Citibank Term Deposit 250K

Citibank Term Deposit 250K

Min. Opening Deposit

250,000

Account Keeping Fee

0.00

Earn 2.00% p.a. when you invest more than $250,000 for 3 or 6 months.

  • Fixed 2.00% p.a. for short-term investments
  • $0 account-keeping or establishment fees
  • Deposits over $250,000

Product details

This Citibank term deposit is suited to customers with large balances over $250,000. The term deposit offers a fixed interest rate of 2.00% p.a. for a period of 3 or 6 months, offering guaranteed and predictable returns on your funds.

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This term deposit is a good set-and-forget savings strategy for larger deposits.

Product Name
Citibank Term Deposit 250K
3 month interest rate
2.00%
6 month interest rate
1.80%
Min Deposit
$250,000
Minimum Age Requirement
18

Features

Fixed interest rate of 2.00% p.a. for 3 or 6 months

This term deposit offers a fixed interest rate of 2.00% p.a. on 3 or 6 month terms only. There are no other term lengths available.

Balances over $250,000

You must have a minimum investment of $250,000 to open this term deposit. The maximum balance for this account is $2 million.

$0 fees

There are no establishment fees when setting up this account, and no ongoing account-keeping fees.

31-day notice period

If you want to withdraw money from your term deposit, you'll need to give Citibank 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 Global Currency Account

To open this term deposit, you must have a Citi Global Currency Account. To fund your term deposit, simply transfer funds to your term deposit account from your Global Currency Account using Internet or mobile banking. If you don't have a Global Currency Account, you'll receive one when applying for this term deposit, or you can open one yourself here.

Pros

  • Competitive fixed rate of 2.00% p.a.
  • No fees
  • Guaranteed returns on your money
  • Can invest as much as $2,000,000

Cons

  • Only three or six month terms available
  • High starting balance required

How to apply

To open this account, you must first open a Citi Global Currency Account in your name. Once you've done this, make sure you meet the eligibility criteria for this term deposit before applying.

Eligibility criteria

You will need to meet the following criteria if you want to apply for a Citibank Term Deposit:

  • 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 deposit over $250,000 to invest in the account.

Documentation needed

  • Your Tax File Number (TFN). 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 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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2 Responses

  1. Default Gravatar
    DavidMay 16, 2019

    I have $250k in SMSF to invest in a term deposit. What are the best rates available for 3, 6, 9, 12 and 5 years terms?

    • Avatarfinder Customer Care
      NikkiMay 17, 2019Staff

      Hi David,

      Thanks for getting in touch with Finder! Please see below the page dedicated for the following term deposit periods requested:

      3 months
      6 months
      9 months
      12 months

      As a friendly reminder, review the eligibility criteria of the account before applying and read up on the terms and condition. Feel free to reach out to the bank if you need any clarifications. Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      With care,
      Nikki

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