• CIMB FastSaver Account FAQ

1. Is CIMB FastSaver’s offer of 1.50% p.a. interest a promotional rate?

No, the 1.50% p.a. interest offered by CIMB FastSaver is not a promotional rate

Do note that the 1.50% p.a. interest applies to balances from above S$50,000 to S$75,000. 1.0% p.a. for balances up to S$50,000 and 0.6% p.a. for balances above S$75,000 will apply as long as a minimum S$1,000 is maintained in the CIMB FastSaver account on any given day.

2. How do I apply for CIMB FastSaver account?

As CIMB FastSaver is an online savings account, application will only be accepted online.

Upon successful application, you will be instantly notified of your new CIMB FastSaver account number with the information displayed onscreen, as well as via email.

3. What must I do after receiving my CIMB FastSaver account number?

New-to-Bank Customers

You are required to activate your CIMB FastSaver account after receiving your new account number. You can do so by transferring a minimum initial deposit of S$1,000 via FAST (Fast and Secure Transfers) from your account with another bank into your CIMB FastSaver account using Internet banking:

  • For Individual Account Holder: do a funds transfer via FAST from your personal account (i.e. the account must bear your name only) with another bank in Singapore
  • For Joint Account Holders: do a funds transfer via FAST from the respective applicant’s personal account (i.e. the respective account must bear the individual name only) with another bank in Singapore

Please note that your CIMB FastSaver account cannot be activated if the minimum initial deposit is funded by a 3rd-party account that does not bear the name of the individual account holder or the respective name of the joint account holders.

Existing Bank Customers

You can activate your CIMB FastSaver account by transferring the initial deposit of S$1,000 from your CIMB Bank Singapore Savings and/or Current Account using CIMB Clicks.

4. How do I deposit into or withdraw funds from CIMB FastSaver?

Given this is an online savings account, you are encouraged to conduct your day-to-day banking transactions conveniently from the comfort of your home or on the move via CIMB Clicks Internet Banking or Clicks on Mobile (via the CIMB Clicks Singapore app on iPhone or Android). If you do not have a CIMB Clicks account yet, you may apply for this free service here.

There will be charges imposed if you choose to deposit or withdraw funds via other channels:

Depositing into CIMB FastSaver

Channel Fees & Charges

Via Internet Banking

Free

Via Quick Cheque Deposit Box at the branch

Free
Over the branch counter S$5 per counter transaction

Withdrawing from CIMB FastSaver

Channel Fees & Charges
Via CIMB Clicks Internet Banking Free
Via ATM S$10 (one-time) for application of a new ATM card and/or S$10 (one-time) for linking of CIMB FastSaver account to existing CIMB ATM Card.
Over the branch counter S$5 per counter transaction

 

 

5. What should I consider when applying for CIMB FastSaver account?

As CIMB FastSaver is designed for the digitally-savvy working professional in mind and is intended to free customers from the hassle of going to the branch, do consider the following factors before applying for this online savings account:

  • For validation purpose, the CIMB FastSaver account can only be activated when the customer transfers the minimum initial deposit to this online account via FAST (Fast and Secure Transfers) from his/her savings/current account with another bank in Singapore.
  • As this is a fully online account, customers are encouraged to perform your banking transactions from wherever you are without having to step into the branch. We impose charges for issuing new ATM card, linking of CIMB FastSaver to existing ATM card and over-the-counter transactions at the branch. (For more information, please refer to the Complete List of Fees and Charges.)
  • To access CIMB FastSaver account information, having a CIMB Clicks Internet Banking account is necessary. This free service can be applied here at the same time when you apply for CIMB FastSaver.
  • Unlike current accounts such as CIMB StarSaver, CIMB FastSaver is a savings account and does not offer cheque books.
  • Given the nature of this account, there will also be neither passbook nor paper statements issued to customers. Customers can access their CIMB FastSaver account details conveniently via CIMB Clicks. A PDF electronic statement of the account can also be downloaded from CIMB Clicks Internet Banking.
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