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Citibank Maxigain Savings Account

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Old 07-04-2019, 09:34 PM   #5161
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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?
post in eSaver thread better also, more eSaver sexperts there who may not come into this thread
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Old 07-04-2019, 09:42 PM   #5162
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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?
SC always give interest on the last day of the month (latest is 1st day of next month).

You will enjoy 2% for both Apr and May, the 2% is Per Annum and Interest is based on ADB.

You can refer to the below pdf, there is sample computation at point 10. You can change the amount and number of days to the number of days left in April (Depending on when you opening the account and the deposit value date).

https://av.sc.com/sg/content/docs/sg-esaver-tnc.pdf

Last edited by NTTDoCoMo; 07-04-2019 at 10:07 PM..
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Old 08-04-2019, 12:18 PM   #5163
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will the maxigain account be affected by the new citibank SWIFT/BIC code?
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Old 08-04-2019, 05:36 PM   #5164
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SC always give interest on the last day of the month (latest is 1st day of next month).

You will enjoy 2% for both Apr and May, the 2% is Per Annum and Interest is based on ADB.

You can refer to the below pdf, there is sample computation at point 10. You can change the amount and number of days to the number of days left in April (Depending on when you opening the account and the deposit value date).

https://av.sc.com/sg/content/docs/sg-esaver-tnc.pdf
Thanks bro! My maths no good. Got online calculator?
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Old 08-04-2019, 05:40 PM   #5165
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Thanks bro! My maths no good. Got online calculator?
https://www.sc.com/sg/save/savings-a...QaAvfVEALw_wcB

No online calculator. Note that 2% for 200k and above.
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Old 08-04-2019, 06:03 PM   #5166
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i am abit confused with how esaver works... anyone can help? seems to be good at 2.25% but how? i see increment etc and ppl say they movemoney here and there....
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Old 08-04-2019, 06:07 PM   #5167
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Thanks bro! My maths no good. Got online calculator?
Don't have online calculator. See the link provided by vsvs24.

Do take note you need 200k ADB to enjoy 2% and the assumption is that this is a new account.

Last edited by NTTDoCoMo; 08-04-2019 at 06:13 PM..
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Old 08-04-2019, 06:10 PM   #5168
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i am abit confused with how esaver works... anyone can help? seems to be good at 2.25% but how? i see increment etc and ppl say they movemoney here and there....
Maybe post the same question at eSaver thread.

eSaver don't have 2.25%, Max is only 2% for 200k ADB based on incremental balance.

Last edited by NTTDoCoMo; 08-04-2019 at 06:14 PM..
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Old 08-04-2019, 06:44 PM   #5169
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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?
U open a new esaver account today and deposit 50k. That 50k will earn 1.85% pa interest immediately, daily. At end of mth, u will get 50K*1.85%/365*23days, with 1.8% credited by 7th working day. In May, your 50k plus interest will continue to earn 1.90%, 50k*1.85%/365*31 days.

If u maintain more than 50k <200K, interest will be 1.90%, above 200k balance interest will be 2%

There will be a new promo in June to cover June/July 2019. U will have to empty this account, open a second account somehow so your entire balance will earn the new interest rate to be announced.

If u open maxi gain today, is zero interest for april, if u dun fund it on day of opening, it will earn zero interest in May?

Last edited by maple96; 08-04-2019 at 07:04 PM..
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Old 08-04-2019, 10:04 PM   #5170
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U open a new esaver account today and deposit 50k. That 50k will earn 1.85% pa interest immediately, daily. At end of mth, u will get 50K*1.85%/365*23days, with 1.8% credited by 7th working day. In May, your 50k plus interest will continue to earn 1.90%, 50k*1.85%/365*31 days.

If u maintain more than 50k <200K, interest will be 1.90%, above 200k balance interest will be 2%

There will be a new promo in June to cover June/July 2019. U will have to empty this account, open a second account somehow so your entire balance will earn the new interest rate to be announced.

If u open maxi gain today, is zero interest for april, if u dun fund it on day of opening, it will earn zero interest in May?
Thank you boss. I get it!
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Old 09-04-2019, 10:27 AM   #5171
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Possible if i put 15K into Citibank gain, and leave it for a year?

Got anything need to take note?

Dont know i refer to old post, got 6 months inactive, will kena dormant etc.

Please advise.

Also If let say if one day, i would like to touch the money, will interest be clawed back?

How does it work? If i withdraw on the 15th day of the month. How would that affect my interest?
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Old 09-04-2019, 05:03 PM   #5172
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just received this, trying to understand how is FAST In & Out affected?
i mean FAST is just clicking on a Bank & inputting the account number right? how does this affect ?

Change in Citibank Singapore Limited
SGD Payment Instructions

Dear Customer,

Please be informed that with effect from April 15 2019, Citibank Singapore Limited will operate under a new SWIFT Bank Identifier Code (“BIC”) and Bank Code for SGD payment instructions. The new BIC and Bank Code are set out in the table below.

To ensure that your transactions are processed successfully, you will need to select the respective Citibank’s BIC when you initiate new fund transfers from your Citibank Singapore Limited accounts and/or inter-bank payment instructions to Citibank Singapore Limited accounts. The changes are relevant to transactions involving a transfer of funds to Global Consumer Banking (Wealth management products and services, unsecured and secured products), CitiBusiness Banking accounts and Citi International Personal Bank accounts, and is applicable to all Fast and Secure Transfer (FAST), inter-bank GIRO, MAS Electronic Payment System (MEPS) and incoming SGD Telegraphic Transfers.

Currency SGD Others

(No change. For reference only)
Before 15 April 2019
(Old BIC) On and After 15 April 2019
(New BIC)
SWIFT Bank Identifier Code (BIC) CITISGSGXXX CITISGSLXXX CITISGSGGCB
Bank Code 7214 9201 -
FAST bank description CITIBANK, N.A. CITIBANK SINGAPORE LIMITED -


No action is required for your existing payment setup.

Please click here for more information.

Thank you for banking with Citi.
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Old 10-04-2019, 04:21 AM   #5173
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Possible if i put 15K into Citibank gain, and leave it for a year?

Got anything need to take note?

Dont know i refer to old post, got 6 months inactive, will kena dormant etc.

Please advise.

Also If let say if one day, i would like to touch the money, will interest be clawed back?

How does it work? If i withdraw on the 15th day of the month. How would that affect my interest?
To be safe that account active, set up auto monthly transfer of nominal amount ($1) from other Citi account or other bank account.

If you make withdrawal and eventual balance less than 15k, I think there is a charge, unless you collectively have other accounts with Citi such that grand total is at least 15k.

Depending when you withdraw, your counter will be affected.
If I remember correctly, if withdraw when counter 1-5, counter will drop to 0.
If withdraw when counter 6 - 12, counter drop to 6
Counter affected, so "bonus interest" affected

For counter not to be affected, need to maintain at least same lowest balance as previous month. So, you can withdraw just the interest you earn for each month.

Note:
"Bonus interest" refers to the interest for Maxigain account, applicable to amounts up to 150k.

Since it is 15k, so "Base interest" is not applicable (base interest is for min 70k, and interest rate is 70% of SIBOR)
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Old 10-04-2019, 09:05 AM   #5174
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If I don touch the money, as the interests roll month by month. Do I need to make any incremental transfer?
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Old 10-04-2019, 09:31 AM   #5175
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If I don touch the money, as the interests roll month by month. Do I need to make any incremental transfer?
nope. 10 char
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