CIMB FastSaver

[CrashWire]

I am now totally no idea with how to calculate due to the above senerio,
This month is a new cycle, the CSO SAys if I want to continue, just withdraw out from my Starsaver to put in another bank then redeposit into FastSaver to qualify

Wow, can musical chairs between StarSaver and FastSaver? Nice, will do that next month after HSBC EGA (assuming promo continues).

 

[oceanicmanta]

I hv no idea why the CSO kept telling me the interest is calculated DAILY based on TIER, When the website alr stated the promo rate for Jun, Jul, Aug was 3.5%.... sigh...

Maybe I will do an excel too and call them up again... Wah so troublesome

Base/Prevailing Interest is accrued Daily, based on End of Day balance, it is tiered

Bonus Interest is computed based on the Month's Avg Daily Balance ... it is also tiered

... this is referring to the current CASA nterest promo

 

[rest1ess]

Different tier different interest % given , u dunno meh

Are we talking about same promo?

https://www.cimb.com.sg/content/dam...024/TnC_CASA_Bonus_Interest_NTB_ETB_Aug24.pdf

 

[compro_1975]

i completed my calculation... lots to run thru cos it is my primary account for withdrawal etc...

my formula is : daily balance * 2% /365 and sum of Jun and Jul's interest got me about $420 on 2 sep

my balance on prior to jun was 0

off to calculate the SI promo interest now

 

[hyperbole]

i completed my calculation... lots to run thru cos it is my primary account for withdrawal etc...

my formula is : daily balance * 2% /365 and sum of Jun and Jul's interest got me about $420 on 2 sep

my balance on prior to jun was 0

off to calculate the SI promo interest now

You can’t just calculate based on 2% cos the base interest is tiered. Check the tnc

 

[compro_1975]

You can’t just calculate based on 2% cos the base interest is tiered. Check the tnc

but hor, as per point 8 it the period seems a flat 3.5% in total.. no?

https://www.cimb.com.sg/content/dam...4/tnc_CASA_Bonus_Interest_Promo_ETB_Jun24.pdf

Flat 3.50% p.a.
(inclusive of prevailing rates) for June, July and August 2024 (“Bonus Interest/Profit Earning Period”)

 

[hyperbole]

but hor, as per point 8 it the period seems a flat 3.5% in total.. no?

https://www.cimb.com.sg/content/dam...4/tnc_CASA_Bonus_Interest_Promo_ETB_Jun24.pdf

Flat 3.50% p.a.
(inclusive of prevailing rates) for June, July and August 2024 (“Bonus Interest/Profit Earning Period”)

Yes, added together 3.5%. But did you check what is the % of base interest you got?

 

[fr33d0m]

the base interest for me is correct to the cent for every month. so I doubt there is any error in calculating the interest.

 

[oceanicmanta]

i m on StarSaver , Jun n Jul + extended Aug promo

Base Interest for Jun + Jul are correct ( credited with $0.11 more )
Bonust Interest for Jun + Jul also correct ( credited with $0.28 more ) - this was credited on 2 Sep

the total interest is close to 3.5%pa

Base Interest for Aug, was credited with $12+ more than my calculations ( will need to check the day end balances )

Bonus for Aug - pending crediting

 

[fr33d0m]

i m on StarSaver , Jun n Jul + extended Aug promo

Base Interest for Jun + Jul are correct ( credited with $0.11 more )
Bonust Interest for Jun + Jul also correct ( credited with $0.28 more ) - this was credited on 2 Sep

the total interest is close to 3.5%pa

Base Interest for Aug, was credited with $12+ more than my calculations ( will need to check the day end balances )

Bonus for Aug - pending crediting

base interest is tiered, if you have some days with more than 25K, there is additional 1% for amount above 25K, for amount above 50K, already 3.5%, no bonus interest.

 

[oceanicmanta]

base interest is tiered, if you have some days with more than 25K, there is additional 1% for amount above 25K, for amount above 50K, already 3.5%, no bonus interest.

that is FastSaver Base interest tier structure

StarSaver has different tier structure

my calculations are as follows :

1) Base interest accrued daily, and credited end of month

2) Bonus Interest is simply total 3.5%pa less credited Base Interest

 

[fr33d0m]

isn't this titled CIMB FastSaver....

 

[Ch3tah_39]

https://www.cimb.com.sg/en/personal/promotions/latest-promotions/accounts/casa-ntb-35.html#existing

Finally found the link to this month promo.

Since only fresh funds earn bonus interest, does it mean interest earned in Sep will not earn any bonus interest in subsequent month?

 

[tiertime]

anyone got tips how to open malaysia CIMB account?

Go to the SG HQ they will help u submit form to open the CIMB AirAsia Savings account , do it early,

I think my application was delayed frm 2 to 3 mths early this year, due to SG side unknowingly submitted an outdated form to MY , and they ding dong and caused much delay


If u want fast, you can go to CIMB MY BaNK and they can help u , but need a MY Phone number and bring Passport

If u do in SG I think also need bring passport

 

[tiertime]

Wow, can musical chairs between StarSaver and FastSaver? Nice, will do that next month after HSBC EGA (assuming promo continues).

Dun take my word for it, if very kiasi, suggest to ask RM email u in black and white or take down the CSO NAME AND DATE when you spoke to keep a record,
Just in case....

 

[tiertime]

Are we talking about same promo?

https://www.cimb.com.sg/content/dam...024/TnC_CASA_Bonus_Interest_NTB_ETB_Aug24.pdf

I think look the same, must hv incremental as compared to last day of previous month by 5k

I took part in Jun jul Aug, so my reference day is last day of May ,

Early Jun , i credited ard 6k
Then always kept it above this level with several in and out transactions

So I dunno if the actual interest they gave me is accurate or not as, I hv not calculated on my own yet

 

[tiertime]

i completed my calculation... lots to run thru cos it is my primary account for withdrawal etc...

my formula is : daily balance * 2% /365 and sum of Jun and Jul's interest got me about $420 on 2 sep

my balance on prior to jun was 0

off to calculate the SI promo interest now

U used Fast saver or Star Saver...
Why u calculated based on 2% , where did u pluck the 2% from ar ?

Coz I tot it's either tiered or 3.5%

 

[bargin]

https://www.cimb.com.sg/en/personal.../revision-of-interest-profit-rates-oct24.html

Juz received notification that their base interest rate will change on 01 Oct 2024

 

[Cookie Muncher]

Like that the promo interest how?

 

[Goodintentions]

Like that the promo interest how?

You are asking because you start from Aug or Sept right? Since prior months not affected.
Have to call bank and ask.