Citibank Maxigain Savings Account

moonstone85

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Opened an acc for my mom in jul was told 70k minimum in oct. opened one myself today, staff kept telling me about 70k minimum from Jan. When I ask for official letter he say they will send email soon. He’s just informing his customer in advance. Super annoying when their own staff keep spouting inaccurate nonsense.
 

demoforce1

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Opened an acc for my mom in jul was told 70k minimum in oct. opened one myself today, staff kept telling me about 70k minimum from Jan. When I ask for official letter he say they will send email soon. He’s just informing his customer in advance. Super annoying when their own staff keep spouting inaccurate nonsense.

sad for citi as a brand
 

flyboy

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bonus interest on lowest balance

Intending to do a top up under the new funds topup promo for existing customers.

Read thru the TnC again to gain a better understanding.

https://www.citibank.com.sg/gcb/deposits/pdf/MaxiGainTnC.pdf

So now i gather that if I have $10,000 for ONE day of the month, and even if for the remaining days of the month I have $150,000, the bonus interest is only paid for $10,000 because that day was the 'lowest balance'. ("The lowest balance of the month that your Maxigain account is opened will be the lowest amount of funds in your MaxiGain account at any point in time in that month").

Someone has defined "any point in time" as the sum of end of day balance. I hope its true and not literally "at any one time".

This account has been working well for me so far and it is the best way to earn high interests fuss-free without salary credit, bill payment and credit card spending to monitor. I believe this is most suitable for people who just wants to dump the money there and slowly let it compound by itself to $150,000.
 

JuniorLion

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Intending to do a top up under the new funds topup promo for existing customers.

Read thru the TnC again to gain a better understanding.

https://www.citibank.com.sg/gcb/deposits/pdf/MaxiGainTnC.pdf

So now i gather that if I have $10,000 for ONE day of the month, and even if for the remaining days of the month I have $150,000, the bonus interest is only paid for $10,000 because that day was the 'lowest balance'. ("The lowest balance of the month that your Maxigain account is opened will be the lowest amount of funds in your MaxiGain account at any point in time in that month").

Someone has defined "any point in time" as the sum of end of day balance. I hope its true and not literally "at any one time".

This account has been working well for me so far and it is the best way to earn high interests fuss-free without salary credit, bill payment and credit card spending to monitor. I believe this is most suitable for people who just wants to dump the money there and slowly let it compound by itself to $150,000.

Lowest is the lowest EOD, but who knows what is EOD. Someone said 2300 hour is EOD and not 2359. So DYODD, please.
 

dreant

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So now i gather that if I have $10,000 for ONE day of the month, and even if for the remaining days of the month I have $150,000, the bonus interest is only paid for $10,000 because that day was the 'lowest balance'. ("The lowest balance of the month that your Maxigain account is opened will be the lowest amount of funds in your MaxiGain account at any point in time in that month").

Yes, this is correct.

Someone has defined "any point in time" as the sum of end of day balance. I hope its true and not literally "at any one time"

Not so much that 'someone has defined', but that some people have said bank staff told them that it's the EOD balance; that said, the TOC is worded such that it doesn't have to be, and can be the lowest balance at any point in time during the entire month - but even if that was true, it doesn't really matter to most people anyway.
 

flyboy

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Yes, this is correct.



Not so much that 'someone has defined', but that some people have said bank staff told them that it's the EOD balance; that said, the TOC is worded such that it doesn't have to be, and can be the lowest balance at any point in time during the entire month - but even if that was true, it doesn't really matter to most people anyway.

I am just thinking of the scenario where in a single day, I FAST out say $30K, but then I FAST IN $100K. Net increase in that day's balance is $70K, but going by the "any point in time" definition, the bank might only award me the "lowest balance" after the FAST OUT, and might also drop my bonus interest steps.?
 

flyboy

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the last I checked, fresh fund top up promo not applicable to maxigain ... just take note

Thanks for the headsup, I noticed it now.

"Funds credited into cash management account, Citi MaxiGain Savings account, and SGD time deposit account
where such time deposit has an interest rate of one (1) per cent or higher will not count towards a “Top Up”."
 

oceanicmanta

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Thanks for the headsup, I noticed it now.

"Funds credited into cash management account, Citi MaxiGain Savings account, and SGD time deposit account
where such time deposit has an interest rate of one (1) per cent or higher will not count towards a “Top Up”."

speak to your Personal Banker or RM ... they may be able to obtain an approval from their higher-ups and grant you an exception. have that in B&W.

have to monitor the award crediting after required holding period bcos it will require a manual instruction again from PB/RM to relevant team to credit award

just sharing
 

kurtgoh

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yes ... but only after 10 to 12 months (assuming nothing else changes)

if u have 15k to spare, my advice is start now, sit back and let the counters clock

thats good, i have started since year start, place around 50k, average is like $70 per month as interest.
 

Azzizz81

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Is it only can be applied physically at bank? How to transfer from OCBC account after?

I remember I applied online, a lady called me and asked me to go to a branch to open the account
I FAST the amount from OCBC online

Posted from PCWX using Nokia 3310
 

DriftKing

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I remember I applied online, a lady called me and asked me to go to a branch to open the account
I FAST the amount from OCBC online

Posted from PCWX using Nokia 3310

Thanks! So means still have to go down branch personally...
 

shpesft

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Yes. Need to go down to the branches to set up the account. I would suggest going to the bigger branches and ignore those smaller ones at MRT. Personally, I had issues opening the account at the Woodlands MRT branch as well as the Waterway Point branch. Had to go down to the one at MacDonald house to get the accounts opened.

Thanks! So means still have to go down branch personally...
 
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