Citibank Maxigain Savings Account

dreant

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Hi so now is 80% of 1.50208 for the sibor?

Is the MaxiGain T&C really that difficult to understand? :s22:

Citi MaxiGain Account Terms & Conditions

1.A base interest rate(“Base Interest Rate”) equivalent to 80% of the 1-monthSingapore Dollar Singapore Interbank Offer Rate (“1-month SIBOR”) will be paid on the first S$150,000 in the daily balance of your MaxiGain account. For example, if 1 month SIBOR is 1%p.a., the Base Interest Rate shall be 0.8%p.a.

2.The Base Interest Rate will fluctuate daily in accordance to the movement of 1 month SIBOR. For any day that is a weekend or a public holiday,the Base Interest Rate of the immediately preceding Business Day shall apply. “Business Day” refers to any day on which banks are open for business in Singapore other than Saturday, Sunday and gazetted public holidays in Singapore.

3.“1 month SIBOR rate” refers to the previous Business Day’s 1 month SIBOR rate displayed on Page BTMM on the monitor of the Bloomberg agency under the caption “TREASURY AND MONEY MARKETS: SINGAPORE” and under the column headed “SGD”. In the event that the 1 month SIBOR rate is not available on Bloomberg as described on the said date, then the Bank may obtain the same from a different source, or substitute the same with such other rates as the Bank may in its absolute discretion deem fit.
 

Panerex

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Hi all

I am new to this.

So for a new joiner with only let’s say $100K and do not want to bother close monitoring, the easist way is to put the $100K and let it continue ride up the steps?
 

oceanicmanta

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Hi all

I am new to this.

So for a new joiner with only let’s say $100K and do not want to bother close monitoring, the easist way is to put the $100K and let it continue ride up the steps?

yes.

alternatively, start with just 15k, then let counter accumulate to a certain point, then top up to 100k - this is provided your 85k can earn better than 1.2% (ie 80% sibor) elsewhere.
 

Panerex

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yes.

alternatively, start with just 15k, then let counter accumulate to a certain point, then top up to 100k - this is provided your 85k can earn better than 1.2% (ie 80% sibor) elsewhere.


Thanks Oceanic.

Just for affirmation: if I am able to fulfil the critteria for UOB ONE and DBS Multiplier, it will be more worthwhile as compared to this maxigain account right?
 

Sinkie

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Thanks Oceanic.

Just for affirmation: if I am able to fulfil the critteria for UOB ONE and DBS Multiplier, it will be more worthwhile as compared to this maxigain account right?

Put $70,000 in Uob one and $50,000 in Dbs multiplier

Balance and salary put in Citi maxigain every month to grow until $150,000
 

pinpinpin

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Thanks Oceanic.

Just for affirmation: if I am able to fulfil the critteria for UOB ONE and DBS Multiplier, it will be more worthwhile as compared to this maxigain account right?

Yes. Currently Dbs, uob, maybank , boc all offering good rates provided u meet the requirements.
 

oceanicmanta

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Thanks Oceanic.

Just for affirmation: if I am able to fulfil the critteria for UOB ONE and DBS Multiplier, it will be more worthwhile as compared to this maxigain account right?

if u r getting the 3.5% tier on DBS Multiplier then yes ;)

everyone has their own unique combination of accounts that best suits them

regardless, I feel it is worth parking 15k in MaxiGain now to start the counter rolling
 

htngwilliam

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Can just read the T&C. Self-explanatory.

I read but I saw the brochure indicating as up to 2% hence I ask this question. I feel this looks interesting because typical saving (principal guarantee like one and DBS multiplier) difficult to hit 3.5%. A lot of criteria
 

little pupsky

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You need to read the fine print then. The 2%, says the fine print, is for illustration purposes only.

I read but I saw the brochure indicating as up to 2% hence I ask this question. I feel this looks interesting because typical saving (principal guarantee like one and DBS multiplier) difficult to hit 3.5%. A lot of criteria
 
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