CIMB FastSaver

[tiertime]

did u whatsapp register in Aug ? or Sep

by lock in, I suppose u r referring to the Preferred Welcome reward ... I dont think it is worth it to let your $ sit idle for 1 month in CIMB

When did you sign up for the bonus event? The reference month of July means it starts in August; and not September(regardless if you did any top ups in August or not)

For my case, I had a fastsaver and then I opened a starsaver to deposit $250k so as to take up the preferred promo. The RM initially told me to wait till Oct 1 to sign up to get the maximum interest and the $588 but she called me again to say that she was not confident that the 3.5% promo will be extended. Hence, I signed up on the 28th Sep. The 3.5% will end in end Feb for me however I went to relook into the tnc and I was required to hold the $250k for a full 6 months. That means I will lose out 28 days of promotional interest since I can withdraw after 28th mar 24 only. I calculated the opportunity cost should be around $200+(since I can transfer them to esaver to earn my 3.8%), to get the $588.

I had a fastsaver dormant account and then they had to reactivate that for me before approving my newly registered starsaver account

I whatsApped on 23rd Aug to register for the ELEVATE YOUR SAVINGS promotion , then it auto replied :
Earn 3.5%p.a. for the next 6 months on incremental fresh funds as compaired to 31st Jul

I am unsure for the 6 month promo interest, will they start count from 1st Aug or 1st Sep , and if I will get 3.5% in the month of Feb ...

 

[bargin]

HAHA found the existing customer for 1 to 31 Aug 2023 - someone also archived it

https://web.archive.org/web/2023080...overning-casa-bonus-interest-promo-23-etb.pdf

I had a fastsaver dormant account and then they had to reactivate that for me before approving my newly registered starsaver account

I whatsApped on 23rd Aug to register for the ELEVATE YOUR SAVINGS promotion , then it auto replied :
Earn 3.5%p.a. for the next 6 months on incremental fresh funds as compaired to 31st Jul

I am unsure for the 6 month promo interest, will they start count from 1st Aug or 1st Sep , and if I will get 3.5% in the month of Feb ...

https://web.archive.org/web/2023080...overning-casa-bonus-interest-promo-23-etb.pdf

Please read the tnc as posted by bro sibeiTrolled.

If u register in Aug 2023, the promotion will start in Aug 2023. 3.5% p.a will end in Jan 2024
If u deposit $1,000 in the fastsaver in Aug, u will receive the bonus interest on 20 Sep 2023

 

[saintgtril]

Yes starting from 1 Aug till end Jan 24

It is as good as it lasts.

 

[compro_1975]

For Aug batch.... it is measured on the last day... so if the last day I bump up to 75k means interest of 75k ar?

 

[sglandscape]

For Aug batch.... it is measured on the last day... so if the last day I bump up to 75k means interest of 75k ar?

Do not understand your question. Did you read the TnC?

 

[mata_hippo]

so for those that started in aug, can transfer out the $ from 1 feb 2024, last interest will come in 20 feb 2024?

 

[sglandscape]

so for those that started in aug, can transfer out the $ from 1 feb 2024, last interest will come in 20 feb 2024?

Yes

 

[compro_1975]

Do not understand your question. Did you read the TnC?

Yea tnc uses the last day's balance to calculate the interest.. but jiuhu brand I wanna see if anyone validate it.. eg whole month $1 and last day $75k

 

[sglandscape]

Yea tnc uses the last day's balance to calculate the interest.. but jiuhu brand I wanna see if anyone validate it.. eg whole month $1 and last day $75k

that's not what the tnc said, you may want to reread it.

 

[a4973]

Yea tnc uses the last day's balance to calculate the interest.. but jiuhu brand I wanna see if anyone validate it.. eg whole month $1 and last day $75k

Why don't you validate it for the community?

 

[sibeiTrolled]

Yea tnc uses the last day's balance to calculate the interest.. but jiuhu brand I wanna see if anyone validate it.. eg whole month $1 and last day $75k

Are you a new or existing customer? And why asking this you are already balls deep into the promotion?!

To get the full 3.5%, all you need to follow Point 4 - To qualify for this Promotion

To understand how much you are getting for the base interest and bonus interest, you can just look at Point 9 -Illustration on the calculation of the Bonus Interest/Profit

If you want to keep $1 for the entire month except last day , you wont get the base interest cause you have less than SGD 1000 except on that last day. You also wont get the bonus interest for the entire month except for the last day

Terms & Conditions
*Interest/profit accrued daily and credited monthly. Daily interest/profit will be paid on the entire daily balance, provided that the balance is at least S$1,000 in your savings and S$5,000 in current account on any given day. Indicated rates are based on prevailing base rates and correct as of 1 August '23. Other terms and conditions apply. Please refer to the individual product pages for details.

 

[Youmigratecanotherscant]

So I have cimb starsaver and fastsaver. Which Of this two should I move money into in order to get some higher interest rate ?

moving in from Uob one

 

[compro_1975]

Why don't you validate it for the community?

last month liao... plus now money all in mari liao, lockin there for 60days but should be in time for 31 jan 24

 

[sibeiTrolled]

moving in from Uob one

Isnt UOB One interest higher if you meet all the requirements?

So I have cimb starsaver and fastsaver. Which Of this two should I move money into in order to get some higher interest rate ?

There are some differences between star and fast saver.
You might want to read up or contact support to ask about the differences first.

If you are just intending to put SGD 75K, then fast saver will work fine if you intend to continue after the promotion.
If you are just targeting this 3.5% promotion, then both are the same.

 

[Youmigratecanotherscant]

Isnt UOB One interest higher if you meet all the requirements?

There are some differences between star and fast saver.
You might want to read up or contact support to ask about the differences first.

If you are just intending to put SGD 75K, then fast saver will work fine if you intend to continue after the promotion.
If you are just targeting this 3.5% promotion, then both are the same.

Thank you so much for spoon feeding. I guess I will just use fastsaver.

Uob has better harmony and I like it more. We ,in uob, are expecting some cny promo where we have to bring fresh funds. So some of us are gonna transfer out cash.

will the fastsaver bonus interest also work if only keeping funds there for 14 days ? when I planning to exit fastsaver I must make sure there is 1k left behind is it ?

 

[sibeiTrolled]

will the fastsaver bonus interest also work if only keeping funds there for 14 days ?

Yes. You can refer to this.

"*Interest/profit accrued daily and credited monthly. Daily interest/profit will be paid on the entire daily balance, provided that the balance is at least S$1,000 in your savings and S$5,000 in current account on any given day. Indicated rates are based on prevailing base rates and correct as of 1 August '23. Other terms and conditions apply. Please refer to the individual product pages for details."

Assuming you are a new customer, as long you have the minimum required funds of 1K in your fast saver, you will get both the base and bonus.

So lets say you throw in funds, lets say SGD 10K, on Jan 1 till Jan 14 and withdraw all on Jan 15, you will still get the base and bonus of the 10K interest from Jan 1 till Jan 14 but not after that.
Assuming you withdraw SGD 9K instead, then you will get the base and bonus of the SGD 1K balance.

Base interest is paid on the end of month
Bonus interest is paid on the 20th of next month

when I planning to exit fastsaver I must make sure there is 1k left behind is it ?

TBH, i didn't read anything about a minimum balance required to maintain the account but you might want to double check again.
But you can keep the 1K just to continue earning the 3.5% as well.

 

[Youmigratecanotherscant]

Yes. You can refer to this.

"*Interest/profit accrued daily and credited monthly. Daily interest/profit will be paid on the entire daily balance, provided that the balance is at least S$1,000 in your savings and S$5,000 in current account on any given day. Indicated rates are based on prevailing base rates and correct as of 1 August '23. Other terms and conditions apply. Please refer to the individual product pages for details."

Assuming you are a new customer, as long you have the minimum required funds of 1K in your fast saver, you will get both the base and bonus.

So lets say you throw in funds, lets say SGD 10K, on Jan 1 till Jan 14 and withdraw all on Jan 15, you will still get the base and bonus of the 10K interest from Jan 1 till Jan 14 but not after that.
Assuming you withdraw SGD 9K instead, then you will get the base and bonus of the SGD 1K balance.

Base interest is paid on the end of month
Bonus interest is paid on the 20th of next month

TBH, i didn't read anything about a minimum balance required to maintain the account but you might want to double check again.
But you can keep the 1K just to continue earning the 3.5% as well.

Thank you for the detailed write up shifu.

i am an existing customer of cimb. I will have FD matusing in January also. I guess I will just let the FD go to the star saver account.

_provided that the balance is at least S$1,000 in your savings and S$5,000 in current account on any given day_
the above line means better to keep atleast 5k left behind in fastsaver account for next 6 months or just 1k after I move back funds to Uob one ?

 

[sibeiTrolled]

i am an existing customer of cimb

If so, then you will have to read up the existing to bank version of your TnC as the registration and requirement is slightly different. - https://www.cimb.com.sg/content/dam...overning-casa-bonus-interest-promo-23-etb.pdf

I will have FD matusing in January also. I guess I will just let the FD go to the star saver account.

You better check if the FD monies is counted as fresh funds based on the TnC Point 5

_provided that the balance is at least S$1,000 in your savings and S$5,000 in current account on any given day_

This is for the interest calculation. If you do not have the base amount required, then you wont get the base interest for the day

 

[compro_1975]

Did anyone receive a mail fr cimb on taka vouchers promo? Salary crediting, income tax giro and incoming paynow with cimb can get $150, $150 and $50 taka vouchers respectively

i cant find in the tnc need maintain the crediting, giro for how long leh.... any idea?

 

[bearkia]

IRAS rejected my GIRO application for CIMB. No choice, has to reactivate to GIRO with existing bank..