CIMB FastSaver

CIMB FastSaver

4.4
(101)
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Ratings Breakdown (101)

4.4
  • 5
    60
  • 4
    29
  • 3
    11
  • 2
    0
  • 1
    1
Min Rate0.6%
Max Rate1%
Min Initial Deposit$1,000
Interest TiersBased on account balance (first $50k at 1%, above $50k at 0.6%)
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Reviews (101)
Q&A (13)
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  • Sodt Derek
    2 Reviews, 2 Upvotes
    Reviewed on 20 Oct 2018
    I just this account for a simple but yet higher interest of 1% p.a (compare with other bank accounts out there) joined account with my fiancée. No complicated terms and condition. You can create a standing order on POSB/DBS to auto credit a certain amount into the CIMB account.
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  • tb
    1 Reviews, 4 Upvotes
    Reviewed 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 Really outdated interface that usually just doesn't work and have to try later in the day.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.
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  • Yong Kah Hwee
    8 Reviews, 520 Upvotes
    Reviewed 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!
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  • Nicholas Chan
    2 Reviews, 261 Upvotes
    Reviewed on 16 Sep 2018
    I used it previously. Was good when interest rates were low, now 1% is not really competitive with rates rising...
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  • Gabriel Lee
    11 Reviews, 519 Upvotes
    Reviewed on 01 Sep 2018
    Best savings account for extra cash, 1% interest with no requirements like salary credit or minimum spending. Applying for the account can be easily done online, just need 1 working day for account activation after transfering initial deposit of $1k. However, iBanking interface and app needs some improvement
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  • Tan Ying Quan
    3 Reviews, 3 Upvotes
    Reviewed on 21 Jul 2018
    *My review is specific to its joint account application process. Overall, the process was intuitive, user friendly, and sleek! Took less then 15mins to setup my joint account :)
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  • Alethea Loh
    2 Reviews, 2 Upvotes
    Reviewed on 11 Jul 2018
    Great interest rate for a savings accounts! Fuss-free, simply & easy to open online within 10 minutes. Highly recommended for users who do not wish to lock in the funds for a period of time with higher interest as compared to other savings accounts!
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  • Ck Chai
    2 Reviews, 97 Upvotes
    Reviewed on 11 Jul 2018
    Fuss free account which can be opened online. 1% interest with no strings attached. The limited nos of branches / ATM make it not as accessible as the local banks but in a way is better for saving coz withdrawing is inconvenient as long as you chunk aside your ib device.
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  • Wendy Lee
    1 Reviews, 2 Upvotes
    Reviewed on 10 Jul 2018
    Great accounts and fuss free applying, simply apply online with just a click away. 1% p.a. interest for first dollar up to S$50,000, as long as a minimum S$1000 is maintained in the CIMB FastSaver account on any given day. For remaining balance above S$50,000, an interest rate of 0.6% p.a. shall apply.
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  • Gerry Stinson Lim
    2 Reviews, 3 Upvotes
    Reviewed on 10 Jul 2018
    It's a great account, fuss-free and simple to understand! I like that it's easy to set up an account too.The process could be better improved in the sense that they could pre-empt questions and set pop-up answer boxes along the way so we could fill up the form more easily.
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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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