HWZ Forums

Login Register FAQ Mark Forums Read

Citibank Maxigain Savings Account

Like Tree517Likes
Reply
 
LinkBack Thread Tools
Old 01-03-2019, 07:12 AM   #4861
Arch-Supremacy Member
 
Join Date: Apr 2015
Posts: 16,175
anyone tried this before? to pump and dump?

start
1 Jan - 80,000.00
5 Jan - 140,000.00
31 Jan - 80,000.01

1 Feb - 80,000.02
4 Feb - 140,000.00
28 Feb - 80,000.02


This way works just need to remember the dates correctly right?
No bonus interest for the $60k. Quite pointless to do so
Trazora is offline   Reply With Quote
Old 01-03-2019, 07:31 AM   #4862
Supremacy Member
 
Join Date: May 2017
Posts: 5,413
No bonus interest for the $60k. Quite pointless to do so
Base interest around 1.2+%.

Better than CIMB.
JuniorLion is online now   Reply With Quote
Old 01-03-2019, 07:57 AM   #4863
Arch-Supremacy Member
 
Join Date: Apr 2015
Posts: 16,175
Base interest around 1.2+%.

Better than CIMB.
Lol. Dun think he pump and dump just for 1.2% on the days that 60k is in the account. Can easily earn more than 1.2% on say dbs multiplier/maybank saveup/boc smartsaver.
Trazora is offline   Reply With Quote
Old 01-03-2019, 08:43 AM   #4864
Arch-Supremacy Member
 
compro_1975's Avatar
 
Join Date: Jul 2004
Posts: 23,781
last month sibor din grow much only 1.800360% nia

overall 2.38% pa
__________________
[SIZE=1]Go http://imageshack.us/ N Ppost Yr Pic NPNT OK[/SIZE]

I AM FROM THE 30.1%, EMPOWERED TO COMPLAIN
compro_1975 is offline   Reply With Quote
Old 01-03-2019, 08:56 AM   #4865
Junior Member
 
Join Date: Oct 2009
Posts: 50
last month sibor din grow much only 1.800360% nia

overall 2.38% pa
Still cannot work out the interest. If you can, please share how you derive to this?
K_E_N_L_A_W is offline   Reply With Quote
Old 01-03-2019, 08:58 AM   #4866
Master Member
 
Join Date: Feb 2009
Posts: 3,037
No need so complicated.

Start
1 Jan (weekday) - 80,000
5 Jan (weekday) - 140,000

28 Feb (weekday) - 80,000 (make sure you transfer out the money before 7pm, and make sure the day is not on a weekend, or public holiday, or eve of public holiday*),

So in Jan, your lowest balance of the month is 80,000.
in Feb, your lowest balance of the month is 80,000 too.

*Eve of certain major holidays bank works half day. So your transfer might not be effected if you did it very late at night/evening.

--------------------------
What you will get
Jan, (1-4 Jan) 80k : int @70% of SIBOR
(5-31 Jan) 140k : int @70% of SIBOR
(bonus int) @ 80k to be paid in March (bonus interest always delay by 1 month).

Feb, (1-27 Feb) 140k : int @70% of SIBOR
(28 Feb) 80k : int @70% of SIBOR
(bonus int) @ 80k to be paid in April (bonus interest always delay by 1 month).
what is the purpose of doing this in out in out thingy?
Squaredot is offline   Reply With Quote
Old 01-03-2019, 08:59 AM   #4867
Master Member
 
Join Date: Feb 2009
Posts: 3,037
last month sibor din grow much only 1.800360% nia

overall 2.38% pa
your counter not at 12?
1.800360*0.70+1.2>2.38
Squaredot is offline   Reply With Quote
Old 01-03-2019, 09:08 AM   #4868
Member
 
Join Date: Nov 2009
Posts: 453
Hi guys. Hope someone can help.
I have 70k in this bank account since 28jan.
I was wondering, I just saw the feb interest, for the interest component
bonus interest earned: about $22, and
interest earned- about $68.

Is there something wrong with the bonus interest earned component?
(Btw, on my 11th step)

Last edited by wharzhee; 01-03-2019 at 09:12 AM..
wharzhee is offline   Reply With Quote
Old 01-03-2019, 09:16 AM   #4869
Senior Member
 
Join Date: Dec 2013
Posts: 1,087
Hi guys. Hope someone can help.
I have 70k in this bank account since 28jan.
I was wondering, I just saw the feb interest, for the interest component
bonus interest earned: about $22, and
interest earned- about $68.

Is there something wrong with the bonus interest earned component?
(Btw, on my 11th step)
How much before 28 Jan?
mdax23 is offline   Reply With Quote
Old 01-03-2019, 09:20 AM   #4870
Master Member
 
Join Date: Feb 2009
Posts: 3,037
Hi guys. Hope someone can help.
I have 70k in this bank account since 28jan.
I was wondering, I just saw the feb interest, for the interest component
bonus interest earned: about $22, and
interest earned- about $68.

Is there something wrong with the bonus interest earned component?
(Btw, on my 11th step)
Base interest $68ish for 70k is right.
Bonus interest (steps) is based on your lowest balance in Jan.
Squaredot is offline   Reply With Quote
Old 01-03-2019, 09:45 AM   #4871
Member
 
Join Date: Nov 2009
Posts: 453
Base interest $68ish for 70k is right.
Bonus interest (steps) is based on your lowest balance in Jan.
Oh. Thanks for the clarification!
wharzhee is offline   Reply With Quote
Old 01-03-2019, 09:55 AM   #4872
Member
 
Join Date: Nov 2009
Posts: 453
How much before 28 Jan?
24k, I think.
Ya. So makes sense. I thought the feb interest was based on feb amount. lol
wharzhee is offline   Reply With Quote
Old 01-03-2019, 10:24 AM   #4873
Member
 
Join Date: Jun 2017
Posts: 227
What is the purpose of doing this?
what is the purpose of doing this in out in out thingy?
You guys need to check with the man himself.

I used to do such way cuz I don't want my savings to get locked (no other spare cash lying around) while still enjoys the higher interest (@ around 1.2% which is > than CIMB FastSaver).

Else, the lowest balance will be fixed @ 140k and if I need to withdraw money, the bonus counter will be reset back to 6. I also wished I am a millionaire like some bros here, then can parked 150k into the account and not touch for another few years.

Sadly I don't have the luck to strike ToTo.
Linguist is offline   Reply With Quote
Old 01-03-2019, 11:43 AM   #4874
Senior Member
 
Join Date: Jul 2005
Posts: 1,981
last month sibor din grow much only 1.800360% nia

overall 2.38% pa
You forgot Feb only 28 days.

Interest is 2.59% for me.
Jazzbie is offline   Reply With Quote
Old 01-03-2019, 12:41 PM   #4875
Member
 
Join Date: Jun 2017
Posts: 227
last month sibor din grow much only 1.800360% nia

overall 2.38% pa
You forgot Feb only 28 days.

Interest is 2.59% for me.
How you get 2.59% ?
Linguist is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On