If you’re looking for a high-interest savings account in Singapore, CIMB FastSaver is an option to consider. This online savings account offers competitive interest rates with no multiple conditions to meet, making it a straightforward choice for those who want to earn more on their savings.
With CIMB FastSaver, you can earn up to 0.80% p.a. on your savings, with interest accrued daily and credited monthly. To enjoy this rate, you only need to maintain a minimum balance of S$1,000 in your account on any given day. The account is also fee-free, which means you won’t have to worry about monthly maintenance fees eating into your interest earnings.
Overall, CIMB FastSaver is a good option for those who want a no-frills savings account that offers competitive interest rates. It’s easy to apply for and manage online, and there are no multiple conditions to meet to enjoy the high-interest rates. If you’re looking to grow your savings faster, CIMB FastSaver is definitely worth considering.
Key Takeaways
- CIMB FastSaver is an online savings account that offers high-interest rates with no multiple conditions to meet.
- You can earn up to 0.80% p.a. on your savings with interest accrued daily and credited monthly.
- The account is fee-free and easy to apply for and manage online.
Understanding CIMB FastSaver Account
If you are looking for a savings account that offers competitive interest rates, then CIMB FastSaver Account is worth considering. This online savings account allows you to earn interest on your savings with no minimum balance requirement.
CIMB FastSaver Features
CIMB FastSaver Account is an online savings account that offers a range of features to help you manage your savings. Some of the key features of the account include:
- No minimum balance requirement: You can open a CIMB FastSaver Account with as little as $1 and there is no minimum balance requirement.
- No monthly fees: There are no monthly fees associated with the account.
- Easy access to your funds: You can access your funds anytime, anywhere through CIMB Clicks Internet Banking or the CIMB Clicks mobile app.
Interest Rates Explained
CIMB FastSaver Account offers an interest rate of up to 1.50% p.a. on your savings. The interest rate is calculated daily and credited to your account at the end of each month. To earn the base interest rate, you need to maintain a minimum balance of $1,000 in your account.
In addition to the base interest rate, CIMB FastSaver Account also offers bonus interest of up to 2.00% p.a. To qualify for the bonus interest, you need to meet certain criteria such as depositing a minimum amount into your account each month.
Shariah-Compliant Savings
CIMB FastSaver-i Account is a Shariah-compliant savings account that is designed for Muslim customers who prefer to save in accordance with Shariah principles. It offers the same features as the CIMB FastSaver Account but with a different interest calculation method that complies with Shariah principles.
In conclusion, CIMB FastSaver Account is a great option if you are looking for a savings account that offers competitive interest rates and no minimum balance requirement. With easy access to your funds and no monthly fees, it is a convenient and hassle-free way to save. Plus, if you prefer to save in accordance with Shariah principles, CIMB FastSaver-i Account is a good option to consider.
Getting Started with CIMB FastSaver
If you’re looking for a high-interest savings account that’s easy to use, CIMB FastSaver might be the perfect option for you. Here’s what you need to know to get started.
Eligibility and Requirements
To open a CIMB FastSaver account, you must be a Singaporean citizen or permanent resident, or a foreigner with a valid employment pass. You must also be at least 16 years old and have a valid Singapore mobile number and email address.
Applying Online
Applying for a CIMB FastSaver account is easy and can be done entirely online. Simply fill out the online application form and submit your supporting documents, which include your NRIC or passport and a recent billing statement or bank statement with your name and address.
Initial Deposit and Fees
The minimum initial deposit for a CIMB FastSaver account is $1,000. There are no fall-below fees, so you won’t have to worry about maintaining a minimum balance. However, if your account balance falls below $1,000, your interest rate will drop to 0.3% p.a.
There are also no fees for account opening, account closure, or monthly maintenance. However, you may be charged fees for certain transactions, such as overseas ATM withdrawals or cash deposits at non-CIMB ATMs.
In conclusion, CIMB FastSaver is a great option for those looking for a simple and straightforward high-interest savings account. With no fall-below fees and easy online application, it’s a convenient way to grow your savings.
CIMB FastSaver Account Management
Managing your CIMB FastSaver account is easy and convenient with CIMB Clicks internet banking. Here are some important things you need to know about managing your account.
Using CIMB Clicks Internet Banking
CIMB Clicks internet banking is a secure and convenient way to manage your CIMB FastSaver account. You can check your account balance, view your transaction history, and make transfers to other accounts online. To access CIMB Clicks, you need to have a CIMB FastSaver account and register for online banking.
Once you have registered for CIMB Clicks, you can log in and manage your account from anywhere, anytime. You can also set up alerts to notify you of any account activity, such as when your account balance falls below a certain level.
Understanding Account Charges
Managing your CIMB FastSaver account is free of charge. There are no monthly maintenance fees, and you can make unlimited deposits and withdrawals without any charges. However, there are some charges that you should be aware of, such as counter transaction fees and foreign currency exchange fees. You can find a full list of charges on the CIMB Singapore website.
Interest Payout and Statements
Your CIMB FastSaver account earns daily interest, which is credited to your account at the end of each month. To ensure you receive your interest payments, make sure you maintain a minimum balance of S$1,000 in your account. You can choose to receive your statements either in paper or e-statement format.
In conclusion, managing your CIMB FastSaver account is easy and convenient with CIMB Clicks internet banking. With no monthly maintenance fees and unlimited deposits and withdrawals, it’s a great way to save money and earn competitive interest rates.
Additional CIMB FastSaver Benefits
As a CIMB FastSaver account holder, you have access to a range of additional benefits that can help you make the most of your savings.
CIMB Visa Signature Card
One of the most popular benefits available to CIMB FastSaver account holders is the CIMB Visa Signature Card. This credit card offers a range of rewards and benefits, including cashback on dining, groceries, and petrol purchases, as well as discounts on travel and shopping.
By using your CIMB Visa Signature Card in conjunction with your FastSaver account, you can earn even higher interest rates on your savings. To qualify for these bonus rates, you’ll need to make a minimum spend of $300 per month on your card.
Investment and Insurance Options
In addition to the CIMB Visa Signature Card, CIMB offers a range of investment and insurance products that can help you grow your wealth and protect your assets.
If you’re looking to invest your savings, CIMB offers a range of investment products, including unit trusts, structured deposits, and equity-linked notes. These products offer varying levels of risk and return, so it’s important to do your research and choose the option that’s right for you.
If you’re looking to protect your assets and plan for your retirement, CIMB also offers a range of insurance products and supplementary retirement schemes. These products can help you build a more secure financial future for yourself and your loved ones.
Overall, the additional benefits available to CIMB FastSaver account holders make this savings account an attractive option for anyone looking to grow their wealth and make the most of their money. With competitive interest rates, a range of rewards and benefits, and access to a range of investment and insurance products, CIMB FastSaver is a great choice for anyone looking to take control of their financial future.
Support and Assistance
If you have any questions or concerns about your CIMB FastSaver account, there are several channels available to assist you.
Customer Service Channels
CIMB offers a variety of customer service channels to help you with any questions or issues you may have. You can contact their customer service team via phone, email, or request a call back.
If you prefer to speak to an expert, CIMB At-Your-Service is available to assist you. They can answer your questions and provide you with the support you need.
Branch Support and Expert Advice
CIMB has branches located throughout Singapore, where you can receive expert advice and support in-person. Their branches offer a range of services, including account opening, deposit and withdrawal, and general banking inquiries.
If you need assistance with your CIMB FastSaver account, you can visit your nearest branch for expert advice and support.
Overall, CIMB offers excellent support and assistance to their customers. Whether you prefer to speak to an expert in-person or over the phone, CIMB has a variety of channels available to assist you.
Frequently Asked Questions
How can you maximise your returns with the CIMB FastSaver account?
To maximise your returns with the CIMB FastSaver account, you need to maintain a minimum balance of $1,000. The account offers a base interest rate of 1.50% p.a., which can go up to 3.50% p.a. when you fulfil certain conditions. These conditions may include depositing a minimum amount each month or not making any withdrawals for a specific period. You can check the latest terms and conditions on the CIMB Singapore website.
What are the latest promotions for the CIMB FastSaver interest rates?
CIMB Singapore regularly offers promotions for its FastSaver account. These promotions may include higher interest rates for new account holders or bonus interest for fulfilling specific conditions. You can check the latest promotions on the CIMB Singapore website or by contacting their customer service.
How does the CIMB FastSaver account compare to other savings accounts in Singapore?
The CIMB FastSaver account offers competitive interest rates compared to other savings accounts in Singapore. However, it’s always a good idea to compare different savings accounts based on their interest rates, fees, and other features to find the one that suits your needs best.
What are the requirements to open a CIMB FastSaver account in Singapore?
To open a CIMB FastSaver account in Singapore, you need to be at least 16 years old and have a valid Singaporean or Permanent Resident ID. You can open an account online or by visiting a CIMB Singapore branch. You also need to have a minimum initial deposit of $1,000.
Are there any tools available to calculate your potential earnings with CIMB FastSaver?
Yes, CIMB Singapore offers a savings calculator on their website to help you calculate your potential earnings with the FastSaver account. You can input your deposit amount, tenure, and interest rate to get an estimate of your earnings.
What benefits does the CIMB Singapore Preferred account offer over the FastSaver?
The CIMB Singapore Preferred account offers higher interest rates than the FastSaver account, but it also requires a higher minimum balance and may have additional fees. The Preferred account also comes with additional benefits such as free cheque books, ATM withdrawals, and fund transfers. However, it’s important to consider your financial goals and needs before choosing between the two accounts.