MrHighlander
Master Member
- Joined
- Feb 9, 2018
- Messages
- 3,332
- Reaction score
- 102
Yes that’s right by my understanding
I have been trying to figure out the MaxiGain account (which is like a complex puzzle), here is my first attempt.
Base interest rate is 70% of SIBOR on balances between $70-150k. For the interest rate to tick up (gain counters), the lowest balance at any point in time in a month should not go below your lowest balance in the previous month. Balances below $70,000 won’t earn interest, but can collect counters (+1/10th percent bonus interest per counter, maximum 12). Assuming you have no other Citi accounts, the minimum balance is $15,000 (not just average monthly balance) to avoid the $15/mo. fall below fee. Any balances beyond $150,000 only earns interest of .05%. Any month you don’t earn a counter you still keep your existing ones, and once you earn all 12 you keep those indefinitely.
Did I get it right?