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Citibank Maxigain Savings Account

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Old 01-05-2019, 11:33 PM   #5341
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if i receive interest on 30th of April, can i draw out the interest today 2nd may without affecting counter? i assume the tnc is lowest balance in current month must be higher than lowest balance in previous month without reseting the counter? Or Or need to withdraw on 30th of every month i.e. same day when interests is credited?
Yes you may withdraw the interest only in the following month without affecting counter.


Withdrawal of Interest without Resetting the Counter

For example, an account holder has amassed a balance of $150,000 at the start of the month and has decided to withdraw the excess interest which earns a paltry 0.05% interest rate. At the end of the month, the base and bonus interest is credited to the account but the lowest balance of the month remains at $150,000.

Lowest Balance in Month 1: $150,000

The account holder then withdraws the interest at the start of the following month, leaving the balance of $150,000 untouched.

Lowest Balance in Month 2: $150,000

As the lowest balance in Month 1 is equal to the lowest balance in Month 2, the Counter will raise by 1. If the Counter has already reached the maximum count, it will not reset.
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Old 01-05-2019, 11:40 PM   #5342
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for people who put $149,999.95 how much are they getting each month now considering they have max 12 counters....
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Old 01-05-2019, 11:44 PM   #5343
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rough calculation is $310?
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Old 02-05-2019, 02:39 AM   #5344
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where to open citibank maxigain account? can go to those mrt one or some specific one? 70k they will give Citi Priority Debit Mastercard better?
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Old 02-05-2019, 03:41 AM   #5345
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Yes you may withdraw the interest only in the following month without affecting counter.
thank you in this case does it make a difference if we withdraw on 30th when interest is credited or on 1st of following month? based on your tnc seems to have no impact. Just trying to understand if the date really matters
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Old 02-05-2019, 05:19 AM   #5346
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May I know what is the Sibor rate for Apr interest ?
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Old 02-05-2019, 07:09 AM   #5347
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where to open citibank maxigain account? can go to those mrt one or some specific one? 70k they will give Citi Priority Debit Mastercard better?
this is dangerous if you used too much and cause $ lower than a month before
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Old 02-05-2019, 09:40 AM   #5348
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May I know what is the Sibor rate for Apr interest ?
My calculation is 1.771300%
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Old 02-05-2019, 09:50 AM   #5349
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My calculation is 1.771300%
I got 1.8233%

1.77% dont seem right
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Old 02-05-2019, 10:11 AM   #5350
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I got 1.8233%

1.77% dont seem right
Closer to 1.85% as April has 30 days
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Old 02-05-2019, 11:00 AM   #5351
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means there are no maximum interest cap, if sibor keep getting higher and higher
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Old 02-05-2019, 11:03 AM   #5352
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means there are no maximum interest cap, if sibor keep getting higher and higher
I put 150k at step 12 because I bet SIBOR is climbing up lor...
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Old 02-05-2019, 11:04 AM   #5353
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Technically this is right but what’s stopping them from revising it to 60% of SIBOR?

means there are no maximum interest cap, if sibor keep getting higher and higher
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Old 02-05-2019, 11:07 AM   #5354
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Technically this is right but what’s stopping them from revising it to 60% of SIBOR?
They have done that before.
Nothing can stop them.
Either stay with them or jump to their competitor's products.
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Old 02-05-2019, 01:39 PM   #5355
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Technically this is right but what’s stopping them from revising it to 60% of SIBOR?
I believe they'll control the total interest max at around 2.4~2.5%. SIBOR rise too much, they'll reduce the % to balance out.
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