CITI MAXIGAIN SAVINGS ACCOUNT

Get up to 1.5%* p.a. on your savings and start a Citi Priority relationship with S$70,000.

Citi MaxiGain Savings Account

Get up to 1.5%* p.a. on your savings and start a Citi Priority relationship with S$70,000.
GET 1.5%* p.a. IN INTEREST
Base Interest

Base Interest

0.9% # p.a.

  • 50%# of the 1-month SIBOR (Singapore Interbank Offer Rate)
  • Payable with minimum S$70,000 daily end of day balance
plus
Bonus Interest

Bonus Interest

0.6% ^ p.a.

  • Bonus interest rate that steps up monthly
  • Starting from 0.05%^ p.a. to a maximum of 0.6%^ p.a
equal
Total Interest

Total Interest

1.5% * p.a.

How the interest rates add up:

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

0.90%#

Counter 1
0.05%
0.95%
Counter 2
0.10%
1.00%
Counter 3
0.15%
1.05%
to
to
Counter 11
0.55%
1.45%
Counter 12
0.60%
1.50%

Start a Citi Priority relationship with S$70,000 and you will enjoy:

  • Simple Banking

    Simple banking

    Instant payments & transfers and real-time balance updates with Citi Mobile® App

  • Wealth creation

    Wealth creation

    Priority banking wealth packages with preferential rates and personalised services

  • Smart investments

    Smart investments

    Bite-sized tips on financial planning and digital investment solutions that are time and fee-saving

  • Global banking benefits

    Global banking benefits

    Free Citibank Global Transfer and ATM withdrawals at Citibank ATMs worldwide

  • Exclusive privileges

    Exclusive privileges

    Year-round Citi Priority Delights offers and lifestyle privileges with privileges with Citi Priority Debit Mastercard®

MOVING SIBOR RATE

Citi Savings Account1-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.
FAQs

Click on    to expand and on    to minimise the details.

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 50% 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 1.8% p.a., the Base Interest Rate shall be 0.9% 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.

Your balances capped at S$150,000 shall accrue bonus interest at a rate ("Bonus Interest Rate") that steps up each month, from 0.05% p.a. to a maximum of 0.6% 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$250,000
Number of days in month 28 31 30
Counter 0 1 2
Bonus Interest Rate 0 0.05% p.a. 0.10% p.a.
Bonus interest N.A S$30,000 x 0.05% x 28/365 = S$1.15 $150,000 x 0.10% x 31/365 = S$12.74

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

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* 50% of 1 month SIBOR Up to 0.6% 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 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
0-5 0
6-12 6

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.

You can visit the website: http://www.abs.org.sg/rates_sibor.php for updated SIBOR rates.

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 19th February 2019 28th February 2019 31st March 2019 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 * 0.05%p.a. * (10/365) = S$0.96 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,000 * 0.1%p.a. * (31/365) = S$5.94

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 $0 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 * 0.05%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 * 0.1%p.a. * (31/365) = S$5.94

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 = 1.80% p.a.) 0.9% p.a. 0.9% p.a. 0.9% p.a. 0.9% p.a.
Base Interest accorded at month end S$70,000 * 0.9% * (28/365) = S$48.33 S$70,053.70 * 0.9% * (31/365) = S$53.55 S$70,118.57 * 0.9% * (31/365) = S$51.86 S$70,188.10 * 0.9% * (31/365) = S$53.64
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 * 0.05% p.a. * (28/365) = S$2.68 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$5.95 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$70,118.57 * 0.15% p.a. * (30/365) = S$8.64

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 = 1.80% p.a.) 0.9% p.a 0.9% p.a 0.9% p.a 0.9% p.a
Base Interest accorded at month end S$75,000 * 0.9% * (28/365) = S$51.78 S$75,075.37 * 0.9% * (31/365) = S$57.38 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 * 0.15% p.a. * (31/365) = S$8.91 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$75,000 * 0.2% p.a. * (28/365) = S$11.50 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

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 = 1.80% p.a.) 0.9% p.a. 0.9% p.a. 0.9% p.a. 0.9% p.a.
Base Interest accorded at month end S$150,000 * 0.9% * (28/365) = S$103.56 S$150,000 * 0.9% * (31/365) = S$114.66 S$50,157.53 * 0.05% * (31/365) = S$2.13 S$120,000 * 0.9% * (30/365) = S$88.76 S$100,000 * 0.9% *(31/365) = S$76.43
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 * 0.25% p.a. * (31/365) = S$21.23 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$150,000 * 0.3% p.a. *(28/365) = S$34.51 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$150,000 * 0.3% p.a. * (31/365) = S$38.22 Bonus interest = Lowest balance in previous month * bonus counter rate * number of days in previous month = S$120,000 * 0.3% p.a. * (30/365) = S$29.58

I am interested to open a Citi MaxiGain Savings Account

 

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Changes to MaxiGain Account features

With effect from 2 December 2019, the base interest rate for the Citi MaxiGain Savings Account will be revised to 50% of the 1-month Singapore Dollar Interbank Offer Rate (1-month SIBOR). The bonus interest rate will also be revised to step up monthly from 0.05% p.a. to a maximum of 0.60% p.a.. You may click here for more information.

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 1.8% p.a. therefore, the base interest rate set out in this marketing material is 0.9% p.a. based on the 1-month SIBOR of 1.8% 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 0.05% p.a. to a maximum of 0.6% 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 1.5% interest p.a. (0.9%# base + 0.6% p.a. bonus) from the 13th month onwards. For clarity, the 0.9%# interest p.a. is applicable on the daily balance and 0.6% interest p.a. is applicable on the lowest balance in the previous month provided the necessary conditions are fulfilled.

The products and services mentioned above 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.

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