I am interested to start a Citi Priority relationship
Citi Priority is a banking relationship specially designed for individuals with minimum investible assets of S$70,000
Your personal particulars
- Welcome Offer
- Up to 2.2%* p.a. interest
- S$1,6001 cash reward
- Benefits
- FAQs
Enjoy up to 2.2%* p.a. interest rate OR S$1,6001 cash reward when you start a Citi Priority relationship with fresh funds of S$70,000.
Option 1:
Get up to 2.2%* p.a. or S$1,223* in interest in a year with Citi MaxiGain Savings Account.
OR
Option 2:
Get S$1,6001
cash reward.
Terms and Conditions apply
*For more information on Citi MaxiGain Savings Account, click here
1For more information on Citi Priority Welcome Programme 2019, click here
Deposit Insurance Scheme:
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. For more information, please visit www.sdic.org.sg.
The products and services mentioned in this document are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey , Jersey, Monaco, San Marino, Vatican, and The Isle of Man. This webpage is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
With effect from 2 December 2019, please note that the following changes will apply to the MaxiGain Account:
- A base interest rate equivalent to 50% of the 1-month Singapore Interbank Offer rate will be paid on the first S$150,000 of your MaxiGain Account.
- The bonus interest rate will step up each month starting from 0.05% p.a. to a maximum of 0.60% p.a.
Get up to 2.2%* p.a. on your savings with Citi MaxiGain Savings Account. With an AUM of S$70,000, you can earn up to S$1,223* in interest within a year.
Base Interest
1% # p.a.
- 70%# of the 1-month SIBOR (Singapore Interbank Offer Rate)
- Payable with minimum S$70,000 daily end of day balance
Bonus Interest
1.2% ^ p.a.
- Bonus interest rate that steps up monthly
- Starting from 0.1%^ p.a. to a maximum of 1.2%^ p.a
Total Interest
2.2% * p.a.
How the interest rates add up:
Base Rate# (p.a.)
Bonus Rate^ (p.a.)
Total Interest Rate* (p.a.)
1%#
Counter 1
0.1%
Counter 2
0.2%
Counter 3
0.3%
to
Counter 11
1.1%
Counter 12
1.2%
1.1%
1.2%
1.3%
to
2.1%
2.2%
Click here for the full terms and conditions.
#For illustration purposes, we have provided in this marketing material that the 1-month SIBOR is 1.43% p.a. therefore, the base interest rate set out in this marketing material is 1% p.a. based on the 1-month SIBOR of 1.43% 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$70,000 in your MaxiGain account to earn base interest.
^Your balances capped at S$150,000 shall accrue bonus interest at a rate ("Bonus Interest Rate") that steps up each month, from 0.1% p.a. to a maximum of 1.2% p.a., calculated based on your lowest balance in the previous month, if the lowest balance in your MaxiGain account in a month is equal to or greater than the lowest balance in the previous month. The lowest amount of funds in your MaxiGain account at any point in time in a month shall be the "lowest balance" of that month. The "Counter" increases by 1 each time the Bonus Interest Rate steps up. No minimum balance is required in your MaxiGain account to earn bonus interest.
*By fulfilling the necessary conditions, you can achieve 2.2% interest p.a. (1%# base + 1.2% p.a. bonus) from the 13th month onwards. For clarity, the 1%# interest p.a. is applicable on the daily balance and 1.2% interest p.a. is applicable on the lowest balance in the previous month provided the necessary conditions are fulfilled.
The products and services mentioned in this document are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey , Jersey, Monaco, San Marino, Vatican, and The Isle of Man. This webpage is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.
Deposit Insurance Scheme:
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. For more information, please visit www.sdic.org.sg.
Citibank full disclaimers, terms and conditions apply to individual products and banking services.
Receive up to S$1,6001 or 2 economy class return tickets to the Maldives1 when you start a Citi Priority relationship today
Start with minimum investible assets of S$100,000 and be rewarded with additional cash when you invest or insure with us.
| Deposits S$100,000 fresh funds | S$300 | 20,000 miles | |
| Purchases S$100,000 in Unit Trusts / Life Insurance in first 6 months | S$900 | 60,000 miles | |
| Card Bundle Base Reward | S$100 | 6,800 miles | |
| Card Bundle I&I Reward | S$100 | 6,800 miles | |
| Credits salary, GIRO personal income tax or Telco bill monthly with Citi and maintains a balance of S$70,000 till Month 6 | S$200 | S$200 | |
| Total Cash | S$1,600 | S$200 | |
| Total Citi Miles | 93,600 miles | ||
| 2 Economy Class Return tickets to the Maldives | |||
Terms and Conditions
1With S$100,000 of New Funds, purchases S$100,000 eligible investment or insurance products within 6 months of account opening, credits monthly salary/ pays telco bill/ pays income tax, maintains Citi Priority relationship and AUM for 6 months and is an existing/ new primary Citi Credit Card holder. Balances in MaxiGain Savings Account do not count towards calculation of Welcome Rewards.
The 2 economy class return Maldives tickets is calculated as an accumulation of miles over a 8-month period and can only be claimed after that time period. Miles illustrated above are an estimate. Actual number of miles may differ at time of redemption at the discretion of the respective Frequent Flyer Programmes.
For full terms and conditions, click here.
The products and services mentioned in this document are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey , Jersey, Monaco, San Marino, Vatican, and The Isle of Man. This webpage is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
Simple banking
Instant payments & transfers and real-time balance updates with Citi Mobile® app
Wealth creation
Priority banking wealth packages with preferential rates and personalised services
Smart investments
Bite-sized tips on financial planning and digital investment solutions that are time and fee-saving
Global banking benefits
Free Citibank Global Transfer and ATM withdrawals at Citibank ATMs worldwide
Exclusive privileges
Year-round Citi Priority Delights offers and lifestyle privileges with privileges with Citi Priority Debit Mastercard®
The products and services mentioned in this document are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey , Jersey, Monaco, San Marino, Vatican, and The Isle of Man. This webpage is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.
Citi MaxiGain Savings Account
What interest will I earn on the Citi MaxiGain Savings Account?
- You will earn base interest and bonus interest on your Citi MaxiGain Savings Account ("MaxiGain account") if certain criteria are met.
How is base interest calculated?
- The Bank shall pay you a base interest rate ("Base Interest Rate") at 70% of the 1 month Singapore Dollar Singapore Interbank Offer Rate ("1 month SIBOR") on your daily balance, up to the first S$150,000 in your MaxiGain account. For example, if 1 month SIBOR is 1.43% p.a., the Base Interest Rate shall be 1% p.a.
- The 1 month SIBOR for 16 October 2018 was 1.5164% p.a. for your reference. If the 1 month SIBOR is 0% p.a. or lower, the Base Interest Rate shall be zero.
- A Base Interest Rate of 0.05% p.a. shall apply to balances in your MaxiGain account in excess of S$150,000.
- You need to maintain a daily end of day balance of at least $70,000 in your MaxiGain account to earn interest. Interest at the Base Interest Rate will accrue daily, if you maintain at least S$70,000 in your MaxiGain account, based on the daily end of day balance and will be paid on the last day of the month.
How is bonus interest calculated?
- Your balances capped at S$150,000 shall accrue bonus interest at a rate ("Bonus Interest Rate") that steps up each month, from 0.10% p.a. to a maximum of 1.20% p.a., if the lowest balance in your MaxiGain account in a month is equal to or greater than the lowest balance in the previous month.
- The Counter increases by 1 each time the Bonus Interest Rate steps up. The Bonus Interest Rate steps up in a month if the lowest balance in that month is equal to or greater than the lowest balance in the preceding month. Bonus interest is computed based on the preceding month's lowest balance and number of calendar days in the preceding month. The lowest amount of funds in your MaxiGain account at any point in time in a month shall be the "lowest balance" of that month.
- Please see the table below for illustration:
Month 1 Month 2 Month 3 Lowest Balance S$30,000 S$200,000 S$50,000 Number of days in month 28 31 30 Counter 1 2 Bonus Interest Rate 0.10% p.a. 0.20% p.a. Bonus interest N.A S$30,000 x 0.10% x 28/365 = S$2.30 S$150,000 x 0.2% x 31/365 = S$25.48 Month 1
Lowest Balance
S$30,000
Number of days in month
28
Counter
N.A
Bonus Interest Rate
N.A
Bonus interest
N.A
Month 2
Lowest Balance
S$200,000
Number of days in month
31
Counter
1
Bonus Interest Rate
0.10% p.a.
Bonus interest
S$30,000 x 0.10% x 28/365 = S$2.30
Month 3
Lowest Balance
S$50,000
Number of days in month
30
Counter
2
Bonus Interest Rate
0.20% p.a.
Bonus interest
S$150,000 x 0.2% x 31/365 = S$25.48
How is the lowest balance of account opening month determined?
The lowest balance of that month will be the lowest amount of funds in your MaxiGain account at any point in time in the month (which includes the first day on which your MaxiGain account is opened). The lowest balance for the first month will be zero if the MaxiGain account is not funded on the day it is opened.
| Scenario 1 | Scenario 2 | ||||
| End Day Balance | End Day Balance | ||||
| Account Opening Day
(Day 1) |
S$0 | S$10,000 | |||
| Day 2 | S$10,000 | S$10,000 | |||
| Day 3 | S$12,000 | S$10,000 | |||
| Day 4 to Day 31 | S$15,000 | S$15,000 | |||
| Lowest Balance for the month | S$0 | S$10,000 | |||
|
Scenario 1 End Day Balance |
Account Opening Day (Day 1) S$0 |
Day 2 S$10,000 |
Day 3 S$12,000 |
Day 4 to Day 31 S$15,000 |
Lowest Balance for the month S$0 |
|
Scenario 2 End Day Balance |
Account Opening Day (Day 1) S$10,000 |
Day 2 S$10,000 |
Day 3 S$10,000 |
Day 4 to Day 31 S$15,000 |
Lowest Balance for the month S$10,000 |
Are there requirements for interests to be earned?
- Yes, the Base Interest Rate applies if your MaxiGain account has a minimum balance of S$70,000. In other words, base interest accrues on a day where the account balance for that day is at least S$70,000. Conversely, no base interest shall accrue on a day where the account balance for that day falls below S$70,000
- The Bonus Interest Rate on the other hand has no requirement of a minimum balance . Bonus interest will accrue in a month at the relevant Bonus Interest Rate for so long as the Counter for that month is higher than zero.
MaxiGain Account Balance Base Interest Bonus Interest First S$150,000* 70% of 1-month SIBOR Up to 1.20% p.a. depending on the Counter Above S$150,000 0.05% p.a. N.A. Conditions *Only applicable if the daily account balance is at least S$70,000 Lowest balance in the interest payment month must be equal to or greater than the lowest balance in the previous month
Counter must be higher than zeroBase Interest
MaxiGain Account Balance
First S$150,000*
70% of 1-month SIBOR
MaxiGain Account Balance
Above S$150,000
0.05% p.a.
Conditions
*Only applicable if the daily account balance is at least S$70,000
Bonus Interest
MaxiGain Account Balance
First S$150,000*
Up to 1.20% p.a. depending on the Counter
MaxiGain Account Balance
Above S$150,000
N.A.
Conditions
Lowest balance in the interest payment month must be equal to or greater than the lowest balance in the previous month
Counter must be higher than zero
What happens if my lowest balance this month is lower than the lowest balance in the previous month?
- If your lowest balance in the current month is lower than the lowest balance in the preceding month, the Counter will reset as follows:
Counter in the Preceding Month Counter in the Current Month 0-5 0 6-12 6
When will I receive my base and bonus interest if I meet the requirements?
- You will receive your base interest on the last day of a month, starting as early as 31 January 2019, for so long as you meet the minimum balance of S$70,000. You will receive your bonus interest on the last day of February 2019, provided the lowest balance in February 2019 is equal to or greater than the lowest balance in January 2019.
Where can I find the latest SIBOR rates?
- You can visit the website: http://www.abs.org.sg/rates_sibor.php for updated SIBOR rates.
What bonus interest do I get if account is funded on the day it is opened?
- Refer to below illustration.
Account Opening day After Account Opening day End of month 0 End of month 1 End of month 2 Date 18th February 2019
Funds Deposited
19th February 2019
Number of days in the month
28th February 2019
Bonus Counter
31st March 2019
Bonus Interest
30th April 2019
Funds Deposited S$70,000 NA NA NA NA Lowest Balance in the month S$70,000 S$70,000 S$70,001.92 Number of days in the month 10 (18th Feb to 28th Feb 31 30 Bonus Counter 0 1 2 Bonus Interest Bonus Counter is 0, no bonus interest Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,000 * 0.1%p.a. * (10/365) = S$1.92 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,000 * 0.2%p.a. * (31/365) = S$11.89 Account Opening day
Date
18th February 2019
Funds Deposited
S$70,000
Lowest Balance in the month
NA
Number of days in the month
NA
Bonus Counter
NA
Bonus Interest
NA
After Account Opening day
Date
19th February 2019
Funds Deposited
NA
Lowest Balance in the month
NA
Number of days in the month
NA
Bonus Counter
NA
Bonus Interest
NA
End of month 0
Date
28th February 2019
Funds Deposited
NA
Lowest Balance in the month
S$70,000
Number of days in the month
10 (18th Feb to 28th Feb
Bonus Counter
0
Bonus Interest
Bonus Counter is 0, no bonus interest
End of month 1
Date
31st March 2019
Funds Deposited
NA
Lowest Balance in the month
S$70,000
Number of days in the month
31
Bonus Counter
1
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,000 * 0.1%p.a. * (10/365) = S$1.92
End of month 2
Date
30th April 2019
Funds Deposited
NA
Lowest Balance in the month
S$70,001.92
Number of days in the month
30
Bonus Counter
2
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,000 * 0.2%p.a. * (31/365) = S$11.89
What bonus interest do I get if Account is not funded immediately?
- Bonus interest for Month 1 will be affected; no effect on the other months.
Account Opening day After Account Opening day End of month 0 End of month 1 End of month 2 Date 18th February 2019 19th February 2019 28th February 2019 31st March 2019 30th April 2019 Funds Deposited $0 $70,000 NA NA NA Lowest Balance in the month S$0 S$70,000 S$70,000 Number of days in the month 10 (18th Feb to 28th Feb 31 30 Bonus Counter 0 1 2 Bonus Interest Bonus Counter is 0, no bonus interest. Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$0 * 0.1%p.a. * (10/365) = S$0 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,000 * 0.2%p.a. * (31/365) = S$11.89 Account Opening day
Date
18th February 2019
Funds Deposited
$0
Lowest Balance in the month
NA
Number of days in the month
NA
Bonus Counter
NA
Bonus Interest
NA
After Account Opening day
Date
19th February 2019
Funds Deposited
$70,000
Lowest Balance in the month
NA
Number of days in the month
NA
Bonus Counter
NA
Bonus Interest
NA
End of month 0
Date
28th February 2019
Funds Deposited
NA
Lowest Balance in the month
S$70,000
Number of days in the month
10 (18th Feb to 28th Feb
Bonus Counter
0
Bonus Interest
Bonus Counter is 0, no bonus interest.
End of month 1
Date
31st March 2019
Funds Deposited
NA
Lowest Balance in the month
S$70,000
Number of days in the month
31
Bonus Counter
1
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$0 * 0.1%p.a. * (10/365) = S$0
End of month 2
Date
30th April 2019
Funds Deposited
NA
Lowest Balance in the month
S$70,000
Number of days in the month
30
Bonus Counter
2
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,000 * 0.2%p.a. * (31/365) = S$11.89
What happens when lowest account balance remains the same or increases the following month?
- Bonus counter increases.
End of month 0 End of month 1 End of month 2 End of month 3 Date 28th February 2019 31st March 2019 30th April 2019 31st May 2019 Lowest Balance in the month S$70,000 S$70,053.70 S$70,118.57 S$70,188.10 Number of days in the month 28 31 30 31 Base Interest rate (assuming Sibor rate = 1.43% p.a.) 1% p.a. 1% p.a. 1% p.a. 1% p.a. Base Interest accorded at month end S$70,000 * 1% * (28/365) = S$53.70 S$70,053.70 * 1% * (31/365) = S$59.50 S$70,118.57 * 1% * (31/365) = S$57.63 S$70,188.10 * 1% * (31/365) = S$59.61 Bonus Counter 0 1 2 3 Bonus Interest Bonus Counter is 0, no bonus interest. Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,000 * 0.1% p.a. * (28/365) = S$5.37 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,053.70 * 0.1% p.a. * (31/365) = S$11.90 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,118.57 * 0.1% p.a. * (30/365) = S$17.29 End of month 0
Date
28th February 2019
Lowest Balance in the month
S$70,000
Number of days in the month
28
Base Interest rate (assuming Sibor rate = 1.43% p.a.)
1% p.a.
Base Interest accorded at month end
S$70,000 * 1% * (28/365) = S$53.70
Bonus Counter
0
Bonus Interest
Bonus Counter is 0, no bonus interest.
End of month 1
Date
31st March 2019
Lowest Balance in the month
S$70,053.70
Number of days in the month
31
Base Interest rate (assuming Sibor rate = 1.43% p.a.)
1% p.a.
Base Interest accorded at month end
S$70,053.70 * 1% * (31/365) = S$59.50
Bonus Counter
1
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,000 * 0.1% p.a. * (28/365) = S$5.37
End of month 2
Date
30th April 2019
Lowest Balance in the month
S$70,118.57
Number of days in the month
30
Base Interest rate (assuming Sibor rate = 1.43% p.a.)
1% p.a.
Base Interest accorded at month end
S$70,118.57 * 1% * (31/365) = S$57.63
Bonus Counter
2
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,053.70 * 0.1% p.a. * (31/365) = S$11.90
End of month 3
Date
31st May 2019
Lowest Balance in the month
S$70,188.10
Number of days in the month
31
Base Interest rate (assuming Sibor rate = 1.43% p.a.)
1% p.a.
Base Interest accorded at month end
S$70,188.10 * 1% * (31/365) = S$59.61
Bonus Counter
3
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,118.57 * 0.1% p.a. * (30/365) = S$17.29
What happens when lowest account balance decreases before Account has reached Bonus counter 6?
- Bonus counter drops to 0.
End of month 3 End of month 4 End of month 5 End of month 6 Date 28th February 2019 31st March 2019 30th April 2019 31st May 2019 Lowest Balance in the month S$75,000 S$75,075.37 S$30,000 S$20,000 Number of days in the month 28 31 30 31 Base Interest rate (assuming Sibor rate = 1.43% p.a.) 1% p.a 1% p.a 1% p.a 1% p.a Base Interest accorded at month end S$75,000 * 1% * (28/365) = S$57.53 S$75,075.37 * 1% * (31/365) = S$63.76 N.A. must maintain min balance of $70k to earn base interest. N.A. must maintain min balance of $70k to earn base interest. Bonus Counter 3 4 0 0 Bonus Interest Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,000 * 0.3% p.a. * (31/365) = S$17.84 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$75,000 * 0.4% p.a. * (28/365) = S$23.01 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = NA, as lowest balance has dropped Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = NA, as lowest balance has dropped End of month 3
Date
28th February 2019
Lowest Balance in the month
S$75,000
Number of days in the month
28
Base Interest rate (assuming Sibor rate = 1.43% p.a.)
1% p.a.
Base Interest accorded at month end
S$75,000 * 1% * (28/365) = S$57.53
Bonus Counter
3
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,000 * 0.3% p.a. * (31/365) = S$17.84
End of month 4
Date
31st March 2019
Lowest Balance in the month
S$75,075.37
Number of days in the month
31
Base Interest rate (assuming Sibor rate = 1.43% p.a.)
1% p.a.
Base Interest accorded at month end
S$75,075.37 * 1% * (31/365) = S$63.76
Bonus Counter
4
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$75,000 * 0.4% p.a. * (28/365) = S$23.01
End of month 5
Date
30st April 2019
Lowest Balance in the month
S$30,000
Number of days in the month
30
Base Interest rate (assuming Sibor rate = 1.43% p.a.)
1% p.a.
Base Interest accorded at month end
N.A. must maintain min balance of $70k to earn base interest.
Bonus Counter
0
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = NA, as lowest balance has dropped
End of month 6
Date
31st May 2019
Lowest Balance in the month
S$20,000
Number of days in the month
31
Base Interest rate (assuming Sibor rate = 1.43% p.a.)
1% p.a.
Base Interest accorded at month end
N.A. must maintain min balance of $70k to earn base interest.
Bonus Counter
0
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = NA, as lowest balance has dropped
What happens when lowest balance decreases after Account has reached Bonus counter 6 and above?
- Bonus counter drops to 6, safety net in place.
End of month 5 End of month 6 End of month 7 End of month 8 Date 28th February 2019 31st March 2019 30th April 2019 31st May 2019 Lowest Balance in the month S$150,000 S$200,157.53 S$120,000 S$100,000 Number of days in the month 28 31 30 31 Base Interest rate (assuming Sibor rate = 1.43% p.a.) 1% p.a. 1% p.a. 1% p.a. 1% p.a. Base Interest accorded at month end S$150,000 * 1% * (28/365) = S$115.07 S$150,000 * 1% * (31/365) = S$127.40 S$50,157.53 * 0.05% * (31/365) = S$2.13 S$120,000 * 1% * (30/365) = S$98.63 S$100,000 * 1% *(31/365) = S$84.93 Bonus Counter 5 6 6 6 Bonus Interest Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$100,000 * 0.5% p.a. * (31/365) = S$42.47 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$150,000 * 0.6% p.a. *(28/365) = S$69.04 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$150,000 * 0.6% p.a. * (31/365) = S$76.44 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$120,000 * 0.6% p.a. * (30/365) = S$59.18 End of month 5
Date
28th February 2019
Lowest Balance in the month
S$150,000
Number of days in the month
28
Base Interest rate (assuming Sibor rate = 1.43% p.a.)
1% p.a.
Base Interest accorded at month end
S$150,000 * 1% * (28/365) = S$115.07
Bonus Counter
5
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$100,000 * 0.5% p.a. * (31/365) = S$42.47
End of month 4
Date
31st March 2019
Lowest Balance in the month
S$200,157.53
Number of days in the month
31
Base Interest rate (assuming Sibor rate = 1.43% p.a.)
1% p.a.
Base Interest accorded at month end
S$150,000 * 1% * (31/365) = S$127.40 S$50,157.53 * 0.05% * (31/365) = S$2.13
Bonus Counter
6
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$150,000 * 0.6% p.a. *(28/365) = S$69.04
End of month 7
Date
30th April 2019
Lowest Balance in the month
S$120,000
Number of days in the month
30
Base Interest rate (assuming Sibor rate = 1.43% p.a.)
1% p.a.
Base Interest accorded at month end
S$120,000 * 1% * (30/365) = S$98.63
Bonus Counter
6
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$150,000 * 0.6% p.a. * (31/365) = S$76.44
End of month 8
Date
31st May 2019
Lowest Balance in the month
S$100,000
Number of days in the month
31
Base Interest rate (assuming Sibor rate = 1.43% p.a.)
1% p.a.
Base Interest accorded at month end
S$100,000 * 1% *(31/365) = S$84.93
Bonus Counter
6
Bonus Interest
Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$120,000 * 0.6% p.a. * (30/365) = S$59.18
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