CIMB FastSaver

CIMB FastSaver

4.7
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More 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%)
CIMB FastSaver

CIMB FastSaver

4.7
Write a review

More 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%)

Ratings Breakdown

4.7
  • 5
    11
  • 4
    4
  • 3
    0
  • 2
    0
  • 1
    0

CIMB FastSaver Reviews

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  • Jeremy Ow
    Jeremy Ow
    Updated on 07 May 2018
    Am using CIMB FastSaver and I like it because 1) No T&C (e.g. Min. monthly spend, charge bills to this account etc) 2) 1% interest on an account meant to keep growing my money (Quite far from the $50k mark so not an issue for now) 3) Fully liquid (Am not penalised for withdrawals) 4) No ATM card also helps me to not touch my money. 5) I could set it up online ,with some mailers (PIN and internet banking token). Pretty convenient 6) No min. balance 7) Allows for FAST transfer so I can move my money from bank to bank real quickly What I don't like: 1) The interface of the cimb internet banking is a little bit unfriendly - But that also helps me want to touch it less as I hate to login to transfer funds.
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  • Aik Kai
    Aik Kai
    Updated on 07 May 2018
    Pros: 1) Easy to open account - all online based 2) Simple and fuss-free. You maintain $1K to get the 1% interest and no other criteria, like salary credit etc 3) Good for storing emergency funds as there is only 1 (or 2) ATM in Singapore so you can't withdraw freely 4) On the FAST network, so you can transfer money out immediately to other banks Cons: 1) Outdated Internet Banking interface.
    Comments (0)
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  • 郭华坤
    郭华坤
    Updated on 07 May 2018
    Shockingly fast in opening the bank a/c. Everything done online inside my bedroom 😴. No minimum balance. 1% pa for idling money is a good deal. With FAST, it is effectively as good as the money is still in my main DBS a/c. Excellent customer service. Called me when I emailed a query over. I missed the call. They bother to even call back again! HSBC would never bother calling again! Lol!
    Comments (0)
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  • Isabella Jo
    Isabella Jo
    Posted on 01 May 2018
    Fuss free, simple and straightforward account. Great alternative account to stash away excess money to earn no-frills interest, which does not require salary crediting or credit card spend. The graphical user interface has rooms for improvement, although basic, as of now it does serve its purpose.
    Comments (0)
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  • Charmaine Ng
    Charmaine Ng
    Posted on 30 Apr 2018
    Love it. Fuss free and quick to get account number online or over the phone. Don't even have to wait for the slow mail to reach your place or go down to any bank branch. 1% interest rates is way above what other banks are providing for basic accounts. I had to deduct 1 star because of the interface. It's too primitive.
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  • Amy Wang
    Amy Wang
    Posted on 18 Mar 2018
    I have this account too and park most of my cash here, as it is straight forward and easy to use. Their credit cards comes w/o annual fee too so that is very attractive for me.
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  • Jordon Chiong
    Jordon Chiong
    Posted on 17 Mar 2018
    I'm really amused by how fast the bank processes one's application. Accounts usually get processed within a day. A minimum of $1000 is required to be deposited into the account in order to earn the 1% interest rate p.a. Great savings account for starters who want to park their money into a competitive interest paying account with no additional strings attached. Only for the first $50,000. Anything above that amount would be pegged to another interest tier. :) However, the internet banking interface is not very user-friendly. Very confusing and hard to navigate. It takes time to get used to the interface. Hope that CIMB would revamp their internet banking interface soon!
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  • Tan Marianne
    Tan Marianne
    Updated on 09 Mar 2018
    Had this account for over a year and never regretted it! Very hassle free and convenient. Opened the account online, didn’t have to mail anything or go to the bank even though I’m not an existing customer. One thing I really like is that there are no fall below fees so I can move my funds around anytime or even leave it empty without getting charged. The downsides are that the 1% is only for the first $50k and there must be minimum $1k to earn interest, but so far that’s not a problem for me.
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  • Png Cheng Xi Damien
    Png Cheng Xi Damien
    Posted on 28 Jan 2018
    Simple and straight-forward: 1% interest if you have at least $1000. Good for those with lower income.
    Comments (0)
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  • Min Han
    Min Han
    Posted on 27 Jan 2018
    Pros: - Simple no frills 1% interest for your first $50k. Not a lot, but better than 0.05%. - No extra conditions needed e.g. salary crediting, credit card expenditure etc except you need min. $1000, making it one of the better options if you don't draw salary. - No fall below fees or lock in period which is great! - Purely online through ibanking which makes it quite simple to settle (don't have to head down to the bank) Cons: - If you really need to go the bank, it's quite inconvenient. - You'll be charged fees if you wish to withdraw over the counter/ATM, (but no fees if doing ibank transfer). - Online interface isn't user-friendly! A little troublesome if you aren't IT savvy and takes a bit of experimenting to learn how to use it. Overall: Good account to use if you don't draw salary or just to park your cash after you've hit the max amount in other salary crediting accounts. Inconvenient online interface to learn, but all you really need to know is how to transfer money out (for me at least).
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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

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