Skip to main content

Share the love!

After opening a FastSaver account with CIMB 6 months ago, I can say I am a satisfied depositor. I took home a good $10 cash gift. I shared that happiness with my family and friends. Of course, some scoffed at the promotion and interest rate. I tried to convince them. I failed. That's alright. They are happy with POSB. Probably they didn't understand inflation. They didn't think $10 is worth the simple 6 steps process.

In this 6 months, the coffee prices increased by another $0.10 at a nearby kopitiam.

Just last month, one of my army mates got really interested and opened FastSaver too.

He told me about this promotion for another CIMB account.






CIMB StarSaver is offering 0.8% if you maintain $500 of fresh deposits. I assume the promotion is to get some people to sign up for StarSaver since FastSaver is presumably the better option here to a new depositor with no conditions. I could be wrong on this, though. Do your own analysis.

Anyway, he got his interest from FastSaver for the first month which was around $7 more than leaving that same money in POSB. The difference in interest can now buy 10 cups of kopi in the camp's canteen a month. Over a year, that's 120 cups of kopi.

This month, I decided to set the FastSaver account as my emergency stash. With FAST, the transferring of money was easy. It will net me about 3 extra dollars in interest. Again, not much right? Over a year, that's $36. Not too bad. Of course, I am still losing the game to inflation.

Back to the promotion. Share the love!

Till next time,
Oyasuminasai!




Comments

Popular posts from this blog

Value-for-money: Kinokuniya or Booksdepository

Meet Kinokuniya and Books Depository.  The former has physical brick-and-mortar and online stores while the latter is solely an online retailer.  For all the book lovers out there, I am sure these are some of the places we go in order to satisfy our book cravings. Kinokuniya was where I picked up my first book on investing. I summarised some of my thoughts on that book here . Since then, I have bought at least 6 other books on investment and other genres that cost at least $200 in total from Kinokuniya.  Book lovers should also know that Kinokuniya is not the cheapest for pricing. I came to know Books Depository  recently, and boy is there a huge difference in price.  Let's compare an investment book, say  Common Stocks and Uncommon Profits and Other Writings.  On Books Depository : $18.56, original price: $30.03  On Kinokuniya : $37.40, member's price: $33.66    If we are to compare prices only, then we have a clear winner here. Kinokuniya is st

My Insurance Policies

Too expensive. A waste of money. I don't need insurance. I don't know how much I'm covered. My parents bought insurance for me and handles it.  These are just some of what people say. I've had some friends who said that when the topic is broached.  Insurance isn't easy to understand at all!  So many policies, so many insurers.   To be honest, I'll still choose to let my parents handle it all. But I'm no longer a little boy. I took it upon myself to understand all my policies that my parents bought and which are the policies that I bought on my own. As to how it really started, other than me turning 21, it was also partly due to me wanting to know what I am actually buying.  So it is time to look into the policies I have. Readers who know more about insurance, feel free to correct me on any point. Gladly appreciate it!  Life Insurance CPF Dependents Protection Scheme Covers every CPF member from 21 years old and insures $46,000 in even

POSB Invest-Saver RSP Update

It was about 3 months ago that I subscribed to POSB Invest-Saver Regular Savings Plan (RSP) amid all the global turmoil. This RSP buys the Nikko AM STI ETF(Ticker: G3B.SI) every month with the amount you set(eg. $100). There is another STI ETF(Ticker: ES3.SI) but you can't buy it with this plan. This 2 ETFs simply tracks the performance and try to replicate its returns of the Straits Times Index(STI). From an NSF This is also the first foray into stocks for me, putting $100 from my NS allowance into this. Now how did it go? Dollar-Cost Averaging Buying less at high prices and buying more at low prices has allowed me to average down the Average Unit Price and Average Unit Cost though it is quite insignificant given the short period of buying. Currently, with the $1 commission, the Total Investment Cost is $293.49. The Cumulative Portfolio Value is $290.49.  Given the negative news surrounding the world financial markets, it's a -$29.49 portfolio loss with