Citibank Maxigain Savings Account

Mad_Stranger

Member
Joined
Nov 20, 2011
Messages
215
Reaction score
0
Anyone created the account already? I created the account but from my internet banking, it shows a maxi-save rather than maxi-gain.

Anyone having this same problem?
 

battledome64

Master Member
Joined
Jul 31, 2003
Messages
2,549
Reaction score
21
Hey I went to open maxi gain and received email

"New to bank letter" does that mean I qualify for welcome gift?
 

icyflame

Master Member
Joined
Jan 1, 2000
Messages
3,179
Reaction score
52
Guys, how do you guys open a bank account for say 50k? Do I need to bring 50k cash? Any other options? Are cheques or Internet transfer after the account is opened considered for the $200 promotion?
 

ynnek

Master Member
Joined
Dec 24, 2000
Messages
4,072
Reaction score
0
hi
citibank force me to have the debit card when i only want the atm card.

fine.
i ask to adjust the credit limit or transaction limit for the debit card
i was denied and the cso claimed that its impossible to do any adjustment to the limit.

minimum is 2k.

even the deactivation of card usage applied only to credit card..

i am uncomfortable as the practice seemed inethical when banks are supposed to practice compliance & ethic .
any citibank gurus can advice if theres really no way to deactivate the debit card feature ? i jus want plain old atm card
 

Ap3s

Senior Member
Joined
Apr 23, 2002
Messages
923
Reaction score
0
went to the branch to apply and was given all the wrong info as such:

- base interest will be fixed according to the SIBOR at point of time when you open the account. subsequently, every year the base interest will change to the prevailing SIBOR at that time

- bonus interest counter will be reset to 0 after 1 year and restart the count

as if that fellow created his own product. he then clarified with his manager and admitted he was not familiar with the new product.

**as what the bros here suggested, checking the faq is your best bet!***

and will need to wait for 1 week for the account to be opened. was told it will be immediate if i'm a new customer. as i had citibank product before, it takes a week as they need to re-verify my particulars. really not sure whether to trust his words.
 
Last edited:

doody_

Supremacy Member
Joined
Nov 27, 2006
Messages
7,515
Reaction score
3
went to the branch to apply and was given all the wrong info

- base interest will be fixed according to the SIBOR at point of time when you open the account. subsequently, every year the base interest will change to the prevailing SIBOR at that time

- bonus interest counter will be reset to 1 after 1 year and restart the count

as if that fellow created his own product.

and will need to wait for 1 week for the account to be opened. was told it will be immediate if i'm a new customer. as i had citibank product before, it takes a week as they need to re-verify my particulars. really not sure whether to trust his words.

All the details on the maxigain account are available online, so I was zoning out when the person explained the product. For example, I was told if I don't increase the balance, I only get base interest, no bonus interest. Yet by reading the site, it's clear that maintaining the same balance will qualifies for base + bonus interest.

Anyway, for clarification:
#For illustration purposes, we have provided in this marketing material that the 1-month SIBOR is 1% p.a. therefore, the base interest rate set out in this marketing material is 0.8% p.a. based on the 1-month SIBOR of 1% p.a. The base interest rate will fluctuate daily in accordance with the movement of the 1-month SIBOR. The base interest rate will be paid on the first S$150,000 in the daily balance of your Citi MaxiGain Savings Account ("MaxiGain account"). You need to maintain a daily end of day balance of at least S$10,000 in your MaxiGain account to earn base interest.
 

chuanz

Master Member
Joined
Nov 18, 2007
Messages
4,812
Reaction score
0
I hate it when banks launch a product that their own front line personnel do not understand. So much confusion everywhere.
 

icyflame

Master Member
Joined
Jan 1, 2000
Messages
3,179
Reaction score
52
Guys, how do you guys open a bank account for say 50k? Do I need to bring 50k cash? Any other options? Are cheques or Internet transfer after the account is opened considered for the $200 promotion?

Anyone can help on this? Normally only a few k to open an account so I will just use cash. But I don't wanna be walking around with 50k cash
 

tmkedmw

Arch-Supremacy Member
Joined
Feb 16, 2013
Messages
10,212
Reaction score
1,227
Anyone can help on this? Normally only a few k to open an account so I will just use cash. But I don't wanna be walking around with 50k cash

If your $50k is with another bank, just ask for a cashier order payable to your name and bring this to deposit when you open an account.
 

icyflame

Master Member
Joined
Jan 1, 2000
Messages
3,179
Reaction score
52
If your $50k is with another bank, just ask for a cashier order payable to your name and bring this to deposit when you open an account.

Means I need to go to two banks. Thanks much for the advice
 

mikezuper

Arch-Supremacy Member
Joined
Apr 7, 2002
Messages
15,990
Reaction score
39
went to the branch to apply and was given all the wrong info

- base interest will be fixed according to the SIBOR at point of time when you open the account. subsequently, every year the base interest will change to the prevailing SIBOR at that time

- bonus interest counter will be reset to 1 after 1 year and restart the count

as if that fellow created his own product.

and will need to wait for 1 week for the account to be opened. was told it will be immediate if i'm a new customer. as i had citibank product before, it takes a week as they need to re-verify my particulars. really not sure whether to trust his words.
If the bonus interest reset after 1 year, I will take out all when it is being reset.
 

tmkedmw

Arch-Supremacy Member
Joined
Feb 16, 2013
Messages
10,212
Reaction score
1,227
Heard from my wife is 6mths... Not too sure is it this account or other account but she's interested in this account so should be

Do consider this,
If it is maxigain, base interest rate of 0.8*(1mth sibor) is payable for up to $150k. Any excess is at 0.05%.
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.
Top