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Citibank Maxigain Savings Account

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Old 01-12-2018, 04:42 PM   #4096
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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.
still worth. why not worth. unless u are very confident other options like fixed deposits will reach more than 2.3% in 12 months time

and if fixed deposits manage to reach 2.3% ... it would also highly likely means the SIBOR rate would also have increased.. so....

only not worth if u dont have at least 70k to put in.
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Old 01-12-2018, 06:37 PM   #4097
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Need to seek the advice of experts. Given the coming change wef 2 Jan, if I have enough to top up immediately to 70k, should I do it today, 31 Dec or 2 Jan ?

Dec is counter 10. My funds in Maybank earning 1.9% if I don't move immediately.

Last edited by vsvs24; 01-12-2018 at 06:40 PM..
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Old 01-12-2018, 07:17 PM   #4098
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Need to seek the advice of experts. Given the coming change wef 2 Jan, if I have enough to top up immediately to 70k, should I do it today, 31 Dec or 2 Jan ?

Dec is counter 10. My funds in Maybank earning 1.9% if I don't move immediately.
End of month top up is always the best
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Old 01-12-2018, 07:45 PM   #4099
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I'm at counter 2 with only 15k in the account. Does that means i can continue to keep the 15k in the account to earn the counters with no base interest?
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Old 01-12-2018, 07:50 PM   #4100
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I'm at counter 2 with only 15k in the account. Does that means i can continue to keep the 15k in the account to earn the counters with no base interest?
Yes, from Jan. This Dec still have.
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Old 01-12-2018, 07:51 PM   #4101
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End of month top up is always the best
How so? Mind explaining?
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Old 02-12-2018, 12:14 AM   #4102
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i have bout $52k in the account now, at max counter... so come Jan 2019 and i dun maintain $70k , it will drop to 0.8% instead of 2% ?
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Old 02-12-2018, 12:28 AM   #4103
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i have bout $52k in the account now, at max counter... so come Jan 2019 and i dun maintain $70k , it will drop to 0.8% instead of 2% ?
for max counters you should be getting 1.2%
70k is to qualify for the base interest of 70% of SIBOR
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Old 02-12-2018, 07:30 AM   #4104
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I think the main issue is whether the bonus is paid or not on the following month. Based on the stated condition:

“The lowest balance of that month will be the lowest amount of funds in your MaxiGain account at any point in time in the month”

For example on 1-Dec at 0 Hr, my balance is $50k. Then on 1-Dec at 0:0:01 hr I deposited new fund of $50k. And I am not withdrawing any $$ this Dec. What will be my lowest balance in Dec, $50k or $100k?

Strictly speaking, it should be $50k as it stated “any point in time”. I don’t have an official answer to my own question, maybe this has been answered or asked before, anyone has any knowledge or experience, please share. Thanks.

How so? Mind explaining?

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Old 02-12-2018, 09:02 AM   #4105
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How so? Mind explaining?
U cannot Google? Fking lazy.

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Old 02-12-2018, 09:12 AM   #4106
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Your daily balance can fluctuate throughout the day, but it is end of day balance that is used for computation. End of day (the exact hour:mins) will depend on the bank's cut off time for the day, which is typically late night hours.
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Old 02-12-2018, 09:19 AM   #4107
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End of month top up is always the best
Always is wrong.

End-of-month top-up is for the purpose of 'optimizing' your bonus interest.

Your base interest accrues daily, so if you top up on 1st of the month, you will get 30 days of base interest.
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Old 02-12-2018, 12:02 PM   #4108
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I am currently on counter 4 with $15k. Have $75k with UOB one (2.43%) so I do not think it is worth-it to top up CitiMaxi to $70k now. But I still see some value in this account if I reach counter 12 (assuming they dont change their terms next year again)

To maximise my interest of the $15k, I was thinking of just leaving $100 in the account when I reach counter 7 (will reset to counter 6 for that month), and then move the $15k to my DBS multiplier account which I can earn 2% ($25 interest/month) which is still higher than the account service fee of $15.

By the time i reach counter 12, i should have enough funds to top up till 70k.

Does my plan makes sense? Would appreciate any advice. Thanks!
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Old 02-12-2018, 01:28 PM   #4109
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Always is wrong.

End-of-month top-up is for the purpose of 'optimizing' your bonus interest.

Your base interest accrues daily, so if you top up on 1st of the month, you will get 30 days of base interest.
Hanor i also get 30days of base too
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Old 02-12-2018, 01:44 PM   #4110
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I am currently on counter 4 with $15k. Have $75k with UOB one (2.43%) so I do not think it is worth-it to top up CitiMaxi to $70k now. But I still see some value in this account if I reach counter 12 (assuming they dont change their terms next year again)

To maximise my interest of the $15k, I was thinking of just leaving $100 in the account when I reach counter 7 (will reset to counter 6 for that month), and then move the $15k to my DBS multiplier account which I can earn 2% ($25 interest/month) which is still higher than the account service fee of $15.

By the time i reach counter 12, i should have enough funds to top up till 70k.

Does my plan makes sense? Would appreciate any advice. Thanks!
Then on counter 7 you will be hit by fall below charge fee?
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