CITI MAXIGAIN SAVINGS ACCOUNT

Get 2%^* p.a. on your savings and start a Citi Priority relationship with S$70,000.

Citi MaxiGain Savings Account

GET 2% P.A. IN INTEREST

Important Announcement

With effect from 2 January 2019, please note that the following changes will be made to your Citi MaxiGain Savings Account.

A base interest rate equivalent to 70% of the 1-month Singapore Interbank Offer Rate will be paid on the first S$150,000 of your MaxiGain account
A daily end of day balance of at least S$70,000 must be maintained to earn base interest
Bonus interest rate will be paid on the first S$150,000 of your MaxiGain account

Please click for the revised Terms and Conditions and FAQ.

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.

As a Citi Priority Client, you will enjoy:

Personalised access and services
Invest on the go through Citibank Online and Citi Mobile® App
Smart Tips on financial solutions
Suite of global banking and lifestyle privileges and more

Click here to find out more

Eligibility for Citi Priority:

Minimum initial deposit of S$70,000 into Citi MaxiGain Savings Account to qualify for Citi Priority.

FAQs

Click on to expand and on to minimise the details.

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 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.

How is bonus interest calculated?

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
Lowest Balance	S$30,000	S$40,000	S$50,000
Number of days in month	28	31	30
Counter	0	1	2
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

Are there requirements for interests to be earned?

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.	Up to 1.20% p.a., depending on the Counter
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

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 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.

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.

I am interested to open a Citi MaxiGain Savings Account

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Terms & conditions:Terms & conditions:

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% 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 visit www.sdic.org.sg.

Citibank full disclaimers, terms and conditions apply to individual products and banking services.

The products and services mentioned above are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey and Jersey. 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 Interest Calculator

(adjust the sliders below to see your interest earned)

Opening Deposit Amount
(In denominations of $10,000)

$10,000

Savings Per Month
(In denominations of $100)

1-Month SGD SIBOR Rate

$10,000

Total Deposit
After a Year

$152.38

Total Interest Earned
After a Year

$10,232.67

Closing Balance
After a Year

MONTHLY CUMULATIVE INTEREST

0.8%

0.9%

0.1%

0.8%

1.0%

0.2%

0.8%

1.1%

0.3%

0.8%

1.2%

0.4%

0.8%

1.3%

0.5%

0.8%

1.4%

0.6%

0.8%

1.5%

0.7%

0.8%

1.6%

0.8%

1.7%

0.9%

0.8%

1.8%

1.0%

0.8%

1.9%

1.1%

0.8%

2.0%

1.2%

0.8%

MONTHS

BASE INTEREST
BONUS INTEREST

Notes:

Base interest is calculated on the assumption that the 1-Month SGD SIBOR rate remains the same throughout the year.
The calculations assume that there is no withdrawal within the 12-month period and that regular savings are credited on the first day of each month.
Interest rates for base interest and bonus interest are derived dividing annual interest by 12.
For the purposes of this illustration, interest rates displayed are rounded up to 2 decimal places.
The calculations are provided for illustration purposes only. Please refer to the Terms and Conditions for more information.