In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question
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Citibank Term Deposit $10K

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Citibank Term Deposit - Closed
Interest rate 12 months interest rate
Up to 5% p.a.
Minimum opening deposit
$10,000
Account keeping fee
$0
Maximum deposit
$2,000,000

Summary

Choose a term length between 3 months and 5 years. You can currently earn 5% p.a. on a 12-month term.

Note: Following the sale of Citi's consumer bank to NAB, Citibank Term Deposits are no longer available to open, unless you have an existing Citi branded transaction account.

Pros

  • Competitive short-term rates
  • No set up or ongoing account fees

Cons

  • $10,000 minimum deposit is higher than others in the market
  • Not many term lengths available

In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Details

Key details

Product Name Citibank Term Deposit - Closed
3 month interest rate 4.65%
6 month interest rate 4.80%
9 month interest rate 4.90%
12 month interest rate 5.00%
24 month interest rate 4.50%
36 month interest rate 4.10%
48 month interest rate 4.10%
60 month interest rate 4.10%
Minimum Opening Deposit $10,000
Minimum age requirement 18

Eligibility

Minimum Age Requirement 18
Min Deposit $10,000
Available to children Not available for children

Must Read:

On 1 June 2022, Citi's consumer banking business was acquired by NAB. This means all bank accounts, savings accounts and term deposits are now provided by NAB, and any contract you may have with Citi is now with NAB. You can find all the details on Citi's website.

Key features

Fixed interest rates

Earn a fixed rate on a range of term lengths from 3 months to 5 years (as shown in the table above). You can currently earn a fixed rate of 5% p.a. on 12 month term.

Deposits from $10,000

You can invest with deposits between $10,000 and $2,000,000. If you’ve got more to invest, consider looking at the Citibank Term Deposit $250,000+ instead.


How to apply

Citibank Term Deposits are no longer available to open, unless you have an existing Citi branded transaction account.

Eligibility criteria

  • 18 years or older. You must be at least 18 years of age to apply for this account.
  • Australian residents only. You must be an Australian resident if you want to open this term deposit.

Compare other savings accounts

1 - 12 of 186
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro Period Government Guarantee Monthly Max Rate Conditions
MyState Bank Bonus Saver Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
0.05%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $20
  • 5 debit card purchases
  • Balances up to $250,000
Go to siteView details
Bank of Queensland Future Saver Account - 14 to 35 years
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.05%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 eligible transactions
  • Balances up to $50,000
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
4.70%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Macquarie Savings Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.75%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Rabobank High Interest Savings Account
Maximum Variable Rate p.a.
5.75%
Standard Variable Rate p.a.
4.40%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Westpac Life (18-29 year olds only)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
2.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow your balance
  • 5 debit card purchases
  • Balances up to $30,000
Go to siteView details
Newcastle Permanent Online Savings Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
1.00%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
ING Savings Maximiser
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Go to siteView details
IMB Reward Saver Account
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
Go to siteView details
ME HomeME Savings Account
Maximum Variable Rate p.a.
5.55%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $2000
  • Grow balance
  • Balances up to $100,000
Go to siteView details
Australian Unity Freedom Saver ($50,000 - $250,000)
Maximum Variable Rate p.a.
5.10%
Standard Variable Rate p.a.
5.10%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances of $50,000 and $250,000
Go to siteView details
Bank of Queensland Simple Saver Account
Maximum Variable Rate p.a.
4.85%
Standard Variable Rate p.a.
4.85%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
Go to siteView details
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Alison Finder

Editor

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Steve

July 09, 2023

What is the best deposit for $1000000, for between 1 -3 maybe 4 months?


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Alison Banney Finder

July 11, 2023

Hi Steve, you can see the current Citi Term deposit rates for different terms on this page. Please note that Citi Term deposits can only be opened if you’re an existing customer of the bank with an existing Citi transaction account.


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Jenny

June 23, 2023

I’m confused about the interest rate for an SMSF term deposit. Key details says 4.75% but further down key features says 4.65%. Which is correct?


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Alison Banney Finder

June 27, 2023

Hi Jenny,

The rate you get depends on which term length you’re looking at. For example, a 12-month term currently offers 4.95%, while a 24-month term offers 4.65%.


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mike

June 15, 2023

Does the $250,000 Government guarantee apply?


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Sarah Megginson Finder

June 16, 2023

Hi Mike,


Yes, Citibank is an authorised deposit-taking institution, so savings accounts and term deposits are protected by the government guarantee.


Hope this helps!


Avatar

Lucille Hamilton

February 23, 2023

I am retired so no longer have a Tax file No. Will tax be withheld on interest earned?


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Raj Lal Finder

February 24, 2023

Hi Lucille, it would be best to have a TFN as then the bank would withhold tax on the interest at your correct rate (which may be nothing). If you don’t provide a TFN you may be charged the highest tax rate on your interest, which you can then claim back at tax time. We’d suggest speaking to a financial adviser for specific tax advice.


Thanks


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