Citibank Maxigain Savings Account

ceestudent

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Plan to park my maxigain fund to ocbc bonus+ for 1.45% for the time being. Is this good alternative?

I use my uob one for my salary credit so cannot use other saving with salary credit.
 

testingabc

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Plan to park my maxigain fund to ocbc bonus+ for 1.45% for the time being. Is this good alternative?

I use my uob one for my salary credit so cannot use other saving with salary credit.

for me i put to maybank isavvy 1.75%, only need to maintain $10K ADB and play musical chairs every 2 months. Flexible, can withdraw and does not need to spend any amount or insurance or investment.
 

vsvs24

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Plan to park my maxigain fund to ocbc bonus+ for 1.45% for the time being. Is this good alternative?

I use my uob one for my salary credit so cannot use other saving with salary credit.

You can replace your salary in UOB One with 3 GIRO. Move your salary to OCBC 360. See if this is better.
 

merlot6230

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Still better than Maxigain for 75k at 2.48%. As long as you know it is not 3.88%.


i must agree UOB for their marketing stunts - actually about 2.463% only 75k, now i have to go for ICBC to park.

Judging from the rate, i try my best as much as i can lor.
 

merlot6230

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Today I closed the account with cashier order and transfer to uob 3.88%.

No regret


i would like to take back the word of 3.88% from UOB as per other forumer point out to me.

the rate is about 2.463% after i compute thru their UOB calculator - also i have limited choice to choose this account due to saving account instead of tied up by maxi gain for 1.49% (depend sibor rate and unable to touch for emergency except the monthly interest rate)

due to my limited homework, i make a slight mistake to take it for granted so i m trying to savage the discrepency.

UOB only up to 75k to enjoy that rate therefore, i hate but without choice to place a FD at ICBC .
 

testingabc

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agree with you , they offer 1.7% FD which i m planning to do it instead of maybank 1.75% @2 yr for 50k.

so far ICBC is the highest from my searching - are they cover for 75K too ?

maybank isavvy is 2 months 1.75%, savings account flexible, icbc is locked fixed deposit 1.7%
 

ekardo

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maybank isavvy is 2 months 1.75%, savings account flexible, icbc is locked fixed deposit 1.7%

I still dun get the musical chair method for maybank..

is it,
1) open 2 bank, isavvy and savvy ?
2) maintain $500 everytime in each bank minimum
3) move the fund (say 50k or 100k) to and fro each bank on 1st of the month ?

becos the 1.75% is for incremental amount ?
 

testingabc

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I still dun get the musical chair method for maybank..

is it,
1) open 2 bank, isavvy and savvy ?
2) maintain $500 everytime in each bank minimum
3) move the fund (say 50k or 100k) to and fro each bank on 1st of the month ?

becos the 1.75% is for incremental amount ?

Yes you are right. But if you are new, open 1 out of the 2 accounts first. Next cycle then open the other. For example,

1st day of month 1: Open isavvy, put all your funds into it.
1st day of month 3: Open isavvy-i, Withdraw money from isavvy leaving $500 to POSB/DBS/any middle bank then to isavvy-i
Any of the time you can withdraw or deposit, just keep make sure secondary account is $500 and primary account must have at least $10K ADB
 

ekardo

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Yes you are right. But if you are new, open 1 out of the 2 accounts first. Next cycle then open the other. For example,

1st day of month 1: Open isavvy, put all your funds into it.
1st day of month 3: Open isavvy-i, Withdraw money from isavvy leaving $500 to POSB/DBS/any middle bank then to isavvy-i
Any of the time you can withdraw or deposit, just keep make sure secondary account is $500 and primary account must have at least $10K ADB

sorry, is it month 2 or month 3?
and the money have to be from external bank ?
 

ekardo

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month 3, cause each cycle is 2 months. to be safer from external middle bank

I thot the monthly interest is only applicable if you have increment?

so for month 2 can do nothing and still can get the 1.7x% interest?
 

Jyvonchi

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I thot the monthly interest is only applicable if you have increment?

so for month 2 can do nothing and still can get the 1.7x% interest?

Even if you make withdrawals but still keeping minimum $10k, you will get 1.75% interest
 

ekardo

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so the incremental is only with respective with Month 0, and can earn 1.75% interest for 2 straight months (month 1 and month 2)?
day 1 of Month 3 move out to the other Savvy and repeat cycle ?
 

demoforce1

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Yes you are right. But if you are new, open 1 out of the 2 accounts first. Next cycle then open the other. For example,

1st day of month 1: Open isavvy, put all your funds into it.
1st day of month 3: Open isavvy-i, Withdraw money from isavvy leaving $500 to POSB/DBS/any middle bank then to isavvy-i
Any of the time you can withdraw or deposit, just keep make sure secondary account is $500 and primary account must have at least $10K ADB

what do you mean with primary and secondary?
 

merlot6230

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maybank isavvy is 2 months 1.75%, savings account flexible, icbc is locked fixed deposit 1.7%

agreed i take a rain check after visit the branch.

maybank is abit tedious whereby play musical chair and open an account of 2k with miserable interest while 20k lock in for 3 years.

i prefer liquid fund for emergency strategies mah.

also sibei lazy type personality.
 

Jyvonchi

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what do you mean with primary and secondary?

Primary account means the account earning the interest (1.75% for Mar & Apr) atm and secondary will be the “cooling down” account during Mar & Apr, while waiting for the next cycle; May & June.
 

testingabc

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agreed i take a rain check after visit the branch.

maybank is abit tedious whereby play musical chair and open an account of 2k with miserable interest while 20k lock in for 3 years.

i prefer liquid fund for emergency strategies mah.

also sibei lazy type personality.

you are not talking the same thing as me.... maybank isavvy is liquild fund, musical chair not hard only 5 mins to merry go round, minimum is $500 float. what you are talking is maybank fixed deposit 3 years term, which personally i don't like too. :s22::s22:
 
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