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Citibank Maxigain Savings Account

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Old 22-01-2019, 03:10 AM   #4606
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I logged a ticket via Citi Phone regarding the Top Up Promotion and today i received a Callback from a Personal Banker.

After she checked internally with the deposit team, she mentioned that my 31 Dec 2018 is eligible for the Jan 2019 Top Up Promotion and I will need to sign a Form for the Promotion.
Can share the personal banker contact? My RM said only deposit in Jan is eligible
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Old 22-01-2019, 06:46 AM   #4607
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I logged a ticket via Citi Phone regarding the Top Up Promotion and today i received a Callback from a Personal Banker.

After she checked internally with the deposit team, she mentioned that my 31 Dec 2018 is eligible for the Jan 2019 Top Up Promotion and I will need to sign a Form for the Promotion.
Can I know how much you topup?
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Old 22-01-2019, 11:13 PM   #4608
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People... a quick question.

If just a normal top up (already counter 12), it is advisable to do so only on the last day of the month right? So that the fund can earn interest elsewhere as it is the previous month's lowest balance that counts and not previous month's average balance...
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Old 22-01-2019, 11:26 PM   #4609
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People... a quick question.

If just a normal top up (already counter 12), it is advisable to do so only on the last day of the month right? So that the fund can earn interest elsewhere as it is the previous month's lowest balance that counts and not previous month's average balance...
If you think harder (clue: lowest balance), it is first day of the month. It is just one day of interest difference anyway if you put on last day.
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Old 22-01-2019, 11:36 PM   #4610
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If you think harder (clue: lowest balance), it is first day of the month. It is just one day of interest difference anyway if you put on last day.
Read from TnC

The Bonus Interest is computed at the end of each
month based on the preceding month's lowest balance, and number of days in the preceding month, and paid on the last
day of the month.


If I transfer in on 31 Jan, at the end of Feb I will get the interest based on the lowest balance in January - so I should transfer on 31 Jan, shouldn't I...

Did I miss something?
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Old 22-01-2019, 11:40 PM   #4611
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Read from TnC

The Bonus Interest is computed at the end of each
month based on the preceding month's lowest balance, and number of days in the preceding month, and paid on the last
day of the month.


If I transfer in on 31 Jan, at the end of Feb I will get the interest based on the lowest balance in January - so I should transfer on 31 Jan, shouldn't I...

Did I miss something?
What is your lowest balance in Jan? Why not 1 Feb? If you can't understand, then do 31 Jan lor. Only 1 day difference.
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Old 23-01-2019, 12:05 AM   #4612
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What is your lowest balance in Jan? Why not 1 Feb? If you can't understand, then do 31 Jan lor. Only 1 day difference.
You are right, it is the lowest balance, so even I transfer on 31 Jan, it won't change the fact that I have a lower balance on January.

All clear. I will transfer on 1 Feb. Thanks!
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Old 23-01-2019, 12:56 AM   #4613
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Newbie question but why do they advertise the bonus interest as 1.2% pa when it's actually closer to 0.65%? Calculation: imgur.com/hqgiAiW
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Old 23-01-2019, 05:49 AM   #4614
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Newbie question but why do they advertise the bonus interest as 1.2% pa when it's actually closer to 0.65%? Calculation: imgur.com/hqgiAiW
Bonus interest is by counter. 1 counter = 0.1%, and you can accumulate up to 12 counters, hence 1.2%.

If you're referring to base interest, it's 0.7 x 1 month SIBOR.
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Old 23-01-2019, 12:52 PM   #4615
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If you think harder (clue: lowest balance), it is first day of the month. It is just one day of interest difference anyway if you put on last day.
What is your lowest balance in Jan? Why not 1 Feb? If you can't understand, then do 31 Jan lor. Only 1 day difference.
Yes, that would be the ideal, perfect answer... *except*, a number of us (myself included) recommend transferring on the last day of the month instead.

Sometimes, funds that were transferred in on the 1st, will be post-dated to the 2nd by Citi. This usually happens if the 1st is a Sunday, or a public holiday; but on at least one occasion, this date-change happened to funds I transferred in in the late afternoon on a non-holiday weekday (the transfer will initially show dated on the 1st; but will change to the 2nd a couple of days later).

Since then, I've made it a point to only transfer in on the last day of the month (31, 30, or 28/29, depending on the month). Sometimes, I still see these transfers get post-dated to the 1st.
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Old 23-01-2019, 01:15 PM   #4616
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Bonus interest is by counter. 1 counter = 0.1%, and you can accumulate up to 12 counters, hence 1.2%.

If you're referring to base interest, it's 0.7 x 1 month SIBOR.
I'm referring to bonus interest. Your return for 15k after 1 year is 97.83.
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Old 23-01-2019, 08:12 PM   #4617
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Can I know how much you topup?
My account was 15K and i Top up to meet the 70K requirement.
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Old 23-01-2019, 08:14 PM   #4618
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Can share the personal banker contact? My RM said only deposit in Jan is eligible
The banker is not my RM. I logged a Ticket via Citi Phone.
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Old 24-01-2019, 06:15 PM   #4619
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What is the difference between personal banker and relationship manager?
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Old 24-01-2019, 06:41 PM   #4620
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What is the difference between personal banker and relationship manager?
PB = priority accounts
RM = citigold accounts, sikit atas

can use interchangeably, customers dont care
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