CIMB FastSaver Reviews and Comparison - Seedly
Reviews (112)
4.4
Reviews (112)
4.4
  • 5
    67
  • 4
    31
  • 3
    12
  • 2
    1
  • 1
    1

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  • Updated on 10 Jul 2018
    The best hassle free savings account. With rate of 1% up to $50,000, above $50,000 will be 0.60% which is still pretty attractive. Pros: 1. Signing up for the account is hassle free. Everything is done online; even signature. 2. Initial deposit of $1000 is not that high and reachable amount for many. 3. No minimum balance is needed. No fall below fee. 4. Old but yet easy to use interface. 5. No atm card issued. But can be applied for $10. Helps people not to touch their account. 6. $5 per counter withdrawn. Helps people not to touch their account. Cons: 1. People and are not tech savvy may not appreciate online applications as they may deemed not secured. 2. No atm card issued. People may find it a hassle. 3. Old interface. People may not like it compared to interface like DBS/OCBC. Ultimately, CIMB fastsaver is a worth it to put in.
    0 comments
    4
  • Updated on 05 Oct 2018
    One star purely for their digital services and customer service. Their website and app are terrible. Really outdated interface that usually just doesn't work and have to try later in the day. Most recently, I tried logging into internet banking, and the site doesn't recognise the OTP from their own security device. Customer service hotline shuttled me around to different people, before someone told me in the middle of our call that they are experiencing high call volume and someone will have to call me back... Take your money to a bigger name bank and save yourself the hassle.
    0 comments
    3
  • Updated on 10 Jul 2018
    Pros: (1) Hassle free to get 1% with no T&C Cons: (1) Online banking is not as user friendly as other local website
    0 comments
    3
  • Updated on 10 Jul 2018
    Hassle-free to park your excess funds! Convenience is key and you don't have to fulfil any criteria. Worth a try!
    0 comments
    3
  • Updated on 10 Jul 2018
    It is a good account for those who want to deposit excess cash without having to fulfill monthly commitments. Not as applicable for young adults who are probably able to maximize their interest in other programmes.
    0 comments
    3
  • Updated on 13 Jun 2019
    Decent interest of 1.0% p.a. and pretty no brainer account but I'm letting go to move to HL Finance Fixed Savings Account to earn the 1.65% p.a. just by doing a monthly GIRO amount.
    1 comment
    2
    Bao Ren Kho
    Bao Ren Kho

    29 Apr 2019

    How's HL rate? is it good?
  • Updated on 23 Sep 2018
    Good for someone without income. No requirements to fulfil, and no fall below fees. Much better than a normal savings account!
    0 comments
    2
  • Good savings account with no strings attached. No need to pay bills or credit salary to get the 1% interest.
    0 comments
    2
Questions (16)

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Savings

Bank Account

CIMB FastSaver

Junus Eu
Junus Eu
Level 8. Wizard
Answered 4w ago
CIMB Fastsaver FTW - because of the straight up 1% with no conditions whatsoever! Another no-frills one is the Citibank Maxigain, but for that I believe the minumum amount was $100k or so.

Savings

Bank Account

CIMB FastSaver

CIMB

Promotional Codes

JD
John Doe
Level 2. Rookie
Updated on 22 Jul 2019
Https://www.cimbbank.com.sg/en/personal/news-and-promotions/promotions/accounts/cimb-fastsaver-referral-programme.html From this link you can get 20$ referral bonus. Pls pm and I can share my name and NRIC if you are sure about opening up bank account.

CIMB FastSaver

CIMB

General

Gabriel Tham
Gabriel Tham, Tag Team Member at Kenichi Tag Team
Level 8. Wizard
Answered on 14 Jun 2019
You have to check with the bank directly for this...I believe you can create seperate logins but double confirm with them

Savings

Investments

Credit Card

Bank Account

CIMB

CIMB FastSaver

Tan Wei Ming
Tan Wei Ming
Level 5. Genius
Updated on 07 Jun 2019
One of the best savings account in Singapore! No worries your savings in CIMB is definitely safe because of Singapore Deposit Insurance Scheme. I can't think of any cons except the limited ATMS. What I will do is transferring money from CIMB to OCBC and withdraw from OCBC ATMs. There is no fall below fee for CIMB FastSaver. However, you do not get any interest for the day if the savings for that day is less than $1000.

Savings

Bank Account

CIMB FastSaver

OCBC 360

Personally I use CIMB as it is hassle free.

Savings

CIMB FastSaver

CIMB

Tan Wei Ming
Tan Wei Ming
Level 5. Genius
Answered on 18 May 2019
Know the changes but doesn't impact me because I do not have more than $50k with them. Even if I have $50k, I won't park it in a bank as I can invest for better returns.

CIMB FastSaver

CIMB

Insurance

Investments

Junus Eu
Junus Eu
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.

Fixed Deposits

CIMB FastSaver

Savings

Hi anonymous, thanks for your question and sorry for the late reply. I will not repeat the answers given by other members below as they have done a great job. I would only like to add that if you qualify for higher interest accounts such as DBS Multiplier, OUB One or OCBC 360, these accounts give you a higher interest than the accounts you mentioned (say 3.5% p.a.). So you may want to explore them. Have a blessed weekend!

CIMB FastSaver

CIMB

Lok Yang Teng
Lok Yang Teng
Level 6. Master
Answered on 11 Dec 2018
Step 1: Visit any of the CIMB branchs or complete the application form and submit it . Download the CIMB Clicks Internet Banking Service Request Form . Complete the form and mail it back. Step 2: You will receive a CIMB Clicks Activation Code via mail and your chosen Two-Factor Authentication (2FA) via SMS (for SMS-OTP) and/or via mail (for Security Device). The Activation Code and SMS will be sent to you within 5 business days upon our receipt of your application. If you chose the Security Device as your mode of 2FA, it will be mailed to you 3 business days after the mailing of your CIMB Clicks Activation Code. Step 3: After you receive your CIMB Clicks Activation Code, you may perform your First Time Login on CIMB Clicks Internet Banking . You will then be able to create your very own CIMB Clicks ID and password.

Savings

Singapore Saving Bonds (SSB)

STI ETF

CIMB FastSaver

CIMB

You divide based on your 1. Family Plan 2. Asset purchase Plan 3. Retirements Plan Not short changing the reply here but is good to think thru point 1 to point 3 to commit ur investment tt benefits u and not go against u. Hope my reply helps. If you feel this reply have Quality, please upvote and check other Quality Reply. https://seedly.sg/profile/a-kenichi-xi Thank you.
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About CIMB FastSaver
Min Rate0.6%
Max Rate1%
Min Initial Deposit$1,000
Interest TiersBased on account balance (first $50k at 1%, above $50k at 0.6%)

How to maximise the interest rate for CIMB FastSaver Savings Account?

Base interest rate(%) p.a.

The base interest rate per annum for CIMB FastSaver savings account is 1% for the first S$50,000 in the account.

The interest rate is reduced to 0.6% for account balance above S$50,000.

Terms and fees for CIMB FastSaver Savings Account

  • Initial deposit: S$1,000
  • Citizenship status: Singaporeans, PRs and foreigners
  • Minimum age to open account: 16
  • Minimum Average Daily Balance: S$1,000
  • Fall below fee: None
  • Early closure fee: S$50 if below 6 months

For more information, you can check out their website here and their FAQ here.

Contact Info

Phone Number: +65 6333 7777 (Mon - Sun, 9am - 9pm)