CIMB FastSaver

[hyperbole]

Thanks. I think I have gotten some conflicting information on it: from what you describe, it seems like all you need is to dump in and simply not touch the money (I'd use it for cash that I am not touching). On the other hand, I recall reading some description of requiring money to be transferred in to be eligible for additional interest (so some schedule $1 transfers on a monthly basis). Has that changed or did I get it wrong?

There's no transfer requirement. As long as your balance is at least 1k you will get 1%

 

[Buzy_bee]

There's no transfer requirement. As long as your balance is at least 1k you will get 1%

He is referring to citibank Maxigain account

 

[Buzy_bee]

Thanks. I think I have gotten some conflicting information on it: from what you describe, it seems like all you need is to dump in and simply not touch the money (I'd use it for cash that I am not touching). On the other hand, I recall reading some description of requiring money to be transferred in to be eligible for additional interest (so some schedule $1 transfers on a monthly basis). Has that changed or did I get it wrong?

Maybe we should move our discussion to http://forums.hardwarezone.com.sg/money-mind-210/citibank-maxigain-savings-account-5311537.html for clarity.

If you don't withdraw the base or interest, you would have incremental balance (compared to last month), so to transfer $1 monthly is redundant (if your purpose is to be eligible for additional interest)

 

[heng_ah]

Suggest to discuss Citi Maxigain on its thread instead, to avoid confusion.

http://forums.hardwarezone.com.sg/money-mind-210/citibank-maxigain-savings-account-5311537.html

 

[htc_user]

When I first open my CIMB StarSaver Account when it first started, I remembered I need to maintain at least $500 incremental balance at the end of the month compared to the end of the previous month in order to receive the interest of 0.9%. I do not see it in the terms and conditions now, has it been removed and when was it ?

Of course now I know there is Fastsaver giving 1% on first $50000. Thanks.

 

[Maeda_Toshiie]

When I first open my CIMB StarSaver Account when it first started, I remembered I need to maintain at least $500 incremental balance at the end of the month compared to the end of the previous month in order to receive the interest of 0.9%. I do not see it in the terms and conditions now, has it been removed and when was it ?

Of course now I know there is Fastsaver giving 1% on first $50000. Thanks.

I don't know when the requirements changed. Right now, there is no need for incremental balance for 1%. All you need to do is to only maintain >=$1000 in order to receive 1%. Interest is calculated on a daily basis. The first 50k gets 1% with the remainder 0.6%.

Starsaver has also be modified to be similar but with a flat 0.8% on the entire balance.

 

[crystalnox]

When I first open my CIMB StarSaver Account when it first started, I remembered I need to maintain at least $500 incremental balance at the end of the month compared to the end of the previous month in order to receive the interest of 0.9%. I do not see it in the terms and conditions now, has it been removed and when was it ?

Of course now I know there is Fastsaver giving 1% on first $50000. Thanks.

I've had my StarSaver opened for almost 4 years already and I don't ever remember such a requirement.

 

[htc_user]

I've had my StarSaver opened for almost 4 years already and I don't ever remember such a requirement.

This 2016 brochure seems to still indicate the requirement

https://www.cimbbank.com.sg/content...nts/brochures/brochure-starsaver-20160415.pdf

 

[htc_user]

I don't know when the requirements changed. Right now, there is no need for incremental balance for 1%. All you need to do is to only maintain >=$1000 in order to receive 1%. Interest is calculated on a daily basis. The first 50k gets 1% with the remainder 0.6%.

Starsaver has also be modified to be similar but with a flat 0.8% on the entire balance.

I think 1% is Fastsaver while the starsaver is 0.8 or 0.9

https://www.cimbbank.com.sg/en/pers...-charges.html?c=rates&n=current-account-rates

 

[crystalnox]

This 2016 brochure seems to still indicate the requirement

https://www.cimbbank.com.sg/content...nts/brochures/brochure-starsaver-20160415.pdf

Opps seems like you're right. I must have deposited a lump sum in the past so they divided it out over the months to get 0.8% consistently. That's probably why I forgot about the requirement.

 

[maumu]

i don't think there is such a requirement anymore. I opened last year but was not told about the $500 increment per month.

anyway I don't really get why there's starsaver (0.8% on unlimited sum) when there's already fastsaver (1% capped at $50k, then 0.6%). both are really similar.

 

[Maeda_Toshiie]

I think 1% is Fastsaver while the starsaver is 0.8 or 0.9

https://www.cimbbank.com.sg/en/pers...-charges.html?c=rates&n=current-account-rates

Yeah, my first paragraph is referring to FastSaver not StarSaver.

 

[Whisper]

Can I open and activate account first but make initial deposit say one week later?

 

[ixoral]

I guess the free availability of Cheque books in Starsaver is at the cost of a 0.2% bank interest as compared to Fastsaver

anyway I don't really get why there's starsaver (0.8% on unlimited sum) when there's already fastsaver (1% capped at $50k, then 0.6%). both are really similar.

 

[Whisper]

I guess the free availability of Cheque books in Starsaver is at the cost of a 0.2% bank interest as compared to Fastsaver

Is the cheque book totally free? As in no monthly fee or admin fee?

 

[badsector]

Is the cheque book totally free? As in no monthly fee or admin fee?

yes. unlimited free cheque book

 

[jayz89]

anyone put in like < $5000 in this account only?

 

[slowchemical]

Can I check 1 person only can open 1 fastsaver account?

 

[shpesft]

Can I check 1 person only can open 1 fastsaver account?

Yes. You can only have one CIMB product to your own name, but can have one each of a FastSaver and a FastSaver-i account. Can also get joint FastSaver accounts too.

 

[a4973]

Yes. You can only have one CIMB product to your own name, but can have one each of a FastSaver and a FastSaver-i account. Can also get joint FastSaver accounts too.

Do you mean that same person can have Fastsaver & Fastsaver-i & both can enjoy 1% up to 50k in each of the above-mentioned accounts?