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Citibank Maxigain Savings Account

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Old 18-11-2018, 05:40 PM   #3991
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bonus interest on lowest balance

Intending to do a top up under the new funds topup promo for existing customers.

Read thru the TnC again to gain a better understanding.

https://www.citibank.com.sg/gcb/depo...axiGainTnC.pdf

So now i gather that if I have $10,000 for ONE day of the month, and even if for the remaining days of the month I have $150,000, the bonus interest is only paid for $10,000 because that day was the 'lowest balance'. ("The lowest balance of the month that your Maxigain account is opened will be the lowest amount of funds in your MaxiGain account at any point in time in that month").

Someone has defined "any point in time" as the sum of end of day balance. I hope its true and not literally "at any one time".

This account has been working well for me so far and it is the best way to earn high interests fuss-free without salary credit, bill payment and credit card spending to monitor. I believe this is most suitable for people who just wants to dump the money there and slowly let it compound by itself to $150,000.
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Old 18-11-2018, 06:45 PM   #3992
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the last I checked, fresh fund top up promo not applicable to maxigain ... just take note
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Old 18-11-2018, 10:24 PM   #3993
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Intending to do a top up under the new funds topup promo for existing customers.

Read thru the TnC again to gain a better understanding.

https://www.citibank.com.sg/gcb/depo...axiGainTnC.pdf

So now i gather that if I have $10,000 for ONE day of the month, and even if for the remaining days of the month I have $150,000, the bonus interest is only paid for $10,000 because that day was the 'lowest balance'. ("The lowest balance of the month that your Maxigain account is opened will be the lowest amount of funds in your MaxiGain account at any point in time in that month").

Someone has defined "any point in time" as the sum of end of day balance. I hope its true and not literally "at any one time".

This account has been working well for me so far and it is the best way to earn high interests fuss-free without salary credit, bill payment and credit card spending to monitor. I believe this is most suitable for people who just wants to dump the money there and slowly let it compound by itself to $150,000.
Lowest is the lowest EOD, but who knows what is EOD. Someone said 2300 hour is EOD and not 2359. So DYODD, please.
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Old 19-11-2018, 11:54 AM   #3994
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So now i gather that if I have $10,000 for ONE day of the month, and even if for the remaining days of the month I have $150,000, the bonus interest is only paid for $10,000 because that day was the 'lowest balance'. ("The lowest balance of the month that your Maxigain account is opened will be the lowest amount of funds in your MaxiGain account at any point in time in that month").
Yes, this is correct.

Someone has defined "any point in time" as the sum of end of day balance. I hope its true and not literally "at any one time"
Not so much that 'someone has defined', but that some people have said bank staff told them that it's the EOD balance; that said, the TOC is worded such that it doesn't have to be, and can be the lowest balance at any point in time during the entire month - but even if that was true, it doesn't really matter to most people anyway.
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Old 20-11-2018, 07:25 PM   #3995
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Yes, this is correct.



Not so much that 'someone has defined', but that some people have said bank staff told them that it's the EOD balance; that said, the TOC is worded such that it doesn't have to be, and can be the lowest balance at any point in time during the entire month - but even if that was true, it doesn't really matter to most people anyway.
I am just thinking of the scenario where in a single day, I FAST out say $30K, but then I FAST IN $100K. Net increase in that day's balance is $70K, but going by the "any point in time" definition, the bank might only award me the "lowest balance" after the FAST OUT, and might also drop my bonus interest steps.?
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Old 20-11-2018, 08:12 PM   #3996
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the last I checked, fresh fund top up promo not applicable to maxigain ... just take note
Thanks for the headsup, I noticed it now.

"Funds credited into cash management account, Citi MaxiGain Savings account, and SGD time deposit account
where such time deposit has an interest rate of one (1) per cent or higher will not count towards a “Top Up”."
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Old 20-11-2018, 08:20 PM   #3997
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Thanks for the headsup, I noticed it now.

"Funds credited into cash management account, Citi MaxiGain Savings account, and SGD time deposit account
where such time deposit has an interest rate of one (1) per cent or higher will not count towards a “Top Up”."
speak to your Personal Banker or RM ... they may be able to obtain an approval from their higher-ups and grant you an exception. have that in B&W.

have to monitor the award crediting after required holding period bcos it will require a manual instruction again from PB/RM to relevant team to credit award

just sharing
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Old 27-11-2018, 08:51 AM   #3998
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may i ask if this is still rated as one of the highest rate?
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Old 27-11-2018, 08:58 AM   #3999
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may i ask if this is still rated as one of the highest rate?
yes ... but only after 10 to 12 months (assuming nothing else changes)

if u have 15k to spare, my advice is start now, sit back and let the counters clock
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Old 27-11-2018, 09:53 AM   #4000
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yes ... but only after 10 to 12 months (assuming nothing else changes)

if u have 15k to spare, my advice is start now, sit back and let the counters clock
thats good, i have started since year start, place around 50k, average is like $70 per month as interest.
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Old 27-11-2018, 12:14 PM   #4001
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thats good, i have started since year start, place around 50k, average is like $70 per month as interest.
that only like 1.68% p.a.. think you should be getting more leh if you started since year start
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Old 27-11-2018, 02:28 PM   #4002
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how long should i keep them? or there's something better?
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Old 27-11-2018, 03:13 PM   #4003
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Is it only can be applied physically at bank? How to transfer from OCBC account after?
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Old 27-11-2018, 04:09 PM   #4004
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Is it only can be applied physically at bank? How to transfer from OCBC account after?
I remember I applied online, a lady called me and asked me to go to a branch to open the account
I FAST the amount from OCBC online

Posted from PCWX using Nokia 3310
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Old 28-11-2018, 03:36 PM   #4005
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I remember I applied online, a lady called me and asked me to go to a branch to open the account
I FAST the amount from OCBC online

Posted from PCWX using Nokia 3310
Thanks! So means still have to go down branch personally...
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