Citibank Maxigain Savings Account

[LouisSaha]

Now is 2.5%

So the rate increased from 2.2 to 2.5%. But 2.5% at counter 12. Not bad!

 

[LouisSaha]

I think worth it or not depends on your counters, currently fixed deposit max is 1.9% while on current sibor rate at counter 6 is above most fixed deposit. for me i personally on counter 3 so probably will put at cimb 3month 1.7% fixed deposit before making decision whether to top up on citibank maxigain depends on the sibor rates in 3 months time

Actually this make sense. Maybe 70k with maxigain.
Then the rest i put in cimb for 3 mths, then decide later.

 

[a4973]

Counter wont drop as long as you only withdraw interest.

Hi just wish to clarify further.
Say interest credited on 1 September, can withdraw the interest any date of the month of September before 1 October?

 

[luvpraline]

Hi just wish to clarify further.
Say interest credited on 1 September, can withdraw the interest any date of the month of September before 1 October?

yes correct

 

[Buzy_bee]

Actually this make sense. Maybe 70k with maxigain.
Then the rest i put in cimb for 3 mths, then decide later.

Can look into standard chartered esaver account at 1.85% for 2 months then shift out then after 2 months put back again

 

[harky]

can move here and there one meh?

Can look into standard chartered esaver account at 1.85% for 2 months then shift out then after 2 months put back again

 

[EEXOOO]

Can i simply put 15k, do nothing and keep increasing my counter?
Assuming interest earned is left inside.

 

[xXxJavierxXx]

Can i simply put 15k, do nothing and keep increasing my counter?
Assuming interest earned is left inside.

I did 15k from the start. Waited for counter 6 and ramp up to 70k. Interest becomes around 2%. Slowly top up to 150k. Never look back since. Best decision ever.

 

[testingabc]

i have the same issue here. i not sure if i should just put 15k for the counter to go up for one year or just park 70k in it.

currently only have uob stash account, however it is not maxed out. so i still can put it in there

this actually depends how much is in your uob stash, if there is 100k in your uob stash is only 1% interest, even if citibank maxigain at counter 1 you still get 0.7x1.88(current sibor rate)+0.1 which is still more than uob stash.

 

[testingabc]

Can i simply put 15k, do nothing and keep increasing my counter?
Assuming interest earned is left inside.

you can, but do take note you can only get bonus interest from 0.1% onwards, which is very little imo for the first few months. if you have the funds to top up 55k more, you can get 0.7x1.88(current sibor rate) more each month.

 

[Buzy_bee]

can move here and there one meh?

Can. It's a merry go round. Just leave minimum of $1k in SC esaver to avoid fall below fee

 

[vsvs24]

Can. It's a merry go round. Just leave minimum of $1k in SC esaver to avoid fall below fee

Actually based on current rates Maybank isavvy is better than esaver for smaller amount. eg 55k esaver is 1.9% while Maybank isavvy is 2% for all amounts.

Also Maybank current cycle is Jul to Aug so new cycle starts 1 Sep. Esaver current cycle Aug to Sep.

And esaver min sum $1000, Maybank isavvy $500.

Those interested should wait for Maybank to release rates for Sep to Oct on 1 Sep.

 

[testingabc]

Actually based on current rates Maybank isavvy is better than esaver for smaller amount. eg 55k esaver is 1.9% while Maybank isavvy is 2% for all amounts.

Also Maybank current cycle is Jul to Aug so new cycle starts 1 Sep. Esaver current cycle Aug to Sep.

And esaver min sum $1000, Maybank isavvy $500.

Those interested should wait for Maybank to release rates for Sep to Oct on 1 Sep.

This seems to be a very good idea but still need to create an account to merry-go-round with. Can I know when is the best to create this account? 31st august or 1st sep? Thanks..

 

[shpesft]

You can open a Maybank iSavvy and a iSavvy-islamic account under your own name and transfer the sums from one to the other (better through a different account) every 2 months. Might have to open on 30th or 31st Aug since 1 Sep is a Sunday. Don’t put more than $500 into the account before 1 Sep.

This seems to be a very good idea but still need to create an account to merry-go-round with. Can I know when is the best to create this account? 31st august or 1st sep? Thanks..

 

[vsvs24]

You can open a Maybank iSavvy and a iSavvy-islamic account under your own name and transfer the sums from one to the other (better through a different account) every 2 months. Might have to open on 30th or 31st Aug since 1 Sep is a Sunday. Don’t put more than $500 into the account before 1 Sep.

My opinion : May be better to open after the rates of Sep to Oct is released on 1 or 2 Sep. Just in case rates drop (touchwood) then can decide whether to go ahead to open account. If open on 2 Sep Mon, lose some interest better than to do the work to open account and regret later.

 

[Buzy_bee]

Actually based on current rates Maybank isavvy is better than esaver for smaller amount. eg 55k esaver is 1.9% while Maybank isavvy is 2% for all amounts.

Also Maybank current cycle is Jul to Aug so new cycle starts 1 Sep. Esaver current cycle Aug to Sep.

And esaver min sum $1000, Maybank isavvy $500.

Those interested should wait for Maybank to release rates for Sep to Oct on 1 Sep.

Thanks for sharing! May I know which account do you merry go round with?

 

[luvpraline]

You can open a Maybank iSavvy and a iSavvy-islamic account under your own name and transfer the sums from one to the other (better through a different account) every 2 months. Might have to open on 30th or 31st Aug since 1 Sep is a Sunday. Don’t put more than $500 into the account before 1 Sep.

just wondering if i were to ever go to the counter for any transaction and the staff sees that i have an Islamic account and i look like a chinese, would they question me?

update: ok i just tested their online account opening, there is no option to open an isavvy islamic account, only the normal isavvy, and duplicate accounts are not allowed

 

[shpesft]

No issues. I’ve opened the Islamic account before for Maybank and CIMB without any issues, though some CSOs are unaware that the iSavvy higher interest promotion applies for the iSavvy-Islamic account as well.

The Islamic account has to be opened at Maybank branches. Cannot do online.

just wondering if i were to ever go to the counter for any transaction and the staff sees that i have an Islamic account and i look like a chinese, would they question me?

update: ok i just tested their online account opening, there is no option to open an isavvy islamic account, only the normal isavvy, and duplicate accounts are not allowed

 

[DontTouchMe]

this actually depends how much is in your uob stash, if there is 100k in your uob stash is only 1% interest, even if citibank maxigain at counter 1 you still get 0.7x1.88(current sibor rate)+0.1 which is still more than uob stash.

Yes I just found out also. I applied for stash account then saw on the website they put "Next 100 000". I read it as 100k

already open MaxiGain and was told that I have citiCC so I start at counter 3.

 

[vsvs24]

Yes I just found out also. I applied for stash account then saw on the website they put "Next 100 000". I read it as 100k

already open MaxiGain and was told that I have citiCC so I start at counter 3.

Always wondered why anyone would want to open stash. UOB One better.

You mean if have Citibank credit card start at counter 3 ? First time hear this.