CIMB FastSaver

[wutawa]

But isavvy has a very high chance to drop its int for the next promo
2.1 > 1.75 > 1.3 > ?

 

[F1ngolf2012]

Starsaver Promo

Our CIMB StarSaver Account Has Undergone A Little Revamp!

Not only will you continue earning the base rate of 0.8% p.a. on your entire balance, you're now also given the opportunity to take your savings to up to 1.0%* p.a. by topping up min of $500 monthly!

Anyone know how is the $500 min monthy increment balance calculated? e.g. just comparing the month end closing of current and previous month or average daily balance for the current and previous month?

 

[testingabc]

am i right to say the difference is just $2 between maybank isavvy and fastsaver for 100k deposit? and that if u don't have at least 95k, you will be better off with isavvy account? (assuming you are capping the fastsaver account of max 100k)

Maybank is count ADB - 100K($100500-$500) 1.325%
CIMB is 100K 1.3%

You are right that iSavvy is the better choice if you have less than 95K.

 

[testingabc]

But isavvy has a very high chance to drop its int for the next promo
2.1 > 1.75 > 1.3 > ?

Normally iSavvy is slightly more than Esaver a bit. My guess is maybe around 0.75%?

 

[F1ngolf2012]

CIMB eApplication is not available now.
This service is unavailable for system maintenance between 11:00 PM to 01:00 AM daily. Please try again later.

 

[ChinTuaKi]

go big or go home

while asking the question, I have opened 2 accounts, the second being the -i one. and trf $100k into each.

I guess I went BIG?

 

[rkesin]

I was trying to open FastSaver-i account online since I'ev already the Fastsaver account. Below is what I saw on the fastSaver-i account:

Up to 1.0 % Profit rate p.a.
Shariah-compliant
Minimum Deposit of SGD 1,000

Anyone know what does it mean up to 1.0% profit rate p.a.?. Does it mean that the 1.0% rate is not guaranteed?

“Islamic Financing avoids interest-based transactions (Riba), and instead introduces the concept of buying something on the borrower’s behalf, and selling it back to the borrower at profit. In place of interest, a profit rate is defined in the contract.”
From: https://www.comparehero.my/personal-loan/articles/difference-between-profit-rate-and-interest-rate

The practical effect on your account value is the same

 

[Extremme]

while asking the question, I have opened 2 accounts, the second being the -i one. and trf $100k into each.

I guess I went BIG?

elites

 

[P R N D]

U so rich

I am a chao peasant making end meet.

Sent from Mercedes-Benz E250 using GAGT

 

[vsvs24]

https://www.businesstimes.com.sg/ba...s-to-challenge-bank-on-mortgage-hike-decision

I shared an article earlier that CIMB tried to keep interest for deposits high.....

 

[vsvs24]

https://www.businesstimes.com.sg/ba...stomers-up-in-arms-over-cimbs-floor-rate-hike

CIMB Singapore has raised the ire of customers with its move to raise the floor of certain mortgages pegged to the one-month Singapore interbank offered rate (Sibor) - with that floor rate now higher than the prevailing market rate.

From May 18, customers on CIMB's floating-rate mortgages linked to the Sibor or Swap Offer Rate (Sor) must stomach being charged a minimum of 0.9 per cent, compared to the previous floor rate of 0.1 per cent, a notification letter seen by The Business Times showed.

In response to queries from BT, Victor Lee, CEO of CIMB Bank Singapore, said that the adjustment of floor rates was deemed necessary after its internal review of the funding structure of the bank. "Our loans are funded by the bank's deposits," he said in a statement. "CIMB Bank has continued to keep our current and savings deposits interest rates high in a declining interest rate market and, as such, some alignment to the funding structure was needed."

Found the earlier article.

 

[gazar1]

Found the earlier article.

Means there wil be changes soon right.

 

[wutawa]

Maybank is count ADB - 100K($100500-$500) 1.325%
CIMB is 100K 1.3%

You are right that iSavvy is the better choice if you have less than 95K.

I tink u mixed up the int rates

 

[Squaredot]

Got it!
My Starsaver account no. starts with 2000XXXXXX opened more than 10 years ago and it comes with cheque book.

High Five!
more than 10 year old Starsaver account should be 0.9%

 

[testingabc]

I tink u mixed up the int rates

Oh ya you are right my bad

 

[cassowary18]

https://www.businesstimes.com.sg/ba...s-to-challenge-bank-on-mortgage-hike-decision

I shared an article earlier that CIMB tried to keep interest for deposits high.....

Translation: we have to raise our mortgage interest rates because our depositors want high interest rates! Don't blame us!

Oh please. If you cut deposit interest rates, your depositors move their money to other banks. If you raise mortgage interest rates, your borrowers refinance their mortgages. It's a free world.

 

[vsvs24]

Translation: we have to raise our mortgage interest rates because our depositors want high interest rates! Don't blame us!

Oh please. If you cut deposit interest rates, your depositors move their money to other banks. If you raise mortgage interest rates, your borrowers refinance their mortgages. It's a free world.

Be appreciative.

 

[zack14]

https://www.businesstimes.com.sg/ba...s-to-challenge-bank-on-mortgage-hike-decision

I shared an article earlier that CIMB tried to keep interest for deposits high.....

sounds like cimb is going to reduce the interest liao

 

[P R N D]

sounds like cimb is going to reduce the interest liao

Not this month please.

Sent from Mercedes-Benz E250 using GAGT

 

[F1ngolf2012]

The eapplication info not updated. U can feedback to them.

Anw, already opened the FastSaver-i account online and transferred fund in.