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Citibank Maxigain Savings Account

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Old 03-02-2018, 01:24 PM   #1996
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I went to open maxigain account a few days ago and received a call a few days later. The sales person forgot to let me sign a form. He expects me to go down the branch without asking if I am free to go down as I am not living or working near there. I will not recommend Woodlands branch. Very bad service.
Should go to a Citigold branch.
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Old 03-02-2018, 03:36 PM   #1997
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Got a call this morning from Citi that the missing 3 counters and the interests will be credited next week.
Nice. I called yesterday but they haven't returned my call. So we should get back additional interest (the 3 additional counters applicable from Jan?)
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Old 03-02-2018, 06:08 PM   #1998
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if I've more then $180k in my current maxigain account, should I open another maxigain account (joint?) and transfer $30k over?
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Old 03-02-2018, 07:09 PM   #1999
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if I've more then $180k in my current maxigain account, should I open another maxigain account (joint?) and transfer $30k over?
tricky question since you need to weigh the opportunity cost of your interest dropping by 0.6% when you do that.

maybe more feasible to do that when the 2nd account has also reached counter 12 but will still lose out on the time lapse as there is a delay before the bonus interest kicks in
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Old 03-02-2018, 08:09 PM   #2000
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Hey bro,

Thanks for the sharing. I realised the interest for the month is credited at the end of the same month, i.e in your example, for the $30k deposit in Maxigain for Jan 2019, the $50 interest is credited on 31 Jan 2019. Does that mean we can only withdraw the $50 in January 2019?

Pls feel free to correct me if i'm wrong.. thanks!

You can withdraw any amount that is higher than the previous month lowest if you wanna enjoy the 2% interest, otherwise it will drop to 6 counter...

So example, if you have 15k for 12 month... with accumulated interest, let's just say you have $16k on December 2018 for easy calculation.
Then you decided to add in your SSB fund of another $14k, which you withdraw, paying $2 for early redemption, to put into Maxigain which at this Dec 2018 stage has 12 counters and thus hits 2%+/- interest.
So now you have $30k in Maxigain for Jan 2019, so by Feb 2019, you will get 2% interest of est. $50. Total $30050. You can withdraw the $50 and still enjoy 2% interest on the $30k since that's the last month's lowest amount.
But if you withdraw $100, total become $29950, your interest drop 0.6% to 1.4%, so next month you get 1.4% of $29950
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Old 04-02-2018, 08:00 AM   #2001
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Instant banking center can open maxigain account ? Quite confusing as cso says cannot.

If I'm not citigold, can I go to citigold to open a maxigain account ? Will they chase me away?
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Old 04-02-2018, 08:46 AM   #2002
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Instant banking center can open maxigain account ? Quite confusing as cso says cannot.

If I'm not citigold, can I go to citigold to open a maxigain account ? Will they chase me away?
We went instant banking Centre at Orchard mrt to open Maxigain. Can open but they don't accept cash. So your first month will be counter 0 since not funded on first day.
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Old 04-02-2018, 10:19 AM   #2003
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We went instant banking Centre at Orchard mrt to open Maxigain. Can open but they don't accept cash. So your first month will be counter 0 since not funded on first day.
Thanks ..was told by CSO instant banking centre cannot open savings account ..only open CC account ...
Really cannot make it
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Old 04-02-2018, 06:36 PM   #2004
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Hey bro,

Thanks for the sharing. I realised the interest for the month is credited at the end of the same month, i.e in your example, for the $30k deposit in Maxigain for Jan 2019, the $50 interest is credited on 31 Jan 2019. Does that mean we can only withdraw the $50 in January 2019?

Pls feel free to correct me if i'm wrong.. thanks!
Withdraw $50, be it Jan or Feb, doesn't matter, because it will still made your Feb lowest to be $30k.
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Old 04-02-2018, 06:49 PM   #2005
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Hello, if i want to transfer money from posb savings account to citibank maxigain, how should i go about doing, will there be any fees incurred?
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Old 04-02-2018, 06:50 PM   #2006
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Hello, if i want to transfer money from posb savings account to citibank maxigain, how should i go about doing, will there be any fees incurred?
Use FASt lor
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Old 04-02-2018, 06:57 PM   #2007
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Use FASt lor
Thank you, is it free of charge? I read the details, under what condition will i be subjected to fee charging?
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Old 04-02-2018, 06:58 PM   #2008
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Thank you, is it free of charge? I read the details, under what condition will i be subjected to fee charging?
Fast is free since it started though banks can change it. Anyway, all charges are displayed before confirmation page.

Or simply, yes, free.
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Old 04-02-2018, 07:04 PM   #2009
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Fast is free since it started though banks can change it. Anyway, all charges are displayed before confirmation page.

Or simply, yes, free.
Thanks !! That will be so convenient for me since so many ppl are queuing for li chun
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Old 05-02-2018, 09:50 AM   #2010
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As u had funded the account with XXXXX on the same day u open the acct on 27 Jan, your lowest balance for the month of Jan is XXXXX. Lowest balance for Dec is NA (Not Applicable).

Your end Feb statement will show a STEP-UP of 1.
Maxigain account have a STEP-UP of 0 on your opening month.
Is there a paper statement or online banking that shows the counter?

I opened my account in Dec, didn't get any statement so far.
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