CIMB FastSaver

[demoforce1]

yes, if you are "new customer" or existing customer with $19,999 or less balance on 31 jul.

the interest will be spilt in 2 payment 1 on last day of the month (31 aug) and BI on 20th sep

yes, I am an existing customer with $0.xx on 31 Jul
Thanks again!

 

[royalmix]

So tell me which bank has changed their tnc half way through their promos?

All banks phrased it this way to protect them in case of errors. In fact most promos by any commercial entities will have such disclaimer.

No banks will change halfway the tnc just to piss their customers off.

Precisely! The risk is not change in tnc but in this clause:

6. Each customer’s eligibility to participate in this Promotion is subject to the Bank’s sole and absolute discretion.

Some people shared here how they lost their BI!

There is no reason for fear if you are a good citizen. Optimise your earning potential! My earning potential is elsewhere now.

 

[royalmix]

yes, I am an existing customer with $0.xx on 31 Jul
Thanks again!

Make sure you register, interest starts from 1 Aug, I would prefer to fund it asap, at least 1k, unless you are earning more elsewhere.

If Customers meet the qualifying criteria stipulated in these terms, Customers will earn a flat interest/profit rate of 3.50% p.a. (inclusive of prevailing rate) on their incremental fresh funds balance in the Qualifying Account(s) for the first 6 calendar months starting from 1 August 2023 to 31 January 2024 (“Bonus Interest/Profit Earning Period”).

Disclaimer: I am potential new customer

 

[ThreeSteps]

thanks, so that means if on the following dates:
1 - 29 Aug = $0 will earn $0 interest
30 Aug deposit $10,000 --> interest = 10000*3.5%/365 = $0.95
31 Aug deposit another $10,000 --> interest = 20000*3.5%/365 = $1.91
In total, I will receive interest of $2.86, is this correct?

For this 3.5% promo, there are some differences in T&Cs for New customer and Existing customer. Refer to the bank website: https://www.cimb.com.sg/en/personal...sa_b2:casapromo_b3:gws_b4:home_b5:hero_b6:def
T&Cs for New Customers: https://www.cimb.com.sg/content/dam...cs-governing-casa-bonus-interest-promo-23.pdf
T&Cs for Existing Customers: https://www.cimb.com.sg/content/dam...overning-casa-bonus-interest-promo-23-etb.pdf

If you are confirmed to be Existing customer for this 3.5% promo, can refer to my post#2568 which highlight some key points for Existing customer : https://forums.hardwarezone.com.sg/threads/cimb-fastsaver.5176026/page-129#post-148772002
Important - refer to point#10 of T&Cs for Existing Customers: ‘Incremental Fresh Funds Balance refers to comparing end-day-balance on that day against that of 31 July 2023 ……’ (note: your balance on 31July should ideally be $0 or very low $balance because this value is used for comparison in the calculation of Bonus interest)

The actual daily interest calculation is not simple, refer to point#7 & point#8 of T&Cs for Existing Customers - there is Prevailing interest (credited at end of the month) & Bonus Interest (credited on 20th of the following mth). If you have $0 balance on 31July & also meet the minimum daily balance criteria, then your daily (Prevailing interest + Bonus interest) should be 3.5% , otherwise......

 

[BaDBoI]

yes, I am an existing customer with $0.xx on 31 Jul
Thanks again!

Remember to register via cimb WA chatbot

 

[~sabaisabai~]

Make sure you register, interest starts from 1 Aug, I would prefer to fund it asap, at least 1k, unless you are earning more elsewhere.
If Customers meet the qualifying criteria stipulated in these terms, Customers will earn a flat interest/profit rate of 3.50% p.a. (inclusive of prevailing rate) on their incremental fresh funds balance in the Qualifying Account(s) for the first 6 calendar months
starting from 1 August 2023 to 31 January 2024
(“Bonus Interest/Profit Earning Period”).
Disclaimer: I am potential new customer

gxs still giving 3.48% on compounded till 16 aug

 

[royalmix]

gxs still giving 3.48% on compounded till 16 aug

I already quit on the day they announced but I am earning more than 4%. CIMB pays you more? Difference not material to me as compared to potential risk/ problems you might encounter on 16 aug, but is up to you!

If new customer like me, I am waiting till Sept to stretch my promo to Feb 2024.

 

[sglandscape]

gxs still giving 3.48% on compounded till 16 aug

GXS EIR 3.54% vs CIMB of 3.5%, you're risking for 0.04% leaving it to the last minute. But it's your call though.

If you forget to move it, the difference would be a lot larger than 0.04%

 

[BinaryLord]

Remember to register via cimb WA chatbot

what is it for?

 

[twosix]

what is it for?

To enroll into the promo. For existing customers only.

 

[bluecrab]

any difference between Fastsaver and StarSaver with the current flat 3.5% promo? I am new customer...

 

[wutawa]

I already quit on the day they announced but I am earning more than 4%. CIMB pays you more? Difference not material to me as compared to potential risk/ problems you might encounter on 16 aug, but is up to you!

If new customer like me, I am waiting till Sept to stretch my promo to Feb 2024.

hmm, hopefully they will extend the (new cust) promo to feb or later. hehe

 

[CaptainWu]

For existing customer, I have asked the CSO and remember to put in fresh fund in AUG so your registation is activated for this new promotion. Unfortunately the CSO not able to verify I am registrated or not in the system which makes no verification possible until 20 Sep when the interest came in. CSO is not knowlegable with this promtion and echo to some of the previous comments in this forum, when I pointed to the promotion details then they say yes yes.... difficult to tell if true or not...

 

[DevilPlate]

For existing customer, I have asked the CSO and remember to put in fresh fund in AUG so your registation is activated for this new promotion. Unfortunately the CSO not able to verify I am registrated or not in the system which makes no verification possible until 20 Sep when the interest came in. CSO is not knowlegable with this promtion and echo to some of the previous comments in this forum, when I pointed to the promotion details then they say yes yes.... difficult to tell if true or not...

I have said earlier the registration via whatsapp is very wonky.
So what i did was tx js 10k into my Fastsaver this month for testing purposes.

 

[CaptainWu]

I have said earlier the registration via whatsapp is very wonky.
So what i did was tx js 10k into my Fastsaver this month for testing purposes.

I do exactly the same! Transferred 10k as testing case and to verify Sep 20.

 

[ThreeSteps]

For existing customer, I have asked the CSO and remember to put in fresh fund in AUG so your registation is activated for this new promotion. Unfortunately the CSO not able to verify I am registrated or not in the system which makes no verification possible until 20 Sep when the interest came in. CSO is not knowlegable with this promtion and echo to some of the previous comments in this forum, when I pointed to the promotion details then they say yes yes.... difficult to tell if true or not...

T&Cs for Existing Customers: https://www.cimb.com.sg/content/dam...overning-casa-bonus-interest-promo-23-etb.pdf

Existing Customer registration
Point#4(d ) of T&Cs for Existing Customers – registration instructions
If you do the Whatsapp with CIMB, do not delete the Whatsapp evidence of your registration.
Within the whatsapp conversation between CIMB and yourself, there is the following portion:
You : Sign me up now!
CIMB : Yeay, you’re in! Remember to deposit incremental fresh funds to your account from 1 Aug’23 and enjoy flat interest/profit rate of 3.50%...... Thank you for your participation. *T&C apply

Point#7 of T&Cs for Existing Customers – Prevailing interest rate & Bonus Interest (note: prevailing interest will be credited at month-end and Bonus interest credited on 20th of the following month)

 

[sohguanh]

Actually CIMB 20 of following month to credit bonus interest I also a bit not happy becuz for Maybank iSavvy the bonus interest is usually credit around 5-10th of following month. But becuz I want to be their customer for this promo I need to lower my expectation. I hope future CIMB casa promo can reduce the time to give bonus payout preferably follow Maybank haha

 

[CaptainWu]

Actually CIMB 20 of following month to credit bonus interest I also a bit not happy becuz for Maybank iSavvy the bonus interest is usually credit around 5-10th of following month. But becuz I want to be their customer for this promo I need to lower my expectation. I hope future CIMB casa promo can reduce the time to give bonus payout preferably follow Maybank haha

SCB also doing the same to credit 20th of the following month so it really depends on bank's decision.

 

[sohguanh]

SCB also doing the same to credit 20th of the following month so it really depends on bank's decision.

I think this is for special invite correct? If it is the normal public which I am previously don't think I need wait that long.

 

[twosix]

I think this is for special invite correct? If it is the normal public which I am previously don't think I need wait that long.

The bank makes the call. HSBC even pay BI many months later.

Not happy just bank elsewhere. No need to feel frustrated for some money. Health is more important.