Citibank Online Saver Account

Kickstart your savings plan with a variable introductory rate of 1.1% p.a. for the first 4 months.

Set up a regular savings plan today with a Citibank Online Saver account. As long as your balance is under $500,001, you'll receive a competitive variable introductory interest rate of 1.1% p.a. for the first 4 months for new accounts. You won't need to worry about minimum balance requirements or conditions to get the bonus interest. There are also no account keeping fees. If you are looking for a way to save online, Citibank offers an account that can give you a good start.

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1.1% p.a.

Maximum variable rate

0.35%p.a.

Base interest rate

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Details

Product NameCitibank Online Saver
Maximum Variable Rate1.1% p.a.
Standard Variable Rate0.35%
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age18

Review by


Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

This account offers a maximum bonus rate of 1.1% for the first 4 months after opening the account. You don’t need to meet any deposit conditions or spending requirements to get this rate.

After the introductory period it’ll revert to the standard base rate of 0.35%. The standard rate is quite low but there are no conditions to meet to earn it, which could appeal to you if you don’t want to commit to deposit a certain amount each month and you want easy access to the money.

You may be able to get a slightly higher bonus rate with another introductory saver account, however the Citibank Online Saver offers the bonus rate on balances up to $500,000. Most savings accounts only pay bonus interest on balances up to $100,000 or $250,000, so this account could be suited to you if you’ve got a large balance.

Key features

Competitive variable interest rate of 1.1% p.a. for the first 4 months for new customers

There is a variable interest rate of 1.1% p.a. offered for the first 4 months you have the account. This introductory rate is available on your first Citi Online Saver account only (so if you've previously held a Citi Online Saver Account in your name you're not eligible).

After this period, the variable interest rate reverts to 0.35% p.a. To receive the bonus rate your balance must not exceed $500,001.

How is my interest calculated?

Interest is calculated daily and paid into the account monthly. The interest rate is variable, which means it could change according to the movements of the RBA cash rate. The introductory interest rate applies to the first Citibank Online Saver that you open and the balance must be under $500,001. You can compare savings accounts that award the maximum rate on balances $500,000 here.

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How to apply

It will take only a few minutes to apply online for the Citibank Online Saver, which you can start by clicking 'Go to Site'.

Eligibility

Before doing so, you should first make sure that you are able to meet their eligibility requirements:

  • Age. All applicants must be at least 18 years of age.
  • Residency. This account is only available to legal permanent residents of Australia.

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169 Comments

    Default Gravatar
    Bernard
    April 30, 2019

    Can we have a joint online saver account?

      Avatarfinder Customer Care
      Charisse
      May 1, 2019

      Hi Bernard,

      Thanks for reaching out to Finder.

      If you are referring to Citibank Online Saver account, this can only be used as a personal account and not as a joint or business account.

      You may want to compare joint savings accounts and see your available options.

      I hope that helps.

      Cheers,
      Charisse

    Default Gravatar
    mandy
    December 12, 2018

    I’m looking at opening this account for approx 4 to 6 months knowing that I can withdraw anytime without fees. If I need to withdraw the cash rather than transfer can I do this in the nearest Citibank?

      Avatarfinder Customer Care
      Jhez
      December 18, 2018

      Hello Mandy,

      Thank you for your comment.

      Yes, you can withdraw cash from your Citibank account in the nearest branch.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

    Default Gravatar
    Joshua
    November 1, 2018

    I want to have a Citibank online saver account. does it allow me to apply and open that account via online or have to go to the branch? If I open this account a few weeks before the real money is transferred in, when is the date you start to calculate 4 months periods, is it the date of opening account or the date of the money is actually in? thanks so much

      Avatarfinder Customer Care
      John
      November 1, 2018

      Hi Joshua,

      Thank you for leaving a question.

      You may be able to complete the application entirely online for this product. The calculation of the 4 month period would start from the date the account was opened and not the date the money was deposited. Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    Sharyn
    October 2, 2018

    Is this Online Saver available to Non For Profit organisations?

      Avatarfinder Customer Care
      Charisse
      October 3, 2018

      Hi Sharyn,

      Thanks for reaching out to Finder.

      Citibank’s online saver account can only be used as a personal account and not as a business or joint account. You can check out their Citibank Ultimate Business Saver. This account provides you with a convenient way to keep your business finances separate from your personal assets.

      You may also refer to our list of business bank accounts. You can use our comparison table to help you find the account that suits you. When you are ready, you may then click on the “Go to site” button and you will be redirected to the bank’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
      You can also contact Citibank directly for further assistance in an opening bank account for non-profit organizations.

      Hope this helps.

      Cheers,
      Charisse

    Default Gravatar
    John
    September 19, 2018

    How often is intrest paid

      Default Gravatar
      Nikki
      September 19, 2018

      Hi John!

      Thanks for your message and for contacting finder.

      For the Citibank Online Saver Account, as per our page it says:

      Interest is calculated daily and paid into the account monthly. The interest rate is variable, which means it could change according to the movements of the RBA cash rate. The introductory interest rate applies to the first Citibank Online Saver that you open and the balance must be under $500,000.

      Hope this helps! Feel free to message us again for any follow up.

      Regards,
      Nikki

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