Citibank Term Deposit $250,000+

Citibank Term Deposit $250,000+

Min. Opening Deposit

250,000

Account Keeping Fee

0.00
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Invest $250,000 or more for 6 months and earn a very competitive 2.98% p.a.

  • Competitive, fixed 2.98% p.a. for 6 months
  • $0 Setup and account-keeping fees
  • Minimum investment of $250,000
  • Citibank eligible investors only

Product details

If you’re looking for a safe and secure way to invest $250,000 or more and enjoy reliable returns, the Citibank Term Deposit $250,000+ is well worth a look. With a term of six months, this account pays a competitive fixed interest rate of 2.98% p.a., allowing you to enjoy a high rate of return on your large investment amount. This account is for eligible investors only.

Only Citibank eligible investors are eligible for this account. Citibank eligible investors are those with a certificate issued by a qualified accountant stating they have net assets of over $2.5 million, or an annual gross income of at least $250,000 for the last two financial years. T&Cs apply.

Product Name
Citibank Term Deposit $250,000+
6 month interest rate
2.98%
Min Deposit
$250,000
Minimum Age Requirement
18
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SPECIAL OFFER FOR LUNAR NEW YEAR

Earn a special interest rate of 3.98% p.a when you open a new six month term deposit before 31 March 2018 and invest $250,000 or more with at least half the funds invested in eligible investment products. Plus, receive a limited edition Year of the Dog 1/10oz gold coin valued at AUD$339 from the Perth Mint. This offer is only available for wholesale investors registered with Citi. For full terms and conditions, please visit Citi's website.

What are the features of the Citibank Term Deposit $250,000+?

Fixed interest rate of 2.98% p.a. for 6 months

The Citibank Term Deposit $250,000+ pays a fixed interest rate of 2.98% p.a. for 6 months, allowing you to enjoy the peace of mind that comes with secure, guaranteed returns. This special interest rate is only available to Citibank eligible investors. If you're not an eligible client, consider the standard Citibank Term deposit instead.

Investments of $250,000 or more

This account is only available to eligible investors who have a minimum of $250,000 to invest. If you have a smaller deposit, consider one of Citibank's savings accounts instead.

Fixed 6-month term

The Citibank Term Deposit $250,000+ features a fixed investment period of 6 months.

$0 establishment fees

There are no setup or administration fees to pay when you open this account.

$0 account-keeping fees

There are also no ongoing account-keeping fees you need to worry about paying, which means all of the money you invest in your Citibank Term Deposit will go towards earning interest and helping you reach your savings goal.

31-day notice period

If you wish to withdraw funds from your account, you will need to provide Citibank with 31 days’ written notice. Other fees and deductions may also apply to your account.

Making your initial deposit

You can deposit the initial funds into your account by cheque or telegraphic transfer from your bank account.

Automatic reinvestment

Unless you advise Citibank otherwise, when your deposit matures it will be automatically reinvested in a Citibank Term Deposit with the same term and notice period.

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Pros

  • A fixed interest rate
  • Guaranteed returns over a fixed 6 month term on balances over $250,000
  • Competitive 2.98% p.a. for 6 months
  • $0 Establishment or account-keeping fees

Cons

  • $250,000 minimum investment required
  • Only eligible clients are eligible for this account

What you’ll need to know before applying

If you’re looking for a safe investment and the security of guaranteed returns this account offers, click the “Go to site” link above. This will take you to the Citibank website where you can fill out an online enquiry form. Simply provide your name, phone number, email address, investment amount and preferred contact time, and a Citibank staff member will get in touch to discuss your account requirements.

If you're looking to invest a smaller amount, you can consider one of Citibank's savings accounts instead.

Eligibility criteria

You will need to meet the following criteria if you want to apply for a Citibank Term Deposit $250,000+:

  • 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.
  • Minimum investment $250,000. You will need to have a sum of $250,000 or more to invest in the account.
  • Eligible investors only. This term deposit is only available for eligible Citibank clients. If you're not an eligible investor, consider the standard Citibank Term deposit instead.

Information and documentation needed

You’ll also need to provide some information and documentation to become a new Citibank customer and open an account, including:

  • Your Tax File Number (TFN). While it’s not mandatory to provide your TFN or TFN exemption code, if you don’t complete this step then Citibank will withhold tax on the interest paid on your account at the marginal tax rate.
  • Proof of ID. You will also need to provide proof of ID before you can open an account. To do this you must provide two forms of identification (one of which must be photo ID such as a driver’s licence or passport) at a Citibank branch or an Australia Post outlet.
  • Personal details. Finally, when you apply you will also be asked to provide your residential address, phone number and current email address.
  • Eligible Investor accreditation. You'll need to have a certificate issued by an eligible accountant proving your eligible client status.

The Citibank Term Deposit $250,000+ is well worth a look for anyone who has a large sum to invest and wants the security of guaranteed returns. Compare it with a range of other term deposits to see whether it offers good value for your money.

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