CIMB StarSaver Account
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- Reviews (5)
- Discussions (0)
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Summary
CIMB StarSaver Savings Account Reviews 2024
Account Features & Details
1) Key Features
- Base interest rate of 1.00% p.aÂ
- Earn up to 2.00% p.a interest rate on account balances above S$250,000
- Interest rates accrued daily and will be credited at the end of each month
- No fall below fee charged
- Enjoy instand funds transfer to and from other banks in Singapore via FASTÂ
2) Interest Rates
- Base interest rate: 1.00% p.a
- First S$100,000: 1.00% p.a
- Next S$150,000: 1.50% p.a
- Above S$250,000: 2.00% p.a - Max interest rate: 2.00% p.aÂ
2) Eligibility
- Age: 16 years old and aboveÂ
- Citizenship: Singaporeans, PRs, and Foreigners
- Minimum initial deposit: S$1,000
- Account type: Single and Joint accountÂ
3) Fees
- Minimum average monthly balance: N.A
- Fall below fee: S$0
- Monthly account fee: S$0
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 StarSaver Savings Account Reviews 2024
Account Features & Details
1) Key Features
- Base interest rate of 1.00% p.aÂ
- Earn up to 2.00% p.a interest rate on account balances above S$250,000
- Interest rates accrued daily and will be credited at the end of each month
- No fall below fee charged
- Enjoy instand funds transfer to and from other banks in Singapore via FASTÂ
2) Interest Rates
- Base interest rate: 1.00% p.a
- First S$100,000: 1.00% p.a
- Next S$150,000: 1.50% p.a
- Above S$250,000: 2.00% p.a - Max interest rate: 2.00% p.aÂ
2) Eligibility
- Age: 16 years old and aboveÂ
- Citizenship: Singaporeans, PRs, and Foreigners
- Minimum initial deposit: S$1,000
- Account type: Single and Joint accountÂ
3) Fees
- Minimum average monthly balance: N.A
- Fall below fee: S$0
- Monthly account fee: S$0
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 StarSaver Account
CIMB StarSaver Account
Up to 2% p.a.
INTEREST RATES
$1,000
MIN. INITIAL DEPOSIT
$0
MIN. AVG DAILY BALANCE
3.8
5 Reviews
High to Low
19 Nov 2019
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.0
What are your thoughts?Posted 11 May 2022
Purchased
CIMB StarSaver Account
the website interface is a little outdated. signed up for the fixed deposit promotions some time back.0
What are your thoughts?Posted 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%.0
What are your thoughts?Posted 03 Jul 2024
Purchased
CIMB StarSaver Account
Base interest rate of 1.00% p.a Earn up to 2.00% p.a interest rate on account balances above S$250,000 Interest rates accrued daily and will be credited at the end of each month No fall below fee charged Enjoy instand funds transfer to and from other banks in Singapore via FAST0
What are your thoughts?22 Jun 2020
Purchased
CIMB StarSaver Account
This saving account has a fairly straightforward and hassle free feature for lazy depositor. No fall below fee and interest pf 0.8%/0.9% p.a. is computed on a daily basis based on number of days you keep a minimum of $1,000 in your account. However, due to the general market sentiments and economic downturn during COVID-19, all banks including CIMB have revised their deposit interest downwards. With effect from 1 Jul 2020, the interest rate for this account has fallen to 0.4%/0.45% p.a. for the first $200,000, 0.7%/0.75% p.a. for next $800,000, and 0.4%/0.45% p.a. for all amount above $1,000,000. This downward interest revision although expected, is still alarming as interest return is being shaved by close to half of its initial rate. Nevertheless, the hassle free, no fall below fee feature of this saving account retains its appeal for depositors looking for simple saving mechanism.0
What are your thoughts?
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Interest Rates for CIMB StarSaver Savings Account
Account Balance | Interest Rates per annum |
|---|---|
First S$100,000 | 1.00% p.a. |
Next $150,000 | 1.50% p.a. |
Next $250,000 | 2.00% p.a. |
Above $500,000 | 2.00% p.a. |
Terms and conditions apply. SGD deposits are insured up to S$75k by SDIC.
How does CIMB StarSaver Savings Account work?
- Simply deposit your money in the account your the interest rates will work for you. You can stand to earn up to 2.00% p.a., which is the highest tier of an interest rate for this savings account, for account balances between S$250,000 to S$500,000
- Just ensure that your minimum average daily account balance is at least S$1,000.
Is CIMB StarSaver the Best Savings Account for you in 2022?
Pros
- Attractive first-tier rate of up to 2.00% p.a.
- Easy, fuss-free savings account
Cons
- Under the same conditions of increasing month-end incremental balance, there are better rates offered by other savings accounts.
Want to know how CIMB StarSaver compares with other savings accounts? Here's a compilation of The Best Savings Accounts in 2022
Terms and fees for CIMB StarSaver Savings Account
- Initial deposit: S$1,000
- 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)
- Please note that a $10 fee is chargeable for applying or linking your CiMB ATM card to your CIMB FastSaver or FastSaver-i account.
Eligibility: who can apply for CIMB StarSaver?
- Citizenship status: Singaporeans, PRs and Foreigners
- Minimum age to open an account: 16 years old
How to apply for CIMB StarSaver?
- Apply Online via CIMB StarSaver's website or Visit CIMB branches in Singapore
Terms and Conditions
^Interest accrued daily and credited monthly. Daily interest will be paid on the entire daily balance, provided that the balance is at least S$1,000 in your CIMB StarSaver (Savings) Account on any given day.
1) Initial deposit will be refunded to the originating account in the event deposit application is unsuccessful. Please expect a longer turnaround time in receiving the refund of the initial deposit if initial deposit was not sent using the accepted methods as stated above. If the originating account is not under the CIMB deposit applicant’s name, any request to refund the initial deposit to the applicant’s personal account requires a documentary proof i.e. bank statement. All incidental charges and foreign exchange arising from the refund will be borne by the customer. An indemnity form may be required to be completed by the applicant before any refund can be processed.Â
2) Download our "CIMB Clicks Singapore" Mobile App to set up your Digital Token.
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors, and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme, are insured by the Singapore Deposit Insurance Corporation for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
Contact us at [email protected] should you require any assistance or spot any inaccuracies.
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