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Citibank Maxigain Savings Account

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Old 08-12-2018, 01:43 PM   #4216
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:s22 i refer ppl who dont have 70K!


Oh ya... so we should look at bonus rate... which is also 1.2% since he is counter 12

4) What interest will I earn if I have less than S$70,000 in Maxigain from 2 January 2019 onwards?
Bonus Interest Rate shall apply provided requirements are met. See Question 8.
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Old 08-12-2018, 02:00 PM   #4217
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:s22 i refer ppl who dont have 70K!
ya and that answer did say what .... n so many ppl answer u before already
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Old 08-12-2018, 07:57 PM   #4218
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Yes if you have reached Counter 6, there is a safety net at Counter 6 which you can withdraw from your account without resetting the counter.

Currently, the SIBOR is at 1.64125% so the base interest rate can be approximately 1.15% from 2 Jan. You can sum this and the bonus interest rate based on the counter that you are at to derive the total interest rate.

Wrote a piece on the revision to help provide clarity
https://theboywhoprocrastinates.blog...-for-citi.html
Well written !!!!


Thanks for info !
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Old 08-12-2018, 08:20 PM   #4219
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Well written !!!!


Thanks for info !
No problem! Glad it helps
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Old 08-12-2018, 10:07 PM   #4220
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Howcome I am only earning around $17 more interest when topping 70k base to 90k. Is that the norm?
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Old 08-12-2018, 10:34 PM   #4221
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Howcome I am only earning around $17 more interest when topping 70k base to 90k. Is that the norm?
Which day of the month u did the top up?
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Old 12-12-2018, 03:18 PM   #4222
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Howcome I am only earning around $17 more interest when topping 70k base to 90k. Is that the norm?
If i recall, bonus is based on the lowest balance of the previous month.

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Old 12-12-2018, 11:07 PM   #4223
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got abt 15k inside the maxigain acct. on counter 4 (nov). thou not able to up to 70k, think will juz continue this acct.

1.2% still better than normal 0.05% bah...
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Old 13-12-2018, 07:50 AM   #4224
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did anyone received letter from Citibank to top up 70k in order to earn base interest for existing customers?
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Old 13-12-2018, 09:58 AM   #4225
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did anyone received letter from Citibank to top up 70k in order to earn base interest for existing customers?
did not check, however i called up citibank cso. i have 2 accounts, each had 15k previously as i wanted to wait till counter hits 12. now its at the 11th counter.

the CSO advised me to transfer the 15k from one account to another on 1st January 2019 (after getting the rebates for Dec 2018 on 31st Dec). Then, send in a request on 1st January (call them) to cancel the other account. Thereafter top up remainder to 70k using FAST transfer. The new terms starts on 2nd Jan 2019.
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Old 13-12-2018, 10:43 AM   #4226
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For those who wanted to topup from 15k to 70k, pls consider this:
If one topup, say from 15k to 70k on 2 Jan, then min balance for Jan is still 15k as 1jan end of day balance is still 15k.

If one topup on 31dec, then Jan min balance is $70k.
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Old 13-12-2018, 11:01 AM   #4227
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For those who wanted to topup from 15k to 70k, pls consider this:
If one topup, say from 15k to 70k on 2 Jan, then min balance for Jan is still 15k as 1jan end of day balance is still 15k.

If one topup on 31dec, then Jan min balance is $70k.
Will 31 Dec cut off timing be earlier as usual working day?
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Old 13-12-2018, 11:17 AM   #4228
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For those who wanted to topup from 15k to 70k, pls consider this:
If one topup, say from 15k to 70k on 2 Jan, then min balance for Jan is still 15k as 1jan end of day balance is still 15k.

If one topup on 31dec, then Jan min balance is $70k.
will this affect the interest if i topup to 70k on 31 dec or top up on 1st jan? i thought interest is calculated daily. i got no intention of touching this 70k as its just spare cash. No intention of withdraw interest etc. Just leaving it inside.
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Old 13-12-2018, 11:47 AM   #4229
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No 70K.. Lol.
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Old 13-12-2018, 12:01 PM   #4230
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will this affect the interest if i topup to 70k on 31 dec or top up on 1st jan? i thought interest is calculated daily. i got no intention of touching this 70k as its just spare cash. No intention of withdraw interest etc. Just leaving it inside.
As what he mentioned, if you topup in January, your mininum balance is still 15k, so you are not entitled to the bonus interest.. therefore best to up before January if you intend to top up
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