New to CIMB bank accounts and have S$250,000 to set aside? Here is a great promo for you to set aside that sum of money: get an iPhone 15 Pro or MacBook Air absolutely free on top of a 3.5% p.a. interest rate!
To qualify for the promo, you have to apply below with your contact details for CIMB to contact you to start a CIMB Preferred relationship. Thereafter, you have to sign up for a StarSaver account as a new CIMB deposit customer and deposit at least S$250,000 of funds within a month of account opening.
The funds have to be maintained for a minimum of 6 months. For doing so, you get a gift option of either:
- an iPhone 15 Pro 128GB (retailing at S$1,649) or
- a MacBook Air 256GB 13-inch M2 (worth S$1,599)
Concurrently, CIMB is offering a promotional rate of 3.5% p.a. interest for 6 months on funds deposited into your new StarSaver account. Funds have to be maintained or increased compared to the previous month’s month-end balance to qualify for the 3.5% p.a. rate.
Until 31st January 2024
|Apply for CIMB Preferred and fill up SingSaver rewards redemption form in email (reference number is your IC number in full)
|⚠️ No form, no reward
|Open StarSaver account, deposit S$250,000 and maintain the deposit for 6 months
|Choice of Apple iPhone 15 Pro 128GB (worth S$1,649) or an Apple Macbook Air 256GB 13 inch (M2 chip) (worth S$1,599)
3.50% p.a. promotional rate for 6 months
At 3.5% p.a. for a deposit of S$250,000, you can expect to get about S$4,375 of interest in 6 months. 3.5% p.a. is a relatively decent rate considering there are no salary or spend requirements for this bank account.
If we take the value of the gift to be S$1,500, your annualised returns are roughly 4.75% p.a. This is a great rate especially for a sum of S$250,000.
Do note the following timelines:
|Month of Account Opening
|Deposit min. S$250,000 AUM in fresh funds
|By 31st January 2024
|By 29th February 2024
|By 31st March 2024
Also, reward fulfilment will take some time:
|Month of Fund in
|Fulfilment Period (after verification)
|By 31st August 2024
|By 15th October 2024
|By 30th September 2024
|By 15th November 2024
|By 31st October 2024
|By 15th December 2024
This probably makes the deal a little less attractive, but I don’t think it’s a dealbreaker since the base interest of 3.5% p.a. is already pretty decent.
More savings promos
Do take a look at other savings promos happening this month and stay subscribed for more! There’ll be an update to how I am managing my cash savings now that there are a few savings promos this December.
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