[ahchan]

JustDoLor wrote:

Thanks for the clarification😊

So does it mean it is better to take out everything and close acct on 2-Dec ?

[mdax23]

ahchan wrote:

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.

[linuskltan]

ahchan wrote:

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.

[Guojing88]

linuskltan wrote:

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?

[Guojing88]

mdax23 wrote:

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?

[a4973]

May I know what interest is expected after the interest that will be paid on 30 Nov assuming empty account on 2 Dec? Thanks

[mdax23]

Guojing88 wrote:

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)

[luvpraline]

mdax23 wrote:

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?

[cscs3]

luvpraline wrote:

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.

[mdax23]

luvpraline wrote:

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.

[Rainbow1112]

Stashaway cash management might be a option for those planning to exit maxigain. They claim to offer interest of 1.9%

[demoforce1]

Rainbow1112 wrote:

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?

[Rainbow1112]

demoforce1 wrote:

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.

[assiak71]

Rainbow1112 wrote:

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?

[ahchan]

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.