Asked by Anonymous
Asked on 17 Jun 2018
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.
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/
I won't say a bond. But rather just another savings account with higher yielding interest.
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.
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.
There's liquidity to CIMB Fast saver - it's more of a bank account than a bond.
Cimb fastsaver is a saving account not a bond. Personally I prefer Singapore Saving Bond.
Top Contributor (Jun)
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.
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
Best savings account with minimum conditions to fulfill, just need $1k to earn 1% interest
It is great for emergency fund saving with high interest of 1% and yet fuss free.
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.