The CIMB StarSaver (Savings)-i Account is a savings account that is compliant with Shariah and therefore uses the concept of Wadiah Yad Dhamanah wherein you deposit money with CIMB bank for the purpose of safekeeping and you will potentially earn 0.8% per annum as a historical hibah rate.
Features and Benefits of CIMB StarSaver (Savings)-i Account:
- Attractive Historical Hibah Rates – You can earn a rate of 0.8% on your complete account balance.
- Daily Calculation of Historical Hibah – The historical hibah is computed on a daily basis by the bank and you may even receive historical hibah at the end of the month as per the discretion of the bank.
- Top-Up facility – You have the option to top-up your account conveniently by fund transfer, Interbank GIRO, in branch deposits and mail in cheques.
- E-Statements – If you choose to only receive eStatements for your account instead of paper statements, you will get a waiver on your monthly account fee.
Additional Features and Benefits of CIMB StarSaver (Savings)-i Account:
- Convenient access to Internet Bank through CIMB Clicks.
- No service charge will be applicable on overseas withdrawals made at any of the CIMB Group ATMs in ASEAN and overseas PLUS ATMs.
- No fee charged as ‘fall below fee’.
- You can open your CIMB StarSaver (Savings)-i Account online and receive your account number instantly after applying.
- Immediate fund transfer facility through FAST across all participating banks in the country. Additionally, no service fee will be charged on select Malaysian CIMB accounts.
Eligibility Criteria for CIMB StarSaver (Savings)-i Account:
You must meet the following eligibility criteria to apply for CIMB StarSaver (Savings)-i Account:
- Nationality Criterion – Singapore Citizens, Permanent Residents, Malaysians and Foreigners are eligible to apply for this account.
- Age Criterion - You must be at least 16 years old and above. However, if you are below 16 years of age, you must open an In-Trust Account along with your parent or legal guardian.
- 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.
Documentation Criteria for CIMB StarSaver (Savings)-i Account:
You must submit the following documents to be eligible to apply for CIMB StarSaver (Savings)-i Account:
- Singapore Citizens, Permanent Residents and Malaysians must submit their NRIC.
- Foreigners must submit their Passport and Address Proof + any other documents upon request including Work Permit, Employment Pass, and Student Pass etc.
Fees and Charges for CIMB StarSaver (Savings)-i 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 StarSaver (Savings)-i Account:
You can apply for CIMB StarSaver (Savings)-i Account through the following ways:
- Online – When you apply for this account online, you will receive your account number instantly.
- Call CIMB Bank – You can call the bank on their Personal Banking Hotline Number from Monday to Sunday between 9 AM and 9 PM. The number is available on the CIMB StarSaver (Savings)-i Account web page of the official CIMB Singapore website.
- Email CIMB bank – You can email the bank regarding your application and CIMB will respond to you within 1 business day. The email address is available on the CIMB StarSaver (Savings)-i Account web page of the official CIMB Singapore website.
- LUCY - You can fill in the ‘LUCY’ form (Let Us Call You form) available online on the CIMB StarSaver (Savings)-i 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 to take the process further.
- Visit CIMB bank – You can visit your nearest CIMB Bank branch for any further queries.