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Citibank Maxigain Savings Account

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Old 30-11-2018, 08:17 PM   #4051
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150K & 70K i dont have

if no 70K mean no interest? have to close ah?
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Old 30-11-2018, 08:25 PM   #4052
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With 150k inside how much will interest drop ?
The drop will be 0.1 x average SIBOR

Average NOV SIBOR is 1.61724 (accurate up to 23 Nov) so the difference will be 0.1617%-ish

For 150k account, that works out to be around -$19.93 for 30-day month, and -$20.60 for 31-day month. Broadly speaking, we should be expecting about $20 less per month

Last edited by kehyi4; 30-11-2018 at 08:28 PM..
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Old 30-11-2018, 08:32 PM   #4053
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Any penalty for closing less than 6 mths ?
seems like 50 bucks in their website
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Old 30-11-2018, 09:03 PM   #4054
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I mean, you still can enjoy the bonus interest based on counter. Still not too bad ba?

omg... i dun have 70k to put inside... haiz, time to withdraw out and cancel acct.

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Old 30-11-2018, 09:06 PM   #4055
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Eligible for bonus counter interest only

150K & 70K i dont have

if no 70K mean no interest? have to close ah?
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Old 30-11-2018, 09:42 PM   #4056
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Eligible for bonus counter interest only
No point as max is only 1.2% interest. It's the extra SIBOR component that makes it worthwhile - 70% x 1.6 = 1.02%.
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Old 30-11-2018, 10:37 PM   #4057
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once new terms confirmed, i m gonna reduce my joint account balance to $10, sacrificing the 2 counters earned so far ...
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Old 30-11-2018, 10:42 PM   #4058
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once new terms confirmed, i m gonna reduce my joint account balance to $10, sacrificing the 2 counters earned so far ...
Why $10 ? Fall below fee if less than 10k ?
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Old 30-11-2018, 10:48 PM   #4059
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with this new cap coming in jan. starting a new account that amount still worth it mah? or advise switch to something for the saving will be better?
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Old 30-11-2018, 10:54 PM   #4060
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Why $10 ? Fall below fee if less than 10k ?
Minimum is covered by main single account

... maybe sacrifice existing 10k until counter 6 then withdraw

not sure which is better choice ...

... terms change, so have to adapt
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Old 30-11-2018, 10:59 PM   #4061
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with this new cap coming in jan. starting a new account that amount still worth it mah? or advise switch to something for the saving will be better?
it makes the opportunity cost that much higher ...

does it make sense to open with 15k, avoid fall below, earning just 0.1% incremental monthly, letting counter accumulate, then top up in 10-12 months time ?
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Old 30-11-2018, 11:11 PM   #4062
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Almost 3 years since I started this thread! Lots of fellow members here have been profiting a lot since then, me included. Sad that they will be cutting i/r to 70% of SIBOR and increasing min sum to 70k, but I believe impact is minimal. 10% of SIBOR is only 0.16%...
Yeah loh. May be they already done study and predict Sibor will go up further. If it reaches 1.7, which is not very unlikely, base interest will still maintain at around 1.2%.

Don't care lah. Tomorrow wake up collect interest first...
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Old 30-11-2018, 11:14 PM   #4063
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Why $10 ? Fall below fee if less than 10k ?
Fall below fee i thought is 15k? Anyway i will wait for official announcement on their webpage before transferring out as me dun have 70k... website still states the old tnc tho.

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Old 30-11-2018, 11:29 PM   #4064
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Not worth if you are just starting...

For me i already reached counter 12 but no 70k. But i gues sill still keep it cause of the 1.2% bonus (still higher than most accounts given that no other criteria is needed)

it makes the opportunity cost that much higher ...

does it make sense to open with 15k, avoid fall below, earning just 0.1% incremental monthly, letting counter accumulate, then top up in 10-12 months time ?
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Old 30-11-2018, 11:37 PM   #4065
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You can consider SSB. The rates going up roughly 1.9-2% for the first year already.

Good option similar to this as you cant really withdraw the money but if really need it for emergency, it can be taken out within a month. (The cost is only $2)

with this new cap coming in jan. starting a new account that amount still worth it mah? or advise switch to something for the saving will be better?
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