CIMB StarSaver Reviews and Comparison - Seedly
 

CIMB StarSaver

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CIMB StarSaver

0.8% p.a.
INTEREST RATES
$1,000
MINIMUM INITIAL DEPOSIT
$0
MIN. AVE DAILY BALANCE

    CIMB StarSaver

    0.8% p.a.
    INTEREST RATES
    $1,000
    MINIMUM INITIAL DEPOSIT
    $0
    MIN. AVE DAILY BALANCE
Reviews (2)

4.5

2 Reviews

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    1
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bank accounts

accounts segment

segment money

money financial

financial planning

planning budgeting

budgeting purposes

purposes cimb

cimb starsaver

starsaver shariah

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  • I currently have 8 bank accounts to segment my money for financial planning and budgeting purposes. CIMB I-Starsaver is my only shariah-compliant savings account that pays hibah instead of interest. ~50% of my clients are Muslims, so I also wanted to experience what an Islamic savings account is like. The conventional Starsaver pays 0.8%/yr and the I-Starsaver targets this rate of hibah too. I would say that 0.8%/yr is good, considering that you don't have to jump through any hoops (I.e. multiple conditions of salary crediting, spending on credit card, bill payment and insurance / investment). It is straight forward, you can open an account with $1,000, and the accessibility to ATMs make this a good account for your Contingency Buffer, Long Term savings or Opportunity Fund accumulation. One important difference to me between this and Fastsaver, is that this account allows you counter service without any extra charge.
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  • Posted on 19 Sep 2019
    A current account with chequebook. 0.8% for the interest. If chequebook is not required, can consider opening the fastsaver instead which pays 1%.
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How to maximise the interest rate for CIMB StarSaver Savings Account?

Base interest rate(%) p.a.

The base interest rate per annum for CIMB Star Saver savings account is 0.8%

Terms and fees for CIMB StarSaver 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: Free
  • Early closure fee: S$50 if below 6 months
  • Monthly Account Fee: S$1 (Waived if you opt out of paper statements)

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