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Citibank Maxigain Savings Account

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Old 02-11-2019, 07:03 AM   #6121
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Isavvy or eSaver
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Old 02-11-2019, 08:54 AM   #6122
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any advice which bank provide higest rate ?


so that we can transfer out from citibank - instead of 1.5% rate !

at least higher than cb rate for sure.

cimb was my option but hope for better deal
Same also interested to know more. Probably rotate iSAVvy and iSAVvy-i or iSAVvy with Esaver or CIMB fixed deposit or ICBC fixed deposit ?
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Old 02-11-2019, 09:22 AM   #6123
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Same also interested to know more. Probably rotate iSAVvy and iSAVvy-i or iSAVvy with Esaver or CIMB fixed deposit or ICBC fixed deposit ?

ICBC is my option ..still contemplating.
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Old 02-11-2019, 09:56 AM   #6124
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but if close the acc..

1 year later they may revert back the interest rate to the old ?

then would have to build up the counters again..

rooks like there is no more min 70k to earn base interest.. so contemplating mybe worth it to keep 15k in it..

would probably lose around 2% (esaver/isavvy ~interest rates) - 1.5% = 0.05% interest on 15k = which is only $75 a year

after all esaver/isavvy may not keep their rates at ~2% forever too, it may also gradually revise downwards till 1.5% esp after fed rate cut
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Old 02-11-2019, 10:12 AM   #6125
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but if close the acc..

1 year later they may revert back the interest rate to the old ?

then would have to build up the counters again..

rooks like there is no more min 70k to earn base interest.. so contemplating mybe worth it to keep 15k in it..

would probably lose around 2% (esaver/isavvy ~interest rates) - 1.5% = 0.05% interest on 15k = which is only $75 a year

after all esaver/isavvy may not keep their rates at ~2% forever too, it may also gradually revise downwards till 1.5% esp after fed rate cut
70k min requirement for base interest is still there
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Old 02-11-2019, 10:14 AM   #6126
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70k min requirement for base interest is still there
o yea.. missed it.. then sucks then, close it better

around $210 per year lost then to keep 15k in the acc
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Old 02-11-2019, 10:39 AM   #6127
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Good while it lasted. Hahas got 3k interest from Citibank. Guess they cant keep up with the interest rates...

Alternatively I maybe transferring to DBS Multiplier for the first $50k. And $20k to SCB Jumpstart 2%.

Any more alternatives for >2% interest?
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Old 02-11-2019, 11:29 AM   #6128
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https://info.maybank2u.com.sg/promot...isavvy-td.aspx

How is this promo from maybank?

Place an iSAVvy Time Deposit online and earn 2.00% p.a.

Enjoy 2.00% p.a. on 24-month or 1.70%p.a. on 12-month iSAVvy Time Deposit online today!

With Maybank ISAVvy Time Deposit, you get to receive your interest the next day.
Deposit Amount
Tenure

Rate (p.a.)
S$50,001 to S$1 million
24-month

2.00%

12-month

1.70%

Thought of putting 2 years... 2% interest for each year.
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Old 02-11-2019, 11:36 AM   #6129
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I don’t even get to taste it and taken away 😡

Received a call from my RM that as of 1st Dec 2019, the base interest will be reduced to 50% of SIBOR & the bonus interest also reduced to max at 0.6%. (ie. every counter will be 0.5% instead of 1%)
Time to jump ship as this work out to be around 1.5% per annual.
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Old 02-11-2019, 11:36 AM   #6130
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ICBC is my option ..still contemplating.
Just came back from ICBC ....pass
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Old 02-11-2019, 11:55 AM   #6131
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Just came back from ICBC ....pass
Korkor you place fixed deposit or saving account? Thank you very much
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Old 02-11-2019, 11:55 AM   #6132
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How does switching between scb esaver and maybank isavy work? I saw a clause under esaver
“Fresh funds means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period“

I interpret this as esaver does not recognize fresh funds switching on alternate month to get the interest for the incremental average daily balance.

Is my understanding wrong? Can anyone advise? Thanks
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Old 02-11-2019, 11:58 AM   #6133
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Same also interested to know more. Probably rotate iSAVvy and iSAVvy-i or iSAVvy with Esaver or CIMB fixed deposit or ICBC fixed deposit ?
Even ssb dip to 1.71% now

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Old 02-11-2019, 11:58 AM   #6134
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sad to hear about this. will probably leave $70k inside (and suffer 6 months of counter downgrade) and see how it goes. maybe the rates across (savings, fixed deposit, etc.) will all suffer drops due to fed rate cuts and this maxigain may still be one of the better ones to keep.

in the meantime, we have one month to look for somewhere to park the cash that we're going to take out from this account...
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Old 02-11-2019, 12:00 PM   #6135
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On 30 Nov will get base interest for Nov and bonus interest for Oct.

So bonus interest for Nov will be credited on 31 Dec.

Should pull out all funds on 1 Dec or is it worthwhile to keep 15k just to get the bonus interest for Nov credited on 31 Dec ?
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