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Citibank Maxigain Savings Account

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Old 16-04-2019, 05:15 PM   #5221
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Can see the MOVING SIBOR RATE on Citi Website for rough estimation. Should be around 2.45% ~ 2.47% with Max Counter.

https://www.citibank.com.sg/gcb/depo...xgn-savacc.htm
hope so....
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Old 16-04-2019, 05:17 PM   #5222
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it is not a bad place to park the 150K at 2.4%. However, cannot withdraw is the shame.
that why u need to split your fund into 2 location at least

1) One saving that u try not to touch

2) The other like in FD or SSD in which u can use in case of emergency fund needed.
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Old 16-04-2019, 05:35 PM   #5223
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i see alot ppl here say interest can be withdrawn without affecting the counter, can anyone share how it works? so if interest is $300, i just withdraw $299?
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Old 16-04-2019, 05:40 PM   #5224
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think need to withdraw on the day when the interest is credit.
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Old 16-04-2019, 05:41 PM   #5225
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Withdraw interest only.
Good if the 150k u not intending to touch. If need to move funds around one can go for other accounts

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Old 16-04-2019, 05:42 PM   #5226
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i see alot ppl here say interest can be withdrawn without affecting the counter, can anyone share how it works? so if interest is $300, i just withdraw $299?
If interest is $300, then withdraw exact $300 or lower. Withdraw anything more will result the Counter to drop.

To Increase Counter / Maintain at Counter 12, the lowest balance in your MaxiGain account in a month is equal to or greater than the lowest balance in the previous month.

Last edited by NTTDoCoMo; 16-04-2019 at 05:45 PM..
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Old 16-04-2019, 05:43 PM   #5227
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think need to withdraw on the day when the interest is credit.
Just follow the rule.

To Increase Counter / Maintain at Counter 12, the lowest balance in your MaxiGain account in a month is equal to or greater than the lowest balance in the previous month.
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Old 16-04-2019, 05:50 PM   #5228
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If interest is $300, then withdraw exact $300 or lower. Withdraw anything more will result the Counter to drop.

To Increase Counter / Maintain at Counter 12, the lowest balance in your MaxiGain account in a month is equal to or greater than the lowest balance in the previous month.
thx for clarifying, initially i thought is based on average monthly balance. This means i need to start withdrawing when it hit $150K+, otherwise by the time it compound to $200k too late already
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Old 16-04-2019, 05:52 PM   #5229
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thx for clarifying, initially i thought is based on average monthly balance. This means i need to start withdrawing when it hit $150K+, otherwise by the time it compound to $200k too late already
Yes. If you parked 150K, every month best to withdraw the interest and move it to other account to earn better interest

Just remember the golden rule for Increasing / Maintaining Counter when you doing withdrawal.

A Base Interest Rate of 0.05% p.a. shall apply to balances in your MaxiGain account in excess of S$150,000.

Bonus Interest capped at S$150,000.

Last edited by NTTDoCoMo; 16-04-2019 at 05:54 PM..
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Old 16-04-2019, 06:16 PM   #5230
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i see alot ppl here say interest can be withdrawn without affecting the counter, can anyone share how it works? so if interest is $300, i just withdraw $299?
Yes, that's what i did. I leave S$1 for a peace of mind.

So every month, my balance increase by S$1
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Old 16-04-2019, 08:18 PM   #5231
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it is not a bad place to park the 150K at 2.4%. However, cannot withdraw is the shame.
wrong...

if you are counter 12 and the sibor remains and the total interest is still at around 2.4%

even if you withdraw, you only lose 0.6% of interest (6 counters), so you still getting 1.8%. It is still a better deal compared to some fixed deposits where you have to forfeit the interest completely.
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Old 17-04-2019, 06:37 AM   #5232
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Yes, that's what i did. I leave S$1 for a peace of mind.

So every month, my balance increase by S$1
Just to confirm you guys, I withdraw the interest fully each month leaving tha same balance inside. Not affecting the counter, maintain at max.
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Old 17-04-2019, 06:54 AM   #5233
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Yes. Just withdraw the interest each month.

Just to confirm you guys, I withdraw the interest fully each month leaving tha same balance inside. Not affecting the counter, maintain at max.
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Old 17-04-2019, 10:55 AM   #5234
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Thanks for your input. Currently growing counter, should be at counter 9 already. But due to other attractive offers in other banks, im now waiting to grow until 12 the decide from there.
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Old 17-04-2019, 11:22 AM   #5235
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Thanks for your input. Currently growing counter, should be at counter 9 already. But due to other attractive offers in other banks, im now waiting to grow until 12 the decide from there.
Btw after attaining counter 12, you still need to maintain the lowest monthly balance to be equal or more than that of previous month to keep counter at 12, if not it will drop to 6. If other banks are more attractive why not switch over as soon as possible?
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