Citibank Maxigain Savings Account

[tmkedmw]

Interesting, so they've already calculated lowest balance for December, in order to pay out the bonus interest. So if you transfer money out today, they'll count it as your balance for Jan18 dropped, instead of Dec17? Hmm...

1. whether bonus interest for Dec is credited on 30th or 31st Dec, it does not affect the lowest balance for December.

2. if one FAST out money from maxigain today, the posting date should be 2 Jan 2018. Anyway, one will not FAST out a large sum, at most the $250 interest (assuming $150k principal). So why take the risk of FAST out on 31st Dec? Might as well do it next year

Bottom line is really nothing significant has changed. Those who want to withdraw the Dec interest can do it next month rather than today.
No different from what they had been doing for other months.

 

[sgdividends]

It seems the last day to fast transfer is on 29 Dec. It is posted already.

I fast transfered anothrt again on 30 Dec. Not posted yet

 

[tmkedmw]

It seems the last day to fast transfer is on 29 Dec. It is posted already.

I fast transfered anothrt again on 30 Dec. Not posted yet

30Dec is a Sat and it should be posted. However, there is a cut off time on Sat, perhaps u transferred later than cut off time.

 

[maumu]

It seems the last day to fast transfer is on 29 Dec. It is posted already.

I fast transfered anothrt again on 30 Dec. Not posted yet

just curious, what time did you do the fast transfer on Saturday? want to know the cut-off time for them to post a Saturday transaction.

but to be safe, it's best to do all sorts of transactions on working days. maybe better if it's before 5pm or something. banks could be more transparent about this I think...

 

[sgdividends]

just curious, what time did you do the fast transfer on Saturday? want to know the cut-off time for them to post a Saturday transaction.

but to be safe, it's best to do all sorts of transactions on working days. maybe better if it's before 5pm or something. banks could be more transparent about this I think...

Hmm can't remember leh..
Definitely before 11am on Saturday though

 

[shpesft]

Hmm can't remember leh..
Definitely before 11am on Saturday though

To be safe, I did the transfer on 29 (Friday). I was worried the Saturday transaction won’t be posted on time

 

[savinmax]

if 11am on Sat, should be okay, probably be reflected later as 30 Dec , maybe by 2nd Jan..

 

[sgdividends]

if 11am on Sat, should be okay, probably be reflected later as 30 Dec , maybe by 2nd Jan..

Eh wait...sorry ...

It's reflected 30 dec tranfer is reflected on 30 dec when I logged on...just below the bonus intest earned and interest earned

 

[compro_1975]

MaxiGain needs to maintain a daily end of day balance of at least S$10,000 in the account to earn base interest. means can i have a balance of 2k for 12 months later i pour in my funds and pump in money at the end of counter 12?

got a large purchase on the way soon.....

 

[ngbc]

MaxiGain needs to maintain a daily end of day balance of at least S$10,000 in the account to earn base interest. means can i have a balance of 2k for 12 months later i pour in my funds and pump in money at the end of counter 12?

got a large purchase on the way soon.....

See quote:

I see some slightly inaccurate info posted:

"fund on first day of the month to earn interest"
- only Bonus interest is based on "lowest monthly balance". Base interest is based on "daily balance". so if you fail to fund on first day, it delays your step-up counter & Bonus interest, but the money will earn Base interest

"max amount is 150k"
- 150k is the ceiling to earn Base interest. Bonus interest got no ceiling. Thus, amt above 150k earns Bonus interest (1.2% if you have 12 step-up counters) + 0.05% default Base interest

There is a minimum balance to earn Base interest - 10k. Below 10k you get zero Base interest

However, Citibank requires a Total Relationship Balance of 15k to avoid service fee of $15 per mth, so best is to make sure you have at least 15k with Citi

 

[maumu]

Eh wait...sorry ...

It's reflected 30 dec tranfer is reflected on 30 dec when I logged on...just below the bonus intest earned and interest earned

oh, so you FAST at around 11am on Saturday (30 Dec) and it was posted later that day? that's good news - it means it is possible to FAST on a Saturday (but has to be morning I supposed).

maybe i'll ask the bank one day what exactly is the cut-off time...

 

[ixoral]

I think you mah have quoted the wrong monthly figure. I have a similar question:
If I maintain 15k + interest in my maxigain account till counter 12, will the lump sum I pour in after that enjoy the maximum interest subsequently?

MaxiGain needs to maintain a daily end of day balance of at least S$10,000 in the account to earn base interest. means can i have a balance of 2k for 12 months later i pour in my funds and pump in money at the end of counter 12?

got a large purchase on the way soon.....

 

[mikezuper]

I think you mah have quoted the wrong monthly figure. I have a similar question:
If I maintain 15k + interest in my maxigain account till counter 12, will the lump sum I pour in after that enjoy the maximum interest subsequently?

Yes thats correct.

 

[soho87]

hi guys,

i would like to check. is it better for me to set up the account today( 1st jan) or better to set up towards the end of the month? meaning if i set up today, will there be any interest till mnth end? or should i set up the acc at mnth end sk that next mnth striaght away got bonus interest? thanx

 

[ltvp.paladin]

i manage to open the acc online.abit of hassle but do able.
first sign up online, then received email asking me to call hotline to sign up.
called up and proceed with the procedure, verification and told me the acc will be ready..after some time didnt see the acc appear in the internet banking, called up again.this time maybe they connect to the right department, the acc been setup after 3 days without i need to visit the branch.definitly not the best exp to open an acc online..

https://imgur.com/a/iOKvW

For those who open account online (or delayed opening, i.e. didn't open on the day), how did you receive your account number, password, and credit card?

By email or snail mail?

 

[maumu]

hi guys,

i would like to check. is it better for me to set up the account today( 1st jan) or better to set up towards the end of the month? meaning if i set up today, will there be any interest till mnth end? or should i set up the acc at mnth end sk that next mnth striaght away got bonus interest? thanx

don't think u can open account today... banks are closed. it is better to open account near month end unless you managed to fund the account immediately upon account opening (on the same day).

 

[Buzy_bee]

Anyone can advise? I reread the email but never mentioned about continuity.


"Exclusively for you, enjoy 3 additional counters jump the next month when you accumulate new funds of minimally S$50,000 in your Citi MaxiGain Savings Account within the same month from now till 31 December 2017."

Anyone having and using this promo? Didn't notice any counter jump

 

[Alex_Chua]

1. whether bonus interest for Dec is credited on 30th or 31st Dec, it does not affect the lowest balance for December.

2. if one FAST out money from maxigain today, the posting date should be 2 Jan 2018. Anyway, one will not FAST out a large sum, at most the $250 interest (assuming $150k principal). So why take the risk of FAST out on 31st Dec? Might as well do it next year

Bottom line is really nothing significant has changed. Those who want to withdraw the Dec interest can do it next month rather than today.
No different from what they had been doing for other months.

Haha was just wondering out of curiosity; I won't actually be transferring money out

 

[sango65]

Anyone having and using this promo? Didn't notice any counter jump

Will be reflected in Jan 2018 statement

 

[Buzy_bee]

Will be reflected in Jan 2018 statement

Noted. Thank you.
Called CSO last month to clarify on this promo but CSO was also unaware of this promo.