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Citibank Maxigain Savings Account

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Old 02-12-2018, 07:48 PM   #4111
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So the minimum amount to open is still 15k?
70k to earn base interest
Anything lower earns bonus interest only
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Old 02-12-2018, 08:03 PM   #4112
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Ya..........
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Old 03-12-2018, 07:30 AM   #4113
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If I understand correctly, the based and bonus interest earned can be withdraw any day of the month, before the last day of the month, will NOT affect the lowest balance of the month, which will result the counter to be reset? = Is this correct understanding?
My understanding, it is not the last day of the month, but lowest daily within the month
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Old 03-12-2018, 08:33 AM   #4114
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in order to earn sibor base interest + bonus interest 1.2% assuming with max counter, customers need at least 70k in maxigain account now?
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Old 03-12-2018, 10:35 AM   #4115
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for max counters you should be getting 1.2%
70k is to qualify for the base interest of 70% of SIBOR
yes yes, i already max counter at 1.2% already ....

so in effect i am losing the 0.8% base interest if i don't have 70k by 2 Jan .....

even though 1.2% is still good .... but for that 0.2% i can't "touch" the 50k there ....

might as well put in CIMB for that 1% fuss free and I can freely move the money would worrying for the counter drop
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Old 03-12-2018, 11:32 AM   #4116
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yes yes, i already max counter at 1.2% already ....

so in effect i am losing the 0.8% base interest if i don't have 70k by 2 Jan .....

even though 1.2% is still good .... but for that 0.2% i can't "touch" the 50k there ....

might as well put in CIMB for that 1% fuss free and I can freely move the money would worrying for the counter drop
Might as well put SSB, can freely move every month... prorated interest and near 2% first year.
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Old 03-12-2018, 11:43 AM   #4117
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Might as well put SSB, can freely move every month... prorated interest and near 2% first year.
i already got $45k in SSB .... eh, they up to $100k per person liao ah

well , in terms of speed .... having it in CIMB is still faster then redeeming SSB

time to move on i guess .... too much effort for the 1.2%
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Old 03-12-2018, 11:58 AM   #4118
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i already got $45k in SSB .... eh, they up to $100k per person liao ah

well , in terms of speed .... having it in CIMB is still faster then redeeming SSB

time to move on i guess .... too much effort for the 1.2%
seems like u are able to meet the 70k requirement. if so u should consider again if u are able to not touch that 70k for a long time.
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Old 03-12-2018, 01:19 PM   #4119
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seems like u are able to meet the 70k requirement. if so u should consider again if u are able to not touch that 70k for a long time.
haven really took a deep look at it yet, but not so sure if i want to take out $20k from ssb to top up into the maxi.

but, i would need cash lying around ... baby coming soon.

The thing with citi is that the max counter will drop if i take out money to use ... takes a damn long time to rebuilt after that.

end of the day, i might just take out half of what is in citibank to buy another trench of SSB .... maybe ....
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Old 03-12-2018, 01:45 PM   #4120
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haven really took a deep look at it yet, but not so sure if i want to take out $20k from ssb to top up into the maxi.

but, i would need cash lying around ... baby coming soon.

The thing with citi is that the max counter will drop if i take out money to use ... takes a damn long time to rebuilt after that.

end of the day, i might just take out half of what is in citibank to buy another trench of SSB .... maybe ....
Wait till later today to see next mth's SSB. Should be better than this mth. Then nearer last 2 days of application close check the estimate for next next SSB. Based on the rate decide whether to top up maxigain or go for SSB.

Citigain is no good for those who need to withdraw. Having a baby cost a bomb. BTW, congrats.
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Old 03-12-2018, 02:24 PM   #4121
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this is a variation of a structured deposit, undelying is sibor, the peg (%) is controlled by the bank and not fixed forever, so if u dun have the cash and holding power (fixed deposit equivalent), u cannot win. U lose at the beginning, hoping to win over long period, especially if sibor moves up. then when u win, the bank tries to win back by changing the peg and other terms.
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Old 03-12-2018, 03:01 PM   #4122
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Wait till later today to see next mth's SSB. Should be better than this mth. Then nearer last 2 days of application close check the estimate for next next SSB. Based on the rate decide whether to top up maxigain or go for SSB.

Citigain is no good for those who need to withdraw. Having a baby cost a bomb. BTW, congrats.
thanks for advice adn congrats ...
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Old 03-12-2018, 05:11 PM   #4123
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this is a variation of a structured deposit, undelying is sibor, the peg (%) is controlled by the bank and not fixed forever, so if u dun have the cash and holding power (fixed deposit equivalent), u cannot win. U lose at the beginning, hoping to win over long period, especially if sibor moves up. then when u win, the bank tries to win back by changing the peg and other terms.
True... if it goes below 2%, might switch out the funds, max out DBS/UOB one and SSB instead.
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Old 03-12-2018, 07:03 PM   #4124
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If withdraw at counter 7, the counter will drop to 6 right? Then if nothing is inside the account, will it drop to 0 on the 3rd month?

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Old 03-12-2018, 07:06 PM   #4125
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If withdraw at counter 7, the counter will drop to 6 right? Then if nothing is inside the account, will it drop to 0 on the 3rd month?

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withdraw at Counter 6 (no need 7) ... in the month that statement shows 6, can withdraw in the same month ... Counter will remain at 6

dont leave ZERO balance, bcos counter dont clock & 2 consecutive months at ZERO will reset the counter
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