CIMB Islamic Bank will roll out the CIMB Lite-i credit card by October 2026 to widen access to affordable credit for everyday spending.
The no-frills card is aimed at consumers who want a simple credit facility without premium rewards or lifestyle perks.
It will have no annual fee, a 14% per annum profit rate across all tiers and a lower cash advance profit rate.
The CIMB Lite-i card will follow a non-compounding profit structure, similar to its other Tawarruq-based Islamic credit cards.
Customers will not be charged profit if they pay their full outstanding balance by the due date.
The card will come with a practical credit limit tailored to the cardholder to support everyday spending and responsible credit use.
Novan Amirudin, Group Chief Executive Officer of CIMB Group, said,
“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.”
Haniz Nazlan, Chief Executive Officer, Group Consumer Banking at 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.”
Featured image: Edited by Fintech News Malaysia, based on image by sanigo718 via Magnific
