11 Dec 2019
I have $100k and plan to put into CIMB FastSaver Acc which gives 1.80% P.A.?
From seedly saving calculator, when I input $100k in the Bank Balance fill, it only generate as $1,330(1.33%). Correct me if I'm wrong, Shouldn't it be $1,800?
1.8% interest only applies to the 75k to 100k segment.
However if you want to get 1.8% pa interest, you may want to sign up for elastiq by etiqa only if you are absolutely sure that you do not need this sum of money in the next 3 months. Reason being you only can withdraw on day 91.
You may refer to the link for now details https://www.tiq.com.sg/product/universal-life-insurance-elastiq/
Hi sir, you are wrong while seedly saving calculator is correct. CIMB Fastsaver does not give you 1.80% for all your 100K, it only gives you 1.8% for the tier 75K-100K. Good thing it is flexible unlike fixed deposit. If you want flexible savings rate, do consider Maybank iSavvy / iSavvyi or SCB Esaver, but do take note you have to change location every few months. If you are lazy, HL iSavings and RHB High Yield has similar tiered interest rates while CIMB and ICBC offer good fixed deposit rates for short and long term if you want your cash locked.
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CIMB FastSaver Account
Up to 0.9% p.a.
MIN. INITIAL DEPOSIT
MIN. AVG DAILY BALANCE
Standard Chartered JumpStart Account
DBS Multiplier Account