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Citibank Maxigain Savings Account

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Old 01-09-2019, 10:01 AM   #5821
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I top up ard 39k to reach 70k on 31 jul...at counter 12 now..get around $108... Safe to take out interest today without dropping the counter?
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Old 01-09-2019, 10:13 AM   #5822
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I top up ard 39k to reach 70k on 31 jul...at counter 12 now..get around $108... Safe to take out interest today without dropping the counter?
I think you can take out both base and bonus interest any day the month as long as it's not above the 2 interest
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Old 01-09-2019, 10:35 AM   #5823
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I top up ard 39k to reach 70k on 31 jul...at counter 12 now..get around $108... Safe to take out interest today without dropping the counter?
Sure, just withdraw the interest earned before last day of the month.
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Old 01-09-2019, 11:14 AM   #5824
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Funny. My mum says as Christians, it's not right to use Islamic banking.
My aunty say no good to eat pork, because its red meat. But I still eat.
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Old 01-09-2019, 11:15 AM   #5825
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The interest is still around 2.5. Not bad.
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Old 01-09-2019, 11:17 AM   #5826
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Funny. My mum says as Christians, it's not right to use Islamic banking.
I don't find it funny
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Old 01-09-2019, 11:33 AM   #5827
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I love this month's interest!

Sent from Xiaomi REDMI 5A using GAGT
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Old 01-09-2019, 12:16 PM   #5828
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Need some advice on withdrawing the bonus and normal interest. I'm already at my 12th counter and have hit the limit a few months ago.

I noticed that my interest is always credited on the last day of the month, as long as it don't fall on a Sunday. The interest for August was credited yesterday on 31st Aug.

So do i withdraw on the first of the month or on the last day of the month so that I do not affect the counter.

Any advice would be greatly appreciated.
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Old 01-09-2019, 12:28 PM   #5829
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Need some advice on withdrawing the bonus and normal interest. I'm already at my 12th counter and have hit the limit a few months ago.

I noticed that my interest is always credited on the last day of the month, as long as it don't fall on a Sunday. The interest for August was credited yesterday on 31st Aug.

So do i withdraw on the first of the month or on the last day of the month so that I do not affect the counter.

Any advice would be greatly appreciated.
You can withdraw the both of your interest any day of the month as long as same or lower then the 2 interests. Any withdrawal of higher than both interests cause your counter to drop to 6.. It is better to start withdrawing after reaching 150k, the interest above it is small.
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Old 01-09-2019, 01:52 PM   #5830
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I can confirm that.
My Citi consultant sent a form over to sign & return to start my new Maxigain at counter 3 as well

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just view this month statement but the counter is 0.

i open my account on 27th aug, so not sure is it must wait until next month then can see it start from 3
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Old 01-09-2019, 03:50 PM   #5831
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You can withdraw the both of your interest any day of the month as long as same or lower then the 2 interests. Any withdrawal of higher than both interests cause your counter to drop to 6.. It is better to start withdrawing after reaching 150k, the interest above it is small.
For example the value date of the latest interest is 31 Aug, so we can withdraw the interest any date from 1 September to 30 September? Or to be safe 29 September since next interest should be credited on 30 September?
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Old 01-09-2019, 04:29 PM   #5832
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Any date is fine. As long as the lowest amount in the account for Sep not lower than the lowest amount in the account for Aug

For example the value date of the latest interest is 31 Aug, so we can withdraw the interest any date from 1 September to 30 September? Or to be safe 29 September since next interest should be credited on 30 September?
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Old 01-09-2019, 05:46 PM   #5833
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For example the value date of the latest interest is 31 Aug, so we can withdraw the interest any date from 1 September to 30 September? Or to be safe 29 September since next interest should be credited on 30 September?
Any time before the next credit of interest earned
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Old 01-09-2019, 05:57 PM   #5834
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You can withdraw the both of your interest any day of the month as long as same or lower then the 2 interests. Any withdrawal of higher than both interests cause your counter to drop to 6.. It is better to start withdrawing after reaching 150k, the interest above it is small.
Thanks for replying. I noticed that my combined interests over the past 4 months were consistently above $310.

So if I were to set up a standing instruction to transfer $290 out on (e.g. 1st of every month), and expect interest crediting consistently above $300 monthly, then theoretically I'm not going below the lowest balance of the month and my counter will not be effected.

Is my interpretation correct? It also means I can setup the standing instruction also on every 28th of the month to account for February?
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Old 01-09-2019, 06:18 PM   #5835
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Thanks for replying. I noticed that my combined interests over the past 4 months were consistently above $310.

So if I were to set up a standing instruction to transfer $290 out on (e.g. 1st of every month), and expect interest crediting consistently above $300 monthly, then theoretically I'm not going below the lowest balance of the month and my counter will not be effected.

Is my interpretation correct? It also means I can setup the standing instruction also on every 28th of the month to account for February?
Do you think SIBOR will remain constant, or that it will never fall?

The only confirmed known value is the bonus interest; which if you have 12 counters, will be 1.2%p.a. of the lowest balance from the previous month based on the number of days of that month. You won't go wrong if you setup a standing instruction to withdraw that amount every month.

Anything more than that, and there is a chance the amount withdrawn could be more than the amount credited; thus causing your counter to fall.

As for SIBOR, the lowest ever recorded level for 1-mth SIBOR was 0.18% back in 2011... Just food for thought.

Last edited by dreant; 01-09-2019 at 06:23 PM..
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