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Citibank Maxigain Savings Account

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Old 06-03-2019, 11:08 AM   #4936
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Join Date: Feb 2013
Posts: 4,989
Feb has less days compared to other months, therefore earning less interest in absolute dollars.

still blur about how citibank calculates the maxigain interest.

I maintain consistent deposit in maxigain account.

I did some reverse engineering.
For > 70k,

Mar - SIBOR is 1.6902%
Feb - SIBOR is 1.6112%
Jan - SIBOR is 1.6865%
Dec - SIBOR is 1.6272%

Figures do not look quite right to me.
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Old 06-03-2019, 11:08 AM   #4937
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Posts: 3,696
Feb has less days compared to other months, therefore earning less interest in absolute dollars.
im at counter 7, do you think it is time to pump up the amount?
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Old 06-03-2019, 11:12 AM   #4938
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Join Date: Jan 2013
Posts: 4,883
still blur about how citibank calculates the maxigain interest.

I maintain consistent deposit in maxigain account.

I did some reverse engineering.
For > 70k,

Mar - SIBOR is 1.6902%
Feb - SIBOR is 1.6112%
Jan - SIBOR is 1.6865%
Dec - SIBOR is 1.6272%

Figures do not look quite right to me.
how u get Mar 2019 ?

i think u r one month ahead ?
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Old 06-03-2019, 11:14 AM   #4939
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Join Date: Mar 2017
Posts: 117
still blur about how citibank calculates the maxigain interest.

I maintain consistent deposit in maxigain account.

I did some reverse engineering.
For > 70k,

Mar - SIBOR is 1.6902%
Feb - SIBOR is 1.6112%
Jan - SIBOR is 1.6865%
Dec - SIBOR is 1.6272%

Figures do not look quite right to me.
Base Int
Mar - 70% of SIBOR
Feb - 70% of SIBOR
Jan - 70% of SIBOR
Dec - 80% of SIBOR

Bonus Int
Mar - credit bonus interest based on Feb balance
Feb - credit bonus int based on Jan bal
Jan - credit bonus int based on Dec bal
Dec - credit bonus int based on Nov bal
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Old 06-03-2019, 11:15 AM   #4940
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Join Date: Oct 2009
Posts: 52
how u get Mar 2019 ?

i think u r one month ahead ?
Ok. I get it changed to Feb since it can cause confusion that i can predict the future. lol
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Old 06-03-2019, 11:19 AM   #4941
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Join Date: Oct 2009
Posts: 52
Base Int
Feb - 70% of SIBOR
Jan - 70% of SIBOR
Dec - 70% of SIBOR
Nov - 80% of SIBOR

Bonus Int
Mar - credit bonus interest based on Feb balance
Feb - credit bonus int based on Jan bal
Jan - credit bonus int based on Dec bal
Dec - credit bonus int based on Nov bal
Based on your information.
Feb - 1.6902%
Jan - 1.8414%
Dec - 1.9274%
Nov - 1.6272%

still dun look quite right. probably the days makes sense.
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Old 06-03-2019, 11:23 AM   #4942
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Join Date: Jan 2013
Posts: 4,883
Based on your information.
Feb - 1.6902%
Jan - 1.8414%
Dec - 1.9274%
Nov - 1.6272%

still dun look quite right. probably the days makes sense.
from my calc :

Feb - 1.8003%
Jan - 1.77445%
Dec - 1.67488%
Noc - 1.6206%

Last edited by oceanicmanta; 06-03-2019 at 11:36 AM..
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Old 06-03-2019, 11:27 AM   #4943
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Join Date: Mar 2017
Posts: 117
Based on your information.
Feb - 1.6902%
Jan - 1.8414%
Dec - 1.9274%
Nov - 1.6272%

still dun look quite right. probably the days makes sense.
Based on my excel calculation, assuming no int compounding, Feb 2018 average SIBOR is 1.8%, Maxigain at 70% is 1.26%. my calculated int for my bal slightly above $70k is $67.71. Citibank credit $67.72.
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Old 06-03-2019, 12:40 PM   #4944
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Join Date: Nov 2010
Posts: 450
still blur about how citibank calculates the maxigain interest.

I maintain consistent deposit in maxigain account.

I did some reverse engineering.
For > 70k,

Feb - SIBOR is 1.6902%
Jan - SIBOR is 1.6112%
Dec - SIBOR is 1.6865%
Nov - SIBOR is 1.6272%

Figures do not look quite right to me.

I thought the website already shows the SIBOR ?

Dec 2018 - 1.64%
Jan 2019 - 1.76%
Feb 2019 - 1.77%
Mar 2019 - 1.83%
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Old 06-03-2019, 01:39 PM   #4945
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Join Date: Feb 2018
Posts: 1,453
I thought the website already shows the SIBOR ?

Dec 2018 - 1.64%
Jan 2019 - 1.76%
Feb 2019 - 1.77%
Mar 2019 - 1.83%
Where to see av monthly sibor ?
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Old 06-03-2019, 02:02 PM   #4946
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Join Date: Nov 2010
Posts: 450
Where to see av monthly sibor ?
https://www.citibank.com.sg/gcb/land...SGONSGMXAENBM#

The 2nd tab.
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Old 06-03-2019, 05:28 PM   #4947
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Join Date: Jan 2013
Posts: 4,883
those are the 1m sibor on specific dates of each month eg) 1 Nov 18 ... not the average sibor of the entire month of Nov
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Old 08-03-2019, 07:41 AM   #4948
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Join Date: May 2018
Posts: 2,529
For acc opening is it on the spot?
And can transfer money in later instead of deposit on the spot?
Thanks.
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Old 08-03-2019, 09:30 AM   #4949
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Join Date: Nov 2009
Posts: 453
For acc opening is it on the spot?
And can transfer money in later instead of deposit on the spot?
Thanks.
Not required to deposit on the spot.
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Old 08-03-2019, 10:12 AM   #4950
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Join Date: Jul 2005
Posts: 1,054
Account opening is on the spot. Can choose to Fast the sum in later. Don’t have to deposits on the spot.

Please go to the main bank branches and avoid the MRT branches like the plague when opening this account

For acc opening is it on the spot?
And can transfer money in later instead of deposit on the spot?
Thanks.
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