Commercial Bank of Maldives review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Commercial Bank of Maldives suits residents who want a plain easy-access savings account with round-the-clock access, but the variable rate of 1.5% sits well below the wider savings field. It makes sense for people who need their money reachable rather than savers chasing the highest return.
Key facts
- Best for
- An easy-access Maldives savings account for money that must stay reachable.
- Headline rate
- 1.5%↗
- Rate type
- Variable↗
- Term
- 60 months↗
- Minimum deposit
- MVR 500↗
- Access terms
- Interest calculated daily and credited monthly; 24x7 access via online banking, mobile banking and ATMs; withdrawals by ATM card or bank counter↗
- Monthly fee
- MVR 20↗
- Account kind
- Easy access↗
- Legal entity
- Commercial Bank of Maldives Pvt Ltd↗
- Headquarters
- Maldives↗
- Support channels
- Phone, Email, Help-centre↗
- Pricing model
- Fixed rate
- Official website
- cbmmv.com
Loans
- APR
- 13.5% to 15.25%↗
- Arrangement fee
- 0.75% of facility amount (Min MVR 1,000)↗
- Lender type
- Direct lender↗
- Free early repayment
- No↗
- Eligibility
- Aged 20-57, loan fully settled before age 60; confirmed employee with 2 years employment or self-employed professional; minimum basic salary MVR 15,000; income directed to a CBM account↗
- Origination fee (%)
- 0.75%↗
- Loan types
- Personal, Debt-consolidation, Guarantor↗
- Use cases
- Home-improvement↗
- Features
- Travel
Mortgages
Facts checked September 26, 2026, 10 sources
Apps and profiles
- Get the app
- Google Play
- Elsewhere
- youtube.com
Pros and cons
Pros
- Access runs around the clock through online banking, mobile banking and ATMs, with withdrawals by ATM card or at a bank counter.
- Interest is calculated on the balance daily and credited monthly, so savings build without a monthly claim step.
- Support runs on phone, email and help centre, so help is available by phone, by email or through the help centre.
Cons
- The variable rate of 1.5% pays noticeably less than the savings median of 3% on the wider market.
- A monthly account fee of MVR 20 is charged on the account, which takes a share of the return on a small balance.
- Free early repayment is not offered on the bank's personal loans, so borrowing costs cannot be cut short.
Who it suits
- Maldives residents saving steadily in local currency who need access outside banking hours.
- Customers who want savings, personal loans and home lending from the same institution.
- People happy to hold an easy-access balance rather than lock a rate for a fixed term.
Who should look elsewhere
- bunq, which pays 3.01% on savings balances.
- Wise, whose interest rate of 3.29% is the highest of the listed alternatives.
- Finteres, whose headline rate runs 0% to 36% and so spans a much wider spread of returns.
Fees and currency costs
Costs on the regular savings account run at a monthly fee of MVR 20, and the balance opens at a minimum deposit of MVR 500. Both figures sit on the bank's published tariff, so the recurring cost can be set against the interest the account pays before money goes in. The entry deposit is the smaller of the two hurdles.
How Commercial Bank of Maldives compares
Where Commercial Bank of Maldives is available
- Available
- Maldives
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What interest does the regular savings account pay?+
The regular savings account pays a variable rate of 1.5% a year. Interest is calculated on the balance each day and added to the account once a month, so the credit reflects how long the money has been held. Since the rate is variable, the figure can move as the bank revises its published rates.
How much do I need to deposit to open the account?+
The minimum deposit is MVR 500, which is the balance needed to open a regular savings account. You can add to the balance over time rather than commit everything at the start, and the account stays in easy-access form, so savings can be drawn without giving notice.
Is there a monthly charge on the account?+
A monthly fee of MVR 20 applies to the account, and that is the recurring cost to weigh against the interest earned. On a small balance the charge takes a visible share of the return, which matters most for anyone starting a first savings pot and adding to it slowly.
How do I withdraw money when I need it?+
Withdrawals are made with an ATM card or at a bank counter, and the account can be reached around the clock through online banking, mobile banking and ATMs. The linked debit card runs on the visa network, so card payments and cash withdrawals work wherever that network is accepted.
Who is behind the account and where is the bank based?+
The provider is Commercial Bank of Maldives Pvt Ltd, headquartered in Maldives. Its savings, personal loans and home loans all sit with the same institution, which is convenient if you want an account and borrowing from a single lender rather than arranging each product separately.
What help do I get if something goes wrong?+
Support runs on phone, email and help centre, so you can reach the bank by phone, by email or through its help centre. For anything urgent with an account, a card or a payment, a phone call is the quickest of those routes, and the help centre covers written questions.
Can I borrow from the same bank?+
Yes, the bank lends directly. Personal loans carry an APR of 13.5% to 15.25% over a term of 60, arranged at an origination fee of 0.75% of facility amount (Min MVR 1,000). Free early repayment is not offered on them, and home loans start at an initial rate of 9.5% to 12% with a maximum loan to value of 80%.
Does the credit card cost much to hold?+
The Visa credit card carries an annual fee of MVR 450, and the rewards type on it is none, so there are no points or cashback to offset that charge. It is a credit card, which means a balance is repaid rather than carried on a free period.
Sources
- cbmmv.com checked September 26, 2026
Backs: Features, Headquarters
“Travel Insurance”
- cbmmv.com/exchange-rates-tariffs.html checked September 26, 2026
Backs: APR, Free early repayment, Minimum deposit, Monthly fee, Arrangement fee, Origination fee (%)
“Personal Loan 13.50 - 15.25% p.a”
- cbmmv.com/faq.html checked September 26, 2026
Backs: Support channels
“For any assistance: +960 333-2668, info@cbmmv.com; FAQ | Commercial Bank of Maldives”
- cbmmv.com/interest-rate.html checked September 26, 2026
Backs: Headline rate
“Savings Account 1.50% (MVR), 1.25% (USD) p.a”
- cbmmv.com/legal-notices.html checked September 26, 2026
Backs: Legal entity
“issued by Commercial Bank of Maldives Pvt Ltd”
- cbmmv.com/personal/loans/home-loan.html checked September 26, 2026
Backs: Initial rate, Maximum loan to value, Purpose
“Home Loan: Interest Rate and Charges 9.5% p.a - 12.00% p.a”
- cbmmv.com/personal/loans/personal-loan.html checked September 26, 2026
Backs: Eligibility, Lender type, Loan types, Pricing model, Term, Use cases
“You should be aged between 20 and 57 years, subject to loan being fully settled before reaching 60 years”
- cbmmv.com/personal/savings/regular-savings.html checked September 26, 2026
Backs: Access terms, Account kind, Rate type
“Fast, convenient and 24 x 7 unlimited access points to your account from anywhere in the world through Online Banking & Mobile Banking or through our ATMs”
- cbmmv.com/personal/services/cards/visa/credit-card.html checked September 26, 2026
Backs: Annual fee, Card kind, Rewards type
“VISA CLASSIC - Annual Fee: MVR 450 / $35”
- cbmmv.com/personal/services/cards/visa/debit-card.html checked September 26, 2026
Backs: Card type, Card network
“CBM VISA Debit Card”
Compiled from 10 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Deposit protection.
Commercial Bank of Maldives
An easy-access Maldives savings account for money that must stay reachable.