CIMB FastSaver

[yeungho]

Btw, guys, for existing CIMB fastsavers account holders, you must register with your CIMB registered mobile number in order to get the 3.5%

 

[Agate8]

Ah yah.... just lamenting!

Am an existing customer, I took out $60K to put in eSaver on 1/8 and left 40K (need to use $40K early sep) inside FS. So in my case for this CASA promo, i can forget it liao right!

My 31/7 to high and dont have excess cash liao! So not $100k, no BI?

Did i interpret the ADB t&C correctly?

 

[yiron]

Ah yah.... just lamenting!

Am an existing customer, I took out $60K to put in eSaver on 1/8 and left 40K (need to use $40K early sep) inside FS. So in my case for this CASA promo, i can forget it liao right!

My 31/7 to high and dont have excess cash liao! So not $100k, no BI?

Did i interpret the ADB t&C correctly?

Your 31 Jul balance in CIMB Fastsaver is $100k? If so, not that ideal since only your incremental above $100k gets the full 3.5%.

 

[Agate8]

Your 31 Jul balance in CIMB Fastsaver is $100k? If so, not that ideal since only your incremental above $100k gets the full 3.5%.

Yup. So my guess is right! Hopefully Oct got new promo! Haiz....

Was planning to moved "all" to esaver but $3XK got stop by cimb.

 

[yeungho]

Your 31 Jul balance in CIMB Fastsaver is $100k? If so, not that ideal since only your incremental above $100k gets the full 3.5%.

Hi yiron, so NTB customer’s promo and existing customer’s promo are different?
For NTB, say I just place $75K in the newly opened bank account no movement at all for first 6 months, I will get flat 3.5% for these 6 months right?

Whereas for existing customers they play the incremental game?

 

[yiron]

Hi yiron, so NTB customer’s promo and existing customer’s promo are different?
For NTB, say I just place $75K in the newly opened bank account no movement at all for first 6 months, I will get flat 3.5% for these 6 months right?

Whereas for existing customers they play the incremental game?

Yup mechanism for NTB and ETB are different.

For NTB, say I just place $75K in the newly opened bank account no movement at all for first 6 months, I will get flat 3.5% for these 6 months right? --> yes, this works.

Whereas for existing customers they play the incremental game? --> Yes, incremental vs 31 Jul 2023 EOD balance.

 

[CaptainWu]

FYI I just called CSO and confirmed subsequent month fresh fund deposit say Sep, Oct...still enjoy the bonus interest comparing month end-day balance in July, also the CSO saying that the calculation is Daily basis so effectively this is kind of ADB rather than just month end-day of July to month end-day comparision of the subsequent months. That's my take, for those not sure please contact CSO to confirm yourself.

 

[twosix]

FYI I just called CSO and confirmed subsequent month fresh fund deposit say Sep, Oct...still enjoy the bonus interest comparing month end-day balance in July, also the CSO saying that the calculation is Daily basis so effectively this is kind of ADB rather than just month end-day of July to month end-day comparision of the subsequent months. That's my take, for those not sure please contact CSO to confirm yourself.

Yes interest calculate based on day end balance.

 

[royalmix]

FYI I just called CSO and confirmed subsequent month fresh fund deposit say Sep, Oct...still enjoy the bonus interest comparing month end-day balance in July, also the CSO saying that the calculation is Daily basis so effectively this is kind of ADB rather than just month end-day of July to month end-day comparision of the subsequent months. That's my take, for those not sure please contact CSO to confirm yourself.

This bank dun use ADB!

Read the tnc CLAUSE 10 (Existing Customer)
Incremental Fresh Funds Balance refers to comparing end-day-balance on that day against that of 31 July 2023 (“Comparison Month End-Day Balance”). For example: the daily end-of-day balance is compared against the Comparison Month End-Day Balance until the end of the Bonus Interest/Profit Earning Period.

CLAUSE 11

Bonus Interest/Profit (if any) will be accrued daily and credited into the Qualifying Account(s) on the 20th day of the following month. If the 20th day of that month falls on a weekend or public holiday, it will be credited on the next working day

CLAUSE 4c.

4. To qualify for this Promotion, a. a customer must hold a Qualifying Account within the Promotion Period; b. deposit incremental fresh funds into the Qualifying Account; c. maintain minimum deposit of S$1,000 for savings and S$5,000 for current account to qualify for prevailing interest/profit in order to qualify for bonus interest/profit and d. register for this Promotion within the Promotion Period through our official corporate website (www.cimb.com.sg) or CIMB Eva Chatbot.

 

[DevilPlate]

FYI I just called CSO and confirmed subsequent month fresh fund deposit say Sep, Oct...still enjoy the bonus interest comparing month end-day balance in July, also the CSO saying that the calculation is Daily basis so effectively this is kind of ADB rather than just month end-day of July to month end-day comparision of the subsequent months. That's my take, for those not sure please contact CSO to confirm yourself.

For sure calculated on daily basis else, peeps can deposit on 2nd last day of every mth and earn full month interest meh hehe.

 

[demoforce1]

For sure calculated on daily basis else, peeps can deposit on 2nd last day of every mth and earn full month interest meh hehe.

maybe the right word is "daily balance" compare to 31-Jul and "daily interest" if > $1K, so don't use "average"

 

[royalmix]

For NTB, say I just place $75K in the newly opened bank account no movement at all for first 6 months, I will get flat 3.5% for these 6 months right?

Are you NTB? If so, read my hack if you dun want a 6mth FD-like account!

 

[PC-User]

Yup. So my guess is right! Hopefully Oct got new promo! Haiz....

Was planning to moved "all" to esaver but $3XK got stop by cimb.

This is one of the situations where you'll miss out their suddenly announced new fresh fund game, thanks to the unique last day balance comparison of the reference month. If they use July ADB, still can utilize this account as impact is not significant if one was by chance using the account for very short temporary saving by end July.

 

[royalmix]

Ah yah.... just lamenting!

Am an existing customer, I took out $60K to put in eSaver on 1/8 and left 40K (need to use $40K early sep) inside FS. So in my case for this CASA promo, i can forget it liao right!

My 31/7 to high and dont have excess cash liao! So not $100k, no BI?

Did i interpret the ADB t&C correctly?

This bank give you so many qualifying accounts! (hint!)

 

[ashethen]

Btw, guys, for existing CIMB fastsavers account holders, you must register with your CIMB registered mobile number in order to get the 3.5%

Register thru Whatsapp right?

 

[bargin]

Register thru Whatsapp right?

just scan their QR code at their CIMB website and take you to their chatbot to register for the promotion through Whatsapp

 

[CaptainWu]

For sure calculated on daily basis else, peeps can deposit on 2nd last day of every mth and earn full month interest meh hehe.

That's exactly what I am asking to the CSO, at first he said no but asked me to hold the call, later came back say its calculated daily so not just month end deposit can enjoy

 

[Agate8]

This bank give you so many qualifying accounts! (hint!)

Already an existing Fast & Star Saver account holder.

But looking at your comment trigger a thought!

The 31/7 $100K funds was in Fastsaver, does that mean i can move it to Star saver (as of 31/7 funds is ~$1K ) and enjoy the CASA promo?

Any financial/legal expert who read through the T&C can comment?

 

[bargin]

Already an existing Fast & Star Saver account holder.

But looking at your comment trigger a thought!

The 31/7 $100K funds was in Fastsaver, does that mean i can move it to Star saver (as of 31/7 funds is ~$1K ) and enjoy the CASA promo?

Any financial/legal expert who read through the T&C can comment?

u need to transfer the funds out to other bank and back to Star saver account to enjoy CASA promo., please check out post# 2704 by Bro ThreeSteps.

 

[tinsel77]

Sometimes either speak too fast, or you listen correctly but brain process wrongly, or vice versa! It is possible based on all your writing!

Promo for promotional rates ends on 31 Aug - meaning if you dun register and fund by 31 Aug, no more promo interest for you! For existing customers only.

New customers, promo ends 30 Sept!

so should open account in aug or sep for new customers?