KUALA LUMPUR: CIMB Islamic Bank Bhd has launched CIMB Lite-i Credit Card, a no-frills, credit card designed for Malaysians seeking a practical credit facility with lower financing costs and flexible repayment solutions. 

In a statement, the bank said the facility featured a fixed and non-compounding profit rate of 14% per annum across all customer tiers, which was lower compared to prevailing industry rates. 

"The card is tailored for customers who prioritise affordability and access to responsible credit over rewards and lifestyle privileges, making it an ideal solution for managing everyday expenses and short-term cash flow needs," it said.

Cardholders who make a minimum retail spend of RM500 in a single transaction are eligible for a 0% Flexi Payment Plan-i (FPP-i) for six months. 

The promotion, valid until Oct 31, 2027, provides customers with greater payment flexibility by allowing eligible retail purchases to be converted into monthly instalments at no additional financing cost. 

“The CIMB Lite-i Credit Card reflects our commitment to advancing customers and society by making responsible credit more affordable for Malaysians. We believe financial solutions should be relevant to customers’ needs and help them build greater financial resilience over time," said Novan Amirudin, group CEO of CIMB.

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