CIMB FastSaver

[GrandJedi]

No, unless they change the wording for SEP promo.


Aug and SEP.
You will withdraw your monies on 1st Oct.
Assuming 1st Oct has a promo, the comparison is 30 Sep which you will have most of your monies already in it. Is there a point to participate in OCT promo? Unless you have another batch of monies waiting to be deployed in which only that new batch will get the bonus interest


No.
If you already have 20K to deploy, just deploy it on the first day.
Bonus interest is on the incremental, so if you deploy 10k only in the first month, your first month loses out on the BI on that 10k you chose to deploy in the 2nd month.

Promo is only for 2 months. For yours, it's AUG and SEP, wait one month to refresh where you reset to ZERO or 1K depending on your appetite, then NOV, DEC.
There is no such thing as maximize across the months. The only maximize is max out the available on the FIRST day of the promo, then reset it.
Same concept for all the merry go rounds like HSBC, Maybank and SC

Come, shout out loud with me.
BONUS INTEREST IS ON THE INCREMENTAL AMOUNT

Thank you for the detailed explanation. That makes sense now.

Since CIMB offers a much better return for the 2-month merry-go-round for large amounts (up to 0.5%) compared with HSBC, Maybank and SC, I kept thinking there had to be some catch or hidden condition. Glad to know it's actually as straightforward as deploying the full amount on the first day and resetting after the promo.

 

[GrandJedi]

Let me offer some tips, (not vested):


You are right, you are not eligible for Sept promo for this account, see clause 4d.





See answer above, unless you know kungfu!

Give you a tip: if you have been playing merry go round within/between SCB esaver accounts or HSBC EGA accounts before, you should know what to do with playing merry go round within/between CIMB accounts.

Thanks for the tip!

After the initial fresh funds transfer to qualify an account for the 2-month promo, have you tried transferring funds directly between CIMB accounts and still earn the bonus interest?

Or do the funds need to go from CIMB Account A → DBS → CIMB Account B to be treated as fresh funds again?

 

[royalmix]

Thanks for the tip!

After the initial fresh funds transfer to qualify an account for the 2-month promo, have you tried transferring funds directly between CIMB accounts and still earn the bonus interest?

Or do the funds need to go from CIMB Account A → DBS → CIMB Account B to be treated as fresh funds again?

Not vested.

Always play safe, unless you or someone have tested. Good luck.

 

[GrandJedi]

On 2 Jul I went ocbc to withdraw $$$$ from my joint dividend + account by cashier order leaving $1k behind. At the same time I open another dividend + account in my own name by depositing $50,000. I was prepared to pay for the Cashier Order but the bank waived the charge. Same day, took the CO to CIMB to open CIMB starsaver preferred to earn the promo of up to 2.38% for Jul/Aug and interest commenced on 3 Jul after clearance of CO.

Does OCBC allow you to have two Dividend+ accounts under the same name?

 

[tiertime]

Does anyone know how to setup that recurring giro of 1k? I not intending to credit salary

Depends on which bank u r trying to transfer from - call that bank to ask how to set up Standing Instruction to another bank

 

[Honda_typeR]

Thanks for the tip!

After the initial fresh funds transfer to qualify an account for the 2-month promo, have you tried transferring funds directly between CIMB accounts and still earn the bonus interest?

Or do the funds need to go from CIMB Account A → DBS → CIMB Account B to be treated as fresh funds again?

I was thinking the same thing between me and my wife single account lol.