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Citibank Maxigain Savings Account

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Old 27-10-2018, 02:36 PM   #3841
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Went to a Citibank branch yesterday.

From Dec 2018, Maxigain will be pegged @ 0.7 SIBOR

Min sum increased to 70K.

I walked away wondering if it's still a good deal - which it probably still is.
Hosey liao

from July to Nov now Dec maybe 2085 next
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Old 27-10-2018, 02:40 PM   #3842
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70k get $250 ... 100k get $300

read this https://www.citibank.com.sg/global_d..._Programme.pdf
Not sure if i heard it wrongy but he said deposit 70k get $700 then i wanted to start shifting my funds around but if its 250...then i think i lose out more by touching my other funds
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Old 27-10-2018, 02:46 PM   #3843
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Not sure if i heard it wrongy but he said deposit 70k get $700 then i wanted to start shifting my funds around but if its 250...then i think i lose out more by touching my other funds
250/300 welcome reward is just for the fresh funds

700/750 for 70k/100k is provided u also buy Insurance, Invest, buy Unit Trust
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Old 27-10-2018, 02:46 PM   #3844
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Went to a Citibank branch yesterday.

From Dec 2018, Maxigain will be pegged @ 0.7 SIBOR

Min sum increased to 70K.

I walked away wondering if it's still a good deal - which it probably still is.
Did you get the name of the person who told you that?
Didn't think so.

I can also post, I was told Maxi-gain will be pegged to 20x of SIBOR.

Next time someone tells you that they heard the account will be changing, ask for it in writing with their name/designation attached. I'm willing to put money down that they will refuse to give it to you, because they're just making it up.
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Old 27-10-2018, 02:48 PM   #3845
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Went to a Citibank branch yesterday.

From Dec 2018, Maxigain will be pegged @ 0.7 SIBOR

Min sum increased to 70K.

I walked away wondering if it's still a good deal - which it probably still is.
Another rumour monger.
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Old 27-10-2018, 03:18 PM   #3846
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Lol shift date again.

I think frankly its citibank staff at fault

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Old 27-10-2018, 03:59 PM   #3847
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Sibor Rate since Jan 2018

Wanted to check if the 1 mth sibor rates i saw in POSB link applicable for the maxigain: https://www.posb.com.sg/iwov-resourc...sibor_posb.pdf

Jan 1.331%
Feb 1.003%
Mar 1.250%
Apr 1.375%
May 1.377%
Jun 1.395%
Jul 1.402%
Aug 1.507%
Sep 1.511%
Oct 1.516%
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Old 27-10-2018, 04:10 PM   #3848
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The Sibor rate flactuates daily and you can check from this website

https://abs.org.sg/rates-sibor
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Old 27-10-2018, 04:30 PM   #3849
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Putting aside sibor base rate, for the bonus rate using 15K deposit, which method below is correct?

Maxigain: 15K

Method 1 (Direct % of deposit amount)
Bonus Amt
0.1% $15.00
0.2% $30.00
0.3% $45.00
0.4% $60.00
0.5% $75.00
0.6% $90.00
0.7% $105.00
0.8% $120.00
0.9% $135.00
1.0% $150.00


Method 2 (multiply number of days in the month /365)
Bonus Amt
0.1% $1.27
0.2% $2.30
0.3% $3.82
0.4% $4.93
0.5% $6.37
0.6% $7.40
0.7% $8.92
0.8% $10.19
0.9% $11.10
1.0% $12.74
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Last edited by jeremysv; 27-10-2018 at 04:37 PM..
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Old 27-10-2018, 04:32 PM   #3850
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Erm yes but its P.A. so thats the amt you get in a year not month

Putting aside sibor base rate, for the bonus rate using 15K deposit, did i compute correctly?

Maxigain: 15K

Bonus Amt
0.1% $15.00
0.2% $30.00
0.3% $45.00
0.4% $60.00
0.5% $75.00
0.6% $90.00
0.7% $105.00
0.8% $120.00
0.9% $135.00
1.0% $150.00
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Old 27-10-2018, 06:26 PM   #3851
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Can someone who opened maxigain account recently recommend me a Citibank officer who opened the account for you and does not tell some bs about upcoming changes etc. i'm so fed up with some guys at the branches i went to who keep telling about those rumor things and asked me to deposit 70k instead of 15k which does not sound right to me. Any recommendation of a good one is appreciated. Thanks!
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Old 27-10-2018, 06:36 PM   #3852
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Erm yes but its P.A. so thats the amt you get in a year not month
Maxigain: 15K (if you deposited on 1st of the month and deposited immediaitely)

Bonus Amt
0.1% $15.00 / 12 = $1.25 then + $15k
0.2% $30.00 + ($1.25 x 0.2%) / 12 = $2.50 then + $15
0.3% $45.00 + ($2.50 x 0.3%) / 12 = $3.75 then + $15
..
...
...


Is this correct?
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Old 27-10-2018, 07:49 PM   #3853
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Maxigain: 15K (if you deposited on 1st of the month and deposited immediaitely)

Bonus Amt
0.1% $15.00 / 12 = $1.25 then + $15k
0.2% $30.00 + ($1.25 x 0.2%) / 12 = $2.50 then + $15
0.3% $45.00 + ($2.50 x 0.3%) / 12 = $3.75 then + $15
..
...
...


Is this correct?
Same as you, I wanted to confirm whether it falls under calculation method 1 or 2 in the picture below

Maxigain account opened on Oct 2018 with 15K deposit
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Last edited by jeremysv; 27-10-2018 at 08:00 PM..
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Old 27-10-2018, 08:01 PM   #3854
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Putting aside sibor base rate, for the bonus rate using 15K deposit, which method below is correct?

Maxigain: 15K

Method 1 (Direct % of deposit amount)
Bonus Amt
0.1% $15.00
0.2% $30.00
0.3% $45.00
0.4% $60.00
0.5% $75.00
0.6% $90.00
0.7% $105.00
0.8% $120.00
0.9% $135.00
1.0% $150.00


Method 2 (multiply number of days in the month /365)
Bonus Amt
0.1% $1.27
0.2% $2.30
0.3% $3.82
0.4% $4.93
0.5% $6.37
0.6% $7.40
0.7% $8.92
0.8% $10.19
0.9% $11.10
1.0% $12.74
The FAQ under the Maxigain website has a detailed example. Perhaps you should read it first.
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Old 27-10-2018, 08:07 PM   #3855
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The FAQ under the Maxigain website has a detailed example. Perhaps you should read it first.
Thanks for pointing it out!



So its calculation 1 assuming sibor remains constant at 1% monthly for simplicity. Monthly rate refers to the number of days in the month / 365 [shown under Month 2 (Feb) as 28/365 in the example from Citibank website faq picture above]
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