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Citibank Maxigain Savings Account

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Old 01-09-2020, 12:30 AM   #7711
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Aiyoh. Who wants to climb ladder again
What's the start rate and max rate after 12m?
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Old 01-09-2020, 12:37 AM   #7712
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Revision to the Citi MaxiGain Savings Account

With effect from 1 October 2020, please note that the following changes will apply to your Citi MaxiGain Account:

A base interest rate of 0.01% p.a. will be paid on the entire account balance. There is no minimum balance required to earn base interest.
Your balances capped at S$70,000 shall earn bonus interest at a rate that steps up each month, starting from 0.05% p.a. to a maximum of 0.60% p.a., and will be applied to the S$70,000 of your balance.


https://www.citibank.com.sg/gcb/depo...gn-savacc.htm#
Think they have typo 0.1% not 0.01%
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Old 01-09-2020, 12:39 AM   #7713
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What's the start rate and max rate after 12m?
Start at 0.15%, max 0.7%. Quite pathetic
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Old 01-09-2020, 12:57 AM   #7714
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Start at 0.15%, max 0.7%. Quite pathetic
Might be useful for who still maintain counter 12 as higher than Maybank Isavvy last cycle rate. The page taken down. Don't even know whether will still have Maybank isavvy in Sep.
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Old 01-09-2020, 01:19 AM   #7715
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wah...people still putting hope on maxigain ? move on guys..
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Old 01-09-2020, 01:31 AM   #7716
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Start at 0.15%, max 0.7%. Quite pathetic
thanks bro for info.

Won't be climbing this ladder.
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Old 01-09-2020, 07:55 AM   #7717
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Start at 0.15%, max 0.7%. Quite pathetic
every where around the same. 0.X % differ. depending on where u put it...
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Old 02-09-2020, 01:10 AM   #7718
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For reference, based on my calculations, base interest paid out over the last two years has been approximately the following:

2020-08 0.124%
2020-07 0.125%
2020-06 0.125%
2020-05 0.188%
2020-04 0.455%
2020-03 0.606%
2020-02 0.841%
2020-01 0.858% // bonus interest reduced to 0.05% per counter
2019-12 0.885% // 50% of 1m SIBOR
2019-11 1.230% // 70% of 1m SIBOR
2019-10 1.298%
2019-09 1.312%
2019-08 1.315%
2019-07 1.318%
2019-06 1.319%
2019-05 1.302%
2019-04 1.279%
2019-03 1.289%
2019-02 1.260%
2019-01 1.242% // 70% of 1m SIBOR
2018-12 1.358% // 80% of 1m SIBOR
2018-11 1.296%
2018-10 1.213%
2018-09 1.210%
2018-08 1.219%
2018-07 1.200%
2018-06 1.138% // 80% of 1m SIBOR
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Old 02-09-2020, 06:34 PM   #7719
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Revision to the Citi MaxiGain Savings Account

With effect from 1 October 2020, please note that the following changes will apply to your Citi MaxiGain Account:

A base interest rate of 0.01% p.a. will be paid on the entire account balance. There is no minimum balance required to earn base interest.
Your balances capped at S$70,000 shall earn bonus interest at a rate that steps up each month, starting from 0.05% p.a. to a maximum of 0.60% p.a., and will be applied to the S$70,000 of your balance.


https://www.citibank.com.sg/gcb/depo...gn-savacc.htm#
Is this worse than previous revised?
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Old 02-09-2020, 06:57 PM   #7720
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actually it might sound like a good idea to climb the ladder again... back to 0.7% as we see the banks all dropping rates to all-time lows...

now maxigain > isavvy/eSaver… it all comes back to square one.
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Old 02-09-2020, 07:54 PM   #7721
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Revision to the Citi MaxiGain Savings Account

With effect from 1 October 2020, please note that the following changes will apply to your Citi MaxiGain Account:

A base interest rate of 0.01% p.a. will be paid on the entire account balance. There is no minimum balance required to earn base interest.
Your balances capped at S$70,000 shall earn bonus interest at a rate that steps up each month, starting from 0.05% p.a. to a maximum of 0.60% p.a., and will be applied to the S$70,000 of your balance.


https://www.citibank.com.sg/gcb/depo...gn-savacc.htm#
as good as worthless
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Old 02-09-2020, 09:02 PM   #7722
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With these changes, the interest rate is no longer tied to SIBOR.

Even normal DBS account will yield more at 0.05%.
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Old 02-09-2020, 09:13 PM   #7723
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With these changes, the interest rate is no longer tied to SIBOR.

Even normal DBS account will yield more at 0.05%.
Citibank typoed, should be 0.1%
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Old 02-09-2020, 09:29 PM   #7724
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actually it might sound like a good idea to climb the ladder again... back to 0.7% as we see the banks all dropping rates to all-time lows...

now maxigain > isavvy/eSaver… it all comes back to square one.
after all the tired climb, all you know they also nerf their interest rate further...

my advice, forget about this maxi gain..it's maxi waste of time..
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Old 02-09-2020, 10:19 PM   #7725
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Citibank typoed, should be 0.1%
I don't think it is a typo because the official letter stated as 0.01% too.
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