Tired of jumping through hoops just to earn a decent return on your savings? The CIMB FastSaver Account keeps it refreshingly simple. Unlike many accounts that tie higher interest rates to endless conditions, FastSaver lets you enjoy attractive returns without the hassle.

You can earn up to 2.88% p.a. on your savings  effortlessly, and with just one extra step — crediting your salary or setting up a recurring transfer of at least S$1,000 — you’ll unlock an additional 0.50% p.a. Let’s dive in and see why FastSaver might be the straightforward savings solution you’ve been looking for.

The CIMB FastSaver Account is a straightforward savings account that offers competitive interest rates without the usual hoops to jump through. Unlike many accounts that tie higher returns to multiple conditions, FastSaver keeps things simple and lets you earn attractive rates while keeping your money fully accessible.

In addition, CIMB runs occasional promotions that boost the maximum interest rates you can earn. For instance,, until 30 September 2024, the maximum interest rate was boosted to 3.5% p.a. from the usual 2.88%, with no extra requirements. Add on a salary credit or recurring transfer of at least S$1,000, and you can earn another 0.5% — all without locking your funds away. 

This makes the CIMB FastSaver a strong choice for savers who value ease, flexibility, and fuss-free returns on their deposits.

>>MORE: Types of savings accounts

SingSaver’s take

The CIMB FastSaver Account is built for fuss-free savers who want attractive returns without strings attached. With no hoops to jump through, you can earn a competitive rate just by parking your money in the account. It’s particularly appealing if you want straightforward returns without tracking multiple criteria or shifting all your banking activities to one provider.

That said, it’s best for individuals who prioritise ease and flexibility, such as younger professionals building their first savings buffer, or conservative savers who dislike micromanaging monthly requirements. The additional 0.50% p.a. bonus for salary crediting is a nice-to-have, but even without it, the FastSaver’s baseline rates make it a compelling option for those who just want their savings to grow quietly in the background.

Unlike other accounts that require the fulfillment of multiple categories to unlock bonus interest, the CIMB FastSaver Account primarily rewards you for maintaining higher balances and taking two optional actions: crediting your salary or spending with a CIMB credit card.

• Base interest rate: From 0.80% p.a. depending on balance tier

• Bonus interest: Earned by crediting salary (or recurring transfer) and/or spending on a CIMB credit card

• Maximum interest rate: Up to 2.88% p.a. on eligible balances

• Flexibility: No fixed lock-in — you can withdraw your funds anytime while continuing to earn interest

How to earn bonus interest

Account holders who do not credit their salary or use the CIMB credit card will still earn the base tier interest according to their balance, ensuring that your savings are not just sitting idle.

The CIMB FastSaver Account is built for savers who prefer straightforward returns. Unlike accounts that require you to track multiple categories like insurance or investment products, FastSaver keeps things simple — your returns depend mainly on your balance, whether you credit your salary and if you spend on a CIMB credit card.

Here’s how you can make the most of it:

1. Credit your salary

   • Set up a monthly salary credit or recurring transfer of at least S$1,000.

   • This unlocks an additional 0.50% p.a. on the first S$25,000 of your savings.
     
     

2. Spend with your CIMB Visa Signature Credit Card

   • Use the CIMB Visa Signature Credit Card and hit the monthly spend requirement. This adds up to 1.00%–1.50% p.a. bonus interest on the first S$25,000.

   • Everyday expenses like dining, groceries, or online shopping can help you hit the target.
     
     

3. Maintain healthy account balances

   • Your returns also depend on how much you hold in the account. The highest tier of 2.88% p.a. applies to the first S$25,000, while subsequent tiers earn between 0.80% and 2.50% p.a.

   • Keeping a solid balance ensures steady interest growth without extra effort.

Putting it into practice

Suppose you deposit S$50,000 into your CIMB FastSaver Account. By default, you’ll earn 2.88% p.a. on the first S$25,000 and 1.78% p.a. on the next S$25,000, which already adds up to more than S$1,200 a year in interest.

Now, if you credit your monthly salary of at least S$1,000, you unlock an additional 0.50% p.a. bonus on the first S$25,000. Add a qualifying CIMB Visa Signature Credit Card spend, and you could boost your effective interest even further, making your savings work harder while staying fully accessible.

>>MORE: Fixed deposits vs. High-Yield Savings Accounts (HYSAs)

Opening a CIMB FastSaver Account is simple and can be done entirely online. Applicants must be at least 16 years old and meet the bank’s identification requirements.

Documents required

When applying, you’ll need to provide:

• Singaporeans, PRs, and Malaysians residing in Singapore

• NRIC (front and back)

• Proof of address (if different from NRIC)

• Foreigners

• Valid passport

• Employment Pass, S Pass, or Student Pass (minimum validity of 6 months)

• Proof of residential address (e.g., tenancy agreement, utility bill, or bank statement dated within the last 3 months)

Applicants who are existing CIMB customers with MyInfo (SingPass) can often enjoy a faster, paperless application process.

Deposit requirements

• Minimum initial deposit: S$1,000

• Fall-below fee: No minimum average daily balance is required — there are no fall-below fees.

• Early account closure fee: S$50 if closed within six months

Wondering if the OCBC 360 Savings Account is the best choice for you? Here’s how it fares against other HYSAs in Singapore:

Which savings account is best for me?

When comparing these accounts, the right choice depends on your habits and priorities. The OCBC 360 Account is the well-rounded pick if you’re willing to stack categories, while the Standard Chartered Bonus$aver suits disciplined maximisers who can reliably meet salary, spend and wealth criteria.

Prefer simpler setups? The CIMB FastSaver keeps things fuss-free, with tiered base rates and optional boosts from salary credit/recurring transfer and CIMB Visa Signature spend, while the UOB One is card-centric and predictable.

If you’re embedded in the DBS ecosystem, DBS Multiplier rewards total activity across categories  with rates up to 4.10% p.a. on the first S$100,000, and if you want a high base with modular add-ons, Citi Interest Booster starts at 1.5% p.a. base and can reach up to 4.0% p.a. when you layer eligible activities.

1. Check your eligibility: You must be at least 16 years old and a Singaporean, PR, or foreigner with a valid pass.

2. Prepare your documents: All applicants will need to have their NRIC or passport ready, plus proof of residential address (if it differs from the ID document). Foreigners also need a supporting pass (EP/Work/Dependant’s/Student Pass).

3. Apply: Start the application with MyInfo/Singpass on CIMB’s site, or apply at a branch.

4. Fund to activate: Transfer in S$1,000 as the minimum initial deposit from your single-name account (or your own CIMB Malaysia account).

5. Complete verification: Be available for a quick identity check (CIMB may do a short video call).

6. Access your account: The bank processes and opens the account after receiving your deposit and documents (subject to approval). Download CIMB Clicks SG, register, and enable your Digital Token to manage the account.

The CIMB FastSaver Account suits savers who want simple, fuss-free returns without juggling a long list of criteria. You’ll earn tiered base interest with full access to your funds, and you can nudge rates higher on the first S$25,000 by crediting at least S$1,000 monthly and/or spending on a CIMB Visa Signature—with the headline cap at up to 2.88% p.a. on that first tier. 

If you prefer a “set-and-forget” approach or you’re building an emergency fund, FastSaver’s straightforward structure and no-lock-in design are a strong fit. However, if you’re a rate chaser willing to meet multiple categories every month (salary, spending, insurance, investments, etc.), you may find that other savings accounts out there can offer a higher ceiling — but they come with more moving parts to maintain.