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Citibank Maxigain Savings Account

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Old 23-03-2019, 11:10 PM   #4996
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Sorry to enquire
Can I confirm once at counter 12, bonus interest will not reset subsequently and continue to be 1.2% until they decide to change terms?
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Old 23-03-2019, 11:14 PM   #4997
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Sorry to enquire
Can I confirm once at counter 12, bonus interest will not reset subsequently and continue to be 1.2% until they decide to change terms?
https://www.citibank.com.sg/gcb/depo...xgn-savacc.htm

1) If your lowest balance of this month is below the lowest balance of your previous month, bonus interest drops to 0.6%.

2) Else, remains at 1.2%
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Old 23-03-2019, 11:14 PM   #4998
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Sorry to enquire
Can I confirm once at counter 12, bonus interest will not reset subsequently and continue to be 1.2% until they decide to change terms?
Need to continue keeping the lowest balance higher than that is previous month, if not drop back to step 6.
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Old 24-03-2019, 12:19 AM   #4999
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https://www.citibank.com.sg/gcb/depo...xgn-savacc.htm

1) If your lowest balance of this month is below the lowest balance of your previous month, bonus interest drops to 0.6%.

2) Else, remains at 1.2%
Thanks
All illustration only shows up to month 12.
I'll presume it will be counter 12 until they change terms.
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Old 24-03-2019, 08:17 AM   #5000
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Possible for me to open an account with 15K first to increase the counter?

When i have enough money, to push it to S$70K to enjoy the 1 month sibor rate?
yep it is possible. but even if you have enough money to push it to 70k, the interest rate at the beginning might not be that substantial when the counter is low.

That also depends on the interest rate you are getting elsewhere so u have to compare and see which one is higher.
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Old 24-03-2019, 08:24 AM   #5001
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Thanks
All illustration only shows up to month 12.
I'll presume it will be counter 12 until they change terms.
It's clear that when they say increase by 0.1% per month, and up to 1.2% per month that it stops at counter 12 and not infinite.
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Old 24-03-2019, 09:31 AM   #5002
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It's clear that when they say increase by 0.1% per month, and up to 1.2% per month that it stops at counter 12 and not infinite.
There is no mention of counter maintaining at 12 subsequently so it is obviously not clear thus I came here to confirm.
Never did I mention the increment is infinite, I am asking whether the interest stays at 1.2% until they decide to change the RULES/TERMS & CONDITION(if that makes you understand)
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Old 24-03-2019, 09:49 AM   #5003
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There is no mention of counter maintaining at 12 subsequently so it is obviously not clear thus I came here to confirm.
Never did I mention the increment is infinite, I am asking whether the interest stays at 1.2% until they decide to change the RULES/TERMS & CONDITION(if that makes you understand)
Max out at 1.2% and stays at 1.2%. If not, I probably will be getting >2% since I had max out donkey months ago.
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Old 24-03-2019, 10:54 AM   #5004
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I guess dropping to 0.6% bonus interest is worth it in case of real need
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Old 24-03-2019, 12:31 PM   #5005
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Need to continue keeping the lowest balance higher than that is previous month, if not drop back to step 6.
no need to be higher, can be equal.

some of us who have maxed the counters at 12, will withdraw the monthly interest earn to keep the lowest balance the same as the previous month, while maintaining the counter.

especially now that there's no more bonus interest earned above 150k.
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Old 24-03-2019, 02:22 PM   #5006
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Is there joint acc for this?
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Old 24-03-2019, 02:36 PM   #5007
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Is there joint acc for this?
Yes. There is Joint account.
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Old 24-03-2019, 02:50 PM   #5008
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There is no mention of counter maintaining at 12 subsequently so it is obviously not clear thus I came here to confirm.
What are all alternatives:
1) It drops to 0%?
2) It goes down by 0.1% per month?
3) It increases infinitely?
4) It maintains at 1.2%?
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Old 24-03-2019, 08:39 PM   #5009
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yep it is possible. but even if you have enough money to push it to 70k, the interest rate at the beginning might not be that substantial when the counter is low.

That also depends on the interest rate you are getting elsewhere so u have to compare and see which one is higher.
Ok thanks bro. I will just pump 15K and let the counter hit 1.2%

And decide later.
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Old 24-03-2019, 08:51 PM   #5010
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After reading through the posts, I believe this would be a good summary for those who still don't have $70K to put in straight:

1) Pump in $15K first for min. account balance, and let the counter stack up to level 12 (0.1%/month, after 12 months = 1.2% and fixed).
2) Leave the balance @ $15K, as even equal balance will allow the counter to stack up.
3) Once have enough to store $70K, top it up to get 1.2% + SiBOR rate.

Please correct me if I am wrong?
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