CIMB FastSaver is the savings account for people who hate hoops. There is no salary credit requirement, no minimum card spend, no bill payments to set up and no fall-below fee to dodge. You park your money and earn a tiered base rate that, as of 20 October 2025, runs from 0.50% p.a. on the first S$25,000 up to 1.58% p.a. on the slice between S$50,000 and S$75,000. On top of that, CIMB runs rotating promotions: in June 2026 you can reach up to 2.50% p.a. on the first S$25,000 of fresh funds if you stack a top-up bonus, a salary or GIRO transfer, and CIMB credit card spend. The honest verdict: FastSaver is a clean place to hold cash if you cannot or will not jump through the conditions that UOB One, OCBC 360 and DBS Multiplier demand. But its base rate alone no longer beats a fixed deposit or T-bill, so where it wins is convenience and the promo, not the headline number.
Open CIMB FastSaver if you want a no-conditions account: no salary credit, no card spend, no GIRO bills, no monthly fee and no fall-below fee. You earn interest on your whole balance regardless of what you do each month, which suits freelancers, students, the self-employed, and anyone who keeps a moderate cash buffer and does not want to babysit bonus categories.
Skip it as your main earner if you have a salary you can credit and a card you already spend on. In that case the big high-yield accounts like UOB One or OCBC 360 pay more for conditions you would meet anyway. FastSaver is best read as a secondary cash account, or a primary one for people who genuinely cannot hit salary and spend rules.
If you can lock the money away, the base FastSaver rate is no longer competitive on its own. A 6-month T-bill cut off at 1.47% on 18 June 2026 and the best 6-month fixed deposit paid 1.50% p.a., both beating FastSaver's 0.50% rate on the first S$25,000. The promo is what makes FastSaver interesting, not the standing rate.
The trade-offs are easy to summarise once you separate the standing account from the rotating promo.
FastSaver pays a tiered rate, so different slices of your balance earn different rates rather than one flat number. These are the published base rates effective 20 October 2025, with no conditions attached:
| Balance slice | Rate p.a. | Interest on that slice (full year) |
|---|---|---|
| First S$25,000 | 0.50% | S$125 |
| Next S$25,000 (to S$50,000) | 1.08% | S$270 |
| Next S$25,000 (to S$75,000) | 1.58% | S$395 |
| Above S$75,000 | 0.50% | 0.50% on the excess |
Because the rate is tiered, the number that matters is the blended rate across your whole balance, not the headline 1.58%. The table works out the effective rate and the annual interest at common balances from the base tiers. The salary or GIRO column adds the +0.50% p.a. bonus on the first S$25,000 only, which is the realistic everyday setup once you drop the card-spend chase.
| Balance held | Base only (rate / interest) | With salary or GIRO bonus (rate / interest) |
|---|---|---|
| S$25,000 | 0.50% / S$125 | 1.00% / S$250 |
| S$50,000 | 0.79% / S$395 | 1.04% / S$520 |
| S$75,000 | 1.05% / S$790 | 1.22% / S$915 |
| S$100,000 | 0.92% / S$915 | 1.04% / S$1,040 |
The promo bonuses only ever touch the first S$25,000, so adding them dilutes fast as your balance grows. The table below works out the blended savings rate and yearly interest for the four combinations worth knowing: base alone, the salary or GIRO bonus on its own, salary plus the S$800 card spend, and all three stacked. Each figure is the published tiered base rate plus the published bonus on the first S$25,000, so you can sanity-check it against your own balance.
CIMB layers a promotional rate on top of the base, and it changes every month or two, so treat the figures below as the June 2026 structure and confirm the live terms before you move money. The headline is up to 2.50% p.a. on the first S$25,000, available to both new-to-bank and existing customers. That 2.50% is the 0.50% base plus three stacked bonuses:
Hitting all three is the only way to the full 2.50%, and the bonus applies only to the first S$25,000. On that S$25,000, 2.50% is about S$625 a year versus S$125 at the base rate, so the promo is worth roughly S$500 over a year if you can sustain the conditions every qualifying month.
Most people will not stack all three. Fresh funds plus the salary or GIRO transfer, without the card, gets you to 1.50% p.a. on the first S$25,000. The bonus interest is typically paid out later, with CIMB crediting June's promo around 31 August 2026, so do not expect it in the same month. Read the campaign T&Cs for the exact crediting date and the per-account cap, which has run up to S$1,000,000 of incremental balance in recent rounds.
Watch the banner figure too. CIMB's own June 2026 page leads with a smaller 'up to 2.18% p.a.' number, which reflects a partial stack rather than the full three bonuses, and the fresh-funds bonus is 0.50% for standard customers but 0.60% for Preferred Banking clients. The 2.50% headline is real, but only when fresh funds, salary or GIRO, and the S$800 card spend all land in the same qualifying month. Treat any rate you see as the ceiling, then strip out the conditions you will not actually meet.
Getting to the headline 2.50% takes three moving parts to line up in the same calendar month, and each one has a threshold that trips people up. Run through them in order before you assume the promo is worth it for you.
FastSaver's appeal is that the fee list is short. There is no monthly account fee and no fall-below fee, which is rare among Singapore savings accounts and the main reason it suits people who keep a smaller balance.
| Item | Amount or rule |
|---|---|
| Minimum initial deposit | S$1,000 |
| Minimum age | 16 years old |
| Eligibility | Singaporeans, PRs, Malaysians residing in Singapore, and foreigners with a valid pass |
| Monthly account fee | None |
| Fall-below fee | None |
| Early account closure fee | S$50 if closed within 6 months of opening |
| ATM card application or linking | S$10 one-time |
| Over-the-counter deposit or withdrawal | S$5 per transaction |
| Deposit insurance | SDIC, up to S$100,000 per depositor |
CIMB Bank Berhad's Singapore branch is a full bank and a Deposit Insurance Scheme member, so your Singapore dollar deposits in FastSaver are insured by the Singapore Deposit Insurance Corporation up to S$100,000 per depositor per bank. That limit rose from S$75,000 to S$100,000 on 1 April 2024 and remains S$100,000 in 2026.
The cover is per bank, not per account, so spreading several CIMB accounts does not raise your protection. If you hold more than S$100,000 in cash, splitting it across different banks keeps all of it insured. The promo cap on FastSaver has reached S$1,000,000 in some rounds, which is well above the S$100,000 insured amount, so anyone parking that much should understand only the first S$100,000 carries the SDIC guarantee.
The comparison most people care about is FastSaver against the conditional big-bank accounts. The trade is simple: FastSaver asks nothing and pays a modest rate; the others pay more but only if you feed them a salary and card spend. Rates below are the published June 2026 figures and change often, so confirm on each bank's page before deciding.
| Account | Max rate p.a. | Bonus balance cap | What the top rate needs | Fall-below fee |
|---|---|---|---|---|
| CIMB FastSaver | 0.50%-1.58% base; up to 2.50% with June promo | Promo on first S$25,000; base tiers to S$75,000 | Nothing for base; promo needs fresh funds + salary/GIRO + card spend | None |
| UOB One | max EIR 1.90% | First S$150,000 | S$500 card spend + salary credit | S$5 under S$1,000 avg balance |
| OCBC 360 | up to 4.45% | First S$100,000 | Salary + save + spend + insure + invest | S$2 under S$3,000 |
| DBS Multiplier | up to 4.10% | First S$100,000 | Income credit + multiple categories | S$5 under S$3,000 (waived if 29 or below) |
| Trust Bank | up to 2.40% | Varies by tier | Salary credit and spend conditions | None |
The 4%-plus headlines at OCBC and Standard Chartered need you to buy insurance or investments from the same bank, which usually loses money once you count product fees if you did not want them. The realistic salary-plus-spend rate at OCBC 360 is around 1.95% p.a., and UOB One's full S$150,000 blends to a maximum effective rate of about 1.90% p.a. FastSaver's pitch is that it pays a respectable rate for doing nothing, and its June promo can match the achievable rate at the big accounts on a smaller balance, without the monthly conditions hanging over you. Work out your own number through a compound interest calculator before switching.
The fairer fight for FastSaver is against other low-condition accounts, not the heavy-hoops giants. UOB Stash rewards a rising balance with no salary needed, and Standard Chartered JumpStart targets 18-to-26-year-olds with a flat rate. On balances up to about S$75,000, FastSaver's tiers tend to edge both once you add the salary or GIRO bonus, because its middle slices pay more. JumpStart's rate falls away as your balance grows past its cap, so it suits a smaller pot. Past S$100,000, UOB Stash often pulls ahead, since FastSaver's excess earns only 0.50%. The pattern is consistent with FastSaver's design: strong from a few thousand dollars up to S$75,000, weak above it.
If you do not need instant access to the cash, a savings account is rarely the highest-paying home for it. In June 2026 the 6-month Singapore T-bill cut off at 1.47%, the best 6-month fixed deposit paid 1.50% p.a., and GXS offered 1.60% p.a. on a 12-month fixed deposit through Boost Pocket. All of those beat FastSaver's 0.50% base rate on the first S$25,000, and even edge the 1.08% second tier.
The difference is liquidity. FastSaver lets you withdraw anytime with no penalty, while a fixed deposit locks your money for the term and a T-bill ties it up for six months or a year. The sensible split: keep your emergency fund of three to six months of expenses in a liquid account like FastSaver, and move cash you will not touch for months into a fixed deposit or T-bill where it earns more. Compare the three side by side with SSB vs T-bill vs fixed deposit before you lock anything.
Match the account to the person rather than chasing the biggest poster rate:
FastSaver is opened digitally through the CIMB website or CIMB Clicks app using Singpass Myinfo, which pre-fills your details, so the application takes a few minutes for Singaporeans and PRs. You need to be at least 16 and fund the account with the S$1,000 minimum initial deposit, transferred by FAST from another Singapore bank or a CIMB Malaysia account. Foreigners can apply too, with a valid pass such as an Employment Pass, S Pass, Student Pass or Dependant's Pass, and may be asked for proof of address and a short verification video call.
Have your documents ready before you start so the application does not stall. Singaporeans, PRs and Malaysians residing here apply with their NRIC, plus proof of residential address if it differs from the NRIC. Foreigners need a valid passport, the pass itself with enough validity left, and a recent proof of address such as a tenancy agreement, utility bill or bank statement. After applying, transfer the S$1,000 by FAST, then download CIMB Clicks and set up your digital token to activate online banking.
Already a CIMB customer? You do not open a second account to join the promo. Sign up for the current campaign through your existing FastSaver in the app, then meet that month's fresh funds, salary or GIRO and card conditions. After opening, manage everything in CIMB Clicks: FAST and PayNow transfers in and out, and the standing instruction GIRO transfer if you want the salary or recurring-transfer bonus.
The base rate, effective 20 October 2025, is tiered: 0.50% p.a. on the first S$25,000, 1.08% p.a. on the next S$25,000, 1.58% p.a. on the next S$25,000, and 0.50% p.a. above S$75,000. There are no conditions for the base rate. In June 2026, a promotion lets you reach up to 2.50% p.a. on the first S$25,000 of fresh funds by stacking a top-up bonus, a salary or GIRO transfer, and CIMB Visa Signature card spend. Promo terms change often, so confirm the live figures on CIMB's page.
There is no monthly account fee and no fall-below fee, which is unusual among Singapore savings accounts. You need a S$1,000 minimum initial deposit to open it, but no minimum balance to maintain afterward. The fees to watch are S$50 if you close the account within six months, S$10 to apply for or link an ATM card, and S$5 per over-the-counter transaction. Use the app and you pay nothing to hold the account.
Yes. CIMB Bank Berhad's Singapore branch is a full bank and a member of the Deposit Insurance Scheme, so Singapore dollar deposits in FastSaver are insured by SDIC up to S$100,000 per depositor per bank. That limit rose from S$75,000 to S$100,000 on 1 April 2024 and is still S$100,000 in 2026. Anything above S$100,000 at the same bank is not insured.
No, and that is the whole point of the account. The base rate is paid on your full balance with no salary credit, no card spend and no GIRO bills required. The salary or recurring-transfer condition only applies if you want the extra 0.50% p.a. promotional bonus on top of the base, which is optional.
It depends on your habits. If you have a salary to credit and spend on a card anyway, UOB One (max effective rate around 1.90% p.a.) or OCBC 360 (around 1.95% p.a. on the realistic salary-save-spend combo) pay more for conditions you would meet regardless. FastSaver wins for people who cannot or will not meet those conditions, since it pays a decent rate for doing nothing and charges no fall-below fee. For a smaller balance during the June promo, FastSaver can match the achievable rate at the big banks without the monthly hoops.
Not on the base rate. In June 2026 the 6-month T-bill cut off at 1.47%, the best 6-month fixed deposit paid 1.50% p.a., and GXS offered 1.60% p.a. on a 12-month deposit, all above FastSaver's 0.50% rate on the first S$25,000. The advantage of FastSaver is that you can withdraw anytime with no penalty. Keep your emergency fund liquid in FastSaver and lock longer-term cash into a fixed deposit or T-bill for the higher rate.
Interest accrues daily on your entire daily balance and is credited to your account monthly, provided the interest earned is at least S$0.01 by the end of the month. Promotional bonus interest is usually paid out later than the base interest, with CIMB crediting June's promo around 31 August 2026, so check the campaign T&Cs for the exact crediting date.
Not by default. FastSaver is an online savings account with no debit card and no chequebook, so it is not built for daily spending. You can apply for or link a CIMB ATM card for a one-time S$10 fee, but most people just move money in and out by FAST, PayNow or GIRO inside the CIMB Clicks app. For card spending, you would use a separate CIMB credit card, which is also what unlocks the promo's card-spend bonus.
Yes. FastSaver is open to Singaporeans, permanent residents, Malaysians residing in Singapore, and foreigners holding a valid pass such as an Employment Pass, S Pass, Student Pass or Dependant's Pass. You must be at least 16 years old and fund the account with the S$1,000 minimum initial deposit. Foreigners may need to provide proof of address and complete a short verification step during the digital application.
Yes. CIMB offers FastSaver-i, the Shariah-compliant twin of the conventional account. It works the same way but pays profit instead of interest under Islamic banking principles, and its rate tiers and fee profile mirror the standard FastSaver. Singapore dollar deposits in FastSaver-i carry the same SDIC protection up to S$100,000 per depositor per bank.
No. The salary or GIRO bonus and the card-spend bonus apply only to the first S$25,000, not your full balance. The fresh-funds promo bonus applies to your incremental balance up to the campaign cap, which has reached S$1,000,000 in recent rounds, but the headline 2.50% rate is specifically the first S$25,000. Money in the higher base tiers still earns 1.08% and 1.58%, and anything above S$75,000 earns just 0.50%.
For Singaporeans and PRs, the digital application through CIMB Clicks or the CIMB website takes under ten minutes because Singpass Myinfo pre-fills your details. You fund it with the S$1,000 minimum initial deposit by FAST, then download CIMB Clicks and set up your digital token. There is no lock-in period at all, so the money stays fully accessible by FAST or PayNow once the account is live. Foreigners take a little longer because they may need to upload documents and complete a short verification step.
Singaporeans, PRs and Malaysians residing in Singapore apply with their NRIC, plus proof of residential address if it differs from the address on the NRIC. Foreigners need a valid passport, a valid pass such as an Employment Pass, S Pass, Student Pass or Dependant's Pass, and a recent proof of address such as a tenancy agreement, utility bill or bank statement. You must be at least 16 and fund the account with the S$1,000 minimum initial deposit.
You need all three June 2026 bonuses to land in the same qualifying month, and they only lift the first S$25,000. Move at least S$10,000 of fresh funds in against your cut-off balance, credit a salary or set a recurring GIRO of at least S$1,000, and post at least S$800 of eligible spend on the CIMB Visa Signature. Drop any condition you cannot sustain: salary or GIRO plus fresh funds alone reaches 1.50% on the first S$25,000 without any card spend. Bonus interest is paid out later, around 31 August 2026 for the June round.
This is general financial information for Singapore, not personal financial advice. Figures change — verify current rates against the official sources above before acting. See our full disclaimer.