Citibank Maxigain Savings Account

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Ginnylim07

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The top up promotion has to be done in the branch right?

The cash from the promo will be credited into the account?
 
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vsvs24

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NTTDoCoMo said:
I logged a ticket via Citi Phone regarding the Top Up Promotion and today i received a Callback from a Personal Banker.

After she checked internally with the deposit team, she mentioned that my 31 Dec 2018 is eligible for the Jan 2019 Top Up Promotion and I will need to sign a Form for the Promotion.
Click to expand...

Need help.

I went down to Holland Village branch last Friday.

Banker say just topup will do. I said I was told must sign a form. Later she came back with form for me to sign.

Today banker sms me : "The promotion stated on the form is 1 January 2019 to 28 February 2019. But you deposited in 31 December 2018".

When I ask her to check with deposit team, her reply is "I have checked with the deposit team. They said no."

So she is not going to enroll it for me.

BTW, this same banker say counter will drop if I withdraw interest. Very confidently say I will explain to you how Maxigain works. I say no need. I know how it works. Did not want to bother to say more to her.

Anyone managed to get enrolled based on topup on 31 Dec ? Can PM me your banker details please ?

I have a joint account (my sister is first name and I am second). Joint alternate account. I plan to topup next week. She say my sister has to sign the form. I cannot sign. Is this right ?

Hell. Cannot trust Citi bankers. Need to verify with you all.

Thank You.
 
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D

DenOOO

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vsvs24 said:
Need help.

I went down to Holland Village branch last Friday.

Banker say just topup will do. I said I was told must sign a form. Later she came back with form for me to sign.

Today banker sms me : "The promotion stated on the form is 1 January 2019 to 28 February 2019. But you deposited in 31 December 2018".

When I ask her to check with deposit team, her reply is "I have checked with the deposit team. They said no."

So she is not going to enroll it for me.

BTW, this same banker say counter will drop if I withdraw interest. Very confidently say I will explain to you how Maxigain works. I say no need. I know how it works. Did not want to bother to say more to her.

Anyone managed to get enrolled based on topup on 31 Dec ? Can PM me your banker details please ?

I have a joint account (my sister is first name and I am second). Joint alternate account. I plan to topup next week. She say my sister has to sign the form. I cannot sign. Is this right ?

Hell. Cannot trust Citi bankers. Need to verify with you all.

Thank You.
Click to expand...

By right, since you topped up on 31th Dec, of course not eligible for the promo which started on 1st Jan.

By left, other people managed to do it via their own banker, which is probably more flexible.

What my banker told me was, we can enroll you with the signed form no problem, but the system is automated, it will track the date which the funds are transferred in. :s12:
 
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oleyAeon

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i started maxigain last year as a way to diversify when there is no minimum 70k to get the base interest (70% of sibor), so i enjoyed both the base and bonus interest till dec last year.

i just hit counter 12 last month but base bonus interest no more. now only 1.2% from now on.

for someone who wants risk-free returns, i would recommend to deploy excess of 50K (placed in dbs multiplier) into SSB first. when the time comes when you have enough for 55k topup, then transfer from SSB into maxigain.

for someone who can take up some risk, i would recommend to invest into ssb, indexes, equities and reits for capital and dividends income. you probably will get more returns than parking 70k into a savings account.
 
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coconut1

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oleyAeon said:
i started maxigain last year as a way to diversify when there is no minimum 70k to get the base interest (70% of sibor), so i enjoyed both the base and bonus interest till dec last year.

i just hit counter 12 last month but base bonus interest no more. now only 1.2% from now on.

for someone who wants risk-free returns, i would recommend to deploy excess of 50K (placed in dbs multiplier) into SSB first. when the time comes when you have enough for 55k topup, then transfer from SSB into maxigain.

for someone who can take up some risk, i would recommend to invest into ssb, indexes, equities and reits for capital and dividends income. you probably will get more returns than parking 70k into a savings account.
Click to expand...

I did some calculations and concluded that parking 70k for 12 months straightaway is still preferable and less hassle.

70k*(70%*1.8%+0.6%(avg counter over 12 mths))=$1302 versus
55k*2% SSB+15k*0.6%(avg counter over 12 mths)=$1190
 
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Trazora

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coconut1 said:
I did some calculations and concluded that parking 70k for 12 months straightaway is still preferable and less hassle.

70k*(70%*1.8%+0.6%(avg counter over 12 mths))=$1302 versus
55k*2% SSB+15k*0.6%(avg counter over 12 mths)=$1190
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But he dun have $70k, need some time to get that.
 
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oleyAeon

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Trazora said:
But he dun have $70k, need some time to get that.
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haha, glad that someone read my post closely..
yes i did mentioned that this is for pple who are still slowly accumulating that 70k excess, and not for pple who already have 70k spare cash..
 
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Teng38

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handmitten said:
Hey bro,

Thanks for the sharing. I realised the interest for the month is credited at the end of the same month, i.e in your example, for the $30k deposit in Maxigain for Jan 2019, the $50 interest is credited on 31 Jan 2019. Does that mean we can only withdraw the $50 in January 2019?

Pls feel free to correct me if i'm wrong.. thanks!
Click to expand...

Sorry I can’t pm you, can you pm me your details please
 
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furryballs

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At 1.82% sibor, maxigain yields 2.474% interest. My UOB home loan interest has been adjusted to 2.5%. The arbitrage no longer there. I may just abandon maxigain and use it to repay my housing loan.
 
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