Citibank Maxigain Savings Account

Ginnylim07

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I see. Thank you @buzy_bee and @artemov

If I want to withdraw some money after I reached counter 12, what will I lose?
 

kennethtbh

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I see. Thank you @buzy_bee and @artemov

If I want to withdraw some money after I reached counter 12, what will I lose?

if the lowest balance in the acct after u withdraw is less than previous mth's lowest balance, ur counter will drop to 6. i.e. 0.6% instead of 1.2%. so u will lose 0.6% interest in that mth. can slowly build back up to counter 12 again after that.
 

Ginnylim07

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if the lowest balance in the acct after u withdraw is less than previous mth's lowest balance, ur counter will drop to 6. i.e. 0.6% instead of 1.2%. so u will lose 0.6% interest.
I see. Thank you. So does that mean the money inside is not to be touched at all? Just to earn interest?
 

kennethtbh

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I see. Thank you. So does that mean the money inside is not to be touched at all? Just to earn interest?

to maximise the interest earned currently, most pple here will let it accumulate to counter 12, then pump in up to $150k and just withdraw the interest earned every mth to maintain the counter at 12. u can still touch the money if u need it, just have to build up the counter again after that. the "penalty" is more on subsequent interest earned as it will be lesser until the counter gets back to 12 again.
 

grenoble

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to maximise the interest earned currently, most pple here will let it accumulate to counter 12, then pump in up to $150k and just withdraw the interest earned every mth to maintain the counter at 12. u can still touch the money if u need it, just have to build up the counter again after that. the "penalty" is more on subsequent interest earned as it will be lesser until the counter gets back to 12 again.


in addition you could also start to load in after you reach 6 or 7 counters, which adds up to around 1.8-1.9 , which is also around the highest paying FDs in the market currently
 

rerear

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Can my current counter be checked in internet banking?

Posted from PCWX using LG-H870DS
 

agmayu

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My wife and I both have individual maxigain accounts. Is there any way to open another maxigain account in the same name? Can we now open an additional joint account?
 

shpesft

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My wife and I both have individual maxigain accounts. Is there any way to open another maxigain account in the same name? Can we now open an additional joint account?

You can open a joint Maxigain account, no issues. Go to a branch with more knowledgeable staff. The McDonald building branch did it for me even though the Woodlands and Punggol branches told me it couldn’t be done.
 

agmayu

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You can open a joint Maxigain account, no issues. Go to a branch with more knowledgeable staff. The McDonald building branch did it for me even though the Woodlands and Punggol branches told me it couldn’t be done.

Thanks mate. Went to Capital Square branch earlier today and they opened a joint account with zero fuss.
 

knightcover

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Punggol branch really low ses, even the staff also buay kan. Open account can take 1.5h. Pui.

Sent from Samsung Note 8 using GAGT
 

Urbanchap

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Maxi-Gain acct now requires min 70K to earn bonus interest, instead of 10K for new accounts. Cap is still 150K. They will be mailing existing clients next month of the new min requirement.
 

LexusIS

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Maxi-Gain acct now requires min 70K to earn bonus interest, instead of 10K for new accounts. Cap is still 150K. They will be mailing existing clients next month of the new min requirement.

Hmmmm if they mail next month means most likely it will only take effect on 1st Dec. As they will probably give a month notice period.
 

LexusIS

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Punggol branch really low ses, even the staff also buay kan. Open account can take 1.5h. Pui.

Sent from Samsung Note 8 using GAGT

Guess is just their account opening process? Opened a joint account with my Wife last mth and it took an hour too. Part of the confusion was trying to sort out the minimum required for me which took a while. After that was smooth.

Initially was told I needed S$250k for the new joint account as existing account is one relationship with one RM servicing it and the new joint account with me as main will be a new relationship with another RM assigned.

Anyway they sorted it out, I opened the account with $10k balance. But can’t imagine needing to deal with dunno how many RMs if I have like 2 or 3 joint accounts, eg with Wife, parents, kids etc
 
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