CIMB FastSaver

[wutawa]

For promo rate (with promo period), no 1 mth notice. For regular rate (subj to changes anytime), 1 mth notice.

Doesnt mean that esaver and issavy have been renewing their promotions for years that the bonus int has to become regular int. They can even stop renewing their promotions without a notice.

U may write in to feedback to banks if u feel otherwise.

 

[F1ngolf2012]

For promo rate (with promo period), no 1 mth notice. For regular rate (subj to changes anytime), 1 mth notice.

Doesnt mean that esaver and issavy have been renewing their promotions for years that the bonus int has to become regular int. They can even stop renewing their promotions without a notice.

U may write in to feedback to banks if u feel otherwise.

I can see your logic and I've no interest to feedback to the banks.
So are eSaver and iSavvy high interest earning accounts?

 

[wutawa]

So are eSaver and iSavvy high interest earning accounts?

There isnt any clear definition for high interest earning accts. U may think 0.7% is high int but i tink it is shitty int. No right or wrong bah.

 

[F1ngolf2012]

There isnt any clear definition for high interest earning accts. U may think 0.7% is high int but i tink it is shitty int. No right or wrong bah.

So Fastsaver is high interest earning account and iSavvy may not be considered high interest earning account? What kind of definition is this?? I'm sure you know what are the current interest rates of Fastsaver and iSavvy.

 

[badsector]

from 15th July

1st 100k, the EIR = 0.825% (from 1.325%)

correct?

 

[wutawa]

So Fastsaver is high interest earning account and iSavvy may not be considered high interest earning account? What kind of definition is this?? I'm sure you know what are the current interest rates of Fastsaver and iSavvy.

I only consider >1.8% int as high int so i do not consider fastsaver as high int. As i mentioned, u do not have to follow how i think. U can follow as per what the banks have put on their webpage "high" or "attractive" int rates.

I rest my case.

 

[F1ngolf2012]

I only consider >1.8% int as high int so i do not consider fastsaver as high int. As i mentioned, u do not have to follow how i think. U can follow as per what the banks have put on their webpage "high" or "attractive" int rates.

I rest my case.

Let's not confused the issue here.
It is NOT about what you think (which I have no interest at all) or what I think which define high interest earning accounts.

The statement was made that All banks have been giving one month notice on changes to high interest earning account to CIMB giving 30 days advance notice to Fastsaver account. I disagree since eSaver and iSavvy which have been offering comparable interest rates to Fastsaver do not give any advance notice. Period.

 

[F1ngolf2012]

from 15th July

1st 100k, the EIR = 0.825% (from 1.325%)

correct?

Yes. You are correct.

 

[Mickey01]

Let's not confused the issue here.
It is NOT about what you think (which I have no interest at all) or what I think which define high interest earning accounts.

The statement was made that All banks have been giving one month notice on changes to high interest earning account to CIMB giving 30 days advance notice to Fastsaver account. I disagree since eSaver and iSavvy which have been offering comparable interest rates to Fastsaver do not give any advance notice. Period.

seriously, what is the issue here?
eSaver and iSAVvy are always on 2 months promotion bonus rates.Sometimes iSAVvy offer 4 months promotion esp during year end They announce the new bonus rates the 1st day of the new 2 month period. The key is the word "bonus rates promotion".
Other accounts (OCBC 360, Multiplier, UOB ONE, FastSaver, etc) do not offer short term promotion rates. Their rates are "long term" unless the bank decide to change the rates. And to be fair, these accounts usually provide one month notice. They can also choose to change the rates and take effect immediately.
Give notice complain. No notice also complain

 

[F1ngolf2012]

seriously, what is the issue here?
eSaver and iSAVvy are always on 2 months promotion bonus rates.Sometimes iSAVvy offer 4 months promotion esp during year end They announce the new bonus rates the 1st day of the new 2 month period. The key is the word "bonus rates promotion".
Other accounts (OCBC 360, Multiplier, UOB ONE, FastSaver, etc) do not offer short term promotion rates. Their rates are "long term" unless the bank decide to change the rates. And to be fair, these accounts usually provide one month notice. They can also choose to change the rates and take effect immediately.
Give notice complain. No notice also complain

Read this link if you are not clear on the issue https://forums.hardwarezone.com.sg/128000746-post1232.html

Who is complaining here?

 

[iduncheckmail]

seriously, what is the issue here?
eSaver and iSAVvy are always on 2 months promotion bonus rates.Sometimes iSAVvy offer 4 months promotion esp during year end They announce the new bonus rates the 1st day of the new 2 month period. The key is the word "bonus rates promotion".
Other accounts (OCBC 360, Multiplier, UOB ONE, FastSaver, etc) do not offer short term promotion rates. Their rates are "long term" unless the bank decide to change the rates. And to be fair, these accounts usually provide one month notice. They can also choose to change the rates and take effect immediately.
Give notice complain. No notice also complain

This.
eSaver and iSavvy is every promo period will change.
The others are more like current accounts, interests are on-going until change is announced (can be anytime).

 

[gq.ong88]

yes, but is up to 1.85% wef 1 July 2020, disappeared when I checked again yesterday after the FC called me. Should have screenshot it, you can see my post earlier this week, was confused by the calculation too..

https://forums.hardwarezone.com.sg/127782972-post1090.html

I saw it too, at 1.85. Think they chg their ir cos cimb also reduced. No incentive to remain.

 

[wutawa]

I saw it too, at 1.85. Think they chg their ir cos cimb also reduced. No incentive to remain.

1 jul will be interesting with the promos in new rates, if any.

 

[vsvs24]

1 jul will be interesting with the promos in new rates, if any.

Nowadays looking out for bank rate change is as nervous as watching stock market.

 

[Squaredot]

Nowadays looking out for bank rate change is as nervous as watching stock market.

More like looking at the downtrend of interest rates, while stock market still can see movements up and down.

 

[F1ngolf2012]

More like looking at the downtrend of interest rates, while stock market still can see movements up and down.

Yup! Interest is going in one direction for now and stay low for a while. This may help to support the stock prices.

 

[wutawa]

Yup! Interest is going in one direction for now and stay low for a while. This may help to support the stock prices.

A feel of how "fed rate" can boost the "economy"

 

[cassowary18]

More like looking at the downtrend of interest rates, while stock market still can see movements up and down.

If only we can "short" bank interest ratwa

 

[Alearner]

If we close the account on 15th July? do we still get the interest for the first 15days?

 

[testingabc]

If we close the account on 15th July? do we still get the interest for the first 15days?

Yes still get the interest for the first 15 days as long as more than $1000 but CIMB will only credit end of the month