Citibank Maxigain Savings Account

LexusIS

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lol i just opened new acct on Monday at Macdonald's hse branch, the guy who opened my acct didnt say anything. but maybe becuase i was already v black face. i went in the morning to open but didnt bring NRIC (thought drivers license is good enough) but the guy say cannot, so i had to go home n take IC and go back to the branch so was jin fed up already.

The KYC requirement is really strict. Don’t think any bank allow opening of account with driver licence. Passport for foreigners allowed but need to be supplemented by proof of mailing address.
 

InvincibleTofu

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Ok la I opened an account at WWP yesterday.

I think it's a no brainer as long as you have sufficient funds to transfer in if they change T&Cs suddenly.
 

maumu

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'
but i was told by the staff that any withdrawal will go back to the original based rate - not even interest from monthly too.

u should report his/her name to the bank. just another ill-competent worker giving wrong information to customers. what he/she was saying is equivalent/similar to putting money into a fixed deposit.

all of us who have been withdrawing the monthly interest have done so without any loss of counter.
 

dreant

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today safe to withdraw the interest portions credited right?

You can safely withdraw last month's interest (that posted in your account on the 1st of this month) any day this month. Your counter will not reset if you do.
 

foxer77

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Check with you guys . If u hit the max saving at 150k what would be your monthly interest be?
 

ixora2007

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u should report his/her name to the bank. just another ill-competent worker giving wrong information to customers. what he/she was saying is equivalent/similar to putting money into a fixed deposit.

all of us who have been withdrawing the monthly interest have done so without any loss of counter.

i had the same answer from the counter staff too...till i asked her a 2nd or 3rd time then she called someone to verify.
So she learned a new lesson that day about this interest withdrawal while i was standing there listening to her lesson.
 

shadowrains

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Check with you guys . If u hit the max saving at 150k what would be your monthly interest be?

At counter 12, 150k x 1.2% / 12 = 150 (estimate; since actual interest calculated using days not month)

0.8% sibor is currently slightly higher than 1.2% I believe, so about $150 +-

Total $300 +- per month if maintain at 150k
 

foxer77

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saw the monthly letter mail in was always in 2 section of the interest paid.

but they didnt mention how it was calculated

And what im getting in interest seem shortchange.

is it maybe because during certain day s of the month i bank in some money?
 
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foxer77

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will stop banking in money to see next month will the interest be accurate.
 

JuniorLion

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saw the monthly letter mail in was always in 2 section of the interest paid.

but they didnt mention how it was calculated

And what im getting in interest seem shortchange.

is it maybe because during certain day s of the month i bank in some money?

This website tells you exactly how bonus interest and base interest are calculated. Do take some time to read through it.

https://www.citibank.com.sg/gcb/deposits/mxgn-savacc.htm
 

havetheveryfun

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This website tells you exactly how bonus interest and base interest are calculated. Do take some time to read through it.

https://www.citibank.com.sg/gcb/deposits/mxgn-savacc.htm

obviously he already knows that and calculated and feels that his calculation is wrong/he is being shortchanged, that's why he asked that question.

just because the website shows you how to calculate doesn't mean everyone knows or understand the proper way to calculate it, especially when there are uneven days in a month (30/31) and other factors.

or not everyone is as smart as you to know how to calculate it properly.
 

havetheveryfun

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saw the monthly letter mail in was always in 2 section of the interest paid.

but they didnt mention how it was calculated

And what im getting in interest seem shortchange.

is it maybe because during certain day s of the month i bank in some money?

maybe post the exact amt of interest u got and ur balance and maybe someone helpful will be able to help you double check instead of asking you to check the T&Cs.
 
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