[icicic]

Squaredot wrote:

What is stackable Have to do 6(a) to (d) to get $200.
New to Bank (“NTB”) customers are eligible to receive one of two (2) categories of reward should they fulfill the
required Reward Conditions:
a) Start a Citi Priority relationship with new funds of minimum S$50,000 within 1 month of account opening.
b) Maintain a minimum of S$50,000 in your new Citi Priority account for a minimum period of six (6) months
from the date of deposit for the purpose of the Promotion, failing which Citibank reserves the right to debit
the value equivalent to the reward given to you, from any account that you maintain with Citibank.
c) Register for Electronic Banking Statements within 1 month of account opening and maintain the selection for
a minimum period of 2 months or until you receive the Citi Priority Welcome Reward.
d) Complete an Online Investment Risk Profile (IRP) on Citibank Online OR Total Wealth Fact Finder (TWFF) session with a Personal Banker within 1 month of account opening.

Stackable means can get both. Looks like single promotional offer for new to bank sigh. Thanks for digging out the terms! Couldn't find it earlier (mobile having some problems with pdf.)

[battledome64]

Squaredot wrote:

What is stackable Have to do 6(a) to (d) to get $200.
New to Bank (“NTB”) customers are eligible to receive one of two (2) categories of reward should they fulfill the
required Reward Conditions:
a) Start a Citi Priority relationship with new funds of minimum S$50,000 within 1 month of account opening.
b) Maintain a minimum of S$50,000 in your new Citi Priority account for a minimum period of six (6) months
from the date of deposit for the purpose of the Promotion, failing which Citibank reserves the right to debit
the value equivalent to the reward given to you, from any account that you maintain with Citibank.
c) Register for Electronic Banking Statements within 1 month of account opening and maintain the selection for
a minimum period of 2 months or until you receive the Citi Priority Welcome Reward.
d) Complete an Online Investment Risk Profile (IRP) on Citibank Online OR Total Wealth Fact Finder (TWFF) session with a Personal Banker within 1 month of account opening.

I don't have an existing priority banking relationship
Mine is consumer banking or no frills banking therefore I am new to bank customer

To be honest I do not have personal banker and all know about my relationship with citi are the annual fees n all kinds of fees

[wira]

doody_ wrote:

Radio today was advertising this new savings account from Citibank.

Basically, you are paid a base interest which is 80% of the 1-month SIBOR rate. For every month, you get bonus interest starting from 0.1% after 1st month, until max of 1.2% after 12 months. Account balance cannot be taken out, else the bonus interest resets. Either maintain same balance or increase balance.

Sounds very interesting as you could potentially get up to 2% yet able to withdraw money any time without penalty, unlike a fixed deposit.

https://www.citibank.com.sg/gcb/depo...xgn-savacc.htm

Hi
Anyone knows if 1 math SIBOR goes up for eg 1.5% does it mean base rate will become 1.2 % ? So total can get > 2% ?

What happens after 13 mths ? Gets perpetual 0.8 of SIBOR + 1.2% ??

[wira]

Can I do this way ?
1. Open max gain account and deposit $10k.
2. Leave $10k for 12 months.
3. At end of 12 mths I will get interest of 0.8 of SIBOR plus 1.2% ?
4. At 13 mth I will deposit $140k and total $150k will earn more than 2% interest perpetually ?

[Squaredot]

wira wrote:

Can I do this way ?
1. Open max gain account and deposit $10k.
2. Leave $10k for 12 months.
3. At end of 12 mths I will get interest of 0.8 of SIBOR plus 1.2% ?
4. At 13 mth I will deposit $140k and total $150k will earn more than 2% interest perpetually ?

Good plan. But point 4, your interest will be 1.2% if 1mth SIBOR=0

[wira]

Squaredot wrote:

Good plan. But point 4, your interest will be 1.2% if 1mth SIBOR=0

Yeah. But if 1 mth SIBOR goes up then total interest will exceed 2%.

[Squaredot]

wira wrote:

Yeah. But if 1 mth SIBOR goes up then total interest will exceed 2%.

that's right too!

[cybercom8]

today a citigold rm told me must increase the balance each month in order to increase by 0.1% bonus interest.

so if leave $10k untouched for 12 months is not enough to get 1.2% bonus?

lazy to keep having to remember to transfer money over each month

[Hyphos]

cybercom8 wrote:

today a citigold rm told me must increase the balance each month in order to increase by 0.1% bonus interest.

so if leave $10k untouched for 12 months is not enough to get 1.2% bonus?

lazy to keep having to remember to transfer money over each month

Based on TnC and the guy who served me, just hold the balance can already.

[magnesium1]

cybercom8 wrote:

today a citigold rm told me must increase the balance each month in order to increase by 0.1% bonus interest.

so if leave $10k untouched for 12 months is not enough to get 1.2% bonus?

lazy to keep having to remember to transfer money over each month

By right, you can leave $10k untouched for 12 mths. The monthly interest credited will increase the balance each month.

Even you don't transfer money, the compounded interest will help total balance to step up.

Otherwise you can schedule regular $1 FAST transfer on 1st day of the mth from your other bank account.

[mdax23]

MikeDirnt78 wrote:

citibank used to have a similar step up account previously. good thing for this one is the reset for bonus i/r is not back to 0 but the minimum is higher.

sibor is rising so this account will be useful when the right time comes.

0-5 month is reset to zero right
only 6-12 month is reset to 6

[chuanz]

cybercom8 wrote:

today a citigold rm told me must increase the balance each month in order to increase by 0.1% bonus interest.

so if leave $10k untouched for 12 months is not enough to get 1.2% bonus?

lazy to keep having to remember to transfer money over each month

Go fk the RM?

Quote:

The Counter increases by 1 each time the Bonus Interest Rate steps up. The Bonus Interest Rate steps up in a month if the lowest balance in that month is equal to or greater than the lowest balance in the preceding month. Bonus interest is computed based on the preceding month's lowest balance and number of calendar days in the preceding month. The lowest amount of funds in your MaxiGain account at any point in time in a month shall be the "lowest balance" of that month.

Anyway, like previous post mentioned, the interest credited would take care of "incremental" balances, if your RM insisted on that.

[Jorgensen]

wira wrote:

Hi
Anyone knows if 1 math SIBOR goes up for eg 1.5% does it mean base rate will become 1.2 % ? So total can get > 2% ?

What happens after 13 mths ? Gets perpetual 0.8 of SIBOR + 1.2% ??

Yes. I have the same question too. What happen after 13 months?Do I get this rate even after 13 months as long as minimum sum of 10k is inside the account?

[chuanz]

Jorgensen wrote:

Yes. I have the same question too. What happen after 13 months?Do I get this rate even after 13 months as long as minimum sum of 10k is inside the account?

If your month's lowest balance is less than last month's lowest balance then the bonus interest steps get dial back to "6".

But if you do not trigger a step reset to "6", then that's how a step-up interest account usually works. and I don't read anything that suggest otherwise about the MaxiGain account, so far.

[oceanicmanta]

Received $0.24 interest for 1 day on 10k initial deposit.
Huat ar !