CITI MAXIGAIN ACCOUNT

Get up to 0.31%* p.a. on your savings with Citi MaxiGain Account

Get up to 0.31%* p.a. on your savings with the new Citi MaxiGain Savings Account

Revision to Citi MaxiGain Account Feature

With effect from 1 November 2021, the following change will apply to Citi MaxiGain Account.

Prior to 1 November 2021 From 1 November 2021
Bonus interest rate steps up each month starting from 0.05% p.a. to a maximum of 0.60% p.a. Bonus interest rate steps up each month starting from 0.025% p.a. to a maximum of 0.30% p.a.

There is no action required and the revised bonus interest rate will apply to the account automatically.

You may click here for more information.


Looking for an alternative way to boost your savings? You can earn up to 7.51% p.a.* with the Citi Wealth First Account. *T&Cs apply.

Find out more

What is a Citi MaxiGain Account?


The Citi MaxiGain Account is a savings account that offers a bonus interest that increases up to 0.31%^ p.a. apart from the base interest of 0.01%# p.a.


Benefits of Citi MaxiGain Account

  • Easily grow your money with up to 0.31% p.a.^ on your savings

  • Debit Card with access to over 13,000 Citibank ATMs.

  • Free Citibank Global Transfers

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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.
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How It Works

How does Citi MaxiGain Account work?

Base Interest

Base Interest

0.01% # p.a.

  • For the entire account balance
  • No minimum balance is required to earn base interest
plus
Bonus Interest

Bonus Interest

0.3% ^ p.a.

  • Bonus interest rate that steps up monthly
  • Starting from 0.025%^ p.a. to a maximum of 0.3%^ p.a.
equal
Total Interest

Total Interest

0.31% * p.a.

How the interest rates add up:

Base Rate#
(p.a.)		 Bonus Rate^
(p.a.)		 Total Interest Rate*
(p.a.)

0.01%#
Counter 0
0.000%
 0.010%
Counter 1
0.025%
 0.035%
Counter 2
0.050%
 0.060%
Counter 3
0.075%
 0.085%
to
 to
Counter 11
0.275%
 0.285%
Counter 12
0.300%
 0.310%

Features of Citi MaxiGain Account:

Mobile & Online Banking Yes Instant payments & transfers and real-time balance updates
Phone Banking Yes CitiPhone Banking and Automated Voice Response
Citibank Debit Card Yes Free cash withdrawals at Citibank ATMs, as well as access to merchants worldwide
FAQs

FAQs on Citi MaxiGain Account

Click on    to expand and on    to minimise the details.

What interest will I earn on the Citi MaxiGain Account?

You will earn base interest and bonus interest on your Citi MaxiGain Account ("MaxiGain account") if certain criteria are met.

How is base interest calculated?

The Bank shall pay you base interest of 0.01% p.a. on your average daily balance at the end of each month. No minimum balance is required to earn Base Interest.

How is bonus interest calculated?

Your balances capped at S$70,000 shall accrue bonus interest at a rate ("Bonus Interest Rate") that steps up each month, from 0.025% p.a. to a maximum of 0.3% 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 previous month. Bonus interest is computed based on the previous month's lowest balance and number of calendar days 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.

Please see the table below for illustration:

  Month 1 Month 2 Month 3
Lowest Balance S$30,000 S$75,000 S$80,000
Number of days in month 28 31 30
Counter 0 1 2
Bonus Interest Rate 0% p.a. 0.025% p.a. 0.05% p.a.
Bonus interest N.A S$30,000 x 0.025% x 28/365 = S$0.58 S$70,000 x 0.05% x 31/365 = S$2.97
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
Are there requirements for interests to be earned?

No minimum balance is required to earn base interest and bonus interest. 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$70,000^ 0.01% p.a. Up to 0.3% p.a., depending on the Counter
Above S$70,000 0.01% p.a. N.A.
Conditions N.A.

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 previous month, the Counter will reset as follows:

Counter in the Previous 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. For example, you will receive your bonus interest on the last day of December 2021, provided the lowest balance in December 2021 is equal to or greater than the lowest balance in November 2021.

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 1 End of month 2 End of month 3
Date 18th November 2021 19th November 2021 30st November 2021 31st December 2021 31st January 2022
Funds Deposited S$70,000 NA NA NA NA
Lowest Balance in the month S$70,000 S$70,000 S$70,000.62
Number of days in the month 13 (18th Nov to 30th Nov) 31 31
Bonus Counter / Bonus Interest Rate 0 / 0% p.a. 1 / 0.025% p.a. 2 / 0.05% p.a.
Bonus Interest Bonus Counter is 0, no bonus interest Bonus interest = Lowest balance in previous month x bonus interest rate x number of days in previous month = S$70,000 x 0.025% p.a. x (13/365) = S$0.62 Bonus interest = Lowest balance in previous month x bonus interest rate x number of days in previous month = S$70,000 x 0.05% p.a. x (31/365) = S$2.97
What bonus interest do I get if Account is not funded immediately?

Bonus interest for Month 2 will be affected; no effect on the other months.

Account Opening day After Account Opening day End of month 1 End of month 2 End of month 3
Date 18th November 2021 19th November 2021 30th November 2021 31st December 2021 31st January 2022
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 13 (18th Nov to 30th Nov) 31 31
Bonus Counter / Bonus Interest Rate 0 / 0% p.a. 1 / 0.025% p.a. 2 / 0.05% p.a.
Bonus Interest Bonus Counter is 0, no bonus interest. Bonus interest = Lowest balance in previous month x bonus interest rate x number of days in previous month = S$0 x 0.025% p.a. x (13/365) = S$0 Bonus interest = Lowest balance in previous month x bonus interest rate x number of days in previous month = S$70,000 x 0.05% p.a. x (31/365) = S$2.97
What happens when lowest account balance remains the same or increases the following month?

Bonus counter increases.

End of month 1 End of month 2 End of month 3 End of month 4
Date 30th November 2021 31st December 2021 31st January 2022 28th February 2022
Lowest Balance in the month S$70,000 S$70,000.58 S$70,002.61 S$70,006.17
Number of days in the month 30 31 31 28
Base Interest rate 0.01% p.a. 0.01% p.a. 0.01% p.a. 0.01% p.a.
Base Interest accorded at month end S$ 70,000 x 0.01% x (30/365) = S$0.58 S$70,000.58 x 0.01% x (31/365) = S$0.59 S$70,002.61 x 0.01% x (31/365) = S$0.59 S$70,006.17 x 0.01% x (28/365) = S$0.54
Bonus Counter / Bonus Interest Rate 0 / 0% p.a. 1 / 0.025% p.a. 2 / 0.05% p.a. 3 / 0.075% p.a.
Bonus Interest Bonus Counter is 0, no bonus interest. Bonus interest = Lowest balance in previous month x bonus interest rate x number of days in previous month = S$70,000 x 0.025% p.a. x (30/365) = S$1.44 Bonus interest = Lowest balance in previous month x bonus interest rate x number of days in previous month = S$70,000 x 0.05% p.a. x (31/365) = S$2.97 Bonus interest = Lowest balance in previous month x bonus interest rate x number of days in previous month = S$70,000 x 0.075% p.a. x (31/365) = S$4.46
What happens when lowest account balance decreases before Account has reached Bonus counter 6?

Bonus counter drops to 0.

End of month 4 End of month 5 End of month 6 End of month 7
Date 28th February 2022 31st March 2022 30th April 2022 31st May 2022
Lowest Balance in the month S$75,000 S$75,005.04 S$30,000 S$20,000
Number of days in the month 28 31 30 31
Base Interest rate 0.01% p.a. 0.01% p.a. 0.01% p.a. 0.01% p.a.
Base Interest accorded at month end S$75,000 x 0.01% x (28/365) = S$0.58 S$75,005.04 x 0.01% x (31/365) = S$0.64 S$30,000 x 0.01% x (30/365) = S$0.25 S$20,000 x 0.01% x (31/365) = S$0.17
Bonus Counter / Bonus Interest Rate 3 / 0.075% p.a. 4 / 0.1% p.a. 0 / 0% p.a. 0 / 0% p.a.
Bonus Interest Bonus interest = Lowest balance in previous month x bonus interest rate x number of days in previous month = S$70,000 x 0.075% x (31/365) = S$4.46 Bonus interest = Lowest balance in previous month x bonus interest rate x number of days in previous month = S$70,000 x 0.1% x (28/365) = S$5.37 Bonus Counter is 0, no bonus interest. Bonus Counter is 0, no bonus interest.
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 6 End of month 7 End of month 8 End of month 9
Date 30th April 2022 31st May 2022 30th June 2022 31st July 2022
Lowest Balance in the month S$150,000 S$150,008.66 S$120,000 S$100,000
Number of days in the month 30 31 30 31
Base Interest rate 0.01% p.a. 0.01% p.a. 0.01% p.a. 0.01% p.a.
Base Interest accorded at month end S$150,000 x 0.01% x (30/365) = S$1.23 S$ 150,008.66 x 0.01% x (31/365) = S$1.27 S$ 120,000 x 0.01% x (30/365) = S$0.99 S$ 100,000 x 0.01% x (31/365) = S$0.85
Bonus Counter / Bonus Interest Rate 5 / 0.125% p.a. 6 / 0.15% p.a./td> 6 / 0.15% p.a. 6 / 0.15% p.a.
Bonus Interest Bonus interest = Lowest balance in previous month x bonus interest rate x number of days in previous month = S$70,000 x 0.125% x (31/365) = S$7.43 Bonus interest = Lowest balance in previous month x bonus interest rate x number of days in previous month = S$70,000 x 0.15% x (30/365) = S$8.63 Bonus interest = Lowest balance in previous month x bonus interest rate x number of days in previous month = S$70,000 x 0.15% x (31/365) = S$8.92 Bonus interest = Lowest balance in previous month x bonus interest rate x number of days in previous month = S$70,000 x 0.15% x (30/365) = S$8.63

Terms & Conditions:Terms & Conditions:

Click here for the full terms and conditions.

#The base interest rate will be paid on the entire balance of your Citi MaxiGain Account ("MaxiGain account"). No minimum balance is required to earn base interest.

^Your balances capped at S$70,000 shall accrue bonus interest at a rate ("Bonus Interest Rate") that steps up each month, from 0.025% p.a. to a maximum of 0.3% 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 up to 0.31% interest p.a. (0.01% p.a. base + up to 0.3% p.a. bonus) from the 13th month onwards. For clarity, the 0.01% interest p.a. is applicable on the daily balance and up to 0.3% 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, Isle of Man, the UK, Brazil, or New Zealand. This document 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.