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Citibank Maxigain Savings Account

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Old 01-02-2019, 07:11 AM   #4651
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interest this month late?
check now, jib liao
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Old 01-02-2019, 07:12 AM   #4652
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interest this month late?
In already. Shiok!
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Old 01-02-2019, 07:31 AM   #4653
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I withdrew my interest on 1 jan and it seem my counter has dropped! Wonder if my RM can do anything about it
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Old 01-02-2019, 08:28 AM   #4654
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May I ask how is it possible to get up till 2.2% p.a?
I use the interest rate calculator but can’t seem to get the figure. Is it due to the fact that 1 mth SIBOR rate might increase every month while the interest rate calculator considers a fixed SIBOR rate?
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Old 01-02-2019, 09:09 AM   #4655
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May I ask how is it possible to get up till 2.2% p.a?
I use the interest rate calculator but can’t seem to get the figure. Is it due to the fact that 1 mth SIBOR rate might increase every month while the interest rate calculator considers a fixed SIBOR rate?
70% of 1m Sibor + Max 12 counters

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Old 01-02-2019, 10:44 AM   #4656
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I didn't get the bouns as my balance is just $15K.

My I know what is SIBRO used for Jan bonus rate?
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Old 01-02-2019, 11:38 AM   #4657
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I withdrew my interest on 1 jan and it seem my counter has dropped! Wonder if my RM can do anything about it

Maybe you mistook the 2 types of interest ?

Base interest is lowered due to the adjustment from 80% to 70% of SIBOR.
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Old 01-02-2019, 11:54 AM   #4658
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I didn't get the bouns as my balance is just $15K.

My I know what is SIBRO used for Jan bonus rate?
Sibor is used for BASE RATE calculation.

Bonus is based on your month's counter x 0.1%.

E.g. If your counter is 5 so your bonus rate will be 0.5%
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Old 01-02-2019, 12:31 PM   #4659
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I withdrew my interest on 1 jan and it seem my counter has dropped! Wonder if my RM can do anything about it
Every month, i have been withdrawing the interest. It did not happen to me. Did you withdrew more than the interest and bonus interest?
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Old 01-02-2019, 12:39 PM   #4660
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Maybe you mistook the 2 types of interest ?

Base interest is lowered due to the adjustment from 80% to 70% of SIBOR.
Or rather no base interest if balance is less than $70k
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Old 01-02-2019, 12:47 PM   #4661
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Is my math wrong?

I have 70k in Maxigain since Dec 31 but I only got about $90 interest which is 1.5%? despite putting my maxigain for a year already.
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Old 01-02-2019, 01:12 PM   #4662
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is it just me or my interest earn is $0.77? anyone notice?
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Old 01-02-2019, 01:18 PM   #4663
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Is my math wrong?

I have 70k in Maxigain since Dec 31 but I only got about $90 interest which is 1.5%? despite putting my maxigain for a year already.
Your $70k is principal for month of Jan, interest is delayed by 1 month as per tnc.
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Old 01-02-2019, 01:19 PM   #4664
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Your $70k is principal for month of Jan, interest is delayed by 1 month as per tnc.
Oh, the bonus interest skipped 1 month? Thanks for the information.

Found this in tnc
https://www.citibank.com.sg/gcb/land...axiGainTnC.pdf
8. The Bonus Interest Rate 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.
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Last edited by Perisher; 01-02-2019 at 01:22 PM..
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Old 01-02-2019, 01:22 PM   #4665
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Oh, the bonus interest skipped 1 month? Thanks for the information.
Bonus interest is calculated based on counter, current month duration and last month's lowest. If your last month's lowest is 15k, your bonus interest for January 2019 should be 15k x 1.2% x 31 / 365, approximately $15.29.
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