[Gattberserk]

merlot6230 wrote:

Should be Citibank since we are here.

But if citibank then why need to wait until feb sia?

vsvs24 wrote:

Those with $75000 without salary but can have 3 GIRO (allowed in place of salary) and min $500 credit card spend can consider UOB One bank account with UOB One credit card. Interest is about 2.38% (Don't be mislead by UOB marketing which boast higher than this). But note that interest is tiered. Get 2.38% only if you have $75000. Less if lower than 75000. And don't put more than $75000 because bonus interest upto 75000 only.

For those with salary i think OCBC is higher at 2.55% once you have 70K inside.

[arctician]

With effect from 2 December 2019, the base interest rate for the Citi MaxiGain Savings Account will be revised to 50% of the 1-month Singapore
Dollar Interbank Offer Rate (1-month SIBOR). The bonus interest rate will also be revised to step up monthly from 0.05% p.a. to a maximum of
0.60% p.a.. You may refer to www.citibank.com.sg/maxigaintcdec2019 for more information.


read through last 15pages, so in conclusion we withdraw all out on 2nd dec and leave $15k till end dec for nov bonus to come in? can anyone summarize best practice in light of change?

[vsvs24]

luvpraline wrote:

Hi vsvs24, thanks for sharing. UOB One sounds good for those without salary. But if that's the case, what are the chances of getting approval for the credit card? I did sign up credit cards with them before but cancelled them few years ago.

Also, may i know how you derived 2.38% interest? my calculation gets 2.44%
(average of 1.85 + 2 + 2.15 + 2.3 + 3.88)

thanks!

Ah. I forgot to include the base interest ! Thanks for alerting.

If concern about the credit card, one way is to apply for the card first. Once you get it, then apply online or go to branch to get the UOB One account open on the spot. Then start applying GIROs. Just keep 1000 and move in the funds in the month where all 3 GIRO start to deduct. GIRO set up may take a while. UOB One is a current account. I think the first cheque book is free. Can ask for cheque book if required.

UOB One account and credit card can be applied online using myinfo and there are some promo rebates. Can check out the terms on their website.

https://www.uob.com.sg/personal/save...age#howitworks

[testingabc]

arctician wrote:

With effect from 2 December 2019, the base interest rate for the Citi MaxiGain Savings Account will be revised to 50% of the 1-month Singapore
Dollar Interbank Offer Rate (1-month SIBOR). The bonus interest rate will also be revised to step up monthly from 0.05% p.a. to a maximum of
0.60% p.a.. You may refer to www.citibank.com.sg/maxigaintcdec2019 for more information.


read through last 15pages, so in conclusion we withdraw all out on 2nd dec and leave $15k till end dec for nov bonus to come in? can anyone summarize best practice in light of change?

I think most will withdraw all out on 1 Dec if I’m not wrong?

[a4973]

testingabc wrote:

I think most will withdraw all out on 1 Dec if I’m not wrong?

Nov bonus interest that will be paid on 31 Dec is based on "old" TNC or "new" TNC? Thanks

[dreant]

testingabc wrote:

I think most will withdraw all out on 1 Dec if I’m not wrong?

And lose out 1 day of 70% sibor interest?

I don't think most will do that.

[arctician]

just called cso, they said fall below for dec will only charge in jan. so its possible to keep maxigain at zero and wait for nov int to be credited by end dec before closing account.

So can i say best practice is to transfer full amt out on 1st dec and wait for nov end to be credited by end dec before we close account?

not keen on interest for 1dec, because bonus interest will only be credited by end jan and 100% will incur fall below

[Gattberserk]

testingabc wrote:

I think most will withdraw all out on 1 Dec if I’m not wrong?

Not everyone meet the 6 month minimum criteria to avoid the penalty fee of early closure, aka $50 fine.


They should give at least 6 month notice prior for such big changes so that those who just open the acct will feel fair.

[SKenny]

All good things come to an end.

Time to move on.

[a4973]

For account at Counter 12 even if wait for November's bonus interest to be paid on 31 Dec, it will be at new 0.6% ?

[wutawa]

deemon wrote:

So isavvy-i is still a Normal isavvy account with same promotion. Does transfer between both account consider fresh fund? BecAuse it’s still under same bank. Fresh funds doesn’t mean must be from outside of Maybank?

If both isavvy and isavvy-i r under the same name, it is not fresh fund. Pls dun leak out this "secret" though.

Sry to post this in citibank thread.

[heroking]

so the new revised rate how much is the annual interest rate for 70k?
still got 2.2%?
lucky i havent open yet

[havetheveryfun]

heroking wrote:

so the new revised rate how much is the annual interest rate for 70k?
still got 2.2%?
lucky i havent open yet

~1.5%

50 % of sibor and only 0.05% per counter

[Jyvonchi]

With SIBOR dropping, even with max counter, the interest rate will be less than 1.5%

[luvpraline]

vsvs24 wrote:

Ah. I forgot to include the base interest ! Thanks for alerting.

If concern about the credit card, one way is to apply for the card first. Once you get it, then apply online or go to branch to get the UOB One account open on the spot. Then start applying GIROs. Just keep 1000 and move in the funds in the month where all 3 GIRO start to deduct. GIRO set up may take a while. UOB One is a current account. I think the first cheque book is free. Can ask for cheque book if required.

UOB One account and credit card can be applied online using myinfo and there are some promo rebates. Can check out the terms on their website.

https://www.uob.com.sg/personal/save...age#howitworks

thanks vsvs24! will check it out