The CIMB Junior Saver Account is applicable for all children up to the age of 12. The account will not only benefit you with higher rate of interest up to 0.8% per annum, but members will be able to take advantage of privileges and discounts as well as invites to special events.
CIMB Junior Saver Account Promotion – CIMB Million Dollar Draw:
You can earn S$1,000,000 in a single draw by entering yourself into the CIMB Million Dollar Draw in the following ways:
- Open a CIMB Junior Saver Account.
- Sign up for Internet Banking (CIMB Clicks).
- Maintain at least S$20,000 or more in this account as your deposit balance at the end of the month.
- You can log in every other month through CIMB Clicks to get additional chances to participate in this draw.
Features and Benefits of CIMB Junior Saver Account:
- CIMB Junior Recognition Card – With this card, cardmembers will receive invites to exclusive events and avail an array of privileges and discounts.
- Future security for your child – You can start planning ahead for your child’s future education as you will receive reimbursement on 1 month’s premium when signing up for NTUC VivoChild endowment plan and TM Education (LP).
- E-Statements – You will receive free e-statements and a waiver on your monthly account fee when you opt for eStatements instead of paper statements.
- Attractive Interest Packages – You will earn a 0.8% interest rate per annum on your complete account balance.
- Table 1: Find below your interest rate savings with the CIMB Junior Saver Account in comparison to other banks:
|Approximate amount of S$25,000||CIMB Junior Saver Account||Savings Account of Other Banks|
|Rate of Interest||0.8% p.a.||0.05% Tiered Interest - 0.08% p.a.|
|Interest earned after the elapse of 1 year||S$200||S$12.50|
|CIMB Junior Saver's Advantage||S$187.50*|
*Note – The daily interest that your account will earn will be based on the entire balance maintained daily which must be a minimum of S$1,000 on any day.
Additional Features and Benefits of CIMB Junior Saver Account:
- No fee charged as ‘fall below fee’.
- You can open your CIMB Junior Saver Account online and receive your account number instantly after applying.
Eligibility Criteria for CIMB Junior Saver Account:
You must meet the following eligibility criteria to apply for CIMB Junior Saver Account:
- Nationality Criterion – Singapore Citizens, Permanent Residents, Malaysians and Foreigners are eligible to apply for this account.
- Minimum Deposit Requirement – S$1,000 is required as an initial deposit amount. You can make the deposit using a personal cheque and make it payable to your own name or you can transfer the deposit amount using FAST from an individual account you have with another bank on the island.
- Joint Account (In-Trust) – The account must be opened jointly having the name of the parent or the legal guardian who must at least be 18 years and above and the child who must be 12 years old or below. You can make the deposit using a personal cheque or you can transfer the deposit amount using FAST from each of the joint applicant’s personal accounts held with another bank on the island.
- Main Account Member – The main account member must be a parent or a legal guardian and must be at least 18 years old and above.
Documentation Criteria for CIMB Junior Saver Account:
You must submit the following documents to be eligible to apply for CIMB Junior Saver Account:
- Singapore Citizens, Permanent Residents and Malaysians parents/legal guardians must submit their NRIC and the birth certificate of their child.
- Foreigners’ parents/legal guardians must submit their Passport and Address Proof and the Passport and the birth certificate of their child + any other documents upon request including Work Permit, Employment Pass, and Student Pass etc.
- Legal Guardians must also submit their Proof of Relationship document.
Note - The bank only accepts JPG, GIF and PNG formats for your documents. Your documents must be signed by you.
Fees and Charges for CIMB Junior Saver Account:
|Product/Item||Fees and Charges|
|Initial deposit minimum amount||S$1,000|
|Minimum amount for earning interest||S$1,000|
|Accounts closed within the first 6 months will be subjected to an Early account closure fee||S$50|
|Monthly Account Fee||S$1 (waived upon opting for eStatements instead of paper statements|
Applying for CIMB Junior Saver Account:
You can apply for CIMB Junior Saver Account through the following ways:
- Online – Open your account online and receive your account number instantly after applying.
- Call the bank – You can call CIMB bank on their Personal Banking Hotline Number on all days between 9 AM and 9 PM. The number is available on the CIMB Junior Saver Account web page of the official CIMB Singapore website.
- Email the bank – You can email the bank to apply and CIMB will respond to you within 1 business day. The email address is available on the CIMB Junior Saver Account web page of the official CIMB Singapore website.
- LUCY - You can fill in the LUCY or the Let Us Call You form available online on the CIMB Junior Saver Account web page of the official CIMB Singapore website. A representative from the bank will then contact you on your preferred mode of communication as indicated on the form.
- Visit the bank – You can visit your nearest CIMB Bank branch for any further queries.