Citi MaxiGain Savings Account

This savings account from Citibank has been designed to allow you to earn bonus interest based on the balance you maintain in your account. This account offers a base interest rate of 80% of 1-month SIBOR. To earn the base interest, you will have to maintain a daily balance of at least S$10,000 in your account. On top of the base interest, you get a bonus interest, which goes up by 0.1% p.a. every month. You can earn a maximum bonus interest of 1.2% p.a. This means you will have to wait till the 13th month to be able to earn the maximum interest on this account.

However, for the bonus interest to increase by 0.1% p.a. every month, you will have to make sure that your account balance at any point of time in a month should be equal to or more than the lowest balance in the previous month.

Features and Benefits: Earn Bonus Interest Rate of Up to 1.2% p.a.

The key benefits and features of the Citi MaxiGain Savings Account include:

  • This account provides you a base rate of 80% of 1-month SIBOR rate. For instance, if 1-month SIBOR is 1%, your base interest would be 0.8% p.a.
  • You will earn a bonus interest, in addition to the base interest, which increases by 0.1% p.a. every month up to a maximum of 1.2% p.a. Therefore, by the 13th month, you will be able to earn the maximum interest, provided you meet the eligibility requirement.
  • You can also start a Citi Priority relationship with a minimum amount of S$70,000.
  • Enjoy checking facilities with this account. You will get personalised checkbooks and they are automatically replenished as soon as your cheques are over. Besides, you can also enjoy complimentary cheque imaging which will be printed on your monthly statements. This feature makes it easier to track and monitor.
  • Access to Online Banking facility as well as Phone Banking facility to manage funds and to perform day-to-day banking operations.
  • Complimentary Citibank Debit Card.

Interest Rates: Earn Base Rate of 80% of 1-Month SIBOR

The base interest rate on the Citi MaxiGain Savings Account stands at 80% of the 1-month SIBOR rate. Additionally, you earn a bonus interest, which steps up by 0.1% p.a. every month, starting from zero in the first month. The bonus interest is capped at 1.2% p.a.

However, this 0.1% p.a. increment in the bonus rate happens only when the balance in your account at any point of time in a month is equal to or more than the lowest balance in the previous month.

Take a look at the illustration below to understand how it works:

  Month 1 (account opening month) Month 2 (30 days) Month 3 (31 days)
Balance at the end of Day 1 S$0 S$20,000 S$25,000
Balance at the end of Day 2 S$20,000 S$20,000 S$30,000
Balance at the end of Day 3 to Day 31 S$20,000 S$25,000 S$30,000
Lowest balance for the month S$0 S$20,000 S$25,000
Counter 0 1 2
Bonus interest 0% 0.10% p.a. 0.20% p.a.

The bonus interest for any month is calculated on the basis of the lowest balance of the previous month and number of days in the previous month. So, in the above example, your bonus interest for the Month 3 would be calculated as: S$20,000 x 0.20% x 30/365.

The counter goes up by 1 every time your bonus interest increases. It will not increase if the balance in your account is zero or is in negative.

What Happens When Current Month Lowest Balance is Lower Than the Previous Month’s Lowest Balance?

If the counter in your previous month was between 0 and 5, the counter in the current month will reset to zero, if your current month lowest balance is lower than the previous month’s lowest balance.

If the counter in your previous month was between 6 and 12, the counter in the current month will reset to 6.

In case your lowest balance stays at S$0 for two consecutive months, the counter resets to zero in the second month.

Fees and Charges

The various fees and charges associated with this account is illustrated in the table below:

Account service fee S$15 each month (only applicable if you haven’t maintained a minimum Total Relationship Balance of S$15,000 by the end of each month)
Cheque book replenishment fee S$15 for each cheque book (only applicable from the second cheque book issued)
Account closure fee S$50 (only applicable if the account is terminated within 6 months from the date of opening)

Are You Eligibility to Open This Account?

  • You must be a Singaporean/PR.
  • To be eligible for Citi Priority relationship, you must make a minimum initial deposit of S$70,000 into your Citi MaxiGain Savings Account.

How to Apply for Citi MaxiGain Savings Account

You can visit the bank webpage for the Citi MaxiGain Savings Account and fill in your particulars there to apply for this account. You have to fill in relevant details such as your name, NRIC, email ID, and contact number. The bank will get in touch with you via telephone based on the details you have submitted on the webpage.


    Q. How will the base interest be calculated on my account?

    A. The base interest is calculated as 80% of the 1-month SIBOR on your daily balance. The rate is applicable up to the first S$150,000 of your balance in the MaxiGain Savings Account. However, a base interest rate of 0.05% p.a. will be applicable to your account balance if it exceeds S$150,000.

    Q. Do I have to meet any requirement in order to earn base interest on my account?

    A. Yes, you must have a minimum account balance of S$10,000 in order for the base interest rate to be applicable. In other words, if your account balance falls below S$10,000 no interest would accrue.

    Q. When will I receive my base interest rate for this account?

    A. As long as you qualify in terms of the minimum account balance of S$10,000, you will continue receiving your base interest on the last day of the month.

    Q. How do I view the current SIBOR rates?

    A. You can check the current or the updated SIBOR rates by visiting the webpage:

    Q. Will I get my first cheque book for free with this account?

    A. Yes, the first cheque book for this account is complimentary.

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