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Citibank Maxigain Savings Account

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Old 01-12-2018, 09:35 AM   #4081
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How to know which counter I am at? Canít seem to know from Internet banking
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Old 01-12-2018, 09:37 AM   #4082
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How to know which counter I am at? Canít seem to know from Internet banking
Download statement.
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Old 01-12-2018, 10:14 AM   #4083
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currently using dbs multiplier getting about 2-2.2% p.a there and parking my spare cash in maxigain guess ill move my fund from dbs to citibank when i accumulate the max counters
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Old 01-12-2018, 10:46 AM   #4084
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From 0.8 of SIBOR to 0.7 represents a drop of 0.16% (assuming SIBOR is 1.6). That represents a loss of interest of $240 per year for 150k deposit. I think this suffices to say that one should keep an active lookout for possible alternatives for Savings Account.
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Old 01-12-2018, 11:36 AM   #4085
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Now everyone is seriously talking about this rumor came true. Pity those who shared the info before hand and get lectured ones...

But I still think it's not bad as a saving account that doesn't require salary credit, CC spend, GIRO etc and pay full interest up to 150K cap. It's a good supplement for those type of saving accounts if one has enough spare cash. Another one is CIMB at 1% with min 1K deposit, zero criteria required.
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Old 01-12-2018, 12:53 PM   #4086
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Hmm i guess this came true...

For those that just opened the account less than 6 months i think its not worth to continue anymore...

I suggest to call in and ask if its possible to cancel the account without penalty because of the change in TnCs.



I think the branch stuff is trying to "take precautions".

Correct me if I'm wrong, I believe theres a early account closure fee $50 (closed in less than 6 mths). Thus they need to inform customer first beforehand so if TnC change you cannot go back and cancel the account. This means that your 15k is trapped inside for 6 months with lesser interest
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Old 01-12-2018, 12:59 PM   #4087
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I think the branch stuff is trying to "take precautions".

Correct me if I'm wrong, I believe theres a early account closure fee $50 (closed in less than 6 mths). Thus they need to inform customer first beforehand so if TnC change you cannot go back and cancel the account. This means that your 15k is trapped inside for 6 months with lesser interest
https://www.citibank.com.sg/gcb/land...axiGainTnC.pdf

12. The Bank is entitled, at any time and from time to time, in its reasonable discretion with reasonable notice, to amend, vary or modify any terms and conditions pertaining to the MaxiGain account with effect from such date as the Bank may determine.
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Old 01-12-2018, 01:06 PM   #4088
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If is the interest is still better than other than is OK to put there.. Unless you find a better one.
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Old 01-12-2018, 01:44 PM   #4089
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Has anyone tried topping up on the 1st of the month? Did you get the bonus interest at the end of next month?
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Old 01-12-2018, 02:02 PM   #4090
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It seems from 2 Jan 2019, even the balance above $150k also won't earn the bonus interest (up to 1.2% p.a.).\
https://www.citibank.com.sg/global_docs/pdf/FAQ.pdf
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Old 01-12-2018, 02:15 PM   #4091
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It seems from 2 Jan 2019, even the balance above $150k also won't earn the bonus interest (up to 1.2% p.a.).\
https://www.citibank.com.sg/global_docs/pdf/FAQ.pdf
Does that mean we have to withdraw interest timely every month?
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Old 01-12-2018, 02:16 PM   #4092
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Wow. Nice nerf. Lol.
Now need to be diligent every month.
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Old 01-12-2018, 02:55 PM   #4093
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actually still good la.. even with 0.7 and assuming sibor 1.6 and max counters still 2.32%. i doubt can find any better replacement excluding those with alot conditions attached such as saveup etc
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Old 01-12-2018, 03:03 PM   #4094
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actually still good la.. even with 0.7 and assuming sibor 1.6 and max counters still 2.32%. i doubt can find any better replacement excluding those with alot conditions attached such as saveup etc
Only if at counter 12 or close to it. No point opening new Maxigain. I have a single at counter 11 in Jan. Will keep it. Have a joint at counter 4 in Jan. Will probably close that.
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Old 01-12-2018, 03:12 PM   #4095
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Yes.... Done that more than a year ago

Has anyone tried topping up on the 1st of the month? Did you get the bonus interest at the end of next month?
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