CIMB Islamic to launch no annual fee credit card in October

CIMB Lite-i will have a profit rate of 14% per annum across all tiers.

CIMB Islamic Bank Berhad is launching the CIMB Lite-i in October 2026, touted as an affordable credit card with a lower profit rate and no annual fee.

The CIMB Lite-i card promises a profit rate of 14% per annum across all tiers compared to the industry norm, the Malaysian lenders said in a July announcement.

The card adopts a non-compounding profit approach, and customers will not be charged as long as they pair their full outstanding balance by the due date, CIMB Islamic said.

The card also has no annual fee, and promises a reduced cash advance profit arate, the Malaysian lenders said in a July announcement.

CIMB Lite-i is aimed for the segment of customers who do not need premium rewards or lifestyle perks, said Haniz Nazlan, chief executive officer, Group Consumer Banking, CIMB.

“[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,” Nazlan said.