Citibank Maxigain Savings Account

emo3lmo

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You lose 0.3% is small thing for you, but you lost 6 counters or 6 months of counter is bigger. IMO time is money.

1 counter worth 0.05% now.. 6 counter is equivalent to 0.3% :s22:
i am already at 12 counter.. planning to move some fund to HSBC EGA account
 

LexusIS

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under the new terms, maxigain only lose 0.3% if you withdraw..
still got 1.1-1.2% for that month of withdrawal

Other turn off factors:
- high minimum balance of $70k to get 1.5%
- lagged period of 1 month for the bonus
- computed base on the lowest balance of the month (not average balance)

Too many restrictions for 1.5%.
 

heroking

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if those self employed then is there a way to sign up with those deposit that require salary credit?
 

Jorgensen

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actually which savings accounts suitable for you depends on how your salary credited and what's your habit etc. for me i jump from citibank maxigain to maybank isavvy/isavvy-i

pros of citibank maxigain:
1. decent interest rate at 1.4-1.5% (assuming you have max counter)
2. does not require salary credit (for me my salary is through cheque so used to be great for me)
3. does not need any spending (so I can save as much as I could without having to get the higher interest rates)

cons of citibank maxigain:
1. take 12 months to get max counter (so with the change of TOC, unless you are at counter 10-12 I don't feel worth it to continue)
2. cannot withdraw more than interest rates or else counter drop
3. depends on sibor rate, and on current market is dropping

pros of maybank isavvy/isavvy-i:
1. 1.9% savings accounts for 2 months (more than almost all fixed deposit but still can withdraw)
2. can continue get good interest rate with merry go round, rates better than scb esaver (tiered) and more easier to understand than hsbc ega

cons of isavvy/isavvy-i:
1. every 2 months need take 15 mins to merry go round
2. need to physically go to maybank to open isavvy-i

From my scenario i chose isavvy/isavvy-i after maxigain changed TOC because of flexible, good interest rates and can withdraw. It is not as confusing as hsbc ega musical chair and not as tiered as scb esaver. (less float too as esaver needs $1K minimum when merry go round while isavvy/isavvy-i just needs $500). furthermore it does not need to credit any salary, spend any minimum sum or do giro or use credit card.

Very good summary :s12:
What does it mean by "every 2 months need take 15 mins to merry go round" for isavvy/isavvy-i? Will doing this ensure you have the 1.9% rate consistently?
 

lowveld

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Very good summary :s12:
What does it mean by "every 2 months need take 15 mins to merry go round" for isavvy/isavvy-i? Will doing this ensure you have the 1.9% rate consistently?

Yes would like to know more about the 2 months merry go round too. TIA!
 

mdax23

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Very good summary :s12:
What does it mean by "every 2 months need take 15 mins to merry go round" for isavvy/isavvy-i? Will doing this ensure you have the 1.9% rate consistently?

Why 15 mins? If you are on 4g, less than 5 mins can already
 

vsvs24

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if those self employed then is there a way to sign up with those deposit that require salary credit?

UOB One bank account. 2.43% if have 75k (lower if have less than 75k as interest is tiered). Just spend min $500 on UOB One credit card per mth and have 3 GIRO.
 

Tornesoul

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Best to close on day 1? Can fast out the money then close online through secured msging?

Nd go branch?

Sent from Xiaomi REDMI NOTE 6 PRO using GAGT
 

testingabc

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Very good summary :s12:
What does it mean by "every 2 months need take 15 mins to merry go round" for isavvy/isavvy-i? Will doing this ensure you have the 1.9% rate consistently?

Thank you. Every 2 months will release the new interest rates. For me, the 15 mins is from my Maybank isavvy to POSB to Maybank isavvy-I account. Getting 1.9% or not depends, have to check the Maybank isavvy page, sometimes more sometimes less, but so far Maybank as a saving account gives the best interest rates with good liquidity as I can withdraw.
 

testingabc

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Yes would like to know more about the 2 months merry go round too. TIA!

Basically for my side, on the first day of new cycle I transfer from Maybank isavvy to POSB to Maybank isavvy-i. Next cycle is Maybank isavvy-I to POSB to Maybank isavvy. :)
 

testingabc

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Why 15 mins? If you are on 4g, less than 5 mins can already

I’m more of a negative person, so I put 15mins. Yes definitely can be much faster depends on what’s your middle bank and how your OTP is set up.
 

testingabc

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Best to close on day 1? Can fast out the money then close online through secured msging?

Nd go branch?

Sent from Xiaomi REDMI NOTE 6 PRO using GAGT

Yes for me I zero out on the 1st Dec once I get both interest and close it through the private messaging. You need not go to any Citibank branch.
 

dude123

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Moved my funds to isavvy for 1.9% and also ocbc new funds promo ($85 voucher per $10,000 locked in for 6 months, effectively 1.7%).

Kept $15,000 in maxigain for counter to move up as a backup.

What is the interest rate for ocbc new fund promo to get ntuc voucher ?
 

DenOOO

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What is the interest rate for ocbc new fund promo to get ntuc voucher ?

base interest itself is low as hell, only benefits are the vouchers.

Vouchers converted into interest rate is about 1.7%, locked in for 6 months.
 

testingabc

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base interest itself is low as hell, only benefits are the vouchers.

Vouchers converted into interest rate is about 1.7%, locked in for 6 months.

would prefer cash imo, so put most of my funds to maybank isavvy
 
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