CIMB FastSaver

[hwarzoner]

From AI

For your CIMB Bank FastSaver example:


You earn about $544.82 on $500,000 for one month.


To annualize it (EIR = Effective Interest Rate):


FV=PV(1+r)nFV = PV(1+r)^nFV=PV(1+r)n
FV=PV(1+r)n=1000(1+0.05)20=$2,653.30FV=PV(1+r)^n=1000(1+0.05)^{20}=\text{\$2,653.30}FV=PV(1+r)n=1000(1+0.05)20=$2,653.30
PV\mathrm{PV}PV

$
rrr

%
nnn





Simple way:

EIR=544.82500000×36531EIR = \frac{544.82}{500000} \times \frac{365}{31}EIR=500000544.82×31365
= 1.28% p.a.


That’s your effective annualized yield for this promo period.

Breakdown:

• Base interest alone = ~0.59% p.a.
• Bonus promo lifts it to ~1.28% p.a.

Why low?
Because FastSaver’s structure is front-loaded:

• good rates only on first $75k
• everything above that falls back to 0.50%

For large balances like $500k, FastSaver is not ideal.

Comparison for your $500k:

• FastSaver → ~1.28% EIR
• StarSaver → ~1.95% EIR (much better)
• Some fixed deposits now can be around 2.2–2.8% depending on tenure.

If your goal is to park large cash short-term, StarSaver is usually the stronger CIMB choice.

 

[ThreeSteps]

from chatgpt

For CIMB Bank FastSaver, with:

• S$500,000 deposited in July
• $0 balance on 30 June (so full $500k counts as incremental)
• Normal / Personal Banking (bonus = 0.70%)

Here’s the calculation:

1) Prevailing interest (FastSaver tiers)​

From your promo sheet:

• First $25k @ 0.50%
• Next $25k @ 1.08%
• Next $25k @ 1.58%
• Above $75k @ 0.50%

For $500k:

• First $25k → $10.62
• Next $25k → $22.93
• Next $25k → $33.53
• Remaining $425k → $180.48

Total prevailing interest = ~$247.56

---

2) Bonus interest (0.70%)​

Bonus applies on full incremental balance.

500,000×0.007×31365500,000 \times 0.007 \times \frac{31}{365}500,000×0.007×36531
= ~$297.26

---

Total July earnings​

$247.56 + $297.26 = ~$544.82


So if you park $500k for the whole of July, expect about $545 total.


One important note:
FastSaver’s base rate after $75k drops to only 0.50%, so for large sums like $500k, StarSaver usually pays much more (about $813 total for the same amount). FastSaver is better for smaller balances.

from human common sense:
have $500k ? ==> go Citibank
https://www.citibank.com.sg/persona...count?lid=SGENCBGBAMITLCitiWealthFirstAccount

 

[iceblendedchoc]

from human common sense:
have $500k ? ==> go Citibank
https://www.citibank.com.sg/persona...count?lid=SGENCBGBAMITLCitiWealthFirstAccount

need to invest with them , which is a turn off

 

[sibeiTrolled]

need to invest with them , which is a turn off

I don't think citi private requires to hit all of the checkbox.
You can just stay to the spending, saving and earn

 

[sibeiTrolled]

For large balances like $500k, FastSaver is not ideal.

Comparison for your $500k:

• FastSaver → ~1.28% EIR
• StarSaver → ~1.95% EIR (much better)
• Some fixed deposits now can be around 2.2–2.8% depending on tenure.

If your goal is to park large cash short-term, StarSaver is usually the stronger CIMB choice.

Instead of posting the entire AI reply, you could have just copy paste this and call it a day

 

[iduncheckmail]

I don't think citi private requires to hit all of the checkbox.
You can just stay to the spending, saving and earn

from human common sense:
have $500k ? ==> go Citibank
https://www.citibank.com.sg/persona...count?lid=SGENCBGBAMITLCitiWealthFirstAccount

U need to do the invest n insure ,
Else citi wealth is not worth jus to do the simple categories

 

[hwarzoner]

Instead of posting the entire AI reply, you could have just copy paste this and call it a day

i can post what i like, not happy can ignore.

 

[tiertime]

woah this must be very impt to you .

your account 21years . You only post 1 msg every 5years ah.
smells more like a clone.

But what does it matter ?
Coz He is asking a question relevant to the thread

 

[iduncheckmail]

But what does it matter ?
Coz He is asking a question relevant to the thread

Precisely

 

[tiertime]

Anybody knows :
I'm trying to set up the SI in my DBS BANK for transfer to CIMB,
Apart from entering SI - CIMB in the description , there is this pulldown menu which we hv to select,

wat do we choose from the pulldown menu - "Others" or "salary" ?

 

[sglandscape]

Anybody knows :
I'm trying to set up the SI in my DBS BANK for transfer to CIMB,
Apart from entering SI - CIMB in the description , there is this pulldown menu which we hv to select,

wat do we choose from the pulldown menu - "Others" or "salary" ?

You can select anything you want, just make sure it's in the description and it's SI.

 

[tiertime]

The SI from 3rd party bank alr got deducted,
Anybody knows when will it get reflected in my CIMB Fast saver ?

 

[addict951]

The SI from 3rd party bank alr got deducted,
Anybody knows when will it get reflected in my CIMB Fast saver ?

2 days later. Same like a GIRO payment

 

[ahchan]

Just to confirm.

For the SI, I have put the description as "SI-CIMB" but discovered that when it shown on the CIMB transaction record, it is shown as "SI SI-CIMB". I hope it does not matter. Anyone can confirm ?

 

[JetStorm]

If 500K no frills just go for Fast saver for first 75k then Maybank 1.68% for the rest.

 

[addict951]

Just to confirm.

For the SI, I have put the description as "SI-CIMB" but discovered that when it shown on the CIMB transaction record, it is shown as "SI SI-CIMB". I hope it does not matter. Anyone can confirm ?

Eh you transferred from which bank ar?

Mine is worse. My source bank is Citi and the remark I stated very clearly SI - CIMB.
Now the transaction showed up on my Fastsaver riao but totally dun have SI - CIMB. Wtf
SI SI showing twice is fine. Happened to me last year too, I got the benefit

 

[addict951]

Eh those who transferred SI - CIMB from DBS, it is just a future recurring transfer hor?
Then when it reached your CIMB a/c liao, it is a GIRO-IBG transaction hor? Thx thx

 

[Devilsire]

Eh those who transferred SI - CIMB from DBS, it is just a future recurring transfer hor?
Then when it reached your CIMB a/c liao, it is a GIRO-IBG transaction hor? Thx thx

yup. i remember it being a "Standing instruction" button in the past on dbs website/app
now i think the interface have changed, just select Scheduled transfers -> Recurring, add in the "SI - CIMB"
CIMB shows GIRO-IBG with "SI SI - CIMB", should be safe from my previous experience last yr

 

[addict951]

@tiertime your SI - CIMB from DBS, does it show GIRO-IBG on your CIMB account?

 

[ahchan]

Eh you transferred from which bank ar?

Mine is worse. My source bank is Citi and the remark I stated very clearly SI - CIMB.
Now the transaction showed up on my Fastsaver riao but totally dun have SI - CIMB. Wtf
SI SI showing twice is fine. Happened to me last year too, I got the benefit

I transferred from DBS.