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Citibank Maxigain Savings Account

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Old 16-11-2019, 04:41 PM   #6361
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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   #6362
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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   #6363
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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   #6364
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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   #6365
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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   #6366
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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   #6367
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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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Old 18-11-2019, 01:00 PM   #6368
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Thank you Citibank for all that nice interest in the past. Gonna missed the 2.2% interest...

Now if i wanna slowly transfer out to other banks and the amount gradually fall to zero. Will they charge me a penalty or fine?
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Old 18-11-2019, 01:35 PM   #6369
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A bit confuse here ... is it OK to move fund out on 1st Dec ?
Any issue with this date ( 1st Dec) ?
Seems like a lot of people using 2nd Dec as the date for moving the fund out
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Old 18-11-2019, 01:47 PM   #6370
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A bit confuse here ... is it OK to move fund out on 1st Dec ?
Any issue with this date ( 1st Dec) ?
Seems like a lot of people using 2nd Dec as the date for moving the fund out
To keep it simple, should move fund after receiving the interest.
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Old 18-11-2019, 01:57 PM   #6371
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A bit confuse here ... is it OK to move fund out on 1st Dec ?
Any issue with this date ( 1st Dec) ?
Seems like a lot of people using 2nd Dec as the date for moving the fund out
No issue. Just that 1st Dec is a Sunday.
Those with 150K should start to move on 1st Dec.
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Old 18-11-2019, 02:13 PM   #6372
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Why not buy the UTs yourself? Whats the benefit of stashaway?
You will lose out on 0.125% rebate if you buy the funds through other platform.
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Old 18-11-2019, 08:35 PM   #6373
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A bit confuse here ... is it OK to move fund out on 1st Dec ?
Any issue with this date ( 1st Dec) ?
Seems like a lot of people using 2nd Dec as the date for moving the fund out
31 aug( last day of month ) fell on a Saturday . Bonus interest came in on 31 aug.

30 Nov ( last day of month) fell on a Sunday. Hopefully bonus interest come in on 30 Nov.

But if they play punk and delay crediting interest till after one withdraw all then GG...... though ......can dispute because terms is


You will receive your base interest on the last day of a month, starting as early as 31 January 2019, for so long as you meet the minimum balance of S$70,000. You will receive your bonus interest on the last day of February 2019, provided the lowest balance in February 2019 is equal to or greater than the lowest balance in January 2019.

Last edited by sgdividends; 18-11-2019 at 08:38 PM..
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Old 18-11-2019, 10:17 PM   #6374
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the issue is that even if interest is credited on last day of the month, we will only see it reflected the day after ... cant move interest out on the last day itself

i think only once interest was credited day before month end ... never late crediting
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Old 19-11-2019, 07:41 AM   #6375
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Wait. What did I miss?
The account closing already?
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