CIMB FastSaver

[royalmix]

should be monthly average bal and end of day bal

month end balance, just ignore posts where they use their own words, they are trying to create their own tnc which I call falsehoods!

Always read the original tnc!

CIMB Fastsaver always use daily balance, never in their tnc can you find the words average balance! Kill all the falsehoods or fearmongering!

 

[pratik28]

hahaha, chill guys we all share and learn. Above all, just hope respective banks dont see these forums or it will become open secret.
Than bank will plan n modify tnc based on hardwarezone forums, hahaha.

 

[royalmix]

No fear! They copied from Esaver tnc

Sometimes bank intentional write it that way, to attract new customers lol, but customers must think savvy!

There are still many alternatives in Singapore, might be better next month haha
I just go to whichever is better!

Foreign banks, just be careful when tsunami strike US! I am on my guards!

By the way, I am in Smart Park 5.8%, making some money haha!

 

[PC-User]

Oh, then my understanding of your hack is inaccurate ....
As Ur hack is only for no need lock in, BUT will lose bonus interest on the 300k ??

Certain strategy may only be beneficial to an individual base on his own situation/plan. It may not give you any benefit or may even make you more confuse. So don't see 'hack' only very excited want to learn. It's not like you can hack the interest become higher or more.

E.g. if you just have some spare cash (which most probably you won't be using in the near future) to keep at better interest, just do it as normal. No need to make it complicated. Not must follow the lao jiao on how they're playing it.

 

[pratik28]

Will loose bonus int for the mnth if withdraw??
This apply to only new user rght as they need to maintain or increase compared to last month bal.

But for existing users if hav $0 in July comparison month, we can withdraw anytime any amt will still get bonus int for the days funds are kept with cimb?

Any1 can confirm this?
So for existing users with $0 bal in July, this cimb promo is almost similar to GXS, 3.5% accured int on daily balance, can withdraw any amt any time, will still get bonus int

 

[royalmix]

I deleted 2 of my hack posts since someone did a summary.

Dun say I never say, I have option to join esaver in sept and delay joining this game here, depends on news.

New users dun have to hack if you are happy to lock in your funds. It is just my happy mood of sharing, very rare!

 

[tinsel77]

I will delete my hack post since someone did a summary.

Dun say I never say, I have option to join esaver in sept and delay joining this game here, depends on news.

but u haven't find out the cut off time for deposit or withdrawal right?

 

[royalmix]

but u haven't find out the cut off time for deposit or withdrawal right?

No old bird willing to share, I new bird leh, google and chatgpt cannot find!

We still have time, when monthend hit saturday/sunday or first day hit sunday/public holiday, then need worry. Worst case, lose 2-3 days interest but can easily recover from esaver or other banks with good interest rates like isavvy. A little sacrifice to gain max flexibility in moving my funds is my objective.

Important thing, can run road fast if CIMB ...... you know what lah and dun lose BI!

 

[royalmix]

I googled on cut off times and landed in some hardwarezone FASTSAVER discussions in Oct 2022 complaining about the account opening process and app.

Oops, I am having second thoughts, I might go for a lower interest like isavvy or esaver instead, dun want the hustle of learning another cumbersome app

 

[Thai_Rak_Thai]

I googled on cut off times and landed in some hardwarezone FASTSAVER discussions in Oct 2022 complaining about the account opening process and app.

Oops, I am having second thoughts, I might go for a lower interest like isavvy or esaver instead, dun want the hustle of learning another cumbersome app

The cimb clicks interface on app much better than seaktop. Just my view

had been using it already since I have a CIMB credit card from before

 

[sglandscape]

The cimb clicks interface on app much better than seaktop. Just my view

had been using it already since I have a CIMB credit card from before

However can't change limits on the app. For some of the more complicated stuff still need to log in to the we page since they haven't build all the functionality in the app. But it's good enough.

 

[~sabaisabai~]

Any1 can confirm this?
So for existing users with $0 bal in July, this cimb promo is almost similar to GXS, 3.5% accured int on daily balance, can withdraw any amt any time, will still get bonus int

if jul balance is zero. u can top up min 1k to enjoy the 1.5+2% subsequent months. it has to be same amt or higher than previous month to be eligible for bonus interest

cimb fast saver is 1.5% bonus interest is 2%

 

[touchring1]

if jul balance is zero. u can top up min 1k to enjoy the 1.5+2% subsequent months. it has to be same amt or higher than previous month to be eligible for bonus interest

cimb fast saver is 1.5% bonus interest is 2%

Thanks for sharing, this cimb promotion is really difficult to get info. their website not much information. Especially for existing account holders, not sure if we can get 3.5% on new funds. Their website only says "For New-to-Bank customers:" . Also, it's not clear how many months this promotion will last.

 

[royalmix]

Base interest and bonus interest is calculated on a daily basis. To get the base interest, you have to maintain at least 1k (fastsaver), ie daily basis, if you dun have at least 1k, no interest. No base interest = no bonus interest!

Bonus interest is based on daily incremental balance above July monthend balance. No incremental means no bonus.

Hope it is clear for existing customers!

I am a potential new customer. No bonus interest if mthend balance is < prior mth's monthend balance. Still earn daily interest if I maintain at least 1k, no daily interest if less than 1k. It is daily basis. Every day I will get accrued bonus interest but if mthend I dun meet the criteria, there goes the accrued bonus interest.

Both new and existing customers: It is in the base tnc, to get daily interest, must have at least 1k. Promo tnc for existing customers also state : for base interest and bonus interest, must maintain at least 1k to get interest accrued daily.

(to play safe, I will keep at least 1k on month end!

https://www.cimb.com.sg/content/dam...overning-casa-bonus-interest-promo-23-etb.pdf@touchring1

Use handphone to google interface to read is better
I always use desktop, it is different.

 

[sglandscape]

Thanks for sharing, this cimb promotion is really difficult to get info. their website not much information. Especially for existing account holders, not sure if we can get 3.5% on new funds. Their website only says "For New-to-Bank customers:" . Also, it's not clear how many months this promotion will last.

The site have a button that shows different tnc for new or existing customer though.

 

[tiertime]

May I know is it open online is immediate while open over branch need to make appointment ?

The Fast Saver and Star Saver both can get 3.5% right (?)

Apart frm :
- the difference in amount required to open account ,
- w/wo cheque book ,
got wat other difference between these 2 account typez ?

 

[sglandscape]

May I know is it open online is immediate while open over branch need to make appointment ?

The Fast Saver and Star Saver both can get 3.5% right (?)

Apart frm :
- the difference in amount required to open account ,
- w/wo cheque book ,
got wat other difference between these 2 account typez ?

Branch opening shoukd be instant. Any reason for not doing it via Singpass?

 

[BaDBoI]

Simplified Explanation for all
(FastSaver)

New Customer
DAILY interest 3.5%(PA) for $1000 to Unlimited amount
Conditions to meet/End Day Balance to watch
*31/8, 30/9, 31/10, 30/11, 31/12, 31/01*
Each date above your closing balance MUST be SAME or ABOVE the previous date balance
(ie. $1000, $1000, $1000, $1000, $1000, $1000 or $1000, $2000, $2000, $2001, $1000000000)

Existing Customer
DAILY interest 3.5%(PA) for Incremental Balance (Daily balance - Reference Amount)
Conditions to meet/Reference Date to watch
*31/07/2023* <Closing Balance = Reference Amount>
*31/8, 30/9, 31/10, 30/11, 31/12, 31/01*
Each date above your closing balance MUST be ABOVE Reference Amount

 

[SantyBalls]

Simplified Explanation for all
(FastSaver)

New Customer
DAILY interest 3.5%(PA) for $1000 to Unlimited amount
Conditions to meet/End Day Balance to watch
*31/8, 30/9, 31/10, 30/11, 31/12, 31/01*
Each date above your closing balance MUST be SAME or ABOVE the previous date balance
(ie. $1000, $1000, $1000, $1000, $1000, $1000 or $1000, $2000, $2000, $2001, $1000000000)

Existing Customer
DAILY interest 3.5%(PA) for Incremental Balance (Daily balance - Reference Amount)
Conditions to meet/Reference Date to watch
*31/07/2023* <Closing Balance = Reference Amount>
*31/8, 30/9, 31/10, 30/11, 31/12, 31/01*
Each date above your closing balance MUST be ABOVE Reference Amount

Reference amt refers to?

 

[BaDBoI]

Reference amt refers to?

*31/07/2023* <Closing Balance = Reference Amount>