CIMB FastSaver

[Extremme]

I did a compare on 3 comparable Saving accounts for 100k . usually they only have good deals for first 100k

CIMB Fast Saver
50k @ 1% = $500
25k @ 1.5% = $375
25k @ 1.8% = 450
Total interest is $1325 which is 1.325% for 100k


RHB (https://rhbgroup.com.sg/promotion/casa_retail)
1.4125% for 100k

HL iSavings
1.485% for 100k

RHB rates (https://rhbgroup.com.sg/personal/deposits/high-yield-savings-account) will go back to its prevailing rate after 30 June 2020 which is poor as compared to say HL iSavings (https://www.hlbank.com.sg/en/personal-banking/deposits/savings-account/isavings-account.html#)


Another tweak to enjoy this CIMB account is to open 2 Fastsavers. One is FastSaver and the other is FastSaver-I

 

[Sausage]

For fast saver is the reference month for interest the preceding month? Meaning do I always need to transfer fresh funds in to maintain the interest? Or can I just park $99k in there once and leave it?

Sent from Xiaomi REDMI 7 using GAGT

 

[wutawa]

For fast saver is the reference month for interest the preceding month? Meaning do I always need to transfer fresh funds in to maintain the interest? Or can I just park $99k in there once and leave it?

Sent from Xiaomi REDMI 7 using GAGT

No ref mth or fresh fund nonsense

 

[vsvs24]

RHB rates (https://rhbgroup.com.sg/personal/deposits/high-yield-savings-account) will go back to its prevailing rate after 30 June 2020 which is poor as compared to say HL iSavings (https://www.hlbank.com.sg/en/personal-banking/deposits/savings-account/isavings-account.html#)


Another tweak to enjoy this CIMB account is to open 2 Fastsavers. One is FastSaver and the other is FastSaver-I

Why need 2 Fastsaver ?

 

[wutawa]

Why need 2 Fastsaver ?

To get 1.325% int on $200k, without a promo deadline

 

[battledome64]

To get 1.325% int on $200k, without a promo deadline

How to open 2 acc? One single one joint?

 

[vsvs24]

To get 1.325% int on $200k, without a promo deadline

I see. Thanks !

 

[Extremme]

How to open 2 acc? One single one joint?

Open: CIMB FastSaver
Open: CIMB FastSaver-i

CIMB confirmed that these are separate so each individual get to open 2 FastSaver accounts in that way and enjoy 1.325% on each 100k

CIMB FastSaver-i is Singapore's first Shariah-compliant online savings account that not only gives you the convenience of opening your account online instantly, it also earns you a high profit rate of up to 1.80% p.a. with no fall below fees! CIMB FastSaver-i uses the Shariah concept of Murabahah (mark-up) to facilitate the deposit-taking activity from you to the bank.

There is no religious constraint if you want to open the CIMB FastSaver-i.

So 100k put in CIMB FastSaver and the other 100k into CIMB FastSaver-i.

 

[1scape]

Open: CIMB FastSaver
Open: CIMB FastSaver-i

CIMB confirmed that these are separate so each individual get to open 2 FastSaver accounts in that way and enjoy 1.325% on each 100k

CIMB FastSaver-i is Singapore's first Shariah-compliant online savings account that not only gives you the convenience of opening your account online instantly, it also earns you a high profit rate of up to 1.80% p.a. with no fall below fees! CIMB FastSaver-i uses the Shariah concept of Murabahah (mark-up) to facilitate the deposit-taking activity from you to the bank.

There is no religious constraint if you want to open the CIMB FastSaver-i.

So 100k put in CIMB FastSaver and the other 100k into CIMB FastSaver-i.

hey bro daily transfer limit max is just 50k right?

 

[EveMuffins]

hey bro daily transfer limit max is just 50k right?

Yes 50k only.

 

[Extremme]

hey bro daily transfer limit max is just 50k right?

you mean from CIMB fastsaver to other accounts?

 

[GreedyDinosaur]

thanks guys. i just applied with someone's code (via pm). Thanks! I have my code now too hehehe

 

[PC-User]

Open: CIMB FastSaver
Open: CIMB FastSaver-i

CIMB confirmed that these are separate so each individual get to open 2 FastSaver accounts in that way and enjoy 1.325% on each 100k

CIMB FastSaver-i is Singapore's first Shariah-compliant online savings account that not only gives you the convenience of opening your account online instantly, it also earns you a high profit rate of up to 1.80% p.a. with no fall below fees! CIMB FastSaver-i uses the Shariah concept of Murabahah (mark-up) to facilitate the deposit-taking activity from you to the bank.

There is no religious constraint if you want to open the CIMB FastSaver-i.

So 100k put in CIMB FastSaver and the other 100k into CIMB FastSaver-i.

I'm tempted but, seeing current economic trend, I'd be not too sure to put too many eggs into the same basket.

 

[vsvs24]

I'm tempted but, seeing current economic trend, I'd be not too sure to put too many eggs into the same basket.

Correct. Diversify.

 

[Extremme]

sorry but whats the issue? it does not have a fall below right? Its not a FD and you can take out anytime you want? Same as DBS or are you saying you are afraid CIMB will go bank run?

 

[GreedyDinosaur]

i just open this account. using referral need keep $5K for 6 months inorder to get the $10.....

so if i have 5K for 1%, every month i will get like:

31/365 * 1% * 5000 = $4.245 per month for months that has 31 days
30/365 * 1% * 5000 = $4.10 per month for months that has 30 days

6 months about $26~~

 

[Extremme]

i just open this account. using referral need keep $5K for 6 months inorder to get the $10.....

so if i have 5K for 1%, every month i will get like:

31/365 * 1% * 5000 = $4.245 per month for months that has 31 days
30/365 * 1% * 5000 = $4.10 per month for months that has 30 days

6 months about $26~~

whats this referral code abt?

 

[leoch037]

i just open this account. using referral need keep $5K for 6 months inorder to get the $10.....

so if i have 5K for 1%, every month i will get like:

31/365 * 1% * 5000 = $4.245 per month for months that has 31 days
30/365 * 1% * 5000 = $4.10 per month for months that has 30 days

6 months about $26~~

well... 1% of 5k is $50
so 6 mths arga $25 lor, mental sum figures only

 

[testingabc]

whats this referral code abt?

If you don't have CIMB Fastsaver, I can refer you, you get $10 i get $10, but there are criteria to be met.

 

[Extremme]

If you don't have CIMB Fastsaver, I can refer you, you get $10 i get $10, but there are criteria to be met.

ah abit too late..unless I want to open another Fastsaver-I which I am contemplating

$10 across the board or it varies depending on how much amt was used to open the account?