Citibank Maxigain Savings Account

nana91

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Went to Tampines branch yesterday wanting to open a joint account but was informed of the upcoming new changes to the plan from November 2018. Was told that in order to earn BOTH base interest and bonus interest, there must be min $70k in the account. For amounts < $70k, the account will only earn the current bonus interest (i.e counter 1 0.1%, counter 2 0.2% etc) and there is no base interest earned. Also, the base interest for those with min $70k will only become 70% of Sibor (compared to the current 80%).

Feeling very sians cos I just open a single account 2 months back and only at counter 2 this month. I am also unable to meet a min $70k in November. For my case, the interest earned is really pathetic. Any alternatives to consider, pls. Would appreciate any advice.
 

a4973

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Went to Tampines branch yesterday wanting to open a joint account but was informed of the upcoming new changes to the plan from November 2018. Was told that in order to earn BOTH base interest and bonus interest, there must be min $70k in the account. For amounts < $70k, the account will only earn the current bonus interest (i.e counter 1 0.1%, counter 2 0.2% etc) and there is no base interest earned. Also, the base interest for those with min $70k will only become 70% of Sibor (compared to the current 80%).

Feeling very sians cos I just open a single account 2 months back and only at counter 2 this month. I am also unable to meet a min $70k in November. For my case, the interest earned is really pathetic. Any alternatives to consider, pls. Would appreciate any advice.

so for amounts > $70k, will it also be 70% of Sibor?
 

Sinkie

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Went to Tampines branch yesterday wanting to open a joint account but was informed of the upcoming new changes to the plan from November 2018. Was told that in order to earn BOTH base interest and bonus interest, there must be min $70k in the account. For amounts < $70k, the account will only earn the current bonus interest (i.e counter 1 0.1%, counter 2 0.2% etc) and there is no base interest earned. Also, the base interest for those with min $70k will only become 70% of Sibor (compared to the current 80%).

Feeling very sians cos I just open a single account 2 months back and only at counter 2 this month. I am also unable to meet a min $70k in November. For my case, the interest earned is really pathetic. Any alternatives to consider, pls. Would appreciate any advice.

Next time ask them write black and white for u and ask the bank branch manager to sign and acknowledge lah
 

Buzy_bee

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Went to Tampines branch yesterday wanting to open a joint account but was informed of the upcoming new changes to the plan from November 2018. Was told that in order to earn BOTH base interest and bonus interest, there must be min $70k in the account. For amounts < $70k, the account will only earn the current bonus interest (i.e counter 1 0.1%, counter 2 0.2% etc) and there is no base interest earned. Also, the base interest for those with min $70k will only become 70% of Sibor (compared to the current 80%).

Feeling very sians cos I just open a single account 2 months back and only at counter 2 this month. I am also unable to meet a min $70k in November. For my case, the interest earned is really pathetic. Any alternatives to consider, pls. Would appreciate any advice.

Here we go again? The rumor has been ongoing for months
 

maumu

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not sure if i'm missing some knowledge. I tot US just raised their rates yesterday, so interest rates should be going north? so why the drop to 0.7*SIBOR from 0.8*SIBOR? so they can keep the amount of interest more or less the same?

hopefully that part is not true...
 

kehyi4

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Reading this thread + my personal experience with Citi tells me that most of the time, the Citi salesmen don't know what the sh*t they are talking about, esp for maxigain. I wouldn't rely on anything they say until it appears in the TnC on the website

Sent from null using GAGT
 
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af7680

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For opening this account , do i need to bring some cash along or zero cash needed meaning i can do FAST on the same day?
 

myename

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Went down to Citi to open an account and asked if I could FAST the money in, the salesperson said yes, IF i signed up for credit cards...
 

shpesft

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No need to sign up for credit card but you do need at least a Debit Card for Citibank internet banking. No need cash or cheque to open this account. Can Fast in once account is opened.
 

af7680

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Thank you. Opening today.

No need to sign up for credit card but you do need at least a Debit Card for Citibank internet banking. No need cash or cheque to open this account. Can Fast in once account is opened.

Went down to Citi to open an account and asked if I could FAST the money in, the salesperson said yes, IF i signed up for credit cards...
 

LexusIS

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Went down to Citi to open an account and asked if I could FAST the money in, the salesperson said yes, IF i signed up for credit cards...

Lol that’s funny...... Guess the answer u receive will depend on who is serving you. (Probably a cards sales person then, if Citigold acquisition manager the answer will be different)
 

ixora2007

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if my interest is $100+ every month, it is ok to use it to pay my citibank credit card bill of less than $100? i assume it does not affect the interest?

i just realised i can't do a transfer to other bank as it is not setup and i do not have the hardware token.
 

ngbc

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Talking about hardware token...
Does anyone here using Citi Mobile Token, a feature within the Citi Mobile App? Is it a replacement for hardware token and can use to create new payee ?
 

swordsly

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Talking about hardware token...
Does anyone here using Citi Mobile Token, a feature within the Citi Mobile App? Is it a replacement for hardware token and can use to create new payee ?

Citibank no longer has physical tokens.
And yes, that Citi Mobile Token replaces it. So yes you use it to authenticate the payee adding as well.
 
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