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Citibank Maxigain Savings Account

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Old 16-02-2019, 12:05 PM   #4816
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Sent

10 pm
A little late but can send me please. Thanks!
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Old 16-02-2019, 12:13 PM   #4817
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Does this maxigain saving have an joint account option?
Yes.

You can have both a personal maxigain and a Joint maxigain accounts.
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Old 16-02-2019, 02:47 PM   #4818
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Yes.

You can have both a personal maxigain and a Joint maxigain accounts.
Thank you!
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Old 16-02-2019, 06:25 PM   #4819
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hey guys, i am looking at this account as i am close to the 50k cap in dbs multiplier. i don't have 70k to store in yet as i have big purchases coming up (wedding, etc).

i've been reading around and i think i roughly get the idea of how this account works. i was thinking, in the meantime before i can store 70k inside, can i just park $15k in first to rack up the counter? so when i have that 70k amount that i can add on (which i think will definitely be later than hitting counter 12 haha), the bonus interest portion will already be at max counter, thus immediately fulfilling base + full bonus interest.

hope it's clear. thank you all in advanced!
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Old 16-02-2019, 07:43 PM   #4820
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i've been reading around and i think i roughly get the idea of how this account works. i was thinking, in the meantime before i can store 70k inside, can i just park $15k in first to rack up the counter? so when i have that 70k amount that i can add on (which i think will definitely be later than hitting counter 12 haha), the bonus interest portion will already be at max counter, thus immediately fulfilling base + full bonus interest.
yes.. of cos u can..
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Old 17-02-2019, 12:06 AM   #4821
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hey guys, i am looking at this account as i am close to the 50k cap in dbs multiplier. i don't have 70k to store in yet as i have big purchases coming up (wedding, etc).

i've been reading around and i think i roughly get the idea of how this account works. i was thinking, in the meantime before i can store 70k inside, can i just park $15k in first to rack up the counter? so when i have that 70k amount that i can add on (which i think will definitely be later than hitting counter 12 haha), the bonus interest portion will already be at max counter, thus immediately fulfilling base + full bonus interest.

hope it's clear. thank you all in advanced!
Yup, I'm considering doing this too...
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Old 17-02-2019, 08:05 AM   #4822
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hey guys, i am looking at this account as i am close to the 50k cap in dbs multiplier. i don't have 70k to store in yet as i have big purchases coming up (wedding, etc).

i've been reading around and i think i roughly get the idea of how this account works. i was thinking, in the meantime before i can store 70k inside, can i just park $15k in first to rack up the counter? so when i have that 70k amount that i can add on (which i think will definitely be later than hitting counter 12 haha), the bonus interest portion will already be at max counter, thus immediately fulfilling base + full bonus interest.

hope it's clear. thank you all in advanced!
Yes, can. I guess the only risk is whether tnc will remain the same within the 12 months counter accumulation. I guess worth the risk considering this is still the best "FD"
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Old 17-02-2019, 10:53 AM   #4823
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can anyone with only 15k inside now confirm that the monthly counter steps up every month? I don't see this anywhere on their website
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Old 17-02-2019, 10:59 AM   #4824
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can anyone with only 15k inside now confirm that the monthly counter steps up every month? I don't see this anywhere on their website
Below is how the Bonus Interest Extracted from the FAQ.

The Counter increases by 1 each time the Bonus Interest Rate steps up. The Bonus Interest Rate steps up in a month if the lowest balance in that month is equal to or greater than the lowest balance in the preceding month.


How is bonus interest calculated?

Your balances capped at S$150,000 shall accrue bonus interest at a rate ("Bonus Interest Rate") that steps up each month, from 0.10% p.a. to a maximum of 1.20% p.a., if the lowest balance in your MaxiGain account in a month is equal to or greater than the lowest balance in the previous month.

The Counter increases by 1 each time the Bonus Interest Rate steps up. The Bonus Interest Rate steps up in a month if the lowest balance in that month is equal to or greater than the lowest balance in the preceding month. Bonus interest is computed based on the preceding month's lowest balance and number of calendar days in the preceding month. The lowest amount of funds in your MaxiGain account at any point in time in a month shall be the "lowest balance" of that month.
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Old 17-02-2019, 11:24 AM   #4825
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Below is how the Bonus Interest Extracted from the FAQ.

The Counter increases by 1 each time the Bonus Interest Rate steps up. The Bonus Interest Rate steps up in a month if the lowest balance in that month is equal to or greater than the lowest balance in the preceding month.


How is bonus interest calculated?

Your balances capped at S$150,000 shall accrue bonus interest at a rate ("Bonus Interest Rate") that steps up each month, from 0.10% p.a. to a maximum of 1.20% p.a., if the lowest balance in your MaxiGain account in a month is equal to or greater than the lowest balance in the previous month.

The Counter increases by 1 each time the Bonus Interest Rate steps up. The Bonus Interest Rate steps up in a month if the lowest balance in that month is equal to or greater than the lowest balance in the preceding month. Bonus interest is computed based on the preceding month's lowest balance and number of calendar days in the preceding month. The lowest amount of funds in your MaxiGain account at any point in time in a month shall be the "lowest balance" of that month.
Jan 19 i put $1 and Feb 19 i top up to $2 the step up also will accumulate? however, because citibank maxigain account is min $15k that is why it can be inferred that it will step up? sorry noob here.

if i withdraw the interest only portion annually, will it result in a drop in counter?
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Old 17-02-2019, 11:34 AM   #4826
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Jan 19 i put $1 and Feb 19 i top up to $2 the step up also will accumulate? however, because citibank maxigain account is min $15k that is why it can be inferred that it will step up? sorry noob here.

if i withdraw the interest only portion annually, will it result in a drop in counter?
Jan 19 i put $1 and Feb 19 i top up to $2 the step up also will accumulate? however, because citibank maxigain account is min $15k that is why it can be inferred that it will step up? sorry noob here.
>> Minimum amount to avoid fall below fee is $15K.


if i withdraw the interest only portion annually, will it result in a drop in counter?
>> Lump sum withdraw will result counter to drop. Lowest balance in your MaxiGain account in a month is Lower than the lowest balance in the previous month.
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Old 17-02-2019, 02:51 PM   #4827
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with 15K, the interest so little... still want to take out meh?
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Old 18-02-2019, 08:49 AM   #4828
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The top up promotion has to be done in the branch right?

The cash from the promo will be credited into the account?
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Old 18-02-2019, 02:46 PM   #4829
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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.
Need help.

I went down to Holland Village branch last Friday.

Banker say just topup will do. I said I was told must sign a form. Later she came back with form for me to sign.

Today banker sms me : "The promotion stated on the form is 1 January 2019 to 28 February 2019. But you deposited in 31 December 2018".

When I ask her to check with deposit team, her reply is "I have checked with the deposit team. They said no."

So she is not going to enroll it for me.

BTW, this same banker say counter will drop if I withdraw interest. Very confidently say I will explain to you how Maxigain works. I say no need. I know how it works. Did not want to bother to say more to her.

Anyone managed to get enrolled based on topup on 31 Dec ? Can PM me your banker details please ?

I have a joint account (my sister is first name and I am second). Joint alternate account. I plan to topup next week. She say my sister has to sign the form. I cannot sign. Is this right ?

Hell. Cannot trust Citi bankers. Need to verify with you all.

Thank You.
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Last edited by vsvs24; 18-02-2019 at 03:04 PM..
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Old 18-02-2019, 04:18 PM   #4830
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Need help.

I went down to Holland Village branch last Friday.

Banker say just topup will do. I said I was told must sign a form. Later she came back with form for me to sign.

Today banker sms me : "The promotion stated on the form is 1 January 2019 to 28 February 2019. But you deposited in 31 December 2018".

When I ask her to check with deposit team, her reply is "I have checked with the deposit team. They said no."

So she is not going to enroll it for me.

BTW, this same banker say counter will drop if I withdraw interest. Very confidently say I will explain to you how Maxigain works. I say no need. I know how it works. Did not want to bother to say more to her.

Anyone managed to get enrolled based on topup on 31 Dec ? Can PM me your banker details please ?

I have a joint account (my sister is first name and I am second). Joint alternate account. I plan to topup next week. She say my sister has to sign the form. I cannot sign. Is this right ?

Hell. Cannot trust Citi bankers. Need to verify with you all.

Thank You.
By right, since you topped up on 31th Dec, of course not eligible for the promo which started on 1st Jan.

By left, other people managed to do it via their own banker, which is probably more flexible.

What my banker told me was, we can enroll you with the signed form no problem, but the system is automated, it will track the date which the funds are transferred in.
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