Citi MaxiGain Savings Account
- Get the most out of your spend, protect your loved ones and grow your wealth. Plus, earn up to 2.5% p.a. more on your savings.
- Complimentary cash withdrawals from Citibank ATMs overseas (with no processing fee), instant fund transfers and more.
- Have a Personal Banker take care of your financial needs when you have balances above S$50,000.
Earn Base Interest:
- 80% of the 1-month Singapore Dollar Interbank Offer Rate (1-month SIBOR)
Earn Bonus Interest:
- Bonus interest rate that steps up each month
- Starting from 0.1% p.a. to a maximum of 1.2% p.a.
- Minimum initial deposit of S$10,000 from account opening.
|Online Banking||Yes||Transfer funds online or between accounts|
|Phone Banking||Yes||CitiPhone Banking and Automated Voice Response|
|International ATM card||Yes||Free international ATM card with access to over 1.4 million Visa PLUS ATMS globally|
1-Month SGD SIBOR Rate (% p.a.)
- '1-Month SGD SIBOR Rate' refers to the previous Business Day's 1-Month SGD SIBOR Rate.
- The historical moving SIBOR rates are provided for illustration purposes only. Please refer to the Terms and Conditions for more information.
From now till 31 December 2016, receive S$200 when you establish a Citi Priority relationship.
Click here for promotion terms and conditions
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You will earn base interest and bonus interest on your Citi MaxiGain Savings Account ("MaxiGain account") if certain criteria are met.
The Bank shall pay you a base interest rate ("Base Interest Rate") at 80% 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% p.a., the Base Interest Rate shall be 0.8% p.a.
The 1 month SIBOR for December 2015 was 0.972% 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.
Your account balance 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. A bonus counter ("Counter") is a numerical representation of your "bonus level" on the MaxiGain account. The Counter ranges from "0" to "12", representing the corresponding Bonus Interest Rate from 0.00% p.a. to 1.20% p.a.
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|
|Number of days in month||28||31||30|
|Bonus Interest Rate||0||0.10% p.a.||0.20% p.a.|
|Bonus interest||N.A||S$30,000 x 0.10% x 28/365 = S$2.30||$40,000 x 0.20% x 31/365 = $6.79|
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 4 to Day 31||S$15,000||S$15,000|
|Lowest Balance for the month||S$0||S$10,000|
Yes, the Base Interest Rate applies if your MaxiGain account has a minimum balance of S$10,000. In other words, base interest accrues on a day where the account balance for that day is at least S$10,000. Conversely, no base interest shall accrue on a day where the account balance for that day falls below S$10,000.
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|
|S$0 to S$150,000||80% of 1 month SIBOR||Up to 1.20% p.a., depending on the Counter|
|Above S$150,000||0.05% p.a.|
|Conditions||Only applicable if the daily account balance is at least S$10,000||
No minimum or maximum balance requirement for bonus interest
Counter must be higher than zero
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|
You will receive your base interest on the last day of a month, starting as early as 29 February 2016, for so long as you meet the minimum balance of S$10,000. You will receive your bonus interest on the last day of March 2016, provided the lowest balance in March 2016 is equal to or greater than the lowest balance in February 2016.
Terms & Conditions:Terms & Conditions:
#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.
^You 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.
*By fulfilling the necessary conditions, you can achieve 2% interest p.a. (0.8%# base + 1.2% p.a. bonus) from the 13th month onwards. For clarity, the 0.8%# 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.
1First cheque book issued upon account opening is free. Thereafter, issuance of each subsequent cheque book is charged at S$15.
Deposit Insurance Scheme:
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 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 refer to SDIC's website at www.sdic.org.sg.
Citibank full disclaimers, terms and conditions apply to individual products and banking services.