tesarise
Senior Member
- Joined
- Jun 8, 2019
- Messages
- 837
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- 117
I read more than 10 pg of this forum today and don't understand why some people still wish to keep money in MaxiGain after 2 Dec (when can get better interest rates elsewhere).
Huh why keep one more day when any interest earned for this month will only be credited at end of the month? No diff if close account today or tmr right?
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To the many ppl who wrote abt withdrawing balance and keeping like $15k in Dec to earn Nov's bonus interest credited in end Dec, then close acct in Jan 2020:
WHY???!??
6. Additionally, 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 lowest amount of funds in your MaxiGain account at any point in time in a month (which includes, for the avoidance of doubt, the first day on which your MaxiGain account is opened) shall be the “lowest balance” of that month.
See bolded above. If you are withdrawing so much money out in Dec, surely your lowest balance would be lesser than Nov's right? So you won't be receiving any bonus interest in end Dec, isn't it?
read carefully. the bolded part is for increasing bonus counter. will still get the bonus interest