Citibank Maxigain Savings Account

lowveld

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Hi! Could I check when does Maybank usually release the rates for the next two months? I note it’s nearing May but they still haven’t release the rates for May-June haha.
 

ekardo

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Hi! Could I check when does Maybank usually release the rates for the next two months? I note it’s nearing May but they still haven’t release the rates for May-June haha.

till now still not release..
 

havetheveryfun

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Hi! Could I check when does Maybank usually release the rates for the next two months? I note it’s nearing May but they still haven’t release the rates for May-June haha.

last day of the month or first day of the month, seldom earlier
 

happiee

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Why maxigain??

With the 1 month SIBOR rate now around 0.8%, and with their counter increasing at 0.05%. The max rate for this is only around 1%, prob one of the worst among foreign banks.

Curious what could be the reason you are STILL sticking with citi other than diversification if you have too much $$$? :s13:

If not, high time to review your deposits with them.
During this challenging time, dun lock up your $$ with uncompetitive banks...
 

MrCoconut

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With the 1 month SIBOR rate now around 0.8%, and with their counter increasing at 0.05%. The max rate for this is only around 1%, prob one of the worst among foreign banks.

Curious what could be the reason you are STILL sticking with citi other than diversification if you have too much $$$? :s13:

If not, high time to review your deposits with them.
During this challenging time, dun lock up your $$ with uncompetitive banks...
I think it's more for diversification. The plus side is this account you can still withdraw anytime you want.

Other FDs are locked up.

Sent from 8riversuites using GAGT
 

ekardo

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I think it's more for diversification. The plus side is this account you can still withdraw anytime you want.

Other FDs are locked up.

Sent from 8riversuites using GAGT

no need to compare with FD...other banks also have around or more than 1%..

maxigain also have penalty for withdrawal ---> drop tier.
 

yiwei

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I think it's more for diversification. The plus side is this account you can still withdraw anytime you want.

Other FDs are locked up.

Sent from 8riversuites using GAGT

If only 1%, put in CIMB fastsaver better, no penalty for withdrawal
 

testingabc

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I think it's more for diversification. The plus side is this account you can still withdraw anytime you want.

Other FDs are locked up.

Sent from 8riversuites using GAGT

I think now most savings account with no lock in has higher rate than Citibank Maxigain with the drop in Sibor rate and the change end of last year. Furthermore, withdraw more than the previous month gives a big drop. For $100K people move to CIMB Fastsaver, flexible. For $200K people move to Hong Leong iSavings. For more than $200K people go to Maybank iSavvy/iSavvy-i Merry go round. These are flexible and can withdraw without causing a big drop of interest rates.
 

dreant

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For reference, based on my calculations, base interest paid out over the last two years has been approximately the following:

2020-04 0.455%
2020-03 0.606%
2020-02 0.841%
2020-01 0.858% // bonus interest reduced to 0.05% per counter
2019-12 0.885% // 50% of 1m SIBOR
2019-11 1.230% // 70% of 1m SIBOR
2019-10 1.298%
2019-09 1.312%
2019-08 1.315%
2019-07 1.318%
2019-06 1.319%
2019-05 1.302%
2019-04 1.279%
2019-03 1.289%
2019-02 1.260%
2019-01 1.242% // 70% of 1m SIBOR
2018-12 1.358% // 80% of 1m SIBOR
2018-11 1.296%
2018-10 1.213%
2018-09 1.210%
2018-08 1.219%
2018-07 1.200%
2018-06 1.138% // 80% of 1m SIBOR
 

battledome64

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For reference, based on my calculations, base interest paid out over the last two years has been approximately the following:

2020-04 0.455%
2020-03 0.606%
2020-02 0.841%
2020-01 0.858% // bonus interest reduced to 0.05% per counter
2019-12 0.885% // 50% of 1m SIBOR
2019-11 1.230% // 70% of 1m SIBOR
2019-10 1.298%
2019-09 1.312%
2019-08 1.315%
2019-07 1.318%
2019-06 1.319%
2019-05 1.302%
2019-04 1.279%
2019-03 1.289%
2019-02 1.260%
2019-01 1.242% // 70% of 1m SIBOR
2018-12 1.358% // 80% of 1m SIBOR
2018-11 1.296%
2018-10 1.213%
2018-09 1.210%
2018-08 1.219%
2018-07 1.200%
2018-06 1.138% // 80% of 1m SIBOR

0.44% is super low
 
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