Citibank Maxigain Savings Account

havetheveryfun

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When want ask people open account, damn fast process..almost immediate. When comes to any promises made by them, can drag a whole year..and still counting.

Salute sia.

not really.. open account only damn fast when they know you got over 70k.. if less than that most also cant be bothered
 

Sinkie

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Actually this is not true for new account. I just read the T&C. Your account must be open for at least 3 months to enjoy the topup bonus.

Ohh, then quickly open, and top up in 3 months times
 

bjornng

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hey guys, i am looking at this account as i am close to the 50k cap in dbs multiplier. i don't have 70k to store in yet as i have big purchases coming up (wedding, etc).

i've been reading around and i think i roughly get the idea of how this account works. i was thinking, in the meantime before i can store 70k inside, can i just park $15k in first to rack up the counter? so when i have that 70k amount that i can add on (which i think will definitely be later than hitting counter 12 haha), the bonus interest portion will already be at max counter, thus immediately fulfilling base + full bonus interest.

hope it's clear. thank you all in advanced!
 

havetheveryfun

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i've been reading around and i think i roughly get the idea of how this account works. i was thinking, in the meantime before i can store 70k inside, can i just park $15k in first to rack up the counter? so when i have that 70k amount that i can add on (which i think will definitely be later than hitting counter 12 haha), the bonus interest portion will already be at max counter, thus immediately fulfilling base + full bonus interest.

yes.. of cos u can..
 

ryonee

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hey guys, i am looking at this account as i am close to the 50k cap in dbs multiplier. i don't have 70k to store in yet as i have big purchases coming up (wedding, etc).

i've been reading around and i think i roughly get the idea of how this account works. i was thinking, in the meantime before i can store 70k inside, can i just park $15k in first to rack up the counter? so when i have that 70k amount that i can add on (which i think will definitely be later than hitting counter 12 haha), the bonus interest portion will already be at max counter, thus immediately fulfilling base + full bonus interest.

hope it's clear. thank you all in advanced!
Yup, I'm considering doing this too...
 

Buzy_bee

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hey guys, i am looking at this account as i am close to the 50k cap in dbs multiplier. i don't have 70k to store in yet as i have big purchases coming up (wedding, etc).

i've been reading around and i think i roughly get the idea of how this account works. i was thinking, in the meantime before i can store 70k inside, can i just park $15k in first to rack up the counter? so when i have that 70k amount that i can add on (which i think will definitely be later than hitting counter 12 haha), the bonus interest portion will already be at max counter, thus immediately fulfilling base + full bonus interest.

hope it's clear. thank you all in advanced!

Yes, can. I guess the only risk is whether tnc will remain the same within the 12 months counter accumulation. I guess worth the risk considering this is still the best "FD"
 

lovemyself123

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can anyone with only 15k inside now confirm that the monthly counter steps up every month? I don't see this anywhere on their website
 

NTTDoCoMo

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can anyone with only 15k inside now confirm that the monthly counter steps up every month? I don't see this anywhere on their website

Below is how the Bonus Interest Extracted from the FAQ.

The Counter increases by 1 each time the Bonus Interest Rate steps up. The Bonus Interest Rate steps up in a month if the lowest balance in that month is equal to or greater than the lowest balance in the preceding month.


How is bonus interest calculated?

Your balances capped at S$150,000 shall accrue bonus interest at a rate ("Bonus Interest Rate") that steps up each month, from 0.10% p.a. to a maximum of 1.20% p.a., if the lowest balance in your MaxiGain account in a month is equal to or greater than the lowest balance in the previous month.

The Counter increases by 1 each time the Bonus Interest Rate steps up. The Bonus Interest Rate steps up in a month if the lowest balance in that month is equal to or greater than the lowest balance in the preceding month. Bonus interest is computed based on the preceding month's lowest balance and number of calendar days in the preceding month. The lowest amount of funds in your MaxiGain account at any point in time in a month shall be the "lowest balance" of that month.
 

lovemyself123

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Below is how the Bonus Interest Extracted from the FAQ.

The Counter increases by 1 each time the Bonus Interest Rate steps up. The Bonus Interest Rate steps up in a month if the lowest balance in that month is equal to or greater than the lowest balance in the preceding month.


How is bonus interest calculated?

Your balances capped at S$150,000 shall accrue bonus interest at a rate ("Bonus Interest Rate") that steps up each month, from 0.10% p.a. to a maximum of 1.20% p.a., if the lowest balance in your MaxiGain account in a month is equal to or greater than the lowest balance in the previous month.

The Counter increases by 1 each time the Bonus Interest Rate steps up. The Bonus Interest Rate steps up in a month if the lowest balance in that month is equal to or greater than the lowest balance in the preceding month. Bonus interest is computed based on the preceding month's lowest balance and number of calendar days in the preceding month. The lowest amount of funds in your MaxiGain account at any point in time in a month shall be the "lowest balance" of that month.

Jan 19 i put $1 and Feb 19 i top up to $2 the step up also will accumulate? however, because citibank maxigain account is min $15k that is why it can be inferred that it will step up? sorry noob here.

if i withdraw the interest only portion annually, will it result in a drop in counter?
 

NTTDoCoMo

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Jan 19 i put $1 and Feb 19 i top up to $2 the step up also will accumulate? however, because citibank maxigain account is min $15k that is why it can be inferred that it will step up? sorry noob here.

if i withdraw the interest only portion annually, will it result in a drop in counter?

Jan 19 i put $1 and Feb 19 i top up to $2 the step up also will accumulate? however, because citibank maxigain account is min $15k that is why it can be inferred that it will step up? sorry noob here.
>> Minimum amount to avoid fall below fee is $15K.


if i withdraw the interest only portion annually, will it result in a drop in counter?
>> Lump sum withdraw will result counter to drop. Lowest balance in your MaxiGain account in a month is Lower than the lowest balance in the previous month.
 

harky

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with 15K, the interest so little... still want to take out meh? :D
 
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