CIMB Bank Singapore offers many types of savings accounts to its customers. Among them is the CIMB FastSaver-i account, Singapore’s first online savings account that is compliant with Shariah concept of Murabahah.
Find more about Savings Account
Features and Benefits
- If you apply online, you will get your account number immediately.
- The profit rate is independent of other conditions like crediting of salary, minimum spend on credit card, or online transactions.
- You can access your e-Statements through CIMB Clicks internet banking. You can use the same facility to access your banking services anytime. You can also make contributions to Wakaf limu and make fulfill your Zakat.
- Transfer funds instantly to other participating banks within Singapore through FAST. You will not be charged a service fee when you transfer funds to select CIMB Malaysia accounts.
When you sign up for the CIMB FastSaver-i Account, you receive the following:
- Cash credit of up to S$30.
- Savings of 40% on Takaful Travel insurance, which offers coverage of up to S$250,000 for personal accident.
To be eligible for the promotion, you must make an initial deposit/top-up placement of S$20,000 in your StarSaver-i and/or FastSaver-i accounts.
The promotion ends on 30 June 2018.
|Any amount over and above S$50,000||0.60%|
Fees and Charges
The fees and charges for the various services offered by the bank for this account are as follows:
|Type of fee||Fees and charges|
|Minimum initial deposit||S$1,000|
|Minimum deposit required to earn profit||S$1,000|
|Fee for early account closure (within six months)||S$50|
|ATM card fee||S$10 for every new card|
- You must be at least 16 years old.
- Only “individual” accounts and “Joint-Or” accounts are eligible.
For Singaporeans/Permanent Residents and Malaysians:
- Residence address proof, in case it differs from the one in your ID document.
- Residence address proof.
- Any supporting documents (if available).
How to Apply
- Step 1: Click on the “Apply Now” option available on the bank’s website and fill in the online application form. You will be issued your account number immediately if you meet the bank’s criteria.
- Step 2: Upon account activation, transfer funds of at least S$1,000 from any other local bank through FAST.
- Step 3: If you are a new user of CIMB Clicks, you will receive your activation code within 3 working days via mail. Use this code to activate your account by visiting the bank’s website. If you are an existing user, you can use your username and password to access your account.
Q. What makes FastSaver-i different from the regular FastSaver account?
A. Unlike the regular FastSaver account, CIMB FastSaver-i is a Shariah-compliant online savings account where you get your returns in the form of profits.
Q. Is the profit rate of 1% p.a. on this account a promotional rate?
A. No, 1% p.a. profit rate is the regular rate offered on this account and not a promotion. However, this rate is applicable only for the first S$50,000 deposit amount. Any amount deposited above S$50,000 will earn a profit rate of 0.6% p.a.
Q. How do I withdraw from or deposit to this account?
A. You can withdraw as well deposit funds using the following ways:
- CIMB Clicks Internet Banking
- Clicks on Mobile ( CIMB Clicks Singapore app on Apple/Android)
Do note that there will be charges on other offline modes of deposit/withdrawal.