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Citibank Maxigain Savings Account

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Old 27-08-2019, 07:27 PM   #5791
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Hi just wish to clarify further.
Say interest credited on 1 September, can withdraw the interest any date of the month of September before 1 October?
yes correct
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Old 27-08-2019, 08:46 PM   #5792
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Actually this make sense. Maybe 70k with maxigain.
Then the rest i put in cimb for 3 mths, then decide later.
Can look into standard chartered esaver account at 1.85% for 2 months then shift out then after 2 months put back again
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Old 27-08-2019, 08:55 PM   #5793
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can move here and there one meh?

Can look into standard chartered esaver account at 1.85% for 2 months then shift out then after 2 months put back again
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Old 27-08-2019, 08:57 PM   #5794
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Can i simply put 15k, do nothing and keep increasing my counter?
Assuming interest earned is left inside.
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Old 27-08-2019, 09:13 PM   #5795
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Can i simply put 15k, do nothing and keep increasing my counter?
Assuming interest earned is left inside.
I did 15k from the start. Waited for counter 6 and ramp up to 70k. Interest becomes around 2%. Slowly top up to 150k. Never look back since. Best decision ever.
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Old 27-08-2019, 09:18 PM   #5796
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i have the same issue here. i not sure if i should just put 15k for the counter to go up for one year or just park 70k in it.

currently only have uob stash account, however it is not maxed out. so i still can put it in there
this actually depends how much is in your uob stash, if there is 100k in your uob stash is only 1% interest, even if citibank maxigain at counter 1 you still get 0.7x1.88(current sibor rate)+0.1 which is still more than uob stash.
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Old 27-08-2019, 09:21 PM   #5797
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Can i simply put 15k, do nothing and keep increasing my counter?
Assuming interest earned is left inside.
you can, but do take note you can only get bonus interest from 0.1% onwards, which is very little imo for the first few months. if you have the funds to top up 55k more, you can get 0.7x1.88(current sibor rate) more each month.
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Old 28-08-2019, 06:14 AM   #5798
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can move here and there one meh?
Can. It's a merry go round. Just leave minimum of $1k in SC esaver to avoid fall below fee
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Old 28-08-2019, 10:01 AM   #5799
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Can. It's a merry go round. Just leave minimum of $1k in SC esaver to avoid fall below fee
Actually based on current rates Maybank isavvy is better than esaver for smaller amount. eg 55k esaver is 1.9% while Maybank isavvy is 2% for all amounts.

Also Maybank current cycle is Jul to Aug so new cycle starts 1 Sep. Esaver current cycle Aug to Sep.

And esaver min sum $1000, Maybank isavvy $500.

Those interested should wait for Maybank to release rates for Sep to Oct on 1 Sep.
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Old 28-08-2019, 10:26 AM   #5800
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Actually based on current rates Maybank isavvy is better than esaver for smaller amount. eg 55k esaver is 1.9% while Maybank isavvy is 2% for all amounts.

Also Maybank current cycle is Jul to Aug so new cycle starts 1 Sep. Esaver current cycle Aug to Sep.

And esaver min sum $1000, Maybank isavvy $500.

Those interested should wait for Maybank to release rates for Sep to Oct on 1 Sep.
This seems to be a very good idea but still need to create an account to merry-go-round with. Can I know when is the best to create this account? 31st august or 1st sep? Thanks..
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Old 28-08-2019, 10:28 AM   #5801
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You can open a Maybank iSavvy and a iSavvy-islamic account under your own name and transfer the sums from one to the other (better through a different account) every 2 months. Might have to open on 30th or 31st Aug since 1 Sep is a Sunday. Don’t put more than $500 into the account before 1 Sep.

This seems to be a very good idea but still need to create an account to merry-go-round with. Can I know when is the best to create this account? 31st august or 1st sep? Thanks..
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Old 28-08-2019, 10:47 AM   #5802
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You can open a Maybank iSavvy and a iSavvy-islamic account under your own name and transfer the sums from one to the other (better through a different account) every 2 months. Might have to open on 30th or 31st Aug since 1 Sep is a Sunday. Don’t put more than $500 into the account before 1 Sep.
My opinion : May be better to open after the rates of Sep to Oct is released on 1 or 2 Sep. Just in case rates drop (touchwood) then can decide whether to go ahead to open account. If open on 2 Sep Mon, lose some interest better than to do the work to open account and regret later.
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Old 28-08-2019, 02:10 PM   #5803
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Actually based on current rates Maybank isavvy is better than esaver for smaller amount. eg 55k esaver is 1.9% while Maybank isavvy is 2% for all amounts.

Also Maybank current cycle is Jul to Aug so new cycle starts 1 Sep. Esaver current cycle Aug to Sep.

And esaver min sum $1000, Maybank isavvy $500.

Those interested should wait for Maybank to release rates for Sep to Oct on 1 Sep.
Thanks for sharing! May I know which account do you merry go round with?
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Old 28-08-2019, 02:28 PM   #5804
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You can open a Maybank iSavvy and a iSavvy-islamic account under your own name and transfer the sums from one to the other (better through a different account) every 2 months. Might have to open on 30th or 31st Aug since 1 Sep is a Sunday. Don’t put more than $500 into the account before 1 Sep.
just wondering if i were to ever go to the counter for any transaction and the staff sees that i have an Islamic account and i look like a chinese, would they question me?

update: ok i just tested their online account opening, there is no option to open an isavvy islamic account, only the normal isavvy, and duplicate accounts are not allowed

Last edited by luvpraline; 28-08-2019 at 02:35 PM..
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Old 28-08-2019, 02:53 PM   #5805
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No issues. I’ve opened the Islamic account before for Maybank and CIMB without any issues, though some CSOs are unaware that the iSavvy higher interest promotion applies for the iSavvy-Islamic account as well.

The Islamic account has to be opened at Maybank branches. Cannot do online.

just wondering if i were to ever go to the counter for any transaction and the staff sees that i have an Islamic account and i look like a chinese, would they question me?

update: ok i just tested their online account opening, there is no option to open an isavvy islamic account, only the normal isavvy, and duplicate accounts are not allowed
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