Citibank Maxigain Savings Account

[BBQ99]

You can close the account using the secure message option in the Bank app (top right corner if i rem correctly)
after all the money is transferred out.
in the message option Indicate 3 thing.
1. the Bank account you would want to close
2.Waive off any floating interest to the bank (best do on the 1st of the month floating = 0)
3. Give reason for closing (I say for investment)

Check the message at the end of the day. They will reply they will process the request to close.
or if any action item they need you to do.
If you have no more acct or CC you will not be able to log in once they close.
If not the account will be gone in around 3 working days.

 

[silverbomb]

im thinking of opening citi account just to get the debit card and claim shopee voucher

seems like this maxigain got fall below fee but i cant find it anywhere on their website

Citi is very strict when it comes to fall below fee, $15 charged if 15k minimum balance not maintained.

 

[ekardo]

take note:

Dear customer, from 1 Mar 2023, 2 business days' advance notice will be required for cash withdrawals of S$200k and above. You may do so via Citiphone hotline at +65 6225 5225 daily between 8am to 8pm or in Citibank branches from Mon to Fri (excl PH), 9.30am to 3.30pm. Any advance notice submitted after 2pm will be deemed as the next business day's notice.

 

[saintgtril]

take note:

Dear customer, from 1 Mar 2023, 2 business days' advance notice will be required for cash withdrawals of S$200k and above. You may do so via Citiphone hotline at +65 6225 5225 daily between 8am to 8pm or in Citibank branches from Mon to Fri (excl PH), 9.30am to 3.30pm. Any advance notice submitted after 2pm will be deemed as the next business day's notice.

Citibank low in fund? Need to give them heads-up now.

 

[sglandscape]

Citibank low in fund? Need to give them heads-up now.

Likely for their liquidity management so they can keep less buffer cash around which earns very low interest. Win-win in some sense, so they can afford to pass through the higher rates to customers.

 

[crystalnox]

Citibank low in fund? Need to give them heads-up now.

It’s for cash withdrawal. They don’t want to have to standby so much cash at their branches for some idiot who wants to withdraw more than $200k in cash.

 

[ekardo]

It’s for cash withdrawal. They don’t want to have to standby so much cash at their branches for some idiot who wants to withdraw more than $200k in cash.

Ya. Who will need so much cash in this new era.

 

[deemon]

this is one of the highest on the market now?

 

[ThreeSteps]

this is one of the highest on the market now?

It depends on the t&cs conditions.
I might try Citi Wealth First Account with an initial $50k, let's hope they don't drop interest rates.
https://www.citibank.com.sg/persona...count?lid=SGENCBGBAMITLCitiWealthFirstAccount
https://www.citibank.com.sg/pdf/122...c.pdf?lid=SGENCBGBAMITLCitiWealthFirstAccount

 

[deemon]

It depends on the t&cs conditions.
I might try Citi Wealth First Account with an initial $50k, let's hope they don't drop interest rates.
https://www.citibank.com.sg/persona...count?lid=SGENCBGBAMITLCitiWealthFirstAccount
https://www.citibank.com.sg/pdf/122...c.pdf?lid=SGENCBGBAMITLCitiWealthFirstAccount

seems hard to achieve without loans and investment. even the save and earn only base on incremental amount only. Its good for people who is have a loan with them or investment. Or with 500k deposit.

maxigain only good for old timers who still holding to that account already stepped to 3%

 

[FlyGuardX]

Citi is very strict when it comes to fall below fee, $15 charged if 15k minimum balance not maintained.

Does anyone know if this is still the case today?

 

[deemon]

Does anyone know if this is still the case today?

seems like. it should be stated on the website. guess good to put some money into maxigain for the 3%. highest without any condition. just that cannnot do withdrawal. only can withdraw interest

 

[FlyGuardX]

seems like. it should be stated on the website. guess good to put some money into maxigain for the 3%. highest without any condition. just that cannnot do withdrawal. only can withdraw interest

Website pdf got state but wanted to know if any bros here got below 15k TRB and in practice do they really charge. Don't feel like putting so much to gain counter

 

[deemon]

but i know joint account they will recognize the 15k.
but you havnt start. it will take 1 year. by then the interest maybe revised downwards

 

[Imhthc]

seems like. it should be stated on the website. guess good to put some money into maxigain for the 3%. highest without any condition. just that cannnot do withdrawal. only can withdraw interest

Actually withdrawal is allowed as long as the start and end day, ur balance must be the same or higher. I accidentally mistook the maxigain as another Citi saving account and transferred out some fund (more than the interest for that month) and I was advised by the cso to transfer back within the same day and it did not affect the interest.
Unlike OCBC dividend+ account, once u made a withdrawal, you will lose the “non-withdrawal” bonus interest tier for the month.

 

[lancer6238]

The website says "No minimum balance is required in your MaxiGain account to earn bonus interest". Does that mean I can just leave $1 in the account to start the process until the interest rate reaches 3.01% after a year?

Also, I understand that the amount in the account can't be lower than the previous month's amount during the 1 year step-up process. But what about after the 3% is reached after a year, would the bonus interest rate be reduced if the amount in the account is lower than the previous month?

 

[tesarise]

The website says "No minimum balance is required in your MaxiGain account to earn bonus interest". Does that mean I can just leave $1 in the account to start the process until the interest rate reaches 3.01% after a year?

There's a minimum Total Relationship Balance across all your accounts. I think as long as you have enough in other accounts, MaxiGain by itself no minimum (but don't quote me on this part)

Also, I understand that the amount in the account can't be lower than the previous month's amount during the 1 year step-up process. But what about after the 3% is reached after a year, would the bonus interest rate be reduced if the amount in the account is lower than the previous month?

Yes. Counter will drop to 6 (you can quote me on this part)

 

[deemon]

i got this account for man years. since they nerf the interest. i took amost everything out and leave like near 1 dollar or maybe couple of hundred but still maintaining TRB using joint account method. Only few months ago i saw the increase in interest rate. Slowly start to increase the balance and enjoy while it last.
if you able to maintain the TRB, maybe good to start the counter but never know when they will nerf this again.

 

[mindman]

Still have fall below fee right ?

 

[mindman]

https://www.citibank.com.sg/content...om-sg/pdf/0924/citi-maxigain-account-tncs.pdf

Yes, highest fixed interest for now

Need to wait for 12 mths