CIMB FastSaver

[Goodintentions]

For those who joined the new to CIMB Preferred 3% p.a promotion in March, have you gotten your Bonus Interest yet?

Supposed to be credited on the 2nd July according to T&C.

 

[Ch3tah_39]

still no SI BI yet. think I will cancel the SI arrangement from next month onwards.

Yup. Anyway cimb is lowering their interest rate. With the revised interest, with the promotional interest also not very attractive.

And they not very transparent with their promotion.

 

[tiertime]

Yup. Anyway cimb is lowering their interest rate. With the revised interest, with the promotional interest also not very attractive.

And they not very transparent with their promotion.

Their interests got the MOST COMPLICATED tiering which doesn't allow easy calculation for customers

 

[Ch3tah_39]

Seems they stop the si bonus interest. Still have not received it today.

 

[maumu]

Seems they stop the si bonus interest. Still have not received it today.

they can't just stop as and when they like without informing customers. the tnc shows the period of promotion for the entire 2025.

 

[Ch3tah_39]

they can't just stop as and when they like without informing customers. the tnc shows the period of promotion for the entire 2025.

Haha bank can do whatever they want. I thought it is at the bank discretion to change the terms and conditions.

 

[oceanicmanta]

For those who joined the new to CIMB Preferred 3% p.a promotion in March, have you gotten your Bonus Interest yet?

Supposed to be credited on the 2nd July according to T&C.

I was on earlier cycle and got the Bonus interests timely

it seems since Jun, CIMB has been late in crediting interest n awards

 

[maumu]

Haha bank can do whatever they want. I thought it is at the bank discretion to change the terms and conditions.

banks can certainly change their tncs but they should have the decency to inform customers in advance.

blatantly publishing the crediting dates and then failing to adhere to it without any notice is very bad business ethics.

surely my trust level with the bank is lower after this. already thinking about closing the account since they don't have any good promotions left anyway.

 

[Ch3tah_39]

banks can certainly change their tncs but they should have the decency to inform customers in advance.

blatantly publishing the crediting dates and then failing to adhere to it without any notice is very bad business ethics.

surely my trust level with the bank is lower after this. already thinking about closing the account since they don't have any good promotions left anyway.

I dunno, they were 6 days late last month. And this month was even later lol, so I am guessing they just can do what they wants lol

 

[sibeiTrolled]

This is with reference to the CIMB Jan-mar 2025 3.2% interest promoI I have told my elder bro about this promo and he has jump into it

Looking at the details, i can say that your elder bro jumped the gun and actually landed in the Dec 2024 promotion

The moment i see 31 DEC +5K and the huge payout in March 2025 really locked it down for me.

Ignore the NOV in the name, this is the Dec 2024 promo
https://www.cimb.com.sg/content/dam/cimbsg/personal/document/tnc/accounts/2024/casa-tnc-nov2024.pdf

The actual start date is always the first of the month. The moment you increase the balance on 31st Dec by 5000, you have expressed interest in the Dec 2024 promo instead and thus, you have lost that 1 month worth of ~500 to 700k bonus interest.

This is the Jan 2025 promo for comparison - https://www.cimb.com.sg/content/dam/cimbsg/personal/document/tnc/accounts/2025/casa-tnc-jan2025.pdf

 

[sibeiTrolled]

interest paid out is correct for this period promo

Part 2 of replying to this post.
Please note that this is "napkin math" and values might differ.

As your dates are not really exact, and considering the siutation here, i will be ignoring the Dec portion of this promo (if you do not understand why, read my previous post)


Assuming (for eligible bonus portion)
End of month for Nov balance is 1500 (based on your <Dec)
Dec - Ignored as sum is neglible (Start of promo month)
Jan - 505,000 ( ignoring the 1500 and adding the 5K in Dec 2024)
Feb - 705,000 ( Adding 200K in Feb)
Lastly, no money movement OUT of the account.

Jan	Base %	Base Interest	Bonus %	Bonus Interest
25000​	1.19%​	25.26712329​	2.01%​	42.67808219​
25000​	2.19%​	46.5​	1.01%​	21.44520548​
25000​	3.30%​	70.06849315​		0​
430000​	0.80%​	292.1643836​	2.40%​	876.4931507​
Base for Jan		434​
Feb	Base %	Base Interest	Bonus %	Bonus Interest
25000​	1.19%​	24.45205479​	2.01%​	42.67808219​
25000​	2.19%​	45​	1.01%​	21.44520548​
25000​	3.30%​	67.80821918​		0​
630000​	0.80%​	414.2465753​	2.40%​	1284.164384​
Base for Feb	​	551.5068493
Total BI				2288.90411​

So when compared against your written value for Jan, Feb and Mar... i can only make these assumption
1) While base interest for Jan almost tally, Feb is far from expected. This means that there have been money movement out of the account.
2) Assuming March base interest is also around 450, it would mean the bonus interest is roughly 1.7K SGD only. This is far from the expected 2.3K for both Jan and Feb which also means money out of the account.

In general, your elder bro kept moving money in and out of this bank account and likely also left less than 1000 at some point?
CIMB uses end of day balance to give out base interest which requires more than 1000 in the account. Similar citriera for the bonus interest but requires 5K more than 30th Nov 2024.

You can refer to the TnC Point 10 illustration for the breakdown

 

[Agate8]

Looking at the details, i can say that your elder bro jumped the gun and actually landed in the Dec 2024 promotion

The moment i see 31 DEC +5K and the huge payout in March 2025 really locked it down for me.

Ignore the NOV in the name, this is the Dec 2024 promo
https://www.cimb.com.sg/content/dam/cimbsg/personal/document/tnc/accounts/2024/casa-tnc-nov2024.pdf

The actual start date is always the first of the month. The moment you increase the balance on 31st Dec by 5000, you have expressed interest in the Dec 2024 promo instead and thus, you have lost that 1 month worth of ~500 to 700k bonus interest.

This is the Jan 2025 promo for comparison - https://www.cimb.com.sg/content/dam/cimbsg/personal/document/tnc/accounts/2025/casa-tnc-jan2025.pdf

Hi,
Thank you for looking through my query.
I far as i can recall, i informed my bro about this promo on 31st Dec and the part of the T&C requires min balance $5K. I remembered asking him if he has min $5k balance for dec 2024 FS account. He said only $1xxx. So i told him to top up immediately on 31 Dec 24 which is NYE so that he can qualify for this promo. That's the reason for the last minute $5K top up on 31 Dec.

 

[sibeiTrolled]

Hi,
Thank you for looking through my query.
I far as i can recall, i informed my bro about this promo on 31st Dec and the part of the T&C requires min balance $5K. I remembered asking him if he has min $5k balance for dec 2024 FS account. He said only $1xxxk. So i told him to top up immediately on 31 Dec 24 which is NYE so that he can qualify for this promo. That's the reason for the last minute $5K top up on 31 Dec.

If i am not wrong, CIMB values incoming on a weekend or PH as that same day while some bank will value it +1 working day.

Check with your brother and see if that incoming 5K is dated 31st Dec, and if so, likely you will get the same reply from the CSO that you have participated in the Dec 2024 promo and NOT the Jan 2025 promo.

That's the reason for the last minute $5K top up on 31 Dec

In hindsight, was a bad idea. This means he essentially lost 1 month worth of BI and damm, he had 700K to throw?!

As for the interest he gotten, just do a quick check with him and see if he did move his money alot. The calculation is based on treating it as a fixed deposit (No movement out) though there could be a chance CIMB screwed up.

 

[Agate8]

If i am not wrong, CIMB values incoming on a weekend or PH as that same day while some bank will value it +1 working day.

Check with your brother and see if that incoming 5K is dated 31st Dec, and if so, likely you will get the same reply from the CSO that you have participated in the Dec 2024 promo and NOT the Jan 2025 promo.


In hindsight, was a bad idea. This means he essentially lost 1 month worth of BI and damm, he had 700K to throw?!

As for the interest he gotten, just do a quick check with him and see if he did move his money alot. The calculation is based on treating it as a fixed deposit (No movement out) though there could be a chance CIMB screwed up.

Hi,
Yes i saw his Dec 24 statement and i $5K is reflected on 31st Dec 24 that very evening.

If he doesn't have min $5k balance in his FS account he wouldn't qualify for this promo at all isnt it?

My intention in writing here is to check if it was mistake on my part or the bank, if so, i could follow up with the bank on this on my brother behalf.

 

[sibeiTrolled]

If he doesn't have min $5k balance in his FS account he wouldn't qualify for this promo at all isnt it?

if he didn't top up the 5K on 31 Dec 2024 and waited just 1 more day, then he would quality for the Jan 2025 promo which covers Jan Feb and March. In this case, the BI would be credited on 30 April 2025

But because he topped up on 31 Dec 2024, CIMB treated it as registering for the Dec 2024 promo which covers Dec Jan and Feb and credits the BI on 31 March 2025.

My intention in writing here is to check if it was mistake on my part or the bank, if so, i could follow up with the bank on this on my brother behalf.

IMO, It's not a mistake on your part. To me, you probably just didn't really understood the promo mechanics.
Not the bank fault as well, since the 5K was credited on 31 Dec 2024, to them it is saying loudly saying "I want to join dec 2024 promo last minute"

i was doing my own calculations for Feb & mar with each month min balance of $700K and i should be $18XX for Feb & Mar & $13XX for Jan! So i surprise at the Feb interest of only $4XX!

All i can say is to read through the TnC Point 10 - Illustration. The crucial point is that CIMB looks at end of day balance.
If you wish to calculate, then you must break down to each day, something like this. For your case, you must have a T4 Base and T4 bonus because your value exceeded 75K

Day	Balance	T1 Base	T1 Bonus	T2 Base	T2 Bonus	T3 Base
1​	60332.23​	0.8150685​	1.3767123​	1.5​	0.6917808​	0.9341468​
2​	60332.23​	0.8150685​	1.3767123​	1.5​	0.6917808​	0.9341468​
3​	60332.23​	0.8150685​	1.3767123​	1.5​	0.6917808​	0.9341468​
4​	60332.23​	0.8150685​	1.3767123​	1.5​	0.6917808​	0.9341468​
5​	60332.23​	0.8150685​	1.3767123​	1.5​	0.6917808​	0.9341468​

Yes, those were my values from the last promo... kinda lazy to mask it. I always zero out before i join their promo so i just used the entire balance for Bonus calculation.

EDIT -
End of the day, just wait for bank to contact then you will have your answer.
Whatever i said are just based on the TnC and my past experience with CIMB promo but i could also be wrong. Was also in the Dec 2024 promo and other earlier batches

 

[Agate8]

if he didn't top up the 5K on 31 Dec 2024 and waited just 1 more day, then he would quality for the Jan 2025 promo which covers Jan Feb and March. In this case, the BI would be credited on 30 April 2025

But because he topped up on 31 Dec 2024, CIMB treated it as registering for the Dec 2024 promo which covers Dec Jan and Feb and credits the BI on 31 March 2025.


IMO, It's not a mistake on your part. To me, you probably just didn't really understood the promo mechanics.
Not the bank fault as well, since the 5K was credited on 31 Dec 2024, to them it is saying loudly saying "I want to join dec 2024 promo last minute"


All i can say is to read through the TnC Point 10 - Illustration. The crucial point is that CIMB looks at end of day balance.
If you wish to calculate, then you must break down to each day, something like this. For your case, you must have a T4 Base and T4 bonus because your value exceeded 75K

Day	Balance	T1 Base	T1 Bonus	T2 Base	T2 Bonus	T3 Base
1​	60332.23​	0.8150685​	1.3767123​	1.5​	0.6917808​	0.9341468​
2​	60332.23​	0.8150685​	1.3767123​	1.5​	0.6917808​	0.9341468​
3​	60332.23​	0.8150685​	1.3767123​	1.5​	0.6917808​	0.9341468​
4​	60332.23​	0.8150685​	1.3767123​	1.5​	0.6917808​	0.9341468​
5​	60332.23​	0.8150685​	1.3767123​	1.5​	0.6917808​	0.9341468​

Yes, those were my values from the last promo... kinda lazy to mask it. I always zero out before i join their promo so i just used the entire balance for Bonus calculation.

Thank you so much for explaining it through to me and writing those detailed info.

Looks like i will need to apologize to my bro for my mistake. He has more money then me, so i will just blanjar him HKM as an apology!

Thank you once again for your inputs and time!

 

[sibeiTrolled]

Thank you so much for explaining it through to me and writing those detailed info.

Looks like i will need to apologize to my bro for my mistake. He has more money then me, so i will just blanjar him HKM as an apology!

Thank you once again for your inputs and time!

I edited my post just seconds before you posted but i will just bring it here as well.
Siblings, no need to fret over small things. Eat HKM, drink some liquor

EDIT -
End of the day, just wait for bank to contact then you will have your answer.
Whatever i said are just based on the TnC and my past experience with CIMB promo but i could also be wrong. Was also in the Dec 2024 promo and other earlier batches

 

[Agate8]

I edited my post just seconds before you posted but i will just bring it here as well.
Siblings, no need to fret over small things. Eat HKM, drink some liquor

Yes, He loves me and always dotes on me! So i will do my best to help him not to loose money. Hopefully i get bigger Xmas gifts. Looks like i may only get xmas card now!

Nevertheless, i appreciate your time and effort on pointing out where my mistake is on this matter!

I will wait for CIMB to contact me and see what they say officially.

Thank you sir and have a good weekend!

 

[oceanicmanta]

just called CIMB

they say their Product Team advised that the 0.5% bonus interest would be credited by 18 Jul 2025

shall wait n see

 

[maumu]

just called CIMB

they say their Product Team advised that the 0.5% bonus interest would be credited by 18 Jul 2025

shall wait n see

regardless, think it's time to close the account or draw down to $0 since there's no fbf.

they seem not interested to have promos with bonus interest.