I be able to save my CIMB SME Account application and come back at a later time to continue with it?

Yes, there is an option available for you to select to save your application at each step so that you will be able to resume your saved application should you wish to continue at a later time. A reminder email will also be sent to you to complete your application to open an SME bank account.

 

 

 

Explore our range of corporate banking solutions.

Download the Frequently Asked Questions (FAQ) here. 

Download the Frequently Asked Questions (FAQ) in Chinese here.

 

Awards & Recognition

 

CIMB’s commitment to excellence is reflected in its awards and recognitions. These accolades underscore our dedication to providing unparalleled services and innovative solutions for our clients.

Global SME Banking Innovation Awards 2024

Best SME Business Current Account/Transaction Account

Global SME Banking Innovation Awards 2024

Best SME Beyond Banking Service Initiative

Asian Banking & Finance Wholesale Banking Awards 2023/2024

Singapore International Cash Management Bank of the Year

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