CIMB FastSaver Account
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- Reviews (206)
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Summary
CIMB FastSaver Savings Account Review 2024
The CIMB FastSaver is an online savings account that has no multiple conditions. You don't need to clock any credit card spend, credit your salary, purchase an investment or insurance products, and there are no monthly fees!
Account Features & Details
1) Key Features
- Enjoy competitive interest rate of 1.10% p.a on your first S$10,000 with no extra requirements
- Earn up to 3.80% p.a interest on your first S$10,000 when you apply for CIMB FasterSaver account, CIMB Visa Signature card, and CIMB Investment/Insurance products
- Fast application process with account activation on the same day
2) Interest Rates
- Base interest rate: 0.05% p.a
- Max interest rate: 3.80% p.a
3) Eligibility
- Age: 16 years old and above
- Citizenship: Singaporeans, PRs, and Foreigners
- Minimum initial depost: S$1,000
- Account type: Individual & Joint account available
4) Fees
- Minimum average account balance: S$1,000
- Fall below fee: S$0
- Early account closure fee: S$50 (for account closure within 6 months)
- Monthly service fee: S$0
- S$10 chargeable for applying or linking CIMB ATIM card to CIMB FastSaver account
5) Application Process
How to apply?
- For new CIMB customers, apply for the account here
- For existing CIMB customers, apply for the account via CIMB Clicks under e-Application
Supporting documents
- Singaporeans and PRs
- Copy of NRIC
- Document stating proof of residential address (e.g latest bank statement, telco bills, or government-issued correspondence) - Foreigners
- Passport
- Document stating proof of residential address (e.g latest bank statement, telco bills, or government-issued correspondence)
- Other supporting documents (e.g Employment Pass, Work Pass, S Pass, Student Pass)
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Summary
CIMB FastSaver Savings Account Review 2024
The CIMB FastSaver is an online savings account that has no multiple conditions. You don't need to clock any credit card spend, credit your salary, purchase an investment or insurance products, and there are no monthly fees!
Account Features & Details
1) Key Features
- Enjoy competitive interest rate of 1.10% p.a on your first S$10,000 with no extra requirements
- Earn up to 3.80% p.a interest on your first S$10,000 when you apply for CIMB FasterSaver account, CIMB Visa Signature card, and CIMB Investment/Insurance products
- Fast application process with account activation on the same day
2) Interest Rates
- Base interest rate: 0.05% p.a
- Max interest rate: 3.80% p.a
3) Eligibility
- Age: 16 years old and above
- Citizenship: Singaporeans, PRs, and Foreigners
- Minimum initial depost: S$1,000
- Account type: Individual & Joint account available
4) Fees
- Minimum average account balance: S$1,000
- Fall below fee: S$0
- Early account closure fee: S$50 (for account closure within 6 months)
- Monthly service fee: S$0
- S$10 chargeable for applying or linking CIMB ATIM card to CIMB FastSaver account
5) Application Process
How to apply?
- For new CIMB customers, apply for the account here
- For existing CIMB customers, apply for the account via CIMB Clicks under e-Application
Supporting documents
- Singaporeans and PRs
- Copy of NRIC
- Document stating proof of residential address (e.g latest bank statement, telco bills, or government-issued correspondence) - Foreigners
- Passport
- Document stating proof of residential address (e.g latest bank statement, telco bills, or government-issued correspondence)
- Other supporting documents (e.g Employment Pass, Work Pass, S Pass, Student Pass)
CIMB FastSaver Account
CIMB FastSaver Account
Up to 2.20% interest p.a.
INTEREST RATES
$1,000
MIN. INITIAL DEPOSIT
$1,000
MIN. AVG DAILY BALANCE
4.3
206 Reviews
Service Rating
Customer Support
Ease of online banking
High to Low
Posted 10d ago
Purchased
CIMB FastSaver Account
Peronally I think this account is fuss-free and good. The only drawback is there is only one physical store. But you can always do the online transactions easily. They don't charge for low account balance or something so this is good. Recently they have the top up bonus and then I think it's not bad. 3.3% up to Jan 2025. Nowadays hard to find such high interest rate already.0
What are your thoughts?Posted 06 Sep 2024
Purchased
CIMB FastSaver Account
Ease of account opening, one of the highest rate in town and not to mention that credit cards are perpetual annual fee waive0
What are your thoughts?Posted 03 Sep 2023
Purchased
CIMB FastSaver Account
This is a basic savings account. It is pretty fuss free and dont need to fulfill multiple conditions to get the savings tier interest rate. The base interest rate of 1.5% is not bad, the more money you have, the higher the interest tier, up to 100K.0
What are your thoughts?Posted 13 Feb 2023
Purchased
CIMB FastSaver Account
[Interest] Interest is at 1.5% PA for first $20,000 as long as you have $1,000 in your balance. [Application Process] It was very fast and fuss free via SingPass, filled up information such as employment details & what I was using the account for. The next day, I got the key to register my CIMB Clicks account & was able to access the funds. [Online Banking] The app banking was very easy to use but the web banking was very outdated and ugly compared to other web iBanking.0
What are your thoughts?Posted 10 Sep 2022
Purchased
CIMB FastSaver Account
[Fuss Free] Very easy to open online. Not much hassle at all. [Interest] Interest rates are relatively higher for the no-frills tier. I put any remaining money I have after the 10k for Singlife.0
What are your thoughts?Posted 07 Apr 2022
Opened the FastSaver-i account because I wanted a Shariah-compliant account. $1k minimum and no fall below fee. [Application Process] The online application was a breeze. [Online Banking] Is okay. Easy to use once you get used to it.0
What are your thoughts?Posted 02 Jan 2022
Purchased
CIMB FastSaver Account
I use CIMB to hide my money from my spouse. Very good. Would be even better if can make it easier for Singaporean to have a SG / MY account with just one sign up and make easy cross currency exchange so I can withdraw Malaysian dollars while shopping in JB/KL easily without having to find money changer.0
What are your thoughts?Posted 29 Aug 2021
Purchased
CIMB FastSaver Account
Moving the money to and fro this account is a bit harder as there are not many ATMs for CIMB in Singapore, but this also means that money in this account would be less likely to be touched and helps in saving! Also fuss-free interest rate with no conditions, making this one of the easiest saving accounts for people that do not spend a lot0
What are your thoughts?01 Feb 2021
Purchased
CIMB FastSaver Account
[Application Process] Easy application process through online [Fuss Free] Fuss free account, best savings account to keep money for emergency expenses. [Others] They also offer easy money sending service to Malaysia at decent exchange rate, can be done easily online anytime.0
What are your thoughts?14 Oct 2020
Purchased
CIMB FastSaver Account
[Interest] I opened this account almost 2 years ago and it has given me really decent interest compared to other banks. Everything was all well and good until Covid-19 happens so they have decreased their interest rates. [Fuss Free] If you want fuss-free savings account without all the requirements etc, then this account is for you.0
What are your thoughts?
Discussions (0)
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Newest Interest Rates for CIMB FastSaver
Account Balance | First S$10,000 | Next S$15,000 | Next S$25,000 | Above S$75,000 |
|---|---|---|---|---|
Prevailing Rates (p.a.) | 1.10% | 1.10% | 1.50 to 2.00% | 0.80% |
How Does CIMB FastSaver Work?
Base Interest Rate: 1.10% p.a. for the first $10,000 in your account
Maximum Interest Rate: 0.80% p.a. for account balances from S$75,000
CIMB FastSaver is a fuss-free savings account which doesn't need you to credit your salary, spend any amount with credit cards, or even buy any insurance or investment products.
If you wish to earn more interest, just increase your account balance and meet the next qualifying tier to get more interest.
It's that simple.
The interest in your CIMB FastSaver account is accrued daily and credited monthly. Daily interest will be paid on the entire daily balance, provided that you have at least S$1,000 in your account balance on any given day.
Pros of CIMB FastSaver
- Simple and straightforward savings account making it suitable for those looking for a fuss-free, park-and-save option
- No fall below fee, although interests will only apply to accounts with at least S$1,000
- Does not require regular depositing of funds
Cons of CIMB FastSaver
- Does not incentivise spending so if you intend to maximise your monthly expenses then you might wanna look elsewhere
Want to know how CIMB FastSaver stacks up against other savings accounts? Here's a look at The Best Savings Accounts in 2022!
Terms and Fees for CIMB FastSaver Savings Account
- Initial deposit: S$1,000
- Minimum amount to earn interest: $1,000
- Fall below fee: None
- Early closure fee: S$50 if closed less than 6 months
- Monthly Account Fee: None
- Counter Transaction: $5
- ATM Card and/or linking of account of existing ATM Card: S$10 per new ATM Card or for linking of account to existing ATM Card
Eligibility: Who Can Apply for a CIMB FastSaver Account?
- Citizenship status: Singaporeans, PRs and foreigners
- Minimum age requirement: 16 years old
How to Apply for CIMB FastSaver?
- Apply Online via the 'Visit Site' button above or
- Visit any CIMB branches to apply in person
You'll need to bring along:
For Singaporeans/PRs and Malaysians Residing In Singapore
1. Copy of NRIC/Passport
2. Proof of residential address if the residential address in the application differs from the ID document (e.g. any latest telephone bill, bank statement or letter issued by the government)
For Foreigners
1. Passport
2. Proof of residential address (e.g. any latest telephone bill, bank statement or letter issued by the government)
3. Supporting documents to be provided (Employment Pass, Work Permit, Dependant’s Pass and Student Pass)
Contact us at [email protected] should you require any assistance or spot any inaccuracies.
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