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Citibank Maxigain Savings Account

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Old 04-09-2019, 04:38 PM   #5866
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Check back after a couple of days. I've had transfers where the recorded timestamp was later updated a few days later.

If both timestamps remain the same date, you might be ok. If it isn't, then tough. Not a whole lot else you can do except be more careful next time.

Then again, if you follow the exact wording in the terms and conditions, you've already triggered the condition to lose counters - most people here believe the system uses the 'end of day' balance, and it does appear that the system currently uses that; but they can change it anytime, and it would still adhere to their current T&Cs.

Let us know next month if you lost counters or not. I'm sure many people would like to know.

Thanks, just checked and yes, the timestamp changed to reflect the deposit as before the withdrawal.

And yes, CSO also confirmed that they use end of day balance, although their TnC do state "at any point of time in the month".

But i was misled thrice by the CSO, who was given the wrong info by the Citi Product manager. So in summary, dont trust Citibank, their staff dont even know what they are saying half the time.
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Old 04-09-2019, 04:48 PM   #5867
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Interest Earned = base interest for Aug 2019 based on Sibor

Bonus Interest Earned = bonus interest for Jul 2019 based on number of counters

Hi

Does anyone know if the bonus from 31/08/2019 is it for the month of July or Aug? If its for Aug, it seems like the bonus interest is much lesser than what I am suppose to get.

Thanks
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Old 11-09-2019, 07:30 PM   #5868
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Hi guys, may I know what's the difference between Citibank maxigain saving account vesus fix deposit?
I'm actually looking to open a fix deposit and found out about maxigain saving account while enquiring at Citibank branch.

I have a ocbc 360 account currently and wonder if parking some savings in maxigain account would be reccomended.

So is it reccomended to open a fix deposit account or to go with Citibank maxigain savings account?

Thanks in advance

Last edited by xfufux; 11-09-2019 at 07:39 PM..
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Old 11-09-2019, 09:37 PM   #5869
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Hi guys, may I know what's the difference between Citibank maxigain saving account vesus fix deposit?
I'm actually looking to open a fix deposit and found out about maxigain saving account while enquiring at Citibank branch.

I have a ocbc 360 account currently and wonder if parking some savings in maxigain account would be reccomended.

So is it reccomended to open a fix deposit account or to go with Citibank maxigain savings account?

Thanks in advance
In my opinion, this will depends on whether you will be using the cash with 3-24 months or beyond. For Citibank Maxigain, it gives you very good rate around 2.5% (on current sibor rates) only after 12 months / 12 counters. It is ideal for funds you will not be using for more than 2 years. But for fixed deposit, it gives you decent rate for 3-24 months depending on the bank. You can opt for Maybank iSavvy/SCB Esaver/HSBC EGA accounts if you are hardworking to marry-go-round, but this will depends on your spending habits and the amount.

For me, I will recommend you to put either 15k / 70k to build the counters and keep the cash elsewhere (depends whether you need the cash in short terms or no). Then once reach high counters, then top up the remaining.
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Old 12-09-2019, 12:29 AM   #5870
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In my opinion, this will depends on whether you will be using the cash with 3-24 months or beyond. For Citibank Maxigain, it gives you very good rate around 2.5% (on current sibor rates) only after 12 months / 12 counters. It is ideal for funds you will not be using for more than 2 years. But for fixed deposit, it gives you decent rate for 3-24 months depending on the bank. You can opt for Maybank iSavvy/SCB Esaver/HSBC EGA accounts if you are hardworking to marry-go-round, but this will depends on your spending habits and the amount.

For me, I will recommend you to put either 15k / 70k to build the counters and keep the cash elsewhere (depends whether you need the cash in short terms or no). Then once reach high counters, then top up the remaining.
I'm thinking of putting 150k straight as I will not be needing it now. Will that be OK?
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Old 12-09-2019, 12:58 AM   #5871
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I'm thinking of putting 150k straight as I will not be needing it now. Will that be OK?
Of course this is OK as the cash is yours but if I have 150k i will only put 15k to Citibank Maxigain to gain counters first while the rest probably in Maybank iSavvy/SCB Esaver to get the best of the interest rates (for the hardworking ones) or Maybank (9months)/ ICBC (12months) fixed deposit (for the lazy ones).
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Old 12-09-2019, 01:10 AM   #5872
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If I have max out 150k with counter 12, Can i open another joint account with my name as the main account holder and start accumulating from $0 in the joint account with no worries about fall below fee?
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Old 12-09-2019, 01:11 AM   #5873
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I'm thinking of putting 150k straight as I will not be needing it now. Will that be OK?
Aiyoh. That would be a waste. Just start with 15k first.
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Old 12-09-2019, 09:06 AM   #5874
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Aiyoh. That would be a waste. Just start with 15k first.
Oh. It takes one year to get full interest? Citibank staff told me I have to put min 70k to get the base interest.

And I have to wait for a year before getting 12 counters?

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Old 12-09-2019, 09:46 AM   #5875
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Aiyoh. That would be a waste. Just start with 15k first.
used to be 15k, now got to start with 70k
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Old 12-09-2019, 10:02 AM   #5876
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Oh. It takes one year to get full interest? Citibank staff told me I have to put min 70k to get the base interest.

And I have to wait for a year before getting 12 counters?
If you put 15K you only get the bonus interest from 0.1% to 1.2%. But if you put 70K you get 1.3% to 2.5% depends on your counters. Citibank Maxigain reached its full potential when it's on counter 12 (after a year) and leaving the cash there for compound interest. Current sibor rate is around 1.88 so this month if you are on counter 12 you stand to get 0.7x1.88+1.2=2.5% (roughly)
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Old 12-09-2019, 11:38 AM   #5877
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Can i put 15k open the account first? Then wait it reach to counter 12 then add the amount to 70k? Or u need 70k to open maxigain acc?
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Old 12-09-2019, 11:45 AM   #5878
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Can i put 15k open the account first? Then wait it reach to counter 12 then add the amount to 70k? Or u need 70k to open maxigain acc?
put 15k first to clock counter & avoid fall below fee

put 70k only if u r not getting at least 1.2% (ie 70% of SIBOR) elsewhere
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Old 12-09-2019, 12:05 PM   #5879
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put 15k first to clock counter & avoid fall below fee

put 70k only if u r not getting at least 1.2% (ie 70% of SIBOR) elsewhere
So maxigain acc can be open with 15k?
Then i shall put 15k n let it reach counter 12. Before i pump up to 70k.
Not gonna withdraw with maxigain, so wont have fall below fee.
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Old 12-09-2019, 12:17 PM   #5880
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So maxigain acc can be open with 15k?
Then i shall put 15k n let it reach counter 12. Before i pump up to 70k.
Not gonna withdraw with maxigain, so wont have fall below fee.
$5 also can open ... just will kena fee
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