CIMB FastSaver

[P R N D]

Just transfer 300 from Govt to Starsaver.

Sent from Mercedes-Benz E250 using GAGT

 

[F1ngolf2012]

Accidentally did nonfast transfer out but money is still in account.

although website says it will take 2-3 business days to complete, didn’t expect my money to still be reflected in my account after getting the transfer confirmation.

Am I able to cancel it?

Interesting. Thought fund will be either deducted or put on hold for non FAST transfer.

 

[Davo23]

What is your total eligible transactions per month? If above $2000, Multiplier is better than Fastsaver.

Hi,

I entered multiplier account balance as 90K. Income, credit card spending and home loan total is at the 5k - 15k range. The interest works out to be 1120.55 which is 1.25%.

Am i wrong somewhere?

 

[rkesin]

Interesting. Thought fund will be either deducted or put on hold for non FAST transfer.

Yes, me too!

Now I’m not sure whether to try and do a fast transfer for the same amount. But then my nonfast transfer will have insufficient funds. Not sure if there is a penalty?

Might just wait the 2-3 business days to see if anything changes before trying through fast instead

 

[Extremme]

Hi,

I entered multiplier account balance as 90K. Income, credit card spending and home loan total is at the 5k - 15k range. The interest works out to be 1120.55 which is 1.25%.

Am i wrong somewhere?

I think it should be:

1st 50k * 2.2 = 1100
2nd 40k * 2.4 = 960

So interest shd be around 2%?

Income+ 2 Categories

 

[wutawa]

Yes, me too!

Now I’m not sure whether to try and do a fast transfer for the same amount. But then my nonfast transfer will have insufficient funds. Not sure if there is a penalty?

Might just wait the 2-3 business days to see if anything changes before trying through fast instead

Give cimb a call during office hours. Dun assume and take chances. I accidentally did a non-fast transfer too.

 

[rkesin]

Give cimb a call during office hours. Dun assume and take chances. I accidentally did a non-fast transfer too.

Will do that tomorrow!
What happened with your transfer? Did it go through after 2-3 days?

 

[wutawa]

Will do that tomorrow!
What happened with your transfer? Did it go through after 2-3 days?

Mine was deducted from cimb straightaway. It went thru after 2 days.

 

[F1ngolf2012]

Hi,

I entered multiplier account balance as 90K. Income, credit card spending and home loan total is at the 5k - 15k range. The interest works out to be 1120.55 which is 1.25%.

Am i wrong somewhere?

1120.55 is correct. 1st 50k@2.2% and balance 40k@0.5%. You need to unlock another category to get 2.4% for the 40k.

 

[F1ngolf2012]

Yes, me too!

Now I’m not sure whether to try and do a fast transfer for the same amount. But then my nonfast transfer will have insufficient funds. Not sure if there is a penalty?

Might just wait the 2-3 business days to see if anything changes before trying through fast instead

There should be no penalty for insufficient fund for your non fast transfer. In the first place, the non fast transfer amount should be deducted or put on hold i.e. the amount is no more available. You may want to re-confirm that the non fast transfer is really there.

 

[F1ngolf2012]

I think it should be:

1st 50k * 2.2 = 1100
2nd 40k * 2.4 = 960

So interest shd be around 2%?

Income+ 2 Categories

Need Income+3 categories not 2.

 

[yiwei]

Hi,

I entered multiplier account balance as 90K. Income, credit card spending and home loan total is at the 5k - 15k range. The interest works out to be 1120.55 which is 1.25%.

Am i wrong somewhere?

Suggest you put 50k in Multiplier and the remaining 40k in FastSaver if you do not want to increase the number of categories you are meeting.

 

[Extremme]

Need Income+3 categories not 2.

I missed that. My bad haha...

 

[F1ngolf2012]

I missed that. My bad haha...

No worries, mate. It happens to me too!

 

[Extremme]

No worries, mate. It happens to me too!

@Davo23 should just add one more category. Go for the ETF investment at $100 per month.

 

[arctician]

Elastiq lock in is 90 days. After that can surrender and get full value back or make partial withdrawal.

But there is a fall below fee for under 5k

i see thank you, after 90d lock in and withdraw before 3y entire sum zero interest right or can get 1.8%?

 

[Utonian]

i see thank you, after 90d lock in and withdraw before 3y entire sum zero interest right or can get 1.8%?

you will get the entire sum plus any interest up to that point in time.

Interest is is accrued daily and credited monthly

 

[Davo23]

1120.55 is correct. 1st 50k@2.2% and balance 40k@0.5%. You need to unlock another category to get 2.4% for the 40k.

Suggest you put 50k in Multiplier and the remaining 40k in FastSaver if you do not want to increase the number of categories you are meeting.

@Davo23 should just add one more category. Go for the ETF investment at $100 per month.

Ok thanks a lot guys! Most likely will go for both multiplier and fastsaver.

 

[m@maboi]

Ok thanks a lot guys! Most likely will go for both multiplier and fastsaver.

CIMB halved their interest rate by halve next month onwards. but still better than the other 3 local banks.

 

[F1ngolf2012]

QUOTE=m@maboi;127842393]CIMB halved their interest rate by halve next month onwards. but still better than the other 3 local banks.[/QUOTE]
To be exact, reduced interest rates for Fastsaver and Starsaver start from 15 July 2020.