CIMB FastSaver

[saintgtril]

"Enjoy a high interest of up to 1.50%1 p.a. - with a minimum deposit of S$1,000 needed to be maintained for interest to be accrued daily and credited monthly."

Extract from https://www.cimb.com.sg/en/personal/banking-with-us/accounts/savings-accounts/cimb-fastsaver-account.html

Hi peppermint7 and all, is the following correct? Thanks!

To optimise the interest, one has to put 100K in CIMB FastSaver (nothing more, nothing less) for interest 0.8750%?

https://forums.hardwarezone.com.sg/128858149-post83.html

 

[cassowary18]

I just realized that there is no longer an option for me to apply for another FastSaver account after I opened my sole FastSaver account.

The only available option now is FastSaver-i. Is there any difference between FastSaver and FastSaver-i?

Fastsaver-I is Shariah compliant Fastsaver. No difference to regular Fastsaver. The "interest" is credited in the form of "profit" because Shariah prohibits interest but encourages profit-loss sharing.

I have the Fastsaver-I because CIMB auto opened one for me when I opened a Why Wait-I fixed deposit. The interest ("profit") for that was credited upfront which, coupled with a high interest rate, made it a good choice to put my money in. Kept the Fastsaver-I account since then and never opened a regular Fastsaver account.

 

[shengliang1981]

Fastsaver-I is Shariah compliant Fastsaver. No difference to regular Fastsaver. The "interest" is credited in the form of "profit" because Shariah prohibits interest but encourages profit-loss sharing.

I have the Fastsaver-I because CIMB auto opened one for me when I opened a Why Wait-I fixed deposit. The interest ("profit") for that was credited upfront which, coupled with a high interest rate, made it a good choice to put my money in. Kept the Fastsaver-I account since then and never opened a regular Fastsaver account.

This is an eye opener. Thanks for sharing!

 

[peppermint7]

Hi peppermint7 and all, is the following correct? Thanks!

To optimise the interest, one has to put 100K in CIMB FastSaver (nothing more, nothing less) for interest 0.8750%?

https://forums.hardwarezone.com.sg/128858149-post83.html

Exactly 100k u will get 0.825%

Anything above will only give 0.4%

 

[peppermint7]

This is an eye opener. Thanks for sharing!

U can have 2 single acc.
1 Fastsaver
1 Fastsaver-i

But take note of SDIC limit of 75k / name.

(If that bothers u. That is..)

 

[shengliang1981]

Hi peppermint7 and all, is the following correct? Thanks!

To optimise the interest, one has to put 100K in CIMB FastSaver (nothing more, nothing less) for interest 0.8750%?

https://forums.hardwarezone.com.sg/128858149-post83.html

Your understanding is correct

 

[saintgtril]

Exactly 100k u will get 0.825%

Anything above will only give 0.4%

Thanks peppermint7!

 

[peppermint7]

Your understanding is correct

Except for the interest rate.
It should b 0.825% not 875

 

[peppermint7]

Thanks peppermint7!

Welcome

 

[saintgtril]

U can have 2 single acc.
1 Fastsaver
1 Fastsaver-i

But take note of CDIC limit of 75k / name.

(If that bothers u. That is..)

Hi peppermint7 and all, i think Starsaver has a comparable interest. Correct me if i am wrong.

https://www.cimb.com.sg/en/personal.../current-accounts/cimb-starsaver-account.html

 

[peppermint7]

Hi peppermint7 and all, i think Starsaver has a comparable interest. Correct me if i am wrong.

https://www.cimb.com.sg/en/personal.../current-accounts/cimb-starsaver-account.html

Starsaver

First S$200,000 0.40% p.a.
Next S$800,000 0.70% p.a.
Above S$1,000,000 0.40% p.a.

How is it comparable?

Only good thing about starsaver is it comes with free chequebook

 

[vsvs24]

Just opened a saving account online, can’t find any referrer section to put my referrer name/ic, but other than that, a simple and easy process. Pump $50 to try, reflected immediately.

Anyone know the max daily withdrawal limit? $100k?

How do you see the $50 ? Can access internet banking immediately ?

 

[newjungle]

I have CIMB credit cards and access to IB.

How do you see the $50 ? Can access internet banking immediately ?

 

[vsvs24]

I have CIMB credit cards and access to IB.

Ok. Thanks.

 

[saintgtril]

Thanks both. Noted on 0.825% Then it sounds like the next best one after CIMB FastSaver is SCB eSaver. Up to 0.55%.

Your understanding is correct

Except for the interest rate.
It should b 0.825% not 875

 

[newjungle]

Benefit of esaver is fast out daily limit is $200k. Based on what others has kindly replied me, fastsaver is $50k.

 

[Squaredot]

Benefit of esaver is fast out daily limit is $200k. Based on what others has kindly replied me, fastsaver is $50k.

yes, CIMB FAST daily limit is 50k per name.

Having a joint account with 2 names, can FAST out all $100k in one day

 

[newjungle]

That’s nice! And SDIC is split evenly, so u r protected up to $150k (if u have no other account)

yes, CIMB FAST daily limit is 50k per name.

Having a joint account with 2 names, can FAST out all $100k in one day

 

[cassowary18]

Actually there's one account which is better than CIMB Fastsaver, BOC Supersaver. If you're willing to bear with BOC's archaic ibanking interface.

 

[twosix]

Actually there's one account which is better than CIMB Fastsaver, BOC Supersaver. If you're willing to bear with BOC's archaic ibanking interface.

0.875%, same as RHB, except RHB up to 100k, BOC up to 80k only.