HWZ Forums

Login Register FAQ Mark Forums Read

Citibank Maxigain Savings Account

Like Tree651Likes
Reply
 
LinkBack Thread Tools
Old 07-04-2019, 01:17 AM   #5146
High Supremacy Member
 
testerjp's Avatar
 
Join Date: Jan 2006
Posts: 26,506
Is this still the best deal? Need to do any transaction or can just dump the money in?

Any comparable ones out there for me to diversify?
testerjp is offline   Reply With Quote
Old 07-04-2019, 08:53 AM   #5147
Arch-Supremacy Member
 
havetheveryfun's Avatar
 
Join Date: Jul 2010
Posts: 19,470
Is this still the best deal? Need to do any transaction or can just dump the money in?

Any comparable ones out there for me to diversify?
just dump but u cant withdraw and u need 1 year to build up the counters (where there is a risk once you built up the counters they change the way the account works again)
havetheveryfun is offline   Reply With Quote
Old 07-04-2019, 09:34 AM   #5148
Junior Member
 
Join Date: Oct 2009
Posts: 82
just dump but u cant withdraw and u need 1 year to build up the counters (where there is a risk once you built up the counters they change the way the account works again)
Account holder for 23 mths, 3 changes made. 1) total banking relationship from 10k to 15k 2) need 70k in maxigain to gain base interest (70% of sibor) 3) the terms of base interest has reduced from 80% of sibor to 70% of sibor.

Citibank made the barrier higher and reduced the interest of customer.
K_E_N_L_A_W is offline   Reply With Quote
Old 07-04-2019, 11:23 AM   #5149
Arch-Supremacy Member
 
havetheveryfun's Avatar
 
Join Date: Jul 2010
Posts: 19,470
Account holder for 23 mths, 3 changes made. 1) total banking relationship from 10k to 15k 2) need 70k in maxigain to gain base interest (70% of sibor) 3) the terms of base interest has reduced from 80% of sibor to 70% of sibor.

Citibank made the barrier higher and reduced the interest of customer.
well 2 of the changes were only made just few months ago..
havetheveryfun is offline   Reply With Quote
Old 07-04-2019, 12:28 PM   #5150
High Supremacy Member
 
compro_1975's Avatar
 
Join Date: Jul 2004
Posts: 27,537
put 15k the counter will start to clock a not ar?
__________________
[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 07-04-2019, 12:30 PM   #5151
Supremacy Member
 
Join Date: Jan 2013
Posts: 6,544
put 15k the counter will start to clock a not ar?
counter will clock with $1 ... $15k is to avoid fall below fee
oceanicmanta is online now   Reply With Quote
Old 07-04-2019, 03:16 PM   #5152
Senior Member
 
silverbomb's Avatar
 
Join Date: Jul 2008
Posts: 1,703
what happens if the account is low bal (e.g $0.01/$0.10/$1), does it goes into negative balance each month after deducting fall below fee? Or it will be zerorised?
silverbomb is offline   Reply With Quote
Old 07-04-2019, 03:45 PM   #5153
Master Member
 
foxer77's Avatar
 
Join Date: Dec 2004
Posts: 3,492
this month intrest rate only 2%?
foxer77 is offline   Reply With Quote
Old 07-04-2019, 04:42 PM   #5154
Senior Member
 
Join Date: Jul 2003
Posts: 942
I may have a spare citibank maxigain account (joint) so thinking of using it as an account to park temporary funds or as an expenditure account. The interest rate of 70% of SIBOR is much higher than my POSB ATM card account. Anyone here also using Maxigain for this purpose?
touchring1 is offline   Reply With Quote
Old 07-04-2019, 04:49 PM   #5155
Master Member
 
Join Date: Jan 2002
Posts: 4,909
I may have a spare citibank maxigain account (joint) so thinking of using it as an account to park temporary funds or as an expenditure account. The interest rate of 70% of SIBOR is much higher than my POSB ATM card account. Anyone here also using Maxigain for this purpose?
Might be better to park your fund in eSaver for the 2 Months Promotion to earn higher interest.

When you need fund just use SC Mobile Banking or Internet Banking to FAST the amount you needed to POSB.
NTTDoCoMo is offline   Reply With Quote
Old 07-04-2019, 06:06 PM   #5156
Master Member
 
Join Date: Feb 2018
Posts: 3,782
I may have a spare citibank maxigain account (joint) so thinking of using it as an account to park temporary funds or as an expenditure account. The interest rate of 70% of SIBOR is much higher than my POSB ATM card account. Anyone here also using Maxigain for this purpose?
MaxiGain is not suitable for funds that you know you need to withdraw. Once you withdraw more than interest earned, the counter will drop and interest for next few mths will be lower.

Unless you have spare money above 70k which you know don't need to touch.
vsvs24 is offline   Reply With Quote
Old 07-04-2019, 08:32 PM   #5157
Senior Member
 
Join Date: Jul 2003
Posts: 942
MaxiGain is not suitable for funds that you know you need to withdraw. Once you withdraw more than interest earned, the counter will drop and interest for next few mths will be lower.

Unless you have spare money above 70k which you know don't need to touch.
You're right, need to maintain the $70k to earn the 1% but makes no sense because I might as well put it into FD. Looks like maxigain actually no different from FD.

Might be better to park your fund in eSaver for the 2 Months Promotion to earn higher interest.

When you need fund just use SC Mobile Banking or Internet Banking to FAST the amount you needed to POSB.
Thanks. I used to have a stock account with SC, don't have good impression as the rs manager keeps on trying to sell investments. SC also don't give me an impression that it is a solid bank. How about CIMB, have you considered that?

Last edited by touchring1; 07-04-2019 at 08:34 PM..
touchring1 is offline   Reply With Quote
Old 07-04-2019, 08:41 PM   #5158
Master Member
 
Join Date: Jan 2002
Posts: 4,909
You're right, need to maintain the $70k to earn the 1% but makes no sense because I might as well put it into FD. Looks like maxigain actually no different from FD.



Thanks. I used to have a stock account with SC, don't have good impression as the rs manager keeps on trying to sell investments. SC also don't give me an impression that it is a solid bank. How about CIMB, have you considered that?
eSaver has higher interest as compared to CIMB.

If you are worried, then just limit your funds below SDIC Limit - 75K?

Just tell the RM, you currently has no plans for investments and will contact her when you are interested.

The only troublesome thing is that you need to shuffle funds after 2 months.

I have a CIMB FASTSaver that I use for CIMB Credit Card Payment only.

Last edited by NTTDoCoMo; 07-04-2019 at 08:53 PM..
NTTDoCoMo is offline   Reply With Quote
Old 07-04-2019, 09:17 PM   #5159
Arch-Supremacy Member
 
Lex1989's Avatar
 
Join Date: Nov 2008
Posts: 11,901
Might be better to park your fund in eSaver for the 2 Months Promotion to earn higher interest.

When you need fund just use SC Mobile Banking or Internet Banking to FAST the amount you needed to POSB.
Today is the 7 Apr. So if i open and put money tomorrow. When will I receive the interest? The promotion is 2 months. Which means. There will only be a month you get the 2%?

If that's the case I get interest from other bank first. Then 1 of May I transfer. End of May I get interest. I move away again?
Lex1989 is offline   Reply With Quote
Old 07-04-2019, 09:29 PM   #5160
Master Member
 
Join Date: Feb 2018
Posts: 3,782
Today is the 7 Apr. So if i open and put money tomorrow. When will I receive the interest? The promotion is 2 months. Which means. There will only be a month you get the 2%?

If that's the case I get interest from other bank first. Then 1 of May I transfer. End of May I get interest. I move away again?
Suggest you indicate the amount. Easier for people to give advice.
vsvs24 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