CIMB FastSaver

[sohguanh]

Already an existing Fast & Star Saver account holder.

But looking at your comment trigger a thought!

The 31/7 $100K funds was in Fastsaver, does that mean i can move it to Star saver (as of 31/7 funds is ~$1K ) and enjoy the CASA promo?

Any financial/legal expert who read through the T&C can comment?

Many readers share before.
Fastsaver -> bank A -> Starsaver
or you scared they check you go out come in same bank can do below
Fastsaver -> bank A -> bank B -> Starsaver

If you see the details displayed for every transfer out/in txn it will somehow put the receive,sender bank account. If you scared they see you "play cheat", then go a longer route then.

 

[ThreeSteps]

Already an existing Fast & Star Saver account holder.

But looking at your comment trigger a thought!

The 31/7 $100K funds was in Fastsaver, does that mean i can move it to Star saver (as of 31/7 funds is ~$1K ) and enjoy the CASA promo?

Any financial/legal expert who read through the T&C can comment?

Disclaimer: I have only one existing a/c with CIMB (i.e. FastSaver), and not familiar with StarSaver. I am not an expert. I assume you have already read the T&Cs for Existing Customers and understand the key points.
T&Cs for Existing Customers: https://www.cimb.com.sg/content/dam...overning-casa-bonus-interest-promo-23-etb.pdf (must read)

Below are just some additional comments for your situation:
Since you have a high balance $100k for FastSaver and a low balance $1k for StarSaver as at 31July, read T&Cs for Existing Customers – point#3 ‘Qualifying Accounts’ and point#4 ‘to qualify for this promotion’. After reading, it is better to contact CIMB to confirm if you can use existing StarSaver a/c for this 3.5% promo and only the $1k balance (not the total of $101k) as at 31July will be used for comparison in the calculation of bonus interest. If you do not know, you should also confirm with them if StarSaver is classified as Saving a/c (min.$1k fresh fund) or Current a/c (min.$5k fresh fund)

For Existing customer, it is important to register for the promo, and after registration then transfer in the minimum fresh funds of $1k/$5 before 31Aug to ‘lock’ into the promo. You should ideally use another bank a/c (not that eSaver a/c -Std Chartered) to do the transfer. Read T&Cs point#5 (‘fresh funds’). The promo give 6 interest-earning months of Aug2023 to Jan2024. Although you may not be able to maximise for the month of Aug2023, the remaining 5 months is still a good option to play with regardless you actually decide to transfer your main funds into StarSaver after Aug.

I assume you are currently able to earn equivalent bonus interest with eSaver a/c (Std Chartered). Read point#1 and point#5 of T&Cs – it appear to be safer to transfer your main funds (‘fresh funds’) into StarSaver from 1st Sep rather than transfer within the same month of Aug where you have transferred $$ out from FastSaver on 1 Aug. In addition, you can also wait until 20th Sep to verify bonus interest earned for the $1k/$5k fresh deposit, since prevailing interest will be credited on 31Aug and bonus interest will be credited on 20Sep.

 

[Agate8]

u need to transfer the funds out to other bank and back to Star saver account to enjoy CASA promo., please check out post# 2704 by Bro ThreeSteps.

Many readers share before.
Fastsaver -> bank A -> Starsaver
or you scared they check you go out come in same bank can do below
Fastsaver -> bank A -> bank B -> Starsaver

If you see the details displayed for every transfer out/in txn it will somehow put the receive,sender bank account. If you scared they see you "play cheat", then go a longer route then.

Disclaimer: I have only one existing a/c with CIMB (i.e. FastSaver), and not familiar with StarSaver. I am not an expert. I assume you have already read the T&Cs for Existing Customers and understand the key points.
T&Cs for Existing Customers: https://www.cimb.com.sg/content/dam...overning-casa-bonus-interest-promo-23-etb.pdf (must read)

Below are just some additional comments for your situation:
Since you have a high balance $100k for FastSaver and a low balance $1k for StarSaver as at 31July, read T&Cs for Existing Customers – point#3 ‘Qualifying Accounts’ and point#4 ‘to qualify for this promotion’. After reading, it is better to contact CIMB to confirm if you can use existing StarSaver a/c for this 3.5% promo and only the $1k balance (not the total of $101k) as at 31July will be used for comparison in the calculation of bonus interest. If you do not know, you should also confirm with them if StarSaver is classified as Saving a/c (min.$1k fresh fund) or Current a/c (min.$5k fresh fund)

For Existing customer, it is important to register for the promo, and after registration then transfer in the minimum fresh funds of $1k/$5 before 31Aug to ‘lock’ into the promo. You should ideally use another bank a/c (not that eSaver a/c -Std Chartered) to do the transfer. Read T&Cs point#5 (‘fresh funds’). The promo give 6 interest-earning months of Aug2023 to Jan2024. Although you may not be able to maximise for the month of Aug2023, the remaining 5 months is still a good option to play with regardless you actually decide to transfer your main funds into StarSaver after Aug.

I assume you are currently able to earn equivalent bonus interest with eSaver a/c (Std Chartered). Read point#1 and point#5 of T&Cs – it appear to be safer to transfer your main funds (‘fresh funds’) into StarSaver from 1st Sep rather than transfer within the same month of Aug where you have transferred $$ out from FastSaver on 1 Aug. In addition, you can also wait until 20th Sep to verify bonus interest earned for the $1k/$5k fresh deposit, since prevailing interest will be credited on 31Aug and bonus interest will be credited on 20Sep.

Thanks guys for sharing these tips. Its time that we retails customers get some money back from Bankers who have been getting fat pay packages and giving us 0.05% "peanuts" interest for decades!!!

I had the same issue with SCB esaver and lost 2 months of BI when they change their Promo structure during may! Haizz...

ps. Those banks RMs are really useless and add no value! You guys do more then RMs! Thanks

 

[royalmix]

Thanks guys for sharing these tips. Its time that we retails customers get some money back from Bankers who have been getting fat pay packages and giving us 0.05% "peanuts" interest for decades!!!

I had the same issue with SCB esaver and lost 2 months of BI when they change their Promo structure during may! Haizz...

ps. Those banks RMs are really useless and add no value! You guys do more then RMs! Thanks

If you know how to play merry go round games, play with Esaver (peronal) and Esaver (joint) or with another bank account! SCB esaver game is one of the best, the other banks then start to follow this game! Esaver is very consistent, every 2 mths play one game, empty the account to prepare for the next game!

Donkey years ago, some RMs very good, share how to play games that work against tnc, these are good RMs, depends on luck!

You are smart, I just hint and you got! Some others dun get my hint, complaint I am trolling!

 

[royalmix]

so should open account in aug or sep for new customers?

I shared before, New Customers which meet the tnc definition, if you can wait till Sept, you extend your promo period to Feb 2024, no existing customers can enjoy this game as their game end in Jan 2024!

 

[vaxvms]

so should open account in aug or sep for new customers?

new customer just do it when n where u comfortable n treat it as 6 mth FD

 

[royalmix]

new customer just do it when n where u comfortable n treat it as 6 mth FD

He has been following this thread, he knows it need not be a 6 mth FD! Will not lose 1 day's interest if he know where to park the funds, just pay a little "insurance" for flexibility to run when there is better opportunities or when there is an emergency or "black swan event coming" (using your words posted in another thread this morning)!

 

[tinsel77]

He has been following this thread, he knows it need not be a 6 mth FD! Will not lose 1 day's interest if he know where to park the funds, just pay a little "insurance" for flexibility to run when there is better opportunities or when there is an emergency or "black swan event coming" (using your words posted in another thread this morning)!

yeah. i remember your hack. just waitin for the maturity of my fd funds in mid sept from another place

 

[royalmix]

yeah. i remember your hack. just waitin for the maturity of my fd funds in mid sept from another place

Just nice! I also placed my funds in 5.8% and more than 4%, still need to wait for Sept. So long you open any time in Sept, you will earn 3.5%pa starting from Sept date of opening till end Feb 2024.

 

[tinsel77]

Just nice! I also placed my funds in 5.8% and more than 4%, still need to wait for Sept. So long you open any time in Sept, you will earn 3.5%pa starting from Sept date of opening till end Feb 2024.

so if i open my account now with no funds, the start date is now? not when my funds are deposited?

 

[royalmix]

so if i open my account now with no funds, the start date is now? not when my funds are deposited?

Account opening date, here is the tnc:

If Customers meet the qualifying criteria stipulated in these terms, Customers will earn a flat
interest/profit rate of 3.50% p.a. (inclusive of prevailing rate) on their entire balance in the
Qualifying Account(s) for the first 6 calendar months after account opening

 

[tinsel77]

Account opening date, here is the tnc:

If Customers meet the qualifying criteria stipulated in these terms, Customers will earn a flat
interest/profit rate of 3.50% p.a. (inclusive of prevailing rate) on their entire balance in the
Qualifying Account(s) for the first 6 calendar months after account opening

ok thanks. wait for my money to come back 1st then

 

[Jun666]

If I top up fresh funds into both FastSaver & StarSaver accounts, then both will gain 3.50% ?

 

[GenerationX]

Disclaimer: I have only one existing a/c with CIMB (i.e. FastSaver), and not familiar with StarSaver. I am not an expert. I assume you have already read the T&Cs for Existing Customers and understand the key points.
T&Cs for Existing Customers: https://www.cimb.com.sg/content/dam...overning-casa-bonus-interest-promo-23-etb.pdf (must read)

Below are just some additional comments for your situation:
Since you have a high balance $100k for FastSaver and a low balance $1k for StarSaver as at 31July, read T&Cs for Existing Customers – point#3 ‘Qualifying Accounts’ and point#4 ‘to qualify for this promotion’. After reading, it is better to contact CIMB to confirm if you can use existing StarSaver a/c for this 3.5% promo and only the $1k balance (not the total of $101k) as at 31July will be used for comparison in the calculation of bonus interest. If you do not know, you should also confirm with them if StarSaver is classified as Saving a/c (min.$1k fresh fund) or Current a/c (min.$5k fresh fund)

For Existing customer, it is important to register for the promo, and after registration then transfer in the minimum fresh funds of $1k/$5 before 31Aug to ‘lock’ into the promo. You should ideally use another bank a/c (not that eSaver a/c -Std Chartered) to do the transfer. Read T&Cs point#5 (‘fresh funds’). The promo give 6 interest-earning months of Aug2023 to Jan2024. Although you may not be able to maximise for the month of Aug2023, the remaining 5 months is still a good option to play with regardless you actually decide to transfer your main funds into StarSaver after Aug.

I assume you are currently able to earn equivalent bonus interest with eSaver a/c (Std Chartered). Read point#1 and point#5 of T&Cs – it appear to be safer to transfer your main funds (‘fresh funds’) into StarSaver from 1st Sep rather than transfer within the same month of Aug where you have transferred $$ out from FastSaver on 1 Aug. In addition, you can also wait until 20th Sep to verify bonus interest earned for the $1k/$5k fresh deposit, since prevailing interest will be credited on 31Aug and bonus interest will be credited on 20Sep.

o **** need register? i already transfer my gxs to here

 

[sohguanh]

o **** need register? i already transfer my gxs to here

Yes need register!!! You play safe transfer out to bank A first. Register all complete ok then transfer back in. Scared they say you "play cheat" bank A -> bank B -> back to cimb account

 

[ThreeSteps]

If I top up fresh funds into both FastSaver & StarSaver accounts, then both will gain 3.50% ?

Refer to the bank website:
https://www.cimb.com.sg/en/personal...sa_b2:casapromo_b3:gws_b4:home_b5:hero_b6:def
T&Cs for New Customers: https://www.cimb.com.sg/content/dam...cs-governing-casa-bonus-interest-promo-23.pdf (must read)
T&Cs for Existing Customers: https://www.cimb.com.sg/content/dam...overning-casa-bonus-interest-promo-23-etb.pdf (must read)

CIMB CASA Bonus Interest/Profit Promotion 2023
The key points for Existing customers with existing qualifying accounts are:
( 1 ) read point#10 of T&Cs for Existing Customers - ‘Incremental Fresh Funds Balance refers to comparing end-day-balance on that day against that of 31 July 2023 ……’ (note: the balance on 31July in your a/cs should be $0 or very low $balance because this value is used for comparison in the calculation of bonus interest)

( 2 ) read point#4 of T&Cs for Existing Customers - must register for the promo within Aug 2023, latest by 31Aug. After registration, transfer in fresh funds by 31Aug to ‘lock’ into the promo (minimum S$1k for savings a/c or S$5k for current a/c)

( 3 ) There are 6 interest-earning months - Aug, Sep, Oct, Nov, Dec and Jan2024 (can transfer in and withdraw any time during this period, no lock-in requirement)
Read point#4(c ) of T&Cs for Existing Customers: ‘maintain minimum deposit of S$1,000 for savings and S$5,000 for current account to qualify for prevailing interest/profit in order to qualify for bonus interest/profit’ (note: if you make multiple deposits/withdrawals/re-deposits during the period (Aug2023 to Jan2024), you should leave minimum $1k/$5k balance behind each time instead of withdrawing down to $0 balance - This is more for safety, peace of mind)

( 4 ) Read point#7 of T&Cs for Existing Customers: ‘Prevailing and Bonus Interest/Profit Rates’
(note: prevailing interest will be credited at month-end & bonus interest will be credited on 20th of the following month).

After you have read the T&Cs and understood the key points, then you must contact CIMB to ask about using your 2 accounts at the same time for the same promo. (note: I don’t understand why you want to use 2 accounts)

 

[Arandalo]

(note: I don’t understand why you want to use 2 accounts)

Possibly for more SDIC protection of $75,000 * 2 ?

 

[royalmix]

If I top up fresh funds into both FastSaver & StarSaver accounts, then both will gain 3.50% ?

My understanding (I thought I read it somewhere) is only one account qualifies. Edit: I just read the whole tnc again, tnc indicate ambiguities (some state account, some state account(s), so best to call the bank to clarify if you want both. No tnc state one account only - where did I read it?

When you register, and if you have many accounts, how does the bank know which one to give you?

(I am not customer yet) - it will be a potential benefit for new customers if can have more than one account! No need to hack! ( but I will still hack)

If more than one account can qualify, existing customers who transfer from one account to another are potentially at risk! Read tnc bold: 5. For the purpose of these terms and conditions, “fresh funds” are funds that do not originate from any existing account with CIMB Bank including without limitation the following: a. funds in the form of non-CIMB cheques; b. other funds that are not transferred from any existing CIMB current, savings or fixed deposit account; c. other funds that are not withdrawn from any existing CIMB current, savings or fixed deposit account and re-deposited (whether partial or all of the amount withdrawn) into the new account with CIMB within the Promotion Period.

(Then dun make sense why this clause is there? maybe for some?)

Who volunteers to call the bank about this and get a written reply or which tnc say can, ie more than one qualifying account can get 3.5% interest? @a4973 pls help!

 

[royalmix]

o **** need register? i already transfer my gxs to here

If you already activated the account (read tnc below) by transferring money in, remember to register to activate the promo, then you will get 3.5% for all monies deposited in Aug if you meet all the conditions, my understanding reading the tnc below:

(I am not customer yet)

Read tnc below:

4. To qualify for this Promotion, a. a customer must hold a Qualifying Account within the Promotion Period; b. deposit incremental fresh funds into the Qualifying Account; c. maintain minimum deposit of S$1,000 for savings and S$5,000 for current account to qualify for prevailing interest/profit in order to qualify for bonus interest/profit and d. register for this Promotion within the Promotion Period through our official corporate website (www.cimb.com.sg) or CIMB Eva Chatbot

 

[Jun666]

After you have read the T&Cs and understood the key points, then you must contact CIMB to ask about using your 2 accounts at the same time for the same promo. (note: I don’t understand why you want to use 2 accounts)

Just wanna maximize the profits as you dont earn bonus above 75k