Citibank Maxigain Savings Account

vsvs24

Supremacy Member
Joined
Feb 3, 2018
Messages
9,992
Reaction score
2,754
Should apply today. Dun think u eligible for the top up promo if you are not already city priority/gold customer, refer to the TnC for the promo.

“Customer” refers to an existing Citi Primary Customer who is the main account holder of a Citi Priority, Citigold, or Citigold Private Client relationship, and whose first banking account with Citi had been opened at least three (3) months before the participation in this Promotion.

Cannot have net cash outflow from your account during these 3 months also

Sorry. Can I confirm again? I am not asking about counter drop for withdrawing interest.

Asking about whether withdrawing interest monthly will affect the topup promo.

This term for topup about cannot have net cash outflow from your account during these 3 months does not mean will not get topup rebate if withdraw interest monthly in the 3 mths right ?
 

testingabc

Arch-Supremacy Member
Joined
Sep 10, 2013
Messages
10,680
Reaction score
539
citibank maxigain looks good but if take out money is hard is it? for example i have 71k, take out few hundred the count next month will reset ?
 

NTTDoCoMo

Supremacy Member
Joined
Jan 26, 2002
Messages
5,400
Reaction score
403
citibank maxigain looks good but if take out money is hard is it? for example i have 71k, take out few hundred the count next month will reset ?

Maxigain not suitable to be a transactional or daily account.

The reset depend on the Counter you are at, the FAQ has an illustration of the Counter reset.

What happens if my lowest balance this month is lower than the lowest balance in the previous month?

https://www.citibank.com.sg/gcb/deposits/mxgn-savacc.htm
 

AhPohPoh

Junior Member
Joined
Apr 5, 2019
Messages
74
Reaction score
0
Ya just take out interest every month. But don’t use it as a transactional account.

So if you put 70k inside, make sure this money you don’t really need to use on a day to day.

The moment any point of time this month if your balance is even 1 cents less than last month lowest balance, the counter resets.

citibank maxigain looks good but if take out money is hard is it? for example i have 71k, take out few hundred the count next month will reset ?
 

havetheveryfun

High Supremacy Member
Joined
Jul 16, 2010
Messages
26,285
Reaction score
3,416
Ya just take out interest every month. But don’t use it as a transactional account.

So if you put 70k inside, make sure this money you don’t really need to use on a day to day.

The moment any point of time this month if your balance is even 1 cents less than last month lowest balance, the counter resets.

not necessarily reset...

if you above counter 6, it will only drop to counter 6 and not below, unless you have $0 balance (other special conditions)

so still got some safety net..
 

AhPohPoh

Junior Member
Joined
Apr 5, 2019
Messages
74
Reaction score
0
Yup sorry i didn’t make myself clearer. Was thinking more in the perspective of prospective new ‘users’ who might not understand how this counter thing works.

Any lower balance this month as compared to the previous month during the 0/1/2/3/4/5 counter will make the counter drop back to 0.

From month 6 onwards, the counter will drop back to 6, so any lower balance as compared to the previous month, when you have 11 counters will make it drop to 6 counters. That becomes the new net. So it’ll be 0.6% + 70% Sibor.

With that said... I just realized that they have not credited interest for the month of april? Or is it just me.

not necessarily reset...

if you above counter 6, it will only drop to counter 6 and not below, unless you have $0 balance (other special conditions)

so still got some safety net..
 

NTTDoCoMo

Supremacy Member
Joined
Jan 26, 2002
Messages
5,400
Reaction score
403
Yup sorry i didn’t make myself clearer. Was thinking more in the perspective of prospective new ‘users’ who might not understand how this counter thing works.

Any lower balance this month as compared to the previous month during the 0/1/2/3/4/5 counter will make the counter drop back to 0.

From month 6 onwards, the counter will drop back to 6, so any lower balance as compared to the previous month, when you have 11 counters will make it drop to 6 counters. That becomes the new net. So it’ll be 0.6% + 70% Sibor.

With that said... I just realized that they have not credited interest for the month of april? Or is it just me.

Interest not yet in... when be in probably by morning.
 

havetheveryfun

High Supremacy Member
Joined
Jul 16, 2010
Messages
26,285
Reaction score
3,416
Yup sorry i didn’t make myself clearer. Was thinking more in the perspective of prospective new ‘users’ who might not understand how this counter thing works.

Any lower balance this month as compared to the previous month during the 0/1/2/3/4/5 counter will make the counter drop back to 0.

From month 6 onwards, the counter will drop back to 6, so any lower balance as compared to the previous month, when you have 11 counters will make it drop to 6 counters. That becomes the new net. So it’ll be 0.6% + 70% Sibor.

With that said... I just realized that they have not credited interest for the month of april? Or is it just me.

they only credit earlier if the last day of the month falls on a sat or sun.

if last day of month is a weekday, it will be in by the 1st day of the next month early morning.
 

Lex1989

Banned
Joined
Nov 15, 2008
Messages
19,906
Reaction score
2,502
Possible if I open an account with 15K and leave it for a year for it to raise its counter to 1.2%

Without adding in even a cent?
 

NTTDoCoMo

Supremacy Member
Joined
Jan 26, 2002
Messages
5,400
Reaction score
403
TnC change they will inform or not?

Dont think i will monitor TnC for a damn year right?

Or best i just do a recurring 0.01 per month?

They will inform if TnC change. Previous TnC changes was notified via email and website.

You can do recurring deposit to prevent account becoming inactive.
 

Lex1989

Banned
Joined
Nov 15, 2008
Messages
19,906
Reaction score
2,502
They will inform if TnC change. Previous TnC changes was notified via email and website.

You can do recurring deposit to prevent account becoming inactive.

May i know what was the previous TnC changes all about? If you mind to share.

Thanks bro!
 

AhPohPoh

Junior Member
Joined
Apr 5, 2019
Messages
74
Reaction score
0
Sometimes t&c change might be more than just having you to put in increasing amount every month.

They might change t&c to minimum 35k in maxigain to gain counter or potentially bigger changes.

But ya they should email the changes to you except sometimes we tend to overlook these emails as ‘spam’

TnC change they will inform or not?

Dont think i will monitor TnC for a damn year right?

Or best i just do a recurring 0.01 per month?
 

NTTDoCoMo

Supremacy Member
Joined
Jan 26, 2002
Messages
5,400
Reaction score
403
May i know what was the previous TnC changes all about? If you mind to share.

Thanks bro!
You can refer to the blog in the below url

https://theboywhoprocrastinates.blogspot.com/2018/12/revision-of-interest-rates-for-citi.html
 

Lex1989

Banned
Joined
Nov 15, 2008
Messages
19,906
Reaction score
2,502

Sometimes t&c change might be more than just having you to put in increasing amount every month.

They might change t&c to minimum 35k in maxigain to gain counter or potentially bigger changes.

But ya they should email the changes to you except sometimes we tend to overlook these emails as ‘spam’

thank you to both brother to share!

Cheers man, will read it!
 

ericccc

Member
Joined
Jul 28, 2014
Messages
284
Reaction score
0
Is there any maximum interest rate can be earned?
Example like counter 12 = 1.2%
Then sibor rate 2% = 1.4%
Total 2.6% can be earned for the first $70k?
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top