CIMB FastSaver

[sglandscape]

Registering via their chat bot seems weird as it doesn't ask for any of your details for verification such as account number to confirm the specific account for participation. It is just a simple click of the "sign up now" button, that's it. Wonder how cimb will know the correct customer who sign up in this manner and which account you intend to fund for the promotion...hmm

This seems to be the only way to register though? Can't seem to register using any other means. Anyway, it'll be based on your mobile number and apply to all qualifying accounts.

Have received cash back from the chat bot during their CNY promo and they did credit the cash correctly to the account.

 

[a4973]

You have both accounts now ?

yes, all at $0
anyway i calculated using Blended Interest rate and SSA wins for $290k All In. (i incorrectly typed 250 in earlier post )

 

[sglandscape]

yes, all at $0
anyway i calculated using Blended Interest rate and SSA wins for $290k All In. (i incorrectly typed 250 in earlier post )

This is compared against?

 

[a4973]

This is compared against?

Comparing split 75k in FSA and 215k in SSA.

 

[sglandscape]

Comparing split 75k in FSA and 215k in SSA.

I'm sorry i still don't get it, it's better because you're assuming you get more interest earlier and it compounds?

 

[a4973]

I'm sorry i still don't get it, it's better because you're assuming you get more interest earlier and it compounds?

Yes, based on my numbers :
FSA 75k + SSA 215K gets a Blended Prevailing IR of 2.155%
SSA 290K gets a Blended Prevailing IR of 2.293%

 

[sglandscape]

Yes, based on my numbers :
FSA 75k + SSA 215K gets a Blended Prevailing IR of 2.155%
SSA 290K gets a Blended Prevailing IR of 2.293%

Both would give 3.5% with the promo, just that maybe you'll get a bit more because of the earlier inteedt with the SSA

 

[a4973]

Both would give 3.5% with the promo, just that maybe you'll get a bit more because of the earlier inteedt with the SSA

yep

 

[DevilPlate]

Registering via their chat bot seems weird as it doesn't ask for any of your details for verification such as account number to confirm the specific account for participation. It is just a simple click of the "sign up now" button, that's it. Wonder how cimb will know the correct customer who sign up in this manner and which account you intend to fund for the promotion...hmm

Exactly my thought

 

[Kayeesha]

One of the conditions to qualify for the bonus interest is to maintain a minimum deposit ($1k for FSA and $5k for SSA). But how long is the deposit to be maintained for – all the way till 31 Jan 2023?

 

[sglandscape]

One of the conditions to qualify for the bonus interest is to maintain a minimum deposit ($1k for FSA and $5k for SSA). But how long is the deposit to be maintained for – all the way till 31 Jan 2023?

Likely so!

 

[EveMuffins]

register now but only transfer money in on 1 Sep also can qualify for 3.5% right? my 31 jul balance only $50.

 

[sglandscape]

register now but only transfer money in on 1 Sep also can qualify for 3.5% right? my 31 jul balance only $50.

Yes can based on this. But to be safe, maybe out at least 1k for FSA or 5k for SSA because the TnC said to maintain that balance to get the bonus (though it should be daily and those days you domt you don't get it)

*Interest/profit accrued daily and credited monthly. Daily interest/profit will be paid on the entire daily balance, provided that the balance is at least S$1,000 in your savings and S$5,000 in current account on any given day. Indicated rates are based on prevailing base rates and correct as of 1 August '23. Other terms and conditions apply. Please refer to the individual product pages for details.

 

[twosix]

Whatsapp using ur phone number I think. bank will use the phone number to verify ur acct #.

 

[vsvs24]

One of the conditions to qualify for the bonus interest is to maintain a minimum deposit ($1k for FSA and $5k for SSA). But how long is the deposit to be maintained for – all the way till 31 Jan 2023?

Aiyoh. Please go and read tnc.

Different tnc for new and existing. Tnc shows example.

 

[sohguanh]

Thank you for the new lobang. Already registered. 6 months compared to my July 1 cent good deal. If GXS should reduce rate faster go into this CIMB which is even better than SCB eSaver and Maybank iSavvy (for < 200K tier). Con is need maintain 1K for StarSaver, 5K for FastSaver

I think to diversify a bit shift some out from my GXS into this.

 

[sohguanh]

balance is at least S$1,000 in your savings and S$5,000 in current account
--

Can anyone confirm StarSaver is savings correct? It need minimum 1K
FastSaver is current account correct? It need minimum 5K ?

To play safe just dump 5K to either one of them will do sure ok ?

 

[vsvs24]

balance is at least S$1,000 in your savings and S$5,000 in current account
--

Can anyone confirm StarSaver is savings correct? It need minimum 1K
FastSaver is current account correct? It need minimum 5K ?

To play safe just dump 5K to either one of them will do sure ok ?

Fastsaver is savings. Starsaver is current.

Open Fastsaver better. A few years later no more cheques so current account will be phased off.

Fastsaver no fall below fee but need min $1000 to earn interest.

 

[zer0ne]

Existing SSA holder open FSA today around noon and my account already activated before 6pm. Going to drain SCB to this next week.

 

[sohguanh]

Fastsaver is savings. Starsaver is current.

Open Fastsaver better. A few years later no more cheques so current account will be phased off.

Fastsaver no fall below fee but need min $1000 to earn interest.

Thanks for confirmation. I login the wording is below. I got 2 CIMB accounts.
Preferred Account (CA)
FastSaver Account (SA)
I think CA means current account. SA means savings account. So you are correct to play safe I put into FastSaver since the English word matches the TnC so they later cannot don't give me interest.