CIMB FastSaver

[EeeK]

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

wouldn't it be better to put all this $500k on cimb starsaver at the eir of 1.91% (current 0.7% bonus interest included)

 

[sibeiTrolled]

wouldn't it be better to put all this $500k on cimb starsaver at the eir of 1.91% (current 0.7% bonus interest included)

if you already have a starsaver account, then ya, this makes more sense

 

[tiertime]

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

Giro-IBG
... (some random numbers?)
... (some random numbers?)
SI SI - CIMB

like that ok bo ?

 

[laladuck]

Extracted from TnC: Set up recurring monthly standing instruction from a non-CIMB 1st party named account...

Does it mean to transfer from my account or another party's account?

 

[wutawa]

cimb clicks → cimb octo

 

[saintgtril]

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.

Hi all, noted that the standing instruction is not applicable to StarSaver account. The question that I have is what is the optimized approach (to get the maximum interest) for large balance?

Do you all still proceed to park the large balance e.g. $500K only in StarSaver even though the standing instruction is not applicable?

Any comments, view and suggestion is well much appreciated. Thanks!

 

[yslvlys]

Hi all, noted that the standing instruction is not applicable to StarSaver account. The question that I have is what is the optimized approach (to get the maximum interest) for large balance?

Do you all still proceed to park the large balance e.g. $500K only in StarSaver even though the standing instruction is not applicable?

Any comments, view and suggestion is well much appreciated. Thanks!

Need to do the math in spreadsheet to tell..

 

[sibeiTrolled]

Do you all still proceed to park the large balance e.g. $500K only in StarSaver even though the standing instruction is not applicable?

Any comments, view and suggestion is well much appreciated. Thanks!

https://forums.hardwarezone.com.sg/threads/cimb-fastsaver.5176026/post-159474865
EIR of 1.91% for 500K

Just calculate in excel or libreoffice or onlyoffice or google sheets or simply ask AI

 

[Avks9377]

What about effort? If no SI, to how to transfer money out quickly. Heard limit on fast transfer is only $100K. So need a few days to transfer all? Use chq? But that also not immediate

 

[iduncheckmail]

What about effort? If no SI, to how to transfer money out quickly. Heard limit on fast transfer is only $100K. So need a few days to transfer all? Use chq? But that also not immediate

wat u blabbing abt?

Standing instruction is jus a recurring/future dated transfer. it is still abiding by the daily transfer limit.

No, the daily limit is not 100k . Google it yourself . not spoon feeding u.

Cheque IS immediate deduction/credit from both bank's perspective. You just need to re-empt the deduction date as it will be 2-3days after u drop the check.

 

[neanea]

Fastsaver rate for this month only correct?

 

[henrylbh]

Hi all, noted that the standing instruction is not applicable to StarSaver account. The question that I have is what is the optimized approach (to get the maximum interest) for large balance?

Do you all still proceed to park the large balance e.g. $500K only in StarSaver even though the standing instruction is not applicable?

Any comments, view and suggestion is well much appreciated. Thanks!

On 2 Jul I went ocbc to withdraw $$$$ from my joint dividend + account by cashier order leaving $1k behind. At the same time I open another dividend + account in my own name by depositing $50,000. I was prepared to pay for the Cashier Order but the bank waived the charge. Same day, took the CO to CIMB to open CIMB starsaver preferred to earn the promo of up to 2.38% for Jul/Aug and interest commenced on 3 Jul after clearance of CO.

 

[Calthron]

Guru, the 2.38% is for July, Aug only?

 

[reflecx]

Guru, the 2.38% is for July, Aug only?

It is "up to" 2.38%, not a flat 2.38%. Yes, it's for July and Aug, but so far they will renew the promo every month, so Aug-Sep will have another batch.

 

[Calthron]

Thanks. It looks more attractive than Maybank 1.68% ...

 

[Honda_typeR]

It is "up to" 2.38%, not a flat 2.38%. Yes, it's for July and Aug, but so far they will renew the promo every month, so Aug-Sep will have another batch.

any idea renew is for existing funds or fresh funds. so means you need to merry go round

 

[addict951]

It is "up to" 2.38%, not a flat 2.38%. Yes, it's for July and Aug, but so far they will renew the promo every month, so Aug-Sep will have another batch.

Eh got say Aug meh??
Cos on the tnc it says 01 July to 31 wor?? No ah?

 

[reflecx]

Eh got say Aug meh??
Cos on the tnc it says 01 July to 31 wor?? No ah?

Banks that refresh their promos monthly (like HSBC) say the same thing, promotion only valid within the month. BUT, the interest earning period is more than that one month. For CIMB, it's 2 months, for HSBC, it could be 3 or 4 months.

 

[sibeiTrolled]

Eh got say Aug meh??
Cos on the tnc it says 01 July to 31 wor?? No ah?

https://www.cimb.com.sg/content/dam...nc/accounts/2026/tncs-casa-bonus-interest.pdf
Archived - https://web.archive.org/web/2026070...nc/accounts/2026/tncs-casa-bonus-interest.pdf

1. This CIMB CASA Bonus Interest/Profit Promotion 2026 (“Promotion”) is available from 1 July 2026 to 31 July 2026 ("Promotion Period"), both dates inclusive.

8A) Bonus Interest/Profit Earning Period
- July and August 2026

For more details, look at 9 Table

 

[tiertime]

https://www.cimb.com.sg/content/dam...nc/accounts/2026/tncs-casa-bonus-interest.pdf

1. This CIMB CASA Bonus Interest/Profit Promotion 2026 (“Promotion”) is available from 1 July 2026 to 31 July 2026 ("Promotion Period"), both dates inclusive.

8A) Bonus Interest/Profit Earning Period
- July and August 2026

For more details, look at 9 Table

Then Is it in order to earn the bonus interest for Aug , we need to ensure the account is empty on 31st July ?