7 thoughts to “Why I Close My Citibank Step Up Interest Account”

  1. Hi MSR,

    I got that email too and grumbled for a little bit. But I’ll still be topping up my Citi MaxiGain account to $15k. I’m getting about 1% now after building up my “counters”. If the SIBOR rate stays constant, I should be pulling in about 1.6% by mid year and that’s going to beat most fixed deposits!

    However, I don’t use my Citi as a regular account. I use it like an online savings-only bank account.

    1. I would like to second GMGH.
      Many financial products are out there but only a handful are gems. Step up account is not a gem.

      MaxiGain is one of the gems if you can get past the 15k minimum relationship barrier.
      FD rates have fallen drastically past half year. My MaxiGain is also giving me better rates as I have stepped up past #6.
      Myself I am looking forward to moving maturing FD from Maybank & SC into this MaxiGain.

  2. Feel sorry for you. I took their maxigain savings account .. its good. try that lah. Consolidate money w/ maxigain, FAST to dbs and withdraw islandwide..

  3. Thanks for your post. Yes, I’ve a step up account with Shittybank too. I’m thinking of closing it now. Which would readers recommend to go to? Ocbc or Uob?

  4. Now Citibank Maxigain at Step 12 is > 2%. Transferring money interbank is easy and immediate with FAST. I do agree that maintaining 15K may be a headache if you do not have much spare cash. Try OCBC360 or SCB Bonus Saver but do be informed that you need to spend to get the better interest rate.

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