CIMB FastSaver

[TheDarkKnight]

75k got 1.53% pa

No need do anything to qualify.. it's great!

 

[vegavega25]

75k got 1.53% pa

No need do anything to qualify.. it's great!

Should maintain exactly 75K, September 1 onwards.

 

[silverbomb]

Should maintain exactly 75K, September 1 onwards.

if spend $300 on Visa Signature per statement month, EIR will be 1.63%

 

[silverbomb]

does CIMB runs account opening promotions? i currently only hold their credit card.

 

[sohguanh]

75k got 1.53% pa

No need do anything to qualify.. it's great!

Yes no need to say fresh funds, spend on credit card,invest etc kind of stuff to get the rate. But CIMB do have such scheme just that for fastsaver no need. But I always wonder why that magic number 75K? This special magic number has been with fastsaver for quite some time.

 

[vsvs24]

Yes no need to say fresh funds, spend on credit card,invest etc kind of stuff to get the rate. But CIMB do have such scheme just that for fastsaver no need. But I always wonder why that magic number 75K? This special magic number has been with fastsaver for quite some time.

Maybe because SDIC 75k.

Think some people quite worried because small presence in Singapore. 1 branch only.

 

[sohguanh]

Maybe because SDIC 75k.

Think some people quite worried because small presence in Singapore. 1 branch only.

Spore unlike other countries for foreign banks to setup shop has to go through quite stringent criteria I believe. If one worry it will close shop move out then by all means can give business to our local 3 banks at their "asking rate".

My thinking has been precisely only got 1 branch 1 ATM this help to cut down their operating cost in Spore and in return they can offer competitive rates for us? Some reader say branch and ATM cost is negligible to a bank so I am not sure now. If ATM acquire and maintenance cost cheap why CIMB don't install more all over Spore then leh?

 

[vegavega25]

if spend $300 on Visa Signature per statement month, EIR will be 1.63%

Have the "Upsized" promotion details been updated already? I only see the August 1 onwards table, not September 1

 

[vegavega25]

Also, before we pop the champagne, it is good to be reminded that the bank is sometimes bafflingly slow in crediting the interest to the account. Most recent example is the June 2022 bonus interest.

If they credit the interest - as they should - on the last day of the month, albeit showing up only the next day, then it is fine. But if they follow this utterly moronic business of crediting it on the 15th/18th of the following month, it is going to be very very irritating.

 

[silverbomb]

Have the "Upsized" promotion details been updated already? I only see the August 1 onwards table, not September 1

upsized 0.7% on the first 10k is an ongoing promo till mid 2023 on top of the prevailing rates regardless Aug or Sep as long as promo campaign is still on. 1.2% in Aug, 1.8% from Sep onwards first 10k

 

[1l92041H]

Based on TNC for fastsaver.

If my account has zero from 1-15th of the month. And then $75k for the rest of the mth. I am still accorded bonus interest for the 2nd half of the mth at $75k/day correct ?

 

[sohguanh]

Based on TNC for fastsaver.

If my account has zero from 1-15th of the month. And then $75k for the rest of the mth. I am still accorded bonus interest for the 2nd half of the mth at $75k/day correct ?

I think yes. If you scared can call up their helpdesk to confirm. CIMB fastsaver T&C easier to understand than SC eSaver fresh funds etc promotion. It is not bonus interest it is just interest I think.

 

[DenOOO]

Based on TNC for fastsaver.

If my account has zero from 1-15th of the month. And then $75k for the rest of the mth. I am still accorded bonus interest for the 2nd half of the mth at $75k/day correct ?

Interest accrued daily and credited monthly. Daily interest will be paid on the entire daily balance, provided that the balance is at least S$1,000 in your CIMB FastSaver Account on any given day.

So yes, even 1 day only also give you interest.

 

[sohguanh]

Just to add on for CIMB,Maybank they have a "safety" feature? E.g on 01 Aug 2022 it then reflect the interest that is credited on 31 July 2022. So for ppl when they see the interest come in they can safely transfer out if needed.

However for SC and another reader share also DBS,POSB, if last day of the month fall on Sunday or holiday they will credit earlier. But then this may trick ppl when they see interest come in they immediately transfer. Then later the bank claw back that 1 day of interest. I kena with SC just recently which I share in the SC eSaver thread.

Rule of thumb when you see interest credited aka appear don't be so quick to transfer out. Check the date you transfer out. To be safe always the first day of the new month.

 

[myhyip4me]

Can we open both FastSaver and FastSaver-i account?

 

[silverbomb]

Can we open both FastSaver and FastSaver-i account?

i believe there are such instances in the past here so yes.

 

[hmyoth]

Can we open both FastSaver and FastSaver-i account?

Yes. I have both.

 

[myhyip4me]

Yes. I have both.

i believe there are such instances in the past here so yes.

Thanks... We can have 150k for 1.53% next month....

 

[Huat80]

Is everyone qualified for fastsaver-i?

 

[Mickey01]

Also, before we pop the champagne, it is good to be reminded that the bank is sometimes bafflingly slow in crediting the interest to the account. Most recent example is the June 2022 bonus interest.

If they credit the interest - as they should - on the last day of the month, albeit showing up only the next day, then it is fine. But if they follow this utterly moronic business of crediting it on the 15th/18th of the following month, it is going to be very very irritating.

Do note that those interest credit by X day of the following month (your reference to Jun 2022 delay) are usually the Bonus Interest promotions.

The 1st Sep 2022 interest revision are basic rates. Not bonus interest promotion and it should be credited by month end (or the latest the following business day if last day of month is Sunday or PH).