CIMB FastSaver

[heng_ah]

Looks like the promotion got extended for existing customer:

TnC with different qualifying period for existing customer and different reference month.
Looks like we have to play musical chair in the future.

 

[yiron]

It's a new promo with different set dates.

Previous one compares against 31st Jul and this new one compares against 31st Aug

Interesting. Wonder if CIMB is gonna be like SCB eSaver but rolling monthly with a 6 month period.

 

[sglandscape]

Interesting their promotional mechanics becoming like HSBC EGA and they are starting different promotion periods based on when you register.

 

[sglandscape]

Interesting. Wonder if CIMB is gonna be like SCB eSaver but rolling monthly with a 6 month period.

More similar to HSBC EGA cause it depends on when you register (ie you choose). Esaver don't really have much of a choice except for those with special invite

 

[yiron]

More similar to HSBC EGA cause it depends on when you register (ie you choose). Esaver don't really have much of a choice except for those with special invite

Fair point, both CIMB and HSBC require registration, though HSBC's registration is account number specific while CIMB's registration is accountholder specific.
Not sure if possible to register again during the 6 month cycle when you have already registered in earlier months

 

[vsvs24]

Fair point, both CIMB and HSBC require registration, though HSBC's registration is account number specific while CIMB's registration is accountholder specific.
Not sure if possible to register again during the 6 month cycle when you have already registered in earlier months

Sep tnc.

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;
d. register for this Promotion within the Promotion Period through our official
corporate website (www.cimb.com.sg) or CIMB Eva Chatbot.
e. must not have registered for the same promotion in the previous month.

 

[yiron]

Sep tnc.

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;
d. register for this Promotion within the Promotion Period through our official
corporate website (www.cimb.com.sg) or CIMB Eva Chatbot.
e. must not have registered for the same promotion in the previous month.

Hmmm can only do musical chair by human (though technically can play with the last day of month clause). Spare human can use as backup in case the CASA promo rates go up.
See if the promo extends going forward.

 

[waterpighead]

Base interest rate, Bonus on 20th

So now it’s base int rate of 1.5%, and the remaining 2% will be the bonus int that will be credited on 20th?
thks

 

[vsvs24]

Don't think CIMB plan for this long term. Probably just extend to make it on par with new customer program.

 

[BlackTortoise]

If pump full tank into August then need to take out all today to play musical chair like hsbc ega to show incremental balance? Or leave full tank into the Fastsaver for 6 months? For existing customers I am asking.

 

[Mickey01]

If pump full tank into August then need to take out all today to play musical chair like hsbc ega to show incremental balance? Or leave full tank into the Fastsaver for 6 months? For existing customers I am asking.

Go and read Clause 9 & 10 again. It is very clear.

 

[BlackTortoise]

Go and read Clause 9 & 10 again. It is very clear.

Siao Liao. Then I must empty out today since my 31 Aug pumped full tank Liao. Where should I move it to?

 

[laurent_rio]

so for this CIMB Saver i only need to top up on last day of the month to get interest, example my reference mont is July
end of July balance = 0

1-30 aug = 0
31 Aug = 50k

i will get 3.5% for 50k ?

 

[sglandscape]

so for this CIMB Saver i only need to top up on last day of the month to get interest, example my reference mont is July
end of July balance = 0

1-30 aug = 0
31 Aug = 50k

i will get 3.5% for 50k ?

Yes you get 3.5% on that 50k for 1 day

 

[sohguanh]

Just a reminder if anyone CIMB FD mature and the proceeds go into the FastSaver don't think that amount will qualify for the bonus interest. So need to transfer that matured FD out to other bank go one round and then back into FastSaver to qualify as fresh funds to satisfy condition to qualify for bonus interest.

CR VIA FAST - monies come into fastsaver
TRF VIA FAST - monies go out of fastsaver

 

[waterpighead]

Siao Liao. Then I must empty out today since my 31 Aug pumped full tank Liao. Where should I move it to?

Thot it depends on when u sign up for the promo? If sign up in Aug, the next 6 months’ incremental fresh funds are compared to 31 July balance

 

[BlackTortoise]

Thot it depends on when u sign up for the promo? If sign up in Aug, the next 6 months’ incremental fresh funds are compared to 31 July balance

I am an existing customer so reference month is August. So I will empty out today and pump full tank into Maybank iSAVvy since reference month July I emptied out full tank already. Also, my esaver reference month is July also full tank already. Huat ahh!

 

[sohguanh]

Thot it depends on when u sign up for the promo? If sign up in Aug, the next 6 months’ incremental fresh funds are compared to 31 July balance

I interpret same as you. I go extract the important clause from Aug and now Sep. Think CIMB become "smarter"

Existing User Aug register.
Clause 10
10. 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.

Existing User Sep register.
Clause 9 below is NOT in Existing User Aug register pdf
9. Month-end Incremental Balance refers to comparing end-day-balance on last day of the month against the end-day-balance on the last day of the comparison month (i.e. 31 August 2023). For example, 30 September 2023 end-of-day balance is compared against 31 August 2023 endof-day balance.

Clause 10 is similar to Existing User Aug Clause 10
10. Incremental Fresh Funds Balance refers to comparing end-day-balance on that day against that
of 31 August 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.

 

[1l92041H]

lol from some of the replies. Some ppl actually think u just need to fund on last day of the month and u earn interest for that entire month.

 

[sohguanh]

lol from some of the replies. Some ppl actually think u just need to fund on last day of the month and u earn interest for that entire month.

Maybe if next time they ownself open bank they really do that kind of business leh? In this world anything goes actually haha