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Citibank Maxigain Savings Account

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Old 23-05-2020, 10:51 AM   #7591
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if I am not wrong, you need to maintain monthly giro $500 to get 0.9%, not sure if still applicable
You are wrong. If you had simply clicked on the link and read, you would have known that.

That is the base interest, and you only need to maintain a balance of $5k (or more) to earn it.

The current promotion is, if you increase your balance by $500 from the previous month, you get an extra 0.2% interest on your entire balance ; so, old accounts get 1.1% total, while newer accounts get 1.0% only.

Last edited by dreant; 23-05-2020 at 12:00 PM..
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Old 23-05-2020, 03:08 PM   #7592
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You are wrong. If you had simply clicked on the link and read, you would have known that.

That is the base interest, and you only need to maintain a balance of $5k (or more) to earn it.

The current promotion is, if you increase your balance by $500 from the previous month, you get an extra 0.2% interest on your entire balance ; so, old accounts get 1.1% total, while newer accounts get 1.0% only.
oh okay, but I do not see it mentioned 0.9% base interest there
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Old 23-05-2020, 03:34 PM   #7593
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oh okay, but I do not see it mentioned 0.9% base interest there
See here. This is before the promo for $500 topup.

https://www.cimbbank.com.sg/en/perso...-account-rates
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Old 23-05-2020, 03:50 PM   #7594
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oh okay, but I do not see it mentioned 0.9% base interest there
Not the link in the post that I just replied to you with; that was to show you where you might have been mistaken about the $500 top-up each month.

It's the link in your post, that you quoted and replied to.

Spoiler!

Last edited by dreant; 23-05-2020 at 03:54 PM..
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Old 23-05-2020, 09:56 PM   #7595
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Though this link for Citibank maxigain ? Now all side track to other bank....
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Old 23-05-2020, 11:20 PM   #7596
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Though this link for Citibank maxigain ? Now all side track to other bank....
well current rate now is 0.5x0.3125+0.6%=0.75625% (and that is after counter 12 which is 1 year). sadly, maxigain has declined since late last year. cimb fastsaver can get more interest rates fuss free instantly and still can withdraw
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Old 24-05-2020, 05:55 AM   #7597
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well current rate now is 0.5x0.3125+0.6%=0.75625% (and that is after counter 12 which is 1 year). sadly, maxigain has declined since late last year. cimb fastsaver can get more interest rates fuss free instantly and still can withdraw
yea... with SIBOR so low, I see no reason keeping Maxigain Acc, closed my account earlier this month already.

Sad that this once amazing product is gone :/
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Old 25-05-2020, 02:37 PM   #7598
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any current offers for Citigold, scb, uob privileged, etc.?

Which one has the best sign up offer?
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Old 27-05-2020, 01:08 PM   #7599
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Byebye Maxigain. With one mth sibor so low, its not longer attractive to keep money here.

Will transfer out 1 June, and keep $15K (to avoid fall below fee) for one month, so as to collect the previous month interest, then close account liao.
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Old 27-05-2020, 01:29 PM   #7600
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Byebye Maxigain. With one mth sibor so low, its not longer attractive to keep money here.

Will transfer out 1 June, and keep $15K (to avoid fall below fee) for one month, so as to collect the previous month interest, then close account liao.
Actually how much interest can we get with just $15,000?

Now close account needs to go down bank branch physically to close, so troublesome
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Old 27-05-2020, 01:30 PM   #7601
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Actually how much interest can we get with just $15,000?

Now close account needs to go down bank branch physically to close, so troublesome
I closed mine without going to the bank.
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Old 27-05-2020, 01:37 PM   #7602
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I closed mine without going to the bank.
I sent them secured message via inbox 1 month ago, but it’s still there
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Old 27-05-2020, 01:42 PM   #7603
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I closed mine without going to the bank.
How to close the account without going to the bank?
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Old 27-05-2020, 01:45 PM   #7604
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FYI for everyone.

Thank you for using Citibank Online.

We are sorry to learn of your decision to close your savings accounts.

If you wish to proceed with the account closure, you will need to first
zero out the account by initiating a transfer or withdrawing the funds.
Before you close the Account
, we wish to highlight the following to you
for further consideration:

Please note to terminate the existing GIRO or Standing Instructions
arrangement. If there are pending cheques for clearance or presented
after the account is closed, it will be returned. Any credit facility
linked to the account has to be cancelled and that there are no
outstanding amount.

Please also note that online access will no longer be available for an
account that has been closed. The ATM card that has been issued for your
bank transactional account will also have to be cancelled upon account
closure. As such, please retrieve records of your statement before
confirming your closure request.

Thereafter, you may send in your account closure instruction via this
secured message channel for us to initiate the account closure.
Meanwhile, please be advise that FAST tramsfer limit is SGD 100,000 per
day with SGD 50,000 per transfer.


Your account will remain active until we hear further from you

We appreciate your understanding on this matter.

Yours Sincerely
This was their response when i queried abt the account closure. Hope it helps
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Old 27-05-2020, 03:16 PM   #7605
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Need to keep account for one month so that you don't forgo your previous month interest. For example, interest for the month of May will be paid NOT at the end of May, but at the end of June. So if I terminate the account on 1 June, I will be basically losing my entire May's interest. So just withdraw all out, and leave minimum balance ($15K) behind to avoid fall below fee.
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