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Citibank Online Saver Account

Kickstart your savings plan with a variable introductory rate of 2.1% 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 2.1% 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, Citi offers an account that can give you a good start.

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2.10% p.a.

Maximum variable rate


Base interest rate

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Product NameCitibank Online Saver
Maximum Variable Rate2.10% p.a.
Standard Variable Rate1.10% p.a.
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age18

Review by

Alison Banney is the banking and superannuation editor at Finder. She has written about finance for more than 8 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 2.1% 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 1.1%. 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 2.1% p.a. for the first 4 months for new customers

There is a variable interest rate of 2.1% p.a. offered for the first 4 months you have the account. This introductory rate is available on your first Citibank Online Saver account only (so if you've previously held a Citibank Online Saver Account in your name you're not eligible).

After this period, the variable interest rate reverts to 1.1% 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.

Launch savings calculator

How to apply


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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  1. Default Gravatar
    May 6, 2022

    Hi just wondering is there a condition of money each month needs to be deposited to get the interest rate or can I skip a month sometimes and still get interest in the money in the account

    • Avatarfinder Customer Care
      May 13, 2022

      Hi Kara,

      There are no deposit conditions, spending requirements, or minimum balance required for this account. You can get the maximum bonus rate of 1.1% p.a. for the first 4 months as long as your balance does not exceed $500,000.

      After this period, the variable interest rate reverts to 0.35% p.a.

      I hope this helps!


  2. Default Gravatar
    March 2, 2022

    Does the Online Saver account qualify for the Australian Government guarantee of $250,000?

    • Avatarfinder Customer Care
      March 7, 2022

      Hi Brian,

      Generally, the government guarantee covers most deposit accounts which include Citibank Online Saver Account under Citigroup. This means your deposit of up to $250,000 is protected. Feel free to check the complete list of covered banks on APRA’s website.


  3. Default Gravatar
    January 8, 2022


    If I have $20,000 in the savings account with .035% pa, how much interest would be generated per month?


    • Avatarfinder Customer Care
      January 26, 2022

      Hi Alasdair,

      The Citibank Online Savings Account has an ongoing base rate of 0.35% p.a., with interest paid monthly.

      The amount of interest paid each month would slightly increase, as your balance increases (unless the rate changes).

      You can use this savings account calculator to get a calculation of your interest.


  4. Default Gravatar
    December 6, 2021

    Can I withdraw the full sum after 4 months?
    Can this be actioned online?

    • Avatarfinder Customer Care
      December 11, 2021


      Yes, you can withdraw your money from the Citibank Online Saver account whenever you’d like. It’s not a locked account.


  5. Default Gravatar
    April 30, 2019

    Can we have a joint online saver account?

    • Avatarfinder Customer Care
      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.


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