Citibank Maxigain Savings Account

harky

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ok i am abit confuse... so the new rule in 2019,

min 15k, still can earn interest of the counter 0-12 ?

Citi min is only 15k... can get bonus counter alr which is 1.2% if you alr at counter 12...

If you got 70k in citi it'll be earning alot more than 1.2%... about 2+%
 

compro_1975

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taking at sibor can hit 1.7%, 70% of 1.7% is about 1.2% so citi wins, for this is how i see it
 

compro_1975

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Provided have $70k

Oh ya... so we should look at bonus rate... which is also 1.2% since he is counter 12

4) What interest will I earn if I have less than S$70,000 in Maxigain from 2 January 2019 onwards?
Bonus Interest Rate shall apply provided requirements are met. See Question 8.
 

Panerex

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Just to be sure in 2019, if I just maintain $15K, I will not receive any bonus interest?

But my counter can keep increasing month on month?
 

Trazora

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Just to be sure in 2019, if I just maintain $15K, I will not receive any bonus interest?

But my counter can keep increasing month on month?
Still receive bonus interest based on counter for $0.01 to $150k.
Min $15k to avoid fall below fee.
Min $70 to earn base interest
 

pinpinpin

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I’m currently at counter 5.

I have been growing at 15k.

By next month I will be st counter 6. If I fall below or lower than 15k, my counter will still fix at counter 6?

If I pump to 70k, what is the interest rate I’m looking at?

Hope to hear some advice. Thanks.
 

Boy who Procrastinates

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I’m currently at counter 5.

I have been growing at 15k.

By next month I will be st counter 6. If I fall below or lower than 15k, my counter will still fix at counter 6?

If I pump to 70k, what is the interest rate I’m looking at?

Hope to hear some advice. Thanks.

Yes if you have reached Counter 6, there is a safety net at Counter 6 which you can withdraw from your account without resetting the counter.

Currently, the SIBOR is at 1.64125% so the base interest rate can be approximately 1.15% from 2 Jan. You can sum this and the bonus interest rate based on the counter that you are at to derive the total interest rate.

Wrote a piece on the revision to help provide clarity
https://theboywhoprocrastinates.blogspot.com/2018/12/revision-of-interest-rates-for-citi.html
 

harky

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:s22::s22 i refer ppl who dont have 70K!


Oh ya... so we should look at bonus rate... which is also 1.2% since he is counter 12

4) What interest will I earn if I have less than S$70,000 in Maxigain from 2 January 2019 onwards?
Bonus Interest Rate shall apply provided requirements are met. See Question 8.
 

pinpinpin

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Yes if you have reached Counter 6, there is a safety net at Counter 6 which you can withdraw from your account without resetting the counter.

Currently, the SIBOR is at 1.64125% so the base interest rate can be approximately 1.15% from 2 Jan. You can sum this and the bonus interest rate based on the counter that you are at to derive the total interest rate.

Wrote a piece on the revision to help provide clarity
https://theboywhoprocrastinates.blogspot.com/2018/12/revision-of-interest-rates-for-citi.html

Well written !!!!


Thanks for info !
 

beast

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Howcome I am only earning around $17 more interest when topping 70k base to 90k. Is that the norm?
 

JetStorm

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Howcome I am only earning around $17 more interest when topping 70k base to 90k. Is that the norm?
If i recall, bonus is based on the lowest balance of the previous month.

Sent from Samsung SM-G950F using GAGT
 

hlw8888

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got abt 15k inside the maxigain acct. on counter 4 (nov). thou not able to up to 70k, think will juz continue this acct.

1.2% still better than normal 0.05% bah... :o
 

kyiori

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did anyone received letter from Citibank to top up 70k in order to earn base interest for existing customers?
 

jnashville

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did anyone received letter from Citibank to top up 70k in order to earn base interest for existing customers?

did not check, however i called up citibank cso. i have 2 accounts, each had 15k previously as i wanted to wait till counter hits 12. now its at the 11th counter.

the CSO advised me to transfer the 15k from one account to another on 1st January 2019 (after getting the rebates for Dec 2018 on 31st Dec). Then, send in a request on 1st January (call them) to cancel the other account. Thereafter top up remainder to 70k using FAST transfer. The new terms starts on 2nd Jan 2019.
 

tmkedmw

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For those who wanted to topup from 15k to 70k, pls consider this:
If one topup, say from 15k to 70k on 2 Jan, then min balance for Jan is still 15k as 1jan end of day balance is still 15k.

If one topup on 31dec, then Jan min balance is $70k.
 
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