CIMB will revise interest rates from April 2025 for their Singapore Dollar deposit accounts. My favourite bank, CIMB will revise the prevailing interest rates for their SGD Deposit Accounts start from 1st April 2025 onwards. I currently have a personal and a shared CIMB FastSaver account with my spouse with CIMB Bank.
Why is CIMB revising their prevailing interest rates? As shared in my past few posts, Singapore Overnight Rate Average (SORA) interest rates have been dipping over the past few months. Amidst of this environment, CIMB Bank are making slight revisions in their SGD Deposit Accounts.
If you didn’t know, Singapore Overnight Rate Average (SORA) fell to 2.0822 per cent on 13th March 2025, the lowest since December 2022. What is SORA? SORA is the volume-weighted average rate of unsecured overnight interbank SGD transactions in Singapore. In Singapore, bank interest rates, particularly for loans and savings products such as fixed deposits, are being determined by SORA.
How is the impact of the interest rates revision going to affect me? As you can see from the table for CIMB FastSaver/FastSaver-i Account below, the next S$25,000 above S$50,000 earns an interest rate of 3.30% per annum. From 1st April 2025 onwards, the interest rate for this tier will be reduced to 2.70% per annum. This is a reduction of 0.60% per annum.
| Current Rates | Rates Effective From 1st April 2025 onwards | ||
| Account Balance | Interest rates (p.a.) | Account Balance | Interest rates (p.a.) |
| First S$25,000 | 1.19% | First S$25,000 | 1.19% |
| Next S$25,000 | 2.19% | Next S$25,000 | 2.09% |
| Next S$25,000 | 3.30% | Next S$25,000 | 2.70% |
| Above S$75,000 | 0.80% | Above S$75,000 | 0.80% |
Please refer to Revision of Interest/Profit Rates for Singapore Dollar (SGD) Deposit Accounts from 1 April 2025 for other Singapore Dollar Deposit accounts that are affected by this interest rates revision.
Now, where is the next alternative place to park your money? Previously, I have wrote a few posts on other high yielding saving accounts. My favourite is still the UOB Stash Account where you can earn 5.00% per annum for the next S$30,000 above 70K.
UOB Stash Account Interest Rate
| Monthly Average Balance | Base interest (p.a.) | Bonus interest (p.a.) | Total interest (p.a.) |
| First S$10,000 | 0.05% | 0.00% | 0.05% |
| Next S$30,000 | 0.05% | 1.95% | 2.00% |
| Next S$30,000 | 0.05% | 2.95% | 3.00% |
| Next S$30,000 | 0.05% | 4.95% | 5.00% |
| Above S$100,000 | 0.05% | 0.00% | 0.05% |
GSX Digital Bank
Another alternative is GSX Digital Bank. The main account pays an interest rate of only 2.08% per annum. However, the GSX saving Pockets earn you 2.38% per annum and the boost pocket earns you 2.88% per annum.
BOC SuperSaver
| Account Balance | Interest Rate (p.a.) |
| First S$20,000 | 1.50% |
| Next S$40,000 | 2.20% |
| Next S$40,000 | 3.60% |
| Above S$100,000 | 1.20% |
The third alternative is BOC SuperSaver where Bank of China pays you 3.60% per annum for the next S$40,000 above 60K.
If none of the above works for you, then do continue to park your cash with CIMB FastSaver as CIMB Bank shared that they will review the interest again when the market improves.