CIMB FastSaver

[pratik28]

Yes. Treat it as a 2 months FD that doesn't penalize you for the entire period for withdrawal with exception at month end. Just don't leave it less than incremental 5K at month end

1 good thing about CIMB is their TnC illustrates their example of month end and day end. You can also refer that that to better understand.

Interesting! Does sc esaver have the same flexibility as cimb? that is doesn't penalize you for the entire period for withdrawal

 

[sibeiTrolled]

Interesting! Does sc esaver have the same flexibility as cimb? that is doesn't penalize you for the entire period for withdrawal

AFAIK, all these promos are flexible as they tend to be calculated daily then given out monthly or at a later date.

But to be sure, please go through the TnC or read through the discussion at the eSaver thread or ask there.

 

[pixelspics]

Dam, it seems like CIMB is following route of HSBC in giving the bonus interest / profits late.

For anyone lazy to read, please freaking read the TNC and for anyone that wishes to play around, there is now the day end comparison and month end comparision.

Do note that that the bonus interest / profits will be given out in Sept 24

"Bonus Interest/Profit (if any) will be accrued daily and credited into the Qualifying Account(s) on 2 September 2024."

Bye, time to go to ESaver LOL

After Sept 24, will there still be bonus given?

 

[pratik28]

AFAIK, all these promos are flexible as they tend to be calculated daily then given out monthly or at a later date.

But to be sure, please go through the TnC or read through the discussion at the eSaver thread or ask there.

ya, like I just check with maybank, need to maintain ADB of 10k to qualify for their 3.5%.

 

[ThreeSteps]

It says for amount over $250k the prevailing interest will be straight 3.5%. So there may not be need of any bonus interest to be credited in Sep.

I may be wrong, but this is my understanding (SSA):
Prevailing interest is calculated based on daily end-of-day balance. If you keep daily $250k or higher for the
entire month, you get 3.5% prevailing interest from the first dollar up. There will not be bonus interest.

If keep $80k daily (1st-10th), $180k daily (11th-20th) and $250k daily (21st-30th),
will get 1.5% prevailing interest from the first dollar up (1st-10th) - will have some bonus interest
will get 2.5% prevailing interest from the first dollar up (11th-20th) - will have some bonus interest
will get 3.5% prevailing interest from the first dollar up (21st-30th) - no bonus interest

 

[V_for_Vanilla]

I may be wrong, but this is my understanding (SSA):
Prevailing interest is calculated based on daily end-of-day balance. If you keep daily $250k or higher for the
entire month, you get 3.5% prevailing interest from the first dollar up. There will not be bonus interest.

At first I also thought this way. But the tnc language is quite clear. The prevailing rates are tiered.

Example say I place $260k for the entire month.
The first 100k will get a prevailing rate of 1.5%
The next $150k will get prevailing rate of 2.5%
And the last $10k will get a prevailing rate of 3.5%
At the end of the month I would get prevailing rate interests.
On Sep 2 I would get bonus interest for the first 100k and the next 150k. None for the last 10k.

 

[Pyroxene]

what is the purpose of having both day end and month end comparison? doesn't day end already cover month end?

If you satisfy the daily-comparison condition every day, then you will satisfy the month-end condition too, and will earn bonus interest for all days within that month

If you satisfy the month-end condition, that doesn't mean you will necessarily satisfy the daily-comparison condition for every day within the month. For example, you might meet the daily check for the last 15 days of the month (including the critical last day), but not the first 15 days. In this case, you will earn bonus interest for half the month.

But yes it is easiest to just put in 5k and not touch the account thereafter.

 

[compro_1975]

CIMB the 5k newest promotion no need register via their whatsapp system? could not find that part

 

[sohguanh]

CIMB the 5k newest promotion no need register via their whatsapp system? could not find that part

Think no need and must play game with daily end of balance, month end of balance. Mari Invest easier and so far higher than 3.5%

 

[compro_1975]

Think no need and must play game with daily end of balance, month end of balance. Mari Invest easier and so far higher than 3.5%

I tryvto understand mari invest... Will there be a chance all my savings be gone for mari invest?

 

[sohguanh]

I tryvto understand mari invest... Will there be a chance all my savings be gone for mari invest?

Diversify lor. Here a bit there a bit cannot be so sway all gone at same time mah

 

[compro_1975]

CIMb cut off time is 12am? wanna transfer but no access to ibanking now...

 

[questionman26]

shall i go for this or ssb? the month end criteria make it impossible to withdraw for next month ssb application!

 

[wutawa]

shall i go for this or ssb? the month end criteria make it impossible to withdraw for next month ssb application!

if u have less than $25k, u should aim for this 4%. if u have more than $25k, aim for ssb 3.3%.

 

[BugsBunny58]

If I deposit incremental of &25k, can I withdraw $20k at end month ?

 

[xXxJavierxXx]

if u have less than $25k, u should aim for this 4%. if u have more than $25k, aim for ssb 3.3%.

4% is a win!

 

[Sambuca78]

4% is a win!

The +0.5% is up to 25k and 2 months only.

I aga ago count, only $20.49 more for the 60 days.

 

[tiertime]

4% is a win!

Which bank got give 4% ?
Start alr ?
For How many months ?

 

[pratik28]

Which bank got give 4% ?
Start alr ?
For How many months ?

The bank this thread belongs to, haha CIMB,
though its 3.5%
and credit your salary or set up scheduled recurring transfers (Standing Instructions via GIRO) of minimum S$1,000 into your CIMB FastSaver Account to earn additional interest rate of 0.50%^ p.a. on the first S$25,000 of your CIMB FastSaver Account balance.

Notsure if PayNow salary transfer accepted
as it says,
The following transactions are excluded from salary crediting:
 Any transaction from an individual’s account (including PayNow);

 

[compro_1975]

Which bank got give 4% ?
Start alr ?
For How many months ?

interested also