From 5th August 2025, CIMB will revise interest rates across its Singapore Dollar (SGD) deposit accounts. The affected savings accounts are CIMB FastSaver, FastSaver-i Account, CIMB StarSaver, StarSaver-i, StarSaver (Savings), StarSaver (Savings)-i Account and CIMB Junior Saver Account. 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? Similar to OCBC 360 account and GXS Digital Bank, CIMB is revising the interest rates to keep pace with the current market conditions. SORA has been on the downtrend over the past 3 months and banks used SORA as its key interest rate benchmark for Singapore dollar interest rate contracts.
Do you know what is SORA? Many years ago, SORA has replaced the Singapore Interbank Offered Rate (SIBOR), and Swap Offer Rate (SOR) as the key interest rate benchmark for Singapore dollar (S$) interest rate contracts. SORA is calculated and administered by the Monetary Authority of Singapore (MAS). It is published as a daily rate and a series of 1-month, 3-month and 6-month compounded rates on the MAS website.
How is the impact of the interest rates revision going to affect me? Below, I highlighted the interest rates for each tier that is going to be revised from 5th August 2025.
CIMB FastSaver/FastSaver-i Account
| Current Rates | Rates Effective From 5th August 2025 onwards | ||
| Account Balance | Interest rates (p.a.) | Account Balance | Interest rates (p.a.) |
| First S$25,000 | 1.19% | First S$25,000 | 0.88% |
| Next S$25,000 | 2.09% | Next S$25,000 | 1.78% |
| Next S$25,000 | 2.70% | Next S$25,000 | 2.50% |
| Above S$75,000 | 0.80% | Above S$75,000 | 0.80% |
CIMB StarSaver/StarSaver-i/StarSaver (Savings)/StarSaver (Savings)-i Account
| Current Rates | Rates Effective From 5th August 2025 onwards | ||
| Account Balance | Interest rates (p.a.) | Account Balance | Interest rates (p.a.) |
| First S$100,000 | 1.19%/ 1.24%* | First S$100,000 | 0.88%/ 0.93%* |
| Next S$150,000 | 2.09%/ 2.14%* | Next S$150,000 | 1.58%/ 1.63%* |
| Next S$750,000 | 2.70%/ 2.75%* | Next S$750,000 | 2.38%/ 2.43%* |
| Next S$4,000,000 | 2.70%/ 2.75%* | Next S$4,000,000 | 1.50%/ 1.55%* |
| Above S$5,000,000 | 0.80%/ 0.85%* | Above S$5,000,000 | 0.80%/ 0.85%* |
CIMB Junior Saver Account
| Current Rates | Rates Effective From 5th August 2025 onwards | ||
| Account Balance | Interest rates (p.a.) | Account Balance | Interest rates (p.a.) |
| First S$5,000 | 2.19% | First S$5,000 | 2.19% |
| Next S$20,000 | 2.19% | Next S$20,000 | 2.19% |
| Next S$25,000 | 2.70% | Next S$25,000 | 2.50% |
| Above S$50,000 | 0.80% | Above S$50,000 | 0.80% |
Please refer to Revision of Interest/Profit Rates for Singapore Dollar (SGD) Deposit Accounts from 5th August 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? For now, I can only bet on UOB will not be slashing the interest rates for its UOB Stash Account. Alternatively, consider these high interest savings accounts.
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Disclaimer: This is Not a sponsored post, and the opinions are solely based on My Sweet Retirement’s own research and opinion.