Citibank Term Deposit $10K
- Interest rate 12 months interest rate
- Up to 5.1% p.a.
- Minimum opening deposit
- Account keeping fee
- Maximum deposit
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.
Competitive short-term rates
No set up or ongoing account fees
$10,000 minimum deposit is higher than others in the market
Not many term lengths available
|Product Name||Citibank Term Deposit|
|3 month interest rate||4.65%|
|6 month interest rate||4.80%|
|9 month interest rate||4.90%|
|12 month interest rate||5.10%|
|24 month interest rate||4.85%|
|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|
|Minimum Age Requirement||18|
|Available to children||Not available for children|
Fixed interest rates
Earn a fixed rate on a range of term lengths from 3 months to 5 years (as shown in the table above). You can currently earn a fixed rate of 5.1% p.a. on 12 month term.
Deposits from $10,000
You can invest with deposits between $10,000 and $2,000,000. If you’ve got more to invest, consider looking at the Citibank Term Deposit $250,000+ instead.
There are no establishment fees when opening this term deposit, and no ongoing account-keeping fees.
31-day notice period
If you want to withdraw money from your term deposit before the 3 month term has ended, you'll need to give Citi at least 31 days' written notice. Other fees and deductions may also apply to your account, such as a reduced interest rate.
Fund your term deposit with a Citi Plus Account
To open this term deposit, you must first open a Citibank Plus Transaction Account. Once you’ve got the Plus Account opened, you can deposit money into the account then use Citi Online Internet banking to open a term deposit and deposit money.
How to apply
Citibank Term Deposits are no longer available to open, unless you have an existing Citi branded transaction account.
- 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 $10,000. You will need to have a deposit over $10,000 to invest in the account.
- Your Tax File Number (TFN). If you don't complete this step, then Citi will withhold tax on the interest paid on your account at the marginal tax rate.
- Proof of ID. You must provide two forms of identification (one of which must be photo ID such as a driver's licence or passport).
- Personal details. Finally, when you apply, you will need to provide your residential address, phone number and current email address.
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July 09, 2023
What is the best deposit for $1000000, for between 1 -3 maybe 4 months?
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.
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
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%.
June 15, 2023
Does the $250,000 Government guarantee apply?
Sarah Megginson Finder
June 16, 2023
Yes, Citibank is an authorised deposit-taking institution, so savings accounts and term deposits are protected by the government guarantee.
Hope this helps!
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.
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