[mdax23]

Counter 6 等着你 🤣🤣🤣

[LouisSaha]

The interest applies for amount up to 150k only right? If more than 150k, ur interest will still remain at 2.2%(depending on sibor rate) ?

[htngwilliam]

Sinkie wrote:

Do you own any Citibank credit card before? Do you have 10 times credit line?

I got 12x my annual for Citibank. For local banks such as UOB and OCBC, never had more than 5x even though I am a premier customer

[dreant]

LouisSaha wrote:

The interest applies for amount up to 150k only right? If more than 150k, ur interest will still remain at 2.2%(depending on sibor rate) ?

No. Both base and bonus interest are capped at 150k.

Any amount over that will only get 0.05%pa interest.

[Sinkie]

htngwilliam wrote:

I got 12x my annual for Citibank. For local banks such as UOB and OCBC, never had more than 5x even though I am a premier customer

Assuming you are a very fresh grad earning the min $30,000 pa, you are getting $360,000 credit limit with Citibank for a start? Wow

I am a Citigold and Citibank only give me 2x monthly salary while uob/dbs/may/scb give me 7-8x of my monthly salary until it burst the limit that I have to ask May n scb to reduce the limit

You must be a very super valued client with Citibank

[dengho]

dreant wrote:

Assuming:
Base interest will be 1.3% (it will change, depending on SIBOR)
You maintain your 12 counters
Your lowest balance in Sept 2019 is SGD15k
You top up your account to SGD70k today (lowest balance in Oct 2019 is SGD70k)

At the end of this month (31 Oct), you should receive ~$91 in interest (~$14 bonus + ~$77 base)
At the end of next month (30 Nov), you should receive ~$145 in interest (~$71 bonus + ~$74 base)
At the end of the following month (31 Dec), you should receive ~$146 in interest (~$69 bonus + $77 base)

(You need to also pay attention the number of days (28/30/31) of the month, which accounts for the slight differences in the amount of interest credited).



I stand slightly corrected; actually you (sort of) will - but because bonus interest for your Oct 2019 balance will only be paid out at the end of Nov 2019, and only if you maintain your 12 counters in Nov 2019 (*next* month), most people don't see it that way.

Amazingly detailed!

Thanks!

Citi Maxigain account is really one of the better accounts to accrue interest without too many weird terms and conditions

[dreant]

xfactor wrote:

我有一个 maxigain account, 在 counter 12, 有 $250,000，为了 become Citi gold.

几个月前，我 opened 多一个 joint maxigain account，这个月在 counter 5。

What is the 最好 timing to 转这笔 the excess $100,000 过去这个 joint account? 这个 month or 下个month?

谢谢🙏

If you're only looking at the bonus interest, the best time would be when the joint account has accumulated 9 counters or more. In all cases, you should transfer funds so that the joint account has $150,000 instead (because when you transfer out funds from your main maxigain account, the counters will drop to 6)

If you transfer anytime earlier than that, or have less than $150k in the joint account, you'll earn less bonus interest overall.

Between now, and when the joint account has 9 counters, you should transfer the interest earned in your account to the joint account each month, because it's otherwise only earning 0.05%p.a.

You should also make sure that you are the principle in the joint account, so that you do not lose your Citigold status, or trigger fall below fees in either account.

250k@12 counters = $150/month (capped at 150k)

150k@6 + 100k@5 = 116.67
150k@6 + 100k@6 = 125.00
150k@6 + 100k@7 = 133.33
150k@6 + 100k@8 = 141.67
150k@6 + 100k@9 = 150.00
150k@6 + 100k@10 = 158.33


100k@6 + 150k@5 = 112.50
100k@6 + 150k@6 = 125.00
100k@6 + 150k@7 = 137.50
100k@6 + 150k@8 = 150.00
100k@6 + 150k@9 = 162.50
100k@6 + 150k@10 = 175.00

If you're also taking the base interest into account, then, the next 1st of the month would be the best time to do it.

[htngwilliam]

Sinkie wrote:

Assuming you are a very fresh grad earning the min $30,000 pa, you are getting $360,000 credit limit with Citibank for a start? Wow

I am a Citigold and Citibank only give me 2x monthly salary while uob/dbs/may/scb give me 7-8x of my monthly salary until it burst the limit that I have to ask May n scb to reduce the limit

You must be a very super valued client with Citibank

Sorry sorry. I meant usually Citibank will give me 12x monthly salary whereas local banks usually not more than 4x. I am opposite of you. I am nobody in Citibank but premier customer in local bank

[testingabc]

dengho wrote:

Amazingly detailed!

Thanks!

Citi Maxigain account is really one of the better accounts to accrue interest without too many weird terms and conditions

Yes agreed, IMO Citibank Maxigain is my favourite account. Gonna top up to 75K in couple of months time to max the SDIC limit and withdraw the interest monthly.

[choconame]

Hi can I ask, when should I withdraw the interest to prevent counter drop ?

[maumu]

choconame wrote:

Hi can I ask, when should I withdraw the interest to prevent counter drop ?

have you hit $150k? if not, u should let the interest roll over and grow.

otherwise, it is safe to withdraw on 1st of every month. the interest is always credited by the last day of the month.

[ekardo]

can I confirm, if I have 78k inside, even if I withdraw 1k and left 77k, I will drop to counter 6 ?

[leemeng]

Yes if you have counter 7-12,
counter will drop to 6 if current month is less than previous month
Unless you top up back before the last day of the current month

ekardo wrote:

can I confirm, if I have 78k inside, even if I withdraw 1k and left 77k, I will drop to counter 6 ?

[maumu]

leemeng wrote:

Yes if you have counter 7-12,
counter will drop to 6 if current month is less than previous month
Unless you top up back before the last day of the current month

correction... you need to top up back on the exact same date that you withdraw the 1k.

this account works on the lowest daily balance of the month. you cannot afford a single day that the balance drops, or you will lose the counters.

[ekardo]

meaning to maximise, money can go in, but cannot go out...hmm...