CIMB FastSaver

[thekh21]

Patterns lots,for new sign up .How abt previous customers..

 

[yiron]

https://www.cimb.com.sg/en/personal...imb-fastsaver-account.html#existing-customers

Flat 3.5% with 5k top-up till 31 July

Interesting, so assuming we do salary crediting, it's 4% on first $25k for Fastsaver. Not sure it's worth the effort though.

 

[1l92041H]

this new promo, the most crucial day is 30th June and 31st July?

If miss by even $1 lose all the bonus interest for that entire month?

 

[artemov]

Maybank and CIMB are coordinating is it? Every 2 months I will transfer to and fro
Not complaining of cos.

 

[Sambuca78]

Moreover, credit your salary or set up scheduled recurring transfers (Standing Instructions via GIRO) of minimum S$1,000 into your CIMB FastSaver Account to earn additional interest rate of 0.50%^ p.a. on the first S$25,000 of your CIMB FastSaver Account balance.

What is Standing Instructions via GIRO?

 

[V_for_Vanilla]

Maybank and CIMB are coordinating is it? Every 2 months I will transfer to and fro
Not complaining of cos.

For me is scb, maybank, cimb. Rhb and HL bank no more action.

 

[lzydata]

this new promo, the most crucial day is 30th June and 31st July?

If miss by even $1 lose all the bonus interest for that entire month?

Must fulfill both end-of-month and end-of-day balance requirements - minimum incremental $5k fresh funds. So it is not only 30 June but every day of June that must have at least $5k more compared to 31 May, for you to earn the bonus interest for June.

 

[sibeiTrolled]

Dam, it seems like CIMB is following route of HSBC in giving the bonus interest / profits late.

For anyone lazy to read, please freaking read the TNC and for anyone that wishes to play around, there is now the day end comparison and month end comparision.

Do note that that the bonus interest / profits will be given out in Sept 24

"Bonus Interest/Profit (if any) will be accrued daily and credited into the Qualifying Account(s) on 2 September 2024."

Bye, time to go to ESaver LOL

 

[EveMuffins]

is CIMB outwards funds transfer still capped at $100k?

 

[Sambuca78]

Must fulfill both end-of-month and end-of-day balance requirements - minimum incremental $5k fresh funds. So it is not only 30 June but every day of June that must have at least $5k more compared to 31 May, for you to earn the bonus interest for June.

If I have $1 on 31 May, I just need to maintain min $5001 everyday till 31 July and get the bonus interest on 2 Sept, correct? at least that is how I interpret from the tnc la.

 

[reflecx]

If I have $1 on 31 May, I just need to maintain min $5001 everyday till 31 July and get the bonus interest on 2 Sept, correct? at least that is how I interpret from the tnc la.

No, you only need $5001 at the end of June and July. For other days of the 2 months, you will only get bonus interest for that day if you have $5001 or more.

is CIMB outwards funds transfer still capped at $100k?

It's 200k.

"Bonus Interest/Profit (if any) will be accrued daily and credited into the Qualifying Account(s) on 2 September 2024."

HSBC is towards the end of Sep, so CIMB is still better in this regard.

 

[Izumi8]

But do we need to register the promo with SMS?

 

[ThreeSteps]

for public
Bonus Interest Promotion for New and Existing Customers
Earn a flat interest/profit rate of 3.50%** p.a. with NO cap on interest earned and NO lock-in period
New Customer - https://www.cimb.com.sg/en/personal...otions/accounts/casa-ntb-35.html#new-customer
Existing Customer - https://www.cimb.com.sg/en/personal/promotions/latest-promotions/accounts/casa-ntb-35.html#existing

T&Cs (New Customer) : https://www.cimb.com.sg/content/dam...ccounts/TnC_CASA_Bonus_Interest_NTB_May24.pdf
T&Cs (Existing Customer) : https://www.cimb.com.sg/content/dam...4/tnc_CASA_Bonus_Interest_Promo_ETB_Jun24.pdf

 

[V_for_Vanilla]

Dam, it seems like CIMB is following route of HSBC in giving the bonus interest / profits late.

For anyone lazy to read, please freaking read the TNC and for anyone that wishes to play around, there is now the day end comparison and month end comparision.

Do note that that the bonus interest / profits will be given out in Sept 24

"Bonus Interest/Profit (if any) will be accrued daily and credited into the Qualifying Account(s) on 2 September 2024."

Bye, time to go to ESaver LOL

It says for amount over $250k the prevailing interest will be straight 3.5%. So there may not be need of any bonus interest to be credited in Sep.

 

[sibeiTrolled]

It says for amount over $250k the prevailing interest will be straight 3.5%. So there may not be need of any bonus interest to be credited in Sep.

Can i assume that you are referring to Star Saver (SSA)?

It is also tiered. So the first 250K is less than 3.5% which will require the bonus interest on Sep 2024

Anyway, also don't have 250k +++ to dump into merry go round

 

[V_for_Vanilla]

Can i assume that you are referring to Star Saver (SSA)?

It is also tiered. So the first 250K is less than 3.5% which will require the bonus interest on Sep 2024

Anyway, also don't have 250k +++ to dump into merry go round

Oh yes it is tiered. I read wrongly.

 

[ChrisL82]

Moreover, credit your salary or set up scheduled recurring transfers (Standing Instructions via GIRO) of minimum S$1,000 into your CIMB FastSaver Account to earn additional interest rate of 0.50%^ p.a. on the first S$25,000 of your CIMB FastSaver Account balance.

What is Standing Instructions via GIRO?

I wonder whether the crediting of salary can be a situation of paynow trsf with salary as the purpose of payment frm a non corporate bank account..

 

[1l92041H]

But do we need to register the promo with SMS?

no need right? i don't see that as requirement. most important is to ensure $5k incremental compared to 31 may on end june and end july to get BI for all the days there is incremental too

 

[ChrisL82]

Dam, it seems like CIMB is following route of HSBC in giving the bonus interest / profits late.

For anyone lazy to read, please freaking read the TNC and for anyone that wishes to play around, there is now the day end comparison and month end comparision.

Do note that that the bonus interest / profits will be given out in Sept 24

"Bonus Interest/Profit (if any) will be accrued daily and credited into the Qualifying Account(s) on 2 September 2024."

Bye, time to go to ESaver LOL

The late credit of bonus interest is a drawback. UOB 1 and OCBC 360 does it the subsequent month.
How I read the t&c is that one must maintain at least 5,000 daily and month-end and more than the balance as of 31 May where is the comparison month. i.e. 6 Jun end daily balance, 30 Jun end balance will need to at least 5,000 more than 31 May end balance. So can just transfer one chunk more than 5,000 and leave it in the account for 2 months, not touching it and withdraw entire balance after 31 Jul if one desires and still receive the bonus interest 2 September. Not sure whether I got this right, loads of words like daily/ mthly etc in the t&c and it can get confusing.

 

[sibeiTrolled]

o can just transfer one chunk more than 5,000 and leave it in the account for 2 months, not touching it and withdraw entire balance after 31 Jul if one desires and still receive the bonus interest 2 September

Yes. Treat it as a 2 months FD that doesn't penalize you for the entire period for withdrawal with exception at month end. Just don't leave it less than incremental 5K at month end

1 good thing about CIMB is their TnC illustrates their example of month end and day end. You can also refer that that to better understand.