How do you guys find CIMB FastSaver (like this if you agree that it is just like a one day bond of 1% annual interest)? - Seedly

CIMB FastSaver

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Asked by Anonymous

Asked on 17 Jun 2018

How do you guys find CIMB FastSaver (like this if you agree that it is just like a one day bond of 1% annual interest)?

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Answers (14)

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Junus Eu
Junus Eu
Top Contributor

Top Contributor (Aug)

Level 8. Wizard
Answered on 04 Apr 2019

Quite fuss-free as it has no conditions such as salary creditting and minimum spending attached to it! What I do is to use CIMB Fastsaver for the remaining money, after using other higher i/r accounts like Citi MaxiGain and Standard Charted Bonus Saver accounts.

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Yong Kah Hwee
Yong Kah Hwee
Top Contributor

Top Contributor (Feb)

Level 6. Master
Answered on 15 Sep 2018

It's a savings account, not a bond. If you have moeny to spare, you might want to consider putting them into Singapore Savings Bond or Fixed Deposits. They offer returns higher than 1% :)

You can check out this article written by Seedly: https://blog.seedly.sg/guide-investing-singapore-savings-bond-ssb-interest-rate-how-to-buy/

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Jay Liu
Jay Liu
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Top Contributor (Sep)

Level 6. Master
Answered on 15 Sep 2018

I won't say a bond. But rather just another savings account with higher yielding interest.

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Mujimoro
Mujimoro

()

Level 4. Prodigy
Answered on 13 Jun 2019

Pros:

  • can apply purely online, fuss free and convenient
  • modest interest rate without having to jump through hoops ... there’s really no catch!
  • totally liquid.. set up FAST transfer to your other banks for instantaneous transfer in/out
  • no fees!

Cons:

  • ibanking web interface is crap!
  • their mobile app is even crapper, difficult to use and clumsy..but you will get the hang of it :)

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CIMB FastSaver is a convenience 1% interest per annum Saving account for the first $50k.

Any excess amount will receive 0.6% interest per annum.

$50k will be protected by SDIC.

IS really a personal peferences whether you wanna have some flexibility in getting ur cash by bank transfer or you prefer to break SSB or FD to have excess to your cash.

If we use an apple to apple comparison, a 0.05% saving account is to much more inferior compare to a 1% or 0.6% interest rate saving account.

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Teresa Wu
Teresa Wu

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Level 3. Wonderkid
Answered on 15 Sep 2018

Good account to consider for joint account holders to save money without conditions! That being said, 1% interest is rather low and there are very few atm machines for you to draw cash. Their internet banking website is not as user friendly as other banks as well.

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JianHao Soo
JianHao Soo

()

Level 4. Prodigy
Answered on 15 Sep 2018

There's liquidity to CIMB Fast saver - it's more of a bank account than a bond.

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Good Day Every Day
Good Day Every Day
Top Contributor

Top Contributor (Nov)

Level 6. Master
Answered on 15 Sep 2018

Cimb fastsaver is a saving account not a bond. Personally I prefer Singapore Saving Bond.

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A high intest saving account and if you invest in Sept with min 10k their anniversary month, it is 1.84% p.a for min 10k. No extra conditions. Good for self employed or even students.

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It is very different from a bond but i would recommend getting this if you just want to park money away earning a bit higher interest

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Gabriel Lee
Gabriel Lee
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Top Contributor (Dec)

Level 6. Master
Answered on 24 Jul 2018

Best savings account with minimum conditions to fulfill, just need $1k to earn 1% interest

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Ck Chai
Ck Chai

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Level 4. Prodigy
Answered on 23 Jul 2018

It is great for emergency fund saving with high interest of 1% and yet fuss free.

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Isabella Jo
Isabella Jo

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Level 4. Prodigy
Answered on 21 Jul 2018

Great for emergency fund up to S$50k (with minimal balance of S$1k to get the interest). 1% per annum fuss free account with flexibility to withdraw.

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Gabriel Tham
Gabriel Tham
Top Contributor

Top Contributor (Aug)

Level 8. Wizard
Answered on 25 Jun 2018

The best no frills saving account with high interest

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