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Citibank Maxigain Savings Account

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Old 30-07-2018, 12:50 AM   #3166
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1 cent more also counted....
er, 0 cent more also counted. Since the requirement for the counter to increase is "lowest balance equal to or greater than lowest balance in preceding month"
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Old 30-07-2018, 01:17 PM   #3167
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Why need incremental deposit every month ? Just place min 15000 and let it roll. Counter will increase even if no added deposit. Just don't withdraw more than interest for that month.

Last edited by vsvs24; 30-07-2018 at 01:19 PM..
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Old 31-07-2018, 03:12 AM   #3168
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Hello,

I just wanted to check, whether the counter perpetually stays at 12 once your account is one year old and your ensured that you never took a dollar out i.e. after depositing 15K when you opened the account.

Which would mean that after an year can I just use it as normal bank account where I can deposit / withdraw any amount I want and I would earn 2.4 (1.2+1.2) as yearly interest (credited monthly) based on the ADB.?
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Old 31-07-2018, 06:15 AM   #3169
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Hello,

I just wanted to check, whether the counter perpetually stays at 12 once your account is one year old and your ensured that you never took a dollar out i.e. after depositing 15K when you opened the account.

Which would mean that after an year can I just use it as normal bank account where I can deposit / withdraw any amount I want and I would earn 2.4 (1.2+1.2) as yearly interest (credited monthly) based on the ADB.?
I don't think the T&C are that difficult to comprehend.

No. Even after you reach counter 12 - once your lowest amount this month is LOWER than your lowest amount last month, you drop to counter 6.
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Old 31-07-2018, 06:34 AM   #3170
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Hello,

I just wanted to check, whether the counter perpetually stays at 12 once your account is one year old and your ensured that you never took a dollar out i.e. after depositing 15K when you opened the account.

Which would mean that after an year can I just use it as normal bank account where I can deposit / withdraw any amount I want and I would earn 2.4 (1.2+1.2) as yearly interest (credited monthly) based on the ADB.?
The answers are "No", and "No". And an additional answer to a question you didn't ask, "... bonus interest is *not* based on ADB"

Please read the Citi MaxiGain Account Terms & Conditions, and post again if you still have questions.
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Old 31-07-2018, 07:13 AM   #3171
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Ultimately u want to have 150k in maxigains for maximun interest exposure to 2.4%

Why need incremental deposit every month ? Just place min 15000 and let it roll. Counter will increase even if no added deposit. Just don't withdraw more than interest for that month.
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Old 31-07-2018, 09:46 AM   #3172
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The answers are "No", and "No". And an additional answer to a question you didn't ask, "... bonus interest is *not* based on ADB"

Please read the Citi MaxiGain Account Terms & Conditions, and post again if you still have questions.
Thanks for your reply and Iink. I will go through the TnC . Thanks @juniorlion as well .
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Old 31-07-2018, 12:07 PM   #3173
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The 1 month SIBOR has been "stabilize" constantly at 1.50734 for almost the whole month of July 2018.

Hopefully the banks are not trying manipulate the SIBOR to their desirable range...
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Old 31-07-2018, 01:15 PM   #3174
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Just opened my account. They were telling me that the minimum amount will increase to 70k starting from Nov. And he confirmed that the sibor rates are rising. They use the lowest rate for the month which was 1.4% last month. Should be 1.5% for Aug..
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Old 31-07-2018, 01:19 PM   #3175
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They use the lowest rate for the month which was 1.4% last month. Should be 1.5% for Aug..
This is incorrect. See the T&C for the specifics of SIBOR value that is used.
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Old 31-07-2018, 01:28 PM   #3176
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wow that bad news.

since rate r good for consumer they start to implement control. The early batch of members already earn enough of the good rate starting this year if they already hit the max counter each months interest should be more than 2%. So dumping in 70k to this account to me is till worth it if the interest maint.

Let wait till Nov for this news.
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Old 31-07-2018, 01:42 PM   #3177
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Every time I open this thread, it is always the same few questions that r addressed in the t&c

So many ppl have reading difficulties?
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Old 31-07-2018, 01:50 PM   #3178
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Just opened my account. They were telling me that the minimum amount will increase to 70k starting from Nov. And he confirmed that the sibor rates are rising. They use the lowest rate for the month which was 1.4% last month. Should be 1.5% for Aug..
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Old 31-07-2018, 02:15 PM   #3179
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This is incorrect. See the T&C for the specifics of SIBOR value that is used.
LOL he gave me the wrong info then.
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Old 31-07-2018, 02:16 PM   #3180
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Yeah. Still try to tell me actually July will increase then now pushed to Nov. Lol
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