Does cimb bank have enough capital money? As currently, my intangible savings is putting over there, I am worried currently. Should I take my money out?

Hi anon,

Are you referring to CIMB Singapore? All cash deposits with any bank are insured by SDIC for up to $75000 per individual, so your monies are safe. I would only have grounds to worry if I had more than $75000 in any bank (not just CIMB), and probably have my cash spread out if I was really concerned. The safeguards in place are very stringent, at least in the context of Singapore. For a foreign bank to get a banking license here is not that easy.

Bank deposits are insured up to a certain amount by different organisations and they are obliged to pay lenders through owners' capital to repay their debts if need be.

If your deposit is in Singapore dollar, then it will be insured by the Singapore Deposit Insurance Corporation for up to S$75,000.

If your deposit is in Ringgit, then it will be insured by the Perbadanan Insurans Deposit Malaysia (PIDM) for up to RM250,000 per depositor per member bank. All commercial banks licensed under the Financial Services Act (FSA) 2013 and all Islamic banks licensed under the Islamic Financial Services Act (IFSA) 2013, including locally incorporated subsidiaries of foreign banks operating in Malaysia, are member institutions of PIDM .​​​