Another new candidate account to park your warchest – CIMB FastSaver

I was tired and on my company bus home from work.

On my facebook feed, I saw this new account from CIMB, called CIMB FastSaver.

1.0% p.a. without any fees nor conditions for the first 50k, sounds like it will replace the CIMB StarSaver Savings account on my watchlist (at least while my balances are still low), no cheque book though.

It is an online account similar to my prior StandChart eSavers account.

Got some cash credit too though

• $10 for initial deposits of 1k-9.999k
• $50 for initial deposits of 10k-24.999k
• $100 for initial deposits of 25k and above

Might be worth considering if you're gonna put money in SSB for 1 year anyway, if you are not salaried nor use credit cards, can try this as a way to stash your savings.

But that being said, it would be an add-on to my existing OCBC 360 (and probably UOB One in the future), instead of a replacement, competing with fixed deposits.

Last but not least, those emergency funds set aside can be placed here as well.


Can also open online as well! Easier than going down to the bank (which is like soooo far).

So what about you? Is that a new place to park your warchests?

EDIT (19 Sep 15): I opened it last night and FAST transferred the funds in (I transferred 1k to test first, at the same time, highest ROI by % because I don't have much excess funds anyway), it was opened today, 19 Sep 15, in the afternoon. Superbly fast :D