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Citibank Maxigain Savings Account

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Old 09-09-2020, 07:04 AM   #7756
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How to close the account? The amount of interest from 1 oct is ridiculous.
Just closed mine recently. Sent initial request through secured mail no reply. Ended up their live chat is able to help me close the account.
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Old 09-09-2020, 08:29 AM   #7757
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CIMB Fastsaver's interest rate is tiered. It's only better if you have between SGD80k - SGD200k in the account; with any other amount, you would get less than 0.61% with FastSaver.
Can try RHB High Yield and Sing Investment Gosaver, CIMB Fastsaver is good only if you give referral, but is still a very good account to have as you can put $0 for a couple of months also no prob, fuss free
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Old 09-09-2020, 08:48 AM   #7758
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Download your estatement, it is written there

Is there a way to check which counter we are in now?
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Old 09-09-2020, 08:49 AM   #7759
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Is there a way to check which counter we are in now?
It is printed on your monthly statement.
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Old 09-09-2020, 08:54 AM   #7760
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CIMB Fastsaver's interest rate is tiered. It's only better if you have between SGD80k - SGD200k in the account; with any other amount, you would get less than 0.61% with FastSaver.
The difference is no longer much for up to 70k. Don't forget, for Maxigain, once your current month balance falls below previous month, your bonus interest will drop to either 0% or 0.3% (from 01-Oct).
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Old 09-09-2020, 01:42 PM   #7761
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just close the account sua lah. make the funds work harder elsewhere

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Move to Maybank fix deposit, 0.95% for 1 year.
This bank is basically asking customer to go away.

Last edited by cscs3; 10-09-2020 at 08:07 PM..
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Old 09-09-2020, 02:56 PM   #7762
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It is printed on your monthly statement.
Thanks. Just checked. I am on counter 9. Not sure if I should keep it.
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Old 09-09-2020, 07:07 PM   #7763
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Thanks. Just checked. I am on counter 9. Not sure if I should keep it.
if you have something else better, then you will not lose much in terms of counter to switch now.. can keep small amount and counter go back to 6 then climb again in case rates go back up..

all depends on what other options u still have
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Old 01-10-2020, 11:36 PM   #7764
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For reference, based on my calculations, base interest paid out over the last two years has been approximately the following:

2020-09 0.124%
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 14-10-2020, 07:19 AM   #7765
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Not aware of fall below fee of 70K. But agreed Maxigain is no longer a attractive product. Planned to close and move somewhere else.
. Yeah I just closed yesterday.
Moved the sum just before Oct. they are able to close for you over the phone. Even if u got max 0.61% is about $35 per month. Might as well put in other fixed deposit.
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Old 14-10-2020, 07:29 AM   #7766
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. Yeah I just closed yesterday.
Moved the sum just before Oct. they are able to close for you over the phone. Even if u got max 0.61% is about $35 per month. Might as well put in other fixed deposit.
a lot of fixed deposits rates now even lower than 0.6%?
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Old 02-11-2020, 01:03 AM   #7767
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For reference, based on my calculations, base interest paid out over the last two years has been approximately the following:

2020-10 0.01% // base interest rate reduced to 0.01%, bonus interest capped at $70k.
2020-09 0.124%
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 04-11-2020, 11:42 PM   #7768
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. Yeah I just closed yesterday.
Moved the sum just before Oct. they are able to close for you over the phone. Even if u got max 0.61% is about $35 per month. Might as well put in other fixed deposit.
alternative is uob stash for eir 0.58% if u prefer putting it in banks instead of insurance companies.

Citi is still better at 0.61% but have to wait for 6 months if u drop to counter 6.

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Old 29-11-2020, 05:44 PM   #7769
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Hi guys, I have a few questions regarding about opening of a new Citibank deposit account.

1) When opening a new Citibank Deposit account (new to bank customer), are you expected to fund the account immediately at the branch, or do they give you some leeway, like within 24 hours or 48 hours to put in the S$15,000 TRB?

2) If the Citibank deposit account is left at S$0, does it go negative for the S$15 monthly fall below fee? When you deposit money back, it immediately deducts the negative amount, or the bank cannot do anything and your account will always remain at $0?

2a) As for question 2 addition, what if the account balance is left less than S$15, but above S$0 (e.g. S$5), do they deduct $5 and go into negative, or does it become $0?

Thanks in advance, I don't want to create a new thread just for asking this question.
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Old 30-11-2020, 01:05 PM   #7770
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Hi guys, I have a few questions regarding about opening of a new Citibank deposit account.

1) When opening a new Citibank Deposit account (new to bank customer), are you expected to fund the account immediately at the branch, or do they give you some leeway, like within 24 hours or 48 hours to put in the S$15,000 TRB?

2) If the Citibank deposit account is left at S$0, does it go negative for the S$15 monthly fall below fee? When you deposit money back, it immediately deducts the negative amount, or the bank cannot do anything and your account will always remain at $0?

2a) As for question 2 addition, what if the account balance is left less than S$15, but above S$0 (e.g. S$5), do they deduct $5 and go into negative, or does it become $0?

Thanks in advance, I don't want to create a new thread just for asking this question.
I remember I used cross cheque when opening the account few years back. Guess they also takes a few days to open your account.
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