Citibank Term Deposit $10K
- 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
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.
Compare other savings accounts
Your reviews
Alison Finder
Editor
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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.
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?
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%.
mike
June 15, 2023
Does the $250,000 Government guarantee apply?
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!
Lucille Hamilton
February 23, 2023
I am retired so no longer have a Tax file No. Will tax be withheld on interest earned?
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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Steve
July 09, 2023
What is the best deposit for $1000000, for between 1 -3 maybe 4 months?