CIMB FastSaver

[Garlic & Butter]

if my balance in 30 June is $0, I need to deposit and maintain at least $5000 on 31 July, 31 Aug and 30 Sep right?

it seems there are two conditions, $5k fresh funds on 31 Jul and at each month end?

 

[sibeiTrolled]

if my balance in 30 June is $0, I need to deposit and maintain at least $5000 on 31 July, 31 Aug and 30 Sep right?

CIMB base and bonus interest are calculated on a daily basis.
Maintain at least 1K and you get the base interest.

Each day that you do not meet the requirement of the 5K, you won't get the calculated bonus interest for that day.

Each month end that you do not meet the requirement of the 5K, you won't get the calculated bonus interest for that month.

it seems there are two conditions, $5k fresh funds on 31 Jul and at each month end?

As long as you maintain 5K fresh funds throughout the month for Jul, you will 100% get the bonus interest for Jul

The 2 conditions are the same. It is just to deter people from moving funds out on the last day of the month.
Treat this as a fixed deposit and you won't have any problem with it.

You can refer to the table shown in page 3 of the Jul TnC as it cover all the possible use cases.

 

[Garlic & Butter]

thank you!!

 

[twosix]

hey @sohguanh, do you know the reason why open CIMB MY acocunt requires payslip and income tax assessment? CIMB SG also never ask to see.

You opening a bank acct in a foreign land. Thry want to verify u. U try opening in usa. Straight away reject u if u not working there.

 

[sglandscape]

You opening a bank acct in a foreign land. Thry want to verify u. U try opening in usa. Straight away reject u if u not working there.

In the US need a visa (and a valid address) if you're a foreigner, if not comfirm cannot open.

 

[twosix]

And opening an acct with ocbc, dbs or uob in malaysia is relatively easy for Singaporeans. Just open an fd with them after verification.

 

[sohguanh]

In the US need a visa (and a valid address) if you're a foreigner, if not comfirm cannot open.

I believe in Spore quite similar a EP SPass WP etc and a living Spore address

 

[sglandscape]

I believe in Spore quite similar a EP SPass WP etc and a living Spore address

Nope don't think so given we are a wealth centre. Also check out the OCBC guide for for foreigners

https://www.ocbc.com/personal-banki...bank-account-in-singapore-for-foreigners.page

 

[sohguanh]

Nope don't think so given we are a wealth centre. Also check out the OCBC guide for for foreigners

https://www.ocbc.com/personal-banki...bank-account-in-singapore-for-foreigners.page

Not sure you are working in a place where there are work pass holder colleagues real life sharing. As to your URL

Hold e-passports from Hong Kong, Malaysia, Indonesia or mainland China

 

[sglandscape]

Not sure you are working in a place where there are work pass holder colleagues real life sharing. As to your URL

Hold e-passports from Hong Kong, Malaysia, Indonesia or mainland China

Know for a fact wealth customers can open cross borders without issue.

 

[sohguanh]

Know for a fact wealth customers can open cross borders without issue.

Our topic is on foreigners in Spore as workers all different work pass. For wealthy customers it is different category of cuz.

 

[sglandscape]

Our topic is on foreigners in Spore as workers all different work pass. For wealthy customers it is different category of cuz.

The risk for KYC is foreigners who do not work in the country, which is exactly the topic of discussion. The reason why wealth is mentioned is because, the risk is even higher! If you could pass all of those hurdles, anything below would be relatively easier from a risk perspective.

 

[waterpighead]

CIMB base and bonus interest are calculated on a daily basis.
Maintain at least 1K and you get the base interest.

Each day that you do not meet the requirement of the 5K, you won't get the calculated bonus interest for that day.

Each month end that you do not meet the requirement of the 5K, you won't get the calculated bonus interest for that month.


As long as you maintain 5K fresh funds throughout the month for Jul, you will 100% get the bonus interest for Jul

The 2 conditions are the same. It is just to deter people from moving funds out on the last day of the month.
Treat this as a fixed deposit and you won't have any problem with it.

You can refer to the table shown in page 3 of the Jul TnC as it cover all the possible use cases.

Hi all,
I took part in this cimb fastsavers bonus promo on 1 Jul and deposited > $5k to earn 3.5% interest. Assuming i transfer out fr fastsavers on 1 Aug (to take part in other savings account with higher interest rate), will i still be eligible for 3.5% if i re-deposit the funds back to fastsaver in month of Sep?
Thanks!

 

[sibeiTrolled]

Assuming i transfer out fr fastsavers on 1 Aug (to take part in other savings account with higher interest rate)

Each month is independent of each other in this 3 month promo

If you take out on 1st Aug, then you are still eligible for Jul bonus interest PROVIDED your month end has >5K SGD.

will i still be eligible for 3.5% if i re-deposit the funds back to fastsaver in month of Sep?

Since you are 'registered" as a Jul promo user, placing the money back into fast saver on 1st Sep won't change your registered promo regardless of any ongoing promo at that time unless CIMB specifically say that it stacks.

Yes, eligible. Do remember to maintain the money till Oct 2024
But for the sake of clarity, i would recommend hitting up CIMB support.


Any reason why you want to leave for 1 month then come back?

 

[waterpighead]

Each month is independent of each other in this 3 month promo

If you take out on 1st Aug, then you are still eligible for Jul bonus interest PROVIDED your month end has >5K SGD.


Since you are 'registered" as a Jul promo user, placing the money back into fast saver on 1st Sep won't change your registered promo regardless of any ongoing promo at that time unless CIMB specifically say that it stacks.

Yes, eligible. Do remember to maintain the money till Oct 2024
But for the sake of clarity, i would recommend hitting up CIMB support.


Any reason why you want to leave for 1 month then come back?

May wanna see if other banks are offering better bonus interest rates, eg EGA or eSavers. If yes, then likely switch over for the higher BI.

 

[jackiehuat]

I remember the Jun promotion is till 31 July. Now they change TnCs. Wasted 3 weeks of interests.

 

[60Remajust]

I remember the Jun promotion is till 31 July. Now they change TnCs. Wasted 3 weeks of interests.

isint it gd they extended it?

 

[jackiehuat]

isint it gd they extended it?

For Customers who participated in CIMB CASA Bonus Interest/Profit Promotion June 2024, will not be eligible to participate in the July Promotion, please click here for the full terms and conditions.

 

[60Remajust]

For Customers who participated in CIMB CASA Bonus Interest/Profit Promotion June 2024, will not be eligible to participate in the July Promotion, please click here for the full terms and conditions.

July promo is the jul-sep window

The june promo has been extended to june-aug

how was 3 weeks interest wasted?

 

[jackiehuat]

July promo is the jul-sep window

The june promo has been extended to june-aug

how was 3 weeks interest wasted?

I see. Its for 3 months. Thanks!