HWZ Forums

Login Register FAQ Mark Forums Read

Citibank Maxigain Savings Account

Like Tree630Likes
Reply
 
LinkBack Thread Tools
Old 04-02-2020, 11:11 PM   #7396
Master Member
 
Join Date: Feb 2018
Posts: 2,838
Not able to read BT in full. What official reason did they cite for his resignation?
vsvs24 is online now   Reply With Quote
Old 05-02-2020, 07:45 AM   #7397
Senior Member
 
Join Date: Apr 2018
Posts: 1,202
I recommended that Charles Wong ought to be fired.

Citibank Singapore probably allowed him to "save face" by requesting him to resign. Otherwise, the bank would fire him instead.
wow you are so powerful!
demoforce1 is offline   Reply With Quote
Old 06-02-2020, 07:46 PM   #7398
Arch-Supremacy Member
 
ekardo's Avatar
 
Join Date: Jan 2000
Posts: 15,734
FD can sit 12 mths....or even 24 mths.
apple to apple pls...

might as well recommend Greece savings banks ?
__________________
Live today likes there's no tomorrow
ekardo is offline   Reply With Quote
Old 19-02-2020, 11:12 PM   #7399
Master Member
 
dude123's Avatar
 
Join Date: Dec 2007
Posts: 2,586
Jus open HL isaving accounts as an alternative for maxigain. Intend to move some funds over to HL to keep below 75k. Currently at max counter now, counter will drop to 6 if I move funds out right ? Is it a wise choice to move out funds at max counter or just keep it as it is.
dude123 is offline   Reply With Quote
Old 20-02-2020, 05:39 AM   #7400
Supremacy Member
 
MrCoconut's Avatar
 
Join Date: Mar 2013
Posts: 6,277
I am at maximum counter now. If I withdraw some money, it will drop to counter 6. If I withdraw again, it should drop to 6 again, not drop to 1 right?

Sent from 8riversuites using GAGT
MrCoconut is offline   Reply With Quote
Old 20-02-2020, 07:20 AM   #7401
Arch-Supremacy Member
 
Join Date: Jun 2000
Posts: 19,334
I am at maximum counter now. If I withdraw some money, it will drop to counter 6. If I withdraw again, it should drop to 6 again, not drop to 1 right?

Sent from 8riversuites using GAGT
Drop to 6. Since their revise of bonus interest end last year. The pay out is not great anymore.
cscs3 is offline   Reply With Quote
Old 21-02-2020, 11:55 PM   #7402
Arch-Supremacy Member
 
ekardo's Avatar
 
Join Date: Jan 2000
Posts: 15,734
I am at maximum counter now. If I withdraw some money, it will drop to counter 6. If I withdraw again, it should drop to 6 again, not drop to 1 right?

Sent from 8riversuites using GAGT
I just moved out to AVIVA fd 2.38pa for 3 years..still keeping some fund in Maxigain..

counter 6 is 1.2% ?? still higher then CIMB and most bank...
__________________
Live today likes there's no tomorrow
ekardo is offline   Reply With Quote
Old 22-02-2020, 12:27 PM   #7403
Arch-Supremacy Member
 
rottingapple's Avatar
 
Join Date: Jan 2012
Posts: 21,648
I recommended that Charles Wong ought to be fired.

Citibank Singapore probably allowed him to "save face" by requesting him to resign. Otherwise, the bank would fire him instead.
Why fire him?
rottingapple is online now   Reply With Quote
Old 22-02-2020, 03:33 PM   #7404
Senior Member
 
Join Date: Apr 2018
Posts: 1,202
I just moved out to AVIVA fd 2.38pa for 3 years..still keeping some fund in Maxigain..

counter 6 is 1.2% ?? still higher then CIMB and most bank...
you are lucky, it closed very fast
demoforce1 is offline   Reply With Quote
Old 23-02-2020, 01:29 PM   #7405
Supremacy Member
 
doody_'s Avatar
 
Join Date: Nov 2006
Posts: 7,493
I just moved out to AVIVA fd 2.38pa for 3 years..still keeping some fund in Maxigain..

counter 6 is 1.2% ?? still higher then CIMB and most bank...
Old news la, now 6 counters is 0.6% only.
doody_ is offline   Reply With Quote
Old 23-02-2020, 01:58 PM   #7406
Supremacy Member
 
Join Date: Sep 2001
Posts: 9,602
Old news la, now 6 counters is 0.6% only.
Now, each counter is worth 0.05%p.a.

6 counters is 0.3%p.a.
12 counters is 0.6%p.a.
dreant is offline   Reply With Quote
Old 23-02-2020, 02:18 PM   #7407
Master Member
 
Join Date: Oct 2009
Posts: 4,202
"Good old days"?

Guess you didn't notice not getting any base interest on your $20k for the last 12 months? Since the minimum to do so was increased to $70k way back in Jan 2019.

If so, you were only getting 1.2%pa bonus interest then, and should be getting 0.6%pa now. Perhaps CIMB Fastsaver? 20k will get you 1.0%pa there.


What he said ^. Because I learned it the hard way too
tyr9292 is offline   Reply With Quote
Old 23-02-2020, 09:55 PM   #7408
Junior Member
 
Join Date: Jul 2008
Posts: 12
My banker tried to get me to open interest plus account as an alternative to maxigain which offers 1.4% interest per annum if I purchase an endowment plan. 1.2% more if I purchase investment plan which I am not considering at the moment.

1.4% will mean it is almost the same maxigain but she did mentioned that the sibor rate is likely to continue decreasing. However, after I think about it after that, it seems like not very worthwhile. The endowment plan is a pregressive kind of plan. Within 10 years, the interest is only 1% per annum. Only until 25 years, it reaches 4+%. Moreover, I checked online earlier & realized that interest plus only offers the stated interest for up to 50k.


The only perk I see so far is that cashbacks will be awarded within 3 months if I put in fresh fund. About $700 for 25k fresh fund.

Any advice?
jady__ is offline   Reply With Quote
Old 23-02-2020, 10:17 PM   #7409
Supremacy Member
 
MrCoconut's Avatar
 
Join Date: Mar 2013
Posts: 6,277
Stopped reading at endowment plan
My banker tried to get me to open interest plus account as an alternative to maxigain which offers 1.4% interest per annum if I purchase an endowment plan. 1.2% more if I purchase investment plan which I am not considering at the moment.

1.4% will mean it is almost the same maxigain but she did mentioned that the sibor rate is likely to continue decreasing. However, after I think about it after that, it seems like not very worthwhile. The endowment plan is a pregressive kind of plan. Within 10 years, the interest is only 1% per annum. Only until 25 years, it reaches 4+%. Moreover, I checked online earlier & realized that interest plus only offers the stated interest for up to 50k.


The only perk I see so far is that cashbacks will be awarded within 3 months if I put in fresh fund. About $700 for 25k fresh fund.

Any advice?
Sent from 8riversuites using GAGT
MrCoconut is offline   Reply With Quote
Old 23-02-2020, 11:28 PM   #7410
Master Member
 
Join Date: Feb 2018
Posts: 2,838
My banker tried to get me to open interest plus account as an alternative to maxigain which offers 1.4% interest per annum if I purchase an endowment plan. 1.2% more if I purchase investment plan which I am not considering at the moment.

1.4% will mean it is almost the same maxigain but she did mentioned that the sibor rate is likely to continue decreasing. However, after I think about it after that, it seems like not very worthwhile. The endowment plan is a pregressive kind of plan. Within 10 years, the interest is only 1% per annum. Only until 25 years, it reaches 4+%. Moreover, I checked online earlier & realized that interest plus only offers the stated interest for up to 50k.


The only perk I see so far is that cashbacks will be awarded within 3 months if I put in fresh fund. About $700 for 25k fresh fund.

Any advice?
If you only want a savings account like Maxigain which you can withdraw and close account anytime, why would you even want to consider an endowment fund which requires long time commitment. Interest are usually not guaranteed. Don't let the banks sway your original intention.
vsvs24 is online now   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On