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Citibank Maxigain Savings Account

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Old 14-05-2018, 12:14 AM   #2581
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Hmm.. if i were to withdraw the balance at say month 13, and leave only $10 inside.. it would prevent the counter from resetting to 0 (i.e. it will reset to counter6)?
Should be ... but u better verify it with the bank lol ...
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Old 14-05-2018, 06:38 AM   #2582
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Hmm.. if i were to withdraw the balance at say month 13, and leave only $10 inside.. it would prevent the counter from resetting to 0 (i.e. it will reset to counter 6)?

all the banks i'm using have increased the FAST limit to 100k daily
Charged by fall below fee, which reduce th balance more and finaly counter reset to 0
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Old 14-05-2018, 01:05 PM   #2583
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Charged by fall below fee, which reduce th balance more and finaly counter reset to 0
i thought as much... thank you!
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Old 14-05-2018, 02:40 PM   #2584
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i thought as much... thank you!
Wow account service fee is S$15! Need to keep at least 15k inside.
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Old 14-05-2018, 11:12 PM   #2585
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wait for official letter for more details. I got to know as a friend open account today and was told by Citibank on the changes wef 1July.
if no top up to 70k by 30jun, then earn 0 interest. The fine details I am not so sure too. not sure if really 0 interest or only affect base interest or step up bonus interest.
So bottom line is this true? No 70k no interest?
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Old 14-05-2018, 11:23 PM   #2586
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where did you hear from? anyone receive letter yet?
if this is true, time to take out the cash and close account lol.. i dont have so much excess cash to put in maxigain for a miserable 1.x%..
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Old 15-05-2018, 05:13 PM   #2587
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if this is true, time to take out the cash and close account lol.. i dont have so much excess cash to put in maxigain for a miserable 1.x%..
is there any minimum holding account period after u open? if so, there might be a fine impose once u close the account.
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Old 15-05-2018, 06:04 PM   #2588
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is there any minimum holding account period after u open? if so, there might be a fine impose once u close the account.
this one savings account not fixed deposit.
no such minimum holding period as far as i know.
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Old 15-05-2018, 06:16 PM   #2589
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this one savings account not fixed deposit.
no such minimum holding period as far as i know.
If it's a new account, need to hold for 6 months as there is early closure penalty fee. But, if citi changes maxigain tnc after u had signed up and u do not want to continue, u shld be able to ask for waiver.
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Old 15-05-2018, 07:17 PM   #2590
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is there any minimum holding account period after u open? if so, there might be a fine impose once u close the account.
The terms for closure of account within 6 months of opening is $50... just slightly better off than being charged fall-below fee of $15 for several months.
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Old 16-05-2018, 10:26 AM   #2591
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No limit.
Anything above 150k, you will earn 1.25% p.a if you already hit step 12.

(1.20% + 0.05% base)
so.. assuming I hit step 12..

0 - 150k = 1.20% + 0.8 1mth sibor

above 150k = 1.20% + 0.05% base

is this right?
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Old 16-05-2018, 12:12 PM   #2592
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Just to confirm. If I withdraw part of the fund on the month when the counter for the bonus interest at the end of the month is 6, it will be remain at 6 for the month right? So this is the only time to reduce the fund size without suffering any penalty?
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Old 16-05-2018, 12:32 PM   #2593
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Just to confirm. If I withdraw part of the fund on the month when the counter for the bonus interest at the end of the month is 6, it will be remain at 6 for the month right? So this is the only time to reduce the fund size without suffering any penalty?
i think once you see 'you have accumulated 6 counters' in your statement (should be the first 2, 3 days of the calendar month), it means you can withdraw and get stuck at 6 counters for one extra month before resuming the counter increase.

but I never did that so I can't confirm. that's how I interpreted it.
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Old 17-05-2018, 06:43 AM   #2594
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lowest amount

Someone may have asked this before
How they calculate/count lower balance of the month?
Let's say I am at the counter 2
1 May - balance 100K
10 May - withdraw 20K
12 May - deposit 25K
31 May - balance 105K
How they calculate my $ for May?
average daily balance? or 80K since I withdraw 20K.
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Old 17-05-2018, 07:40 AM   #2595
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Someone may have asked this before
How they calculate/count lower balance of the month?
Let's say I am at the counter 2
1 May - balance 100K
10 May - withdraw 20K
12 May - deposit 25K
31 May - balance 105K
How they calculate my $ for May?
average daily balance? or 80K since I withdraw 20K.
Lowest balance is $80,000 for may, for average balance just add up all end day balance and divide by number of days
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