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Citibank Maxigain Savings Account

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Old 15-11-2019, 03:23 PM   #6346
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Thanks for the clarification😊
So does it mean it is better to take out everything and close acct on 2-Dec ?
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Old 15-11-2019, 04:08 PM   #6347
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So does it mean it is better to take out everything and close acct on 2-Dec ?
Take out everything but don't close until you get all the interest.
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Old 15-11-2019, 04:33 PM   #6348
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So does it mean it is better to take out everything and close acct on 2-Dec ?
If you can find an interest rate better than ~1.2% p.a. for the $15k, then you should do so.
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Old 16-11-2019, 10:26 AM   #6349
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If you can find an interest rate better than ~1.2% p.a. for the $15k, then you should do so.
Thus, if you have an i savvy account, it makes sense to close everything on 2nd Dec?
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Old 16-11-2019, 10:28 AM   #6350
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Take out everything but don't close until you get all the interest.
If you leave it as zero after 2nd Dec, but don't close it, will there be any fees for lack of min balance?
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Old 16-11-2019, 10:56 AM   #6351
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May I know what interest is expected after the interest that will be paid on 30 Nov assuming empty account on 2 Dec? Thanks
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Old 16-11-2019, 12:04 PM   #6352
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If you leave it as zero after 2nd Dec, but don't close it, will there be any fees for lack of min balance?
There will be but only in Jan 20.

So after u transfer out the last interest. Then u can take your time to close it since its zero balance. (provided it will not go into overdraft, I am not sure about this)
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Old 16-11-2019, 04:15 PM   #6353
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There will be but only in Jan 20.

So after u transfer out the last interest. Then u can take your time to close it since its zero balance. (provided it will not go into overdraft, I am not sure about this)
if they only credit the bonus interest on 1 Jan (like they did for 1 Nov ), then most likely the bonus interest for nov will be credit at the same time as the fall below fee is deducted

can just leave the account balance at 0 and eventually they will automatically close it right?
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Old 16-11-2019, 04:41 PM   #6354
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if they only credit the bonus interest on 1 Jan (like they did for 1 Nov ), then most likely the bonus interest for nov will be credit at the same time as the fall below fee is deducted

can just leave the account balance at 0 and eventually they will automatically close it right?
There may be a services charge if balance fall below certain amount.
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Old 16-11-2019, 05:20 PM   #6355
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if they only credit the bonus interest on 1 Jan (like they did for 1 Nov ), then most likely the bonus interest for nov will be credit at the same time as the fall below fee is deducted

can just leave the account balance at 0 and eventually they will automatically close it right?
Hopefully they credit you on 30-31 Dec since 1st is PH. They may delay until 2nd also I won't know.
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Old 18-11-2019, 03:15 AM   #6356
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Stashaway cash management might be a option for those planning to exit maxigain. They claim to offer interest of 1.9%
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Old 18-11-2019, 03:57 AM   #6357
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Stashaway cash management might be a option for those planning to exit maxigain. They claim to offer interest of 1.9%
do we need to pay any fee?
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Old 18-11-2019, 07:44 AM   #6358
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do we need to pay any fee?
No management fees. But there is underlying fund fees of .33% which around 0.125 will be return to us via rebate.
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Old 18-11-2019, 07:53 AM   #6359
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No management fees. But there is underlying fund fees of .33% which around 0.125 will be return to us via rebate.
Why not buy the UTs yourself? Whats the benefit of stashaway?
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Old 18-11-2019, 11:28 AM   #6360
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Hi, seems we still not sure how Citibank will do if we move out all fund on 2-Dec and leave account open...

Will they still give interest on 2-Jan and how/when they will deduct the fall-below fee..

Thinking to call their call centre up...but I think they may not provide good advice also as they always say they don't know the back-end operations.....
Anyone has already tried calling them ? Any advices given ?

TIA.
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