The Federal Reserve just cut interest rate for the third time this year. Heartland Boy does not stand to gain from this as he took a HDB loan for his property mortgage. In addition, his thoughts immediately swung to the Citi MaxiGain Savings Account since its base interest rate is pegged directly to 1-Month SIBOR. In a double whammy, not only is 1M-SIBOR expected to decline in the short-term, Citibank also made a third revision to the Citi MaxiGain Savings Account that would drastically lower interest rate for the account holders. And it is unfortunate that Heartland Boy had to learn about it from a forum, hardwarezone, rather than directly from the bank. This blog article would outline the latest changes and how it affects Heartland Boy’s strategy to store his family’s emergency cash reserves.

It was less than a year