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Old 29-02-2016, 10:23 PM   #48
wira
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Join Date: May 2000
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Radio today was advertising this new savings account from Citibank.

Basically, you are paid a base interest which is 80% of the 1-month SIBOR rate. For every month, you get bonus interest starting from 0.1% after 1st month, until max of 1.2% after 12 months. Account balance cannot be taken out, else the bonus interest resets. Either maintain same balance or increase balance.

Sounds very interesting as you could potentially get up to 2% yet able to withdraw money any time without penalty, unlike a fixed deposit.

https://www.citibank.com.sg/gcb/depo...xgn-savacc.htm
Hi
Anyone knows if 1 math SIBOR goes up for eg 1.5% does it mean base rate will become 1.2 % ? So total can get > 2% ?

What happens after 13 mths ? Gets perpetual 0.8 of SIBOR + 1.2% ??
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