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Citibank Foreign Term Deposit

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Invest your foreign currency savings wisely and benefit with a guaranteed return over a set period of time.

Holders of a Citibank Multi Currency Account can increase their wealth securely by investing in the Foreign Term Deposit. From quick turnarounds to investments that grow over the course of a year, this flexible account gives your cash a safe home while still earning a competitive interest rate.

Up to 0.24% p.a.

Interest rate

3 months interest rate

$10,000

Minimum opening deposit

$0

Account keeping fee

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Details

Product NameCitibank Foreign Term Deposit USD
3 month interest rate0.24%
6 month interest rate0.24%
12 month interest rate0.20%
Minimum Opening Deposit$10,000
Minimum Age Requirement18

Key features

Available currencies

You can invest in ten different currencies with this account. That includes the; Euro (EUR), Canadian dollar (CAD), Hong Kong dollar (HKD), Japanese Yen (JPY), New Zealand dollar (NZD), Pound sterling (GBP), Singapore dollar (SGD), South African dollar (ZAR), Swiss franc (CHF), and United States dollar (USD).

Minimum deposit

You must be able to make a minimum deposit of $10,000 or the equivalent in your chosen currency.


How to apply

In order to apply for the Foreign Term Deposit Account, Citibank requires that you visit a branch to fill out the necessary forms. They will ask you questions first to make sure that you are eligible:

Eligibility

  • Minimum age. You must be at least 18 years of age to open this account.
  • Residency requirements. You must be identified in Australia when this account is opened. You should also be able to provide a valid Australian residential address.

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2 Comments

  1. Default Gravatar
    Josh
    August 14, 2019

    What interest rate does Citibank offer on a $70000 term deposit for 6 months?

    • Default Gravatar
      Nikki
      August 14, 2019

      Hi Josh,

      Thanks for visiting our page.

      According to the Citibank website on Foreign Currency Term Deposit, You can earn 3.00% p.a. on a USD TERM DEPOSIT AND FX.

      Exchange minimum USD $50,000

      3 or 6-month term deposit
      Exchange minimum of USD $50,000 on eligible foreign currencies
      Earn 3.00% p.a. equal to or less than exchange amount

      Eligible Foreign Exchange Transaction are funds converted into minimum of USD $50,000 up to a maximum of USD $2,000,000 from the following currencies AUD/EUR/GPB/JPY/CAD/HKD/NZD/SGD at the standard FX rates. The Foreign Exchange Transaction funds must be used to setup a USD term deposit. The USD term deposit amount cannot exceed the foreign exchange transaction (minimum of USD $50,000 up to a maximum of USD $2,000,000).

      The Term Deposit will automatically renew for the same term at maturity unless you have nominated otherwise. Please note that the interest rate that will apply to your reinvestment will be the interest rate current on the date of maturity which may be less than what may be available to you had you made a new investment.

      For more information, you may visit Citibank’s term deposit page.

      Hope this helps. Feel free to reach out for further assistance.

      Best,
      Nikki

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