Citibank Maxigain Savings Account

demoforce1

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for my case, hitting the min $500 minimum spend is not an issue. BOC Family Card changed their rebate T&Cs recently that it is not worth to continue with that card based on my spending pattern.
Yes, switch to cimb visa signature
 

ekardo

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can I check I need to top up to 70k by end of this month (or end of Dec?) to get the base interest?
 

Boy who Procrastinates

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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

the base and bonus interest only applies to the first $150k so there's no point keeping more than $150k right?

Yes, the base and bonus interest only applies to first $150k after the revision. Balance beyond 150k will only be earning 0.05%. Not advisable to put any amount beyond $150k.
 

SKenny

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What is the min amt for this maxisave without penalty?. Assuming that I already have more than $70k in other citibank accounts?

I am trying to build up the counter before moving money in.
 

fun4life

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- So from Jan onwards, if can't meet min $70k, the max interest rate aka Bonus rate is 1.2%, right?

- If to pull all money out, what is the monthly penalty fee (fall below fee?)

- Can close the account online, or must go to brach office?

Thanks.
 
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tornedo

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- So from Jan onwards, if can't meet min $70k, the max interest rate aka Bonus rate is 1.2%, right?

- If to pull all money out, what is the monthly penalty fee (fall below fee?)

- Can close the account online, or must go to brach office?

Thanks.

Thats almost kill off all those maxigain accounts that have below 70k fund. Time to move out :(
 
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foxer77

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bank might had too much players in this account & with the increase interest rate therefore limit the number by increase the minimum sum
 

kurtgoh

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thanks to you guys..

i didn't notice the change.. just shift the fund to fulfill the 70..
 

SKenny

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I am thinking opening a few maxigain accounts (via Joint acct) with a min amount (say $1.5k) to grow the counter. Once it is sizable, then move in the money.
 

Sinkie

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I am thinking opening a few maxigain accounts (via Joint acct) with a min amount (say $1.5k) to grow the counter. Once it is sizable, then move in the money.

Needs $15,000 each account to grow, or else $15 below TRB fee will be charged every month
 
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