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Citibank Maxigain Savings Account

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Old 03-12-2018, 02:24 PM   #4126
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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   #4127
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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   #4128
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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   #4129
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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   #4130
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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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Old 03-12-2018, 07:13 PM   #4131
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if I fund $50k on 31st Dec which is new year's eve monday

my ADB for jan will contain this full amount i presume?

i recall citi value date not so fast on weekend etc
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Old 03-12-2018, 07:27 PM   #4132
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if I fund $50k on 31st Dec which is new year's eve monday

my ADB for jan will contain this full amount i presume?

i recall citi value date not so fast on weekend etc
do u mean ADB for Dec instead ?

if u FAST on 31 Dec (Mon), it shld be value on same day.
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Old 03-12-2018, 07:32 PM   #4133
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do u mean ADB for Dec instead ?

if u FAST on 31 Dec (Mon), it shld be value on same day.
thanks!

think i used the wrong term,

i just wanted my jan lowest balance to reflect the new $50k, but was afraid citi will value my transfer done on the eve of holiday on the next working day
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Old 04-12-2018, 12:11 AM   #4134
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thanks!

think i used the wrong term,

i just wanted my jan lowest balance to reflect the new $50k, but was afraid citi will value my transfer done on the eve of holiday on the next working day
Reason so being? Anw fast is immediate, if you are worried do at 12pm, money sure cross one...
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Old 04-12-2018, 06:56 AM   #4135
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Hi, with the revised terms, if I leave $500 in the maxigain account, will the bonus interest counter clock?
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Old 04-12-2018, 07:05 AM   #4136
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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
so in order to Maintain counter 6. Just keep donating $1 as fall below fee...

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Old 04-12-2018, 01:46 PM   #4137
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Anybody close their maxigain account liao? Must go down to the bank?
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Old 04-12-2018, 02:04 PM   #4138
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so in order to Maintain counter 6. Just keep donating $1 as fall below fee...

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by this token, $0.01 works too right?
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Old 04-12-2018, 03:59 PM   #4139
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Wrote a short summary about the upcoming Maxigain revisions here and the implications. Hope I covered the main points.

https://iwandered.net/citi-maxigain-...revision-2019/
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Old 04-12-2018, 04:46 PM   #4140
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Wrote a short summary about the upcoming Maxigain revisions here and the implications. Hope I covered the main points.

https://iwandered.net/citi-maxigain-...revision-2019/
u dont need to park 70k to accumulate the counters. can do it for less.
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