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Citibank Maxigain Savings Account

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Old 12-02-2019, 03:51 PM   #4771
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Thanks for the input, guys. I actually went to MRT branch last week and was told that the monthly interest gained cannot be withdrawn at all else counter will be reset. He even told me not to read the wrong stuff online. Haha.
ask him for f a spider... i withdraw monthly with increment of 0.01$ and at counter 12 now... citi really horrible
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Old 12-02-2019, 04:30 PM   #4772
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Yeah donít need to ask. Everyone will give you differing answers. Lol
Yes. Somehow Citibank staff tend to give inaccurate info.
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Old 12-02-2019, 04:31 PM   #4773
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ask him for f a spider... i withdraw monthly with increment of 0.01$ and at counter 12 now... citi really horrible
Withdrawing interest will still continue to gain counter till it is maxed at 12. No point keep asking the bank staff when we have confirmed.
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Old 12-02-2019, 04:47 PM   #4774
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ask him for f a spider... i withdraw monthly with increment of 0.01$ and at counter 12 now... citi really horrible
Yes, I even tried to tell him about the terms that I read but he insisted many people mistaken and went to withdraw the interest and ended up having the counter reset.
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Old 12-02-2019, 04:53 PM   #4775
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Withdrawing interest will still continue to gain counter till it is maxed at 12. No point keep asking the bank staff when we have confirmed.
Thanks again for the confirmation. You guys already hit the max bonus interest already?
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Old 12-02-2019, 05:13 PM   #4776
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TL;DR

MaxiGain is an instrument whereby you just park S$150k inside and every month just withdraw interest portion.

The rest you don't need to know.
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Old 12-02-2019, 05:15 PM   #4777
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TL;DR

MaxiGain is an instrument whereby you just park S$150k inside and every month just withdraw interest portion.

The rest you don't need to know.
Good passive income!
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Old 12-02-2019, 05:39 PM   #4778
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Minimum $15K to avoid fall below fee.
Maxigain Saving require minimum $70K to earn base interest.
Wow that also for me shall skip it
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Old 12-02-2019, 06:44 PM   #4779
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What is the max amount one can park in the maxigain account to enjoy the 70% of Sibor?
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Old 12-02-2019, 06:51 PM   #4780
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What is the max amount one can park in the maxigain account to enjoy the 70% of Sibor?
150k .
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Old 13-02-2019, 08:34 AM   #4781
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Thanks again for the confirmation. You guys already hit the max bonus interest already?
Yes, for months. Some early birds here had been enjoying for almost two years I think
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Old 13-02-2019, 09:21 AM   #4782
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Yes, for months. Some early birds here had been enjoying for almost two years I think
Wow. I am late but late is still better than never. Haha.

Btw since bank is insured to only 50k, do you guys still put up to 150k with Citibank?
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Old 13-02-2019, 10:03 AM   #4783
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Wow. I am late but late is still better than never. Haha.

Btw since bank is insured to only 50k, do you guys still put up to 150k with Citibank?
To clarify, it's SDIC who insure up to S$50k, and it will revise upwards to S$70k from 1 April 2019 onwards.

And the risk of bank run happening here is low, that's my opinion.

Edit: Paiseh it's S$75k
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Old 13-02-2019, 12:40 PM   #4784
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To clarify, it's SDIC who insure up to S$50k, and it will revise upwards to S$70k from 1 April 2019 onwards.

And the risk of bank run happening here is low, that's my opinion.

Edit: Paiseh it's S$75k
Thank you for the information.
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Old 13-02-2019, 06:06 PM   #4785
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Deposit $150,000
No withdrawal at all during the 12 months
SIBOR set at 1.7%
Interest $2909
From Citibank MaxiGain Interest Calculator
Effective interest rate 1.93%

How can 2.2% or more be achieved?

Thanks in advance.
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