Citibank Maxigain Savings Account

[Shutterfly]

my mum still using this. I told her Robo has higher interest but she dun trust it. Still prefer putting her money in banks for the 75k coverage

Sent from Xiaomi REDMI NOTE 8 PRO using GAGT

She is right. Returns from robo are non-guaranteed and there is even a chance of a capital loss.

 

[vsvs24]

my mum still using this. I told her Robo has higher interest but she dun trust it. Still prefer putting her money in banks for the 75k coverage

Sent from Xiaomi REDMI NOTE 8 PRO using GAGT

Senior folks who are not IT savvy will be more comfortable with banks.

 

[PC-User]

I know but endowus, stashaway and other robo mmf account has no upper limit... even for a multi account user...

But there are also factors like convenience and risk lah.

 

[PC-User]

so how much savings and how much EIR are you getting now ? we can give you advise..

RHB of 0.8% already sweep citibank out of competition

Yeah, sweep...

 

[PC-User]

There is endowus and stashaway. Both easily more than 1%++... Singlife 2%...
Not sure what’s the point of this account.

I joined Singlife when interest was 2.5%. But now also dropped to 1.5% already.

 

[Perisher]

I joined Singlife when interest was 2.5%. But now also dropped to 1.5% already.

Ya lor, all dropping. Forcing all to invest.

 

[PC-User]

Ya lor, all dropping. Forcing all to invest.

Investment not guaranteed return. StashAway Simple also recently quite stagnant. Lucky I still have 0.61% on the other hand.

 

[Perisher]

Investment not guaranteed return. StashAway Simple also recently quite stagnant. Lucky I still have 0.61% on the other hand.

Erm, why not Singlife? 1% no?

 

[Squaredot]

Erm, why not Singlife? 1% no?

I'm a bit scare to put a lot inside Singlife

 

[yuzu28]

I'm a bit scare to put a lot inside Singlife

Same here... Dunno will toh or not. This kind dun have protection like banks 75,k right?

 

[PC-User]

Erm, why not Singlife? 1% no?

Already putted.

 

[PC-User]

Same here... Dunno will toh or not. This kind dun have protection like banks 75,k right?

Capital guaranteed mah no meh?

 

[Chaosphere]

Does anyone know is there a way to withdraw the interest earned without affecting the minimum balance for the month, that will cause the counter to be reset for the Citi MaxiGain Savings Account? Thanks in advance!

 

[Trazora]

just do a fast transfer out or cash withdrawal after interest is awarded, dun withdraw more than what is awarded.

 

[Chaosphere]

just do a fast transfer out or cash withdrawal after interest is awarded, dun withdraw more than what is awarded.

Thanks, looks like it's a very small window to withdraw the interest. My interest credit date and the lowest balance amount for the month date is back to back 1 day apart. Need to monitor the time interest is credited, hopefully it's not interest credited at 2359, then 0000 hrs calculate the lowest balance for the month.

 

[JetStorm]

Thanks, looks like it's a very small window to withdraw the interest. My interest credit date and the lowest balance amount for the month date is back to back 1 day apart. Need to monitor the time interest is credited, hopefully it's not interest credited at 2359, then 0000 hrs calculate the lowest balance for the month.

Huh, i tot interest is based on the lowest of previous month? If you withdraw ur interest on the last day of the month also no issue. Unless they changed the t&c

 

[Trazora]

Thanks, looks like it's a very small window to withdraw the interest. My interest credit date and the lowest balance amount for the month date is back to back 1 day apart. Need to monitor the time interest is credited, hopefully it's not interest credited at 2359, then 0000 hrs calculate the lowest balance for the month.

dun understand what u meant by interest credit date date and the lowest balance amount for the month date being 1 day apart. Assuming you dun do any withdrawal other than the interest, the days before the interest credited will have the lowest balance for the month. Any day in the calendar month after interest credited, you can withdraw the interest and it will be back at the lowest balance for the month before interest is credited.

 

[PC-User]

Short and simple, after getting your interest (usually is on the 1st), you can withdraw that amount within the same month. Do not drag over to another month.

 

[maumu]

this product still alive...? is it still need $70k in order to climb the steps every month..? :\

 

[demoforce1]

how much interest for the 12th step?