CIMB FastSaver Account Reviews and Comparison - Seedly
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CIMB FastSaver Account

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Savings Accounts/CIMB FastSaver Account
Savings Accounts/CIMB FastSaver Account

CIMB FastSaver Account

4.4
138 reviews
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Savings Accounts/CIMB FastSaver Account

CIMB FastSaver Account

4.4
138 reviews

CIMB FastSaver Account

Up to 1.8% p.a.
INTEREST RATES
$1,000
MIN. INITIAL DEPOSIT
$1,000
MIN. AVG DAILY BALANCE

    CIMB FastSaver Account

    Up to 1.8% p.a.
    INTEREST RATES
    $1,000
    MIN. INITIAL DEPOSIT
    $1,000
    MIN. AVG DAILY BALANCE
Reviews (138)

4.4

138 Reviews

  • 5
    80
  • 4
    38
  • 3
    14
  • 2
    1
  • 1
    1

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hassle free

internet banking

user friendly

salary credit

open account

good account

credit card

minimum balance

transfer money

application process

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  • Lok Yang Teng
    Lok Yang Teng
    Level 8. Wizard
    Updated 2w ago

    Purchased

    CIMB FastSaver Account

    Application process is all online and settled within an hour or so. User interface for ibanking and mobile app could definitely be improved. The downside of using CIMB is that it is not supported by Apple/Samsung Pay/Paynow.
    0 comments
    0
  • S
    steveW
    Level 2. Rookie
    Updated 3w ago

    Purchased

    CIMB FastSaver Account

    deceptive advertising - promoting 1.8% when in reality at the 1.8% deposit requirement the effective rate is less than 1.3% .... also a bug in opening the account online - repeated loop / logout / login for existing customers who already have this account rather than direct to the -i product or provide a meaningful message - sloppy testing. BEWARE it is not 1.8% on totals
    0 comments
    0
  • Wilson Lau
    Wilson Lau
    Level 3. Wonderkid
    Updated 4w ago

    Purchased

    CIMB FastSaver Account

    While fast saver offers one of the highest interest rate in Singapore, the effective interest rate is not 1.8%/annum. It's probably one of the marketing strategy that they used to attract more customers and I felt it's abit misleading for people that wants to get the highest interest rate as possible. For those people that wants to maximise their interest rate with more than 75k and not more than 100k, the effective interest rate is around 1.32% so that's the monthly interest you will get for the highest tier. It's still probably one of the highest currently but that's the rate you are expecting to see rather than 1.8% when you put in fresh funds of over 75k.
    0 comments
    0
  • Joe
    Joe
    Level 5. Genius
    Updated on 24 Feb 2020

    Purchased

    CIMB FastSaver Account

    My go to when i have cash overflow from my DBS Mutiplier account. Fuss free, just leave it here and forget kinda account.
    0 comments
    0
  • Tan Feng Yi
    Tan Feng Yi
    Level 3. Wonderkid
    Updated on 04 Feb 2020

    Purchased

    CIMB FastSaver Account

    The online banking is fuss free! The application process is easy and good. The customer service is friendly.
    0 comments
    0
Questions (22)

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CIMB FastSaver Account

Promo Codes

Savings Accounts

2 answers
Andy Sim
Andy Sim, HR Professional at a Financial Institution
Top Contributor

Top Contributor (Feb)

Level 7. Grand Master
Answered 3w ago
Yep like what Geraldo mentioned, feel free to reach out to me via Facebook for my info :)
👍 0

Savings

CIMB

Promo Codes

CIMB FastSaver Account

Savings Accounts

1 answer
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.
👍 1

Robo-Advisors

STI ETF

Smartly

Investments

CIMB FastSaver Account

3 answers
Frankie Aufhauser-Rappaport
Frankie Aufhauser-Rappaport
Top Contributor

Top Contributor (Feb)

Level 8. Wizard
Updated on 16 Feb 2020
Yes, congratulations. The STI lagged f.ex. the U.S. S&P 500 (U.S. market = leading market in the world) importantly, you may consider to diversify Your equity allocation to more countries, particularly the U.S., or how about an MSCI World ETF (f.ex. large & cheap ticker: VT)? See STI versus SP500 10 year performance: ! More on my thinking here (though some strategies risky, so think for yourself ...): https://seedly.sg/questions/what-is-your-general-investing-philosophy-strategy
Answer image preview
👍 0

Savings

Seedly

CIMB FastSaver Account

Savings Accounts

4 answers
JO
Joanne Ong
Level 4. Prodigy
Answered on 11 Dec 2019
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/
👍 1

Savings

OCBC

CIMB

CIMB FastSaver Account

OCBC 360 Account

Savings Accounts

3 answers
Elijah Lee
Elijah Lee, Independent Financial Advisor at Phillip Securities (Jurong East)
Top Contributor

Top Contributor (Feb)

Level 10. Unicorn
Answered on 27 Nov 2019
Hi Anon, When you log in to your OCBC internet banking and go to your account details, you'll see a "Average daily balance increase vs. last month". As long as this amount is at least $500, you will get the step up bonus. So time your transaction from OCBC to CIMB carefully. To be safe, aim to increase your OCBC balance by around $600 a month, as I've found out the hard way that trying to increase it by exactly $500 is almost impossible; the problem lies with the fact that OCBC calculates average daily balance and reports the number to you, I can never find a way to get the number I see. Hence i figured I'll just increase my balance by at least $600 a month to avoid the problem.
👍 2

Singapore Saving Bonds (SSB)

Savings

Family

CIMB FastSaver Account

1 answer
Kelly Trinh
Kelly Trinh, Backoffice technical at financial services firm
Level 8. Wizard
Answered on 01 Nov 2019
SSB I think too much admin as you would need to do monthly purchase. For Maxigain - it does have a min. of 70k for the bonus interest (which you highlighted but still leaning?), so I would actually think CIMB is better You might find the article below helpful as a broader comparison as well: https://blog.seedly.sg/best-savings-accounts-singapore
👍 0

Savings

Standard Chartered

CIMB FastSaver Account

Savings Accounts

1 answer
Kenneth Lou
Kenneth Lou, Co-founder at Seedly
Level 9. God of Wisdom
Answered on 31 Oct 2019
This is pretty simple to answer! If you are under 27 years old, and have less than $20k, then yes SCB Jumpstart is for you. I personally use it for my reserve account to save up for my home rennovation with my other half. If you are above 27 years old, then no-brainer, the CIMB FastSaver is best for you!
👍 4

CIMB FastSaver Account

1 answer
Ernest Yeam Wee Leong
Ernest Yeam Wee Leong
Level 6. Master
Answered on 09 Oct 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. You are welcome to email me [email protected] and I can share my details
👍 1

Savings

CIMB FastSaver Account

Savings Accounts

3 answers
Junus Eu
Junus Eu
Level 9. God of Wisdom
Answered on 23 Jul 2019
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.
👍 4

CIMB

General

CIMB FastSaver Account

1 answer
Gabriel Tham
Gabriel Tham, Tag Team Member at Kenichi Tag Team
Top Contributor

Top Contributor (Feb)

Level 9. God of Wisdom
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
👍 0
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How to maximise the interest rate for CIMB FastSaver Savings Account?

Base interest rate(%) p.a.

The base interest per annum for the CIMB FastSaver Savings Account is 1% for the first S$50,000 in Balances.

Additional Interest Rate Tiers (%) p.a.

1.50% p.a. from above S$50,000 to S$75,000 in Balances.

1.80% p.a. from above S$75,000 to S$100,000 in Balances.

The interest rate is reduced to 0.6% for Account Balances above S$100,000.

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)