Citibank Term Deposit

Citibank Term Deposit

Min. Opening Deposit

75,000

Account Keeping Fee

0
Go to site
Secure transfer to bank
More info

Find out about Citibank’s prestige term deposit interest rate on investments greater than $75,000 for 6 months

  • Competitive 2.95% p.a. for 6 months
  • $0 Setup and account-keeping fees
  • Guaranteed interest rate
  • Minimum investment of $75,000

Product details

The Citibank Term Deposit is a no fee, low risk investment with guaranteed returns. Lock in a competitive 2.95% p.a. The minimum investment is $75,000 and the investment term is 6 months. This rate applies to investments up to $2,000,000.

Product Name
Citibank Term Deposit ($75,000)
1 month interest rate
2.15%
3 month interest rate
2.50%
4 month interest rate
2.50%
6 month interest rate
2.95%
9 month interest rate
2.35%
12 month interest rate
2.35%
24 month interest rate
2.35%
36 month interest rate
2.35%
48 month interest rate
2.35%
60 month interest rate
2.35%
Min Deposit
$75,000
Joint Application
Yes
Minimum Age Requirement
18
Covered by Government Guarantee
Yes (Up to $250,000 per person, per institution)

What are the features of the Citibank Term Deposit?

The Citibank Term Deposit currently pays you 2.95% p.a. interest when you invest more than $75,000 for 6 months.

Interest rates are subject to change outside of your fixed period. Prior to opening your term deposit, you will be able to confirm the interest rate you lock in for the fixed period.

Get  2.95% p.a. on a 6 month term deposit for balances >$75,000

Your term deposit balance will accrue interest at 2.95% p.a. The 2.95% p.a. interest rate applies to term deposit terms of 6 months only. You must invest more than $75,000 when you open the Citibank term deposit to take advantage of the promotional rate.

Applies to a maximum balance of $2,000,000

The 2.95% p.a. rate of interest applies to balances up to $2,000,000.

It's a fixed investment

A Citibank Term Deposit is a fixed investment, your money is locked away for 6 months. You can withdraw your money early; however, penalties may apply.

Making your initial deposit

You can make deposits to the Citibank Term Deposit by cheque or by telegraphic transfer from a bank account.

31 day notice period

This term deposit has a 31 day notice period. You have to tell Citibank 1 month in advance if you want to make a withdrawal. If you want to withdraw your money and there’s less than a month till your term deposit matures, Citibank will pay you out upon maturity. Citibank is not obliged to honour requests to release your term deposit balance early, Citibank give special consideration if you need your money due to financial hardship.

$0 Setup and account-keeping fees

You won’t pay any establishment fees and monthly service fees when you open this Citibank Term Deposit.

How is my interest paid?

You can choose to have interest paid every 3 months or when the term deposit matures. Upon maturity, interest payments can be reinvested to the term deposit or you can have interest paid to a Citibank transaction or savings account with on call access and reinvest the principal.

Automatic reinvestment

After 6 months when the Citibank Term Deposit matures your money is automatically reinvested in a term deposit with the same term and notice period.

5 day grace period after reinvestment

Citibank give you a grace period of 5 business days in which you can make withdrawals, transfers and deposits. The grace period starts when you original Citibank term deposit matures and rolls over to a new investment.

Contact Citibank in writing

You must contact Citibank in writing if you wish to withdraw your money during the grace period. Citibank must receive your correspondence 2 business days before your term deposit matures.

Launch term deposit calculator

Pros

  • A fixed interest rate
  • Guaranteed returns over a fixed 6 month term on balances over $75,000
  • Competitive 2.95% p.a. for 6 months
  • $0 Establishment or account-keeping fees

Cons

  • $75,000 minimum investment required

What you’ll need to know before applying for the Citibank Term Deposit

To take advantage of Citibank’s 2.95% p.a. for 6 months term deposit offer, click "Go to Site" to be directed to the Citibank website to submit an online enquiry.

Enter your name, contact number, email address and preferred contact time and a Citibank representative will be in touch to assist you opening the account.

Eligibility to apply

The Citibank Term Deposit has the following eligibility requirements.

  • Minimum age. You must be over the age of 18 to apply for this term deposit.
  • Residency. You must be an Australian resident.
  • Minimum investment. You must be able to meet the minimum deposit requirements by investing more than $75,000.

Documentation for your application

You need to provide identification to register as a new Citibank customer and open a term deposit.

  • Tax File Number (TFN). If you don’t provide your TFN or TFN exemption code, Citibank will withhold tax on the interest you earn at the marginal tax rate.
  • Identification. Citibank need to verify your identity before you can make deposits to your term deposit. You can do this online, at a Citibank branch or Australia Post retail outlet.

What happens after I submit the enquiry?

A Citibank representative will get in touch with you at the time you prefer. They will discuss your investment options and the next steps required to open the 6 month term deposit.

Back to top Back to top Back to top

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

10 Responses to Citibank Term Deposit (Minimum $75k+)

  1. Default Gravatar
    Raj | November 30, 2016

    If I open an online term deposit Acc how do I transfer the money from another bank. Can I do this online

    • Staff
      Anndy | November 30, 2016

      Hi Raj,

      Thanks for your question.

      You can make deposits to the Citibank Term Deposit account either by cheque or by telegraphic transfer from another bank account.

      Cheers,
      Anndy

  2. Default Gravatar
    victor | November 30, 2016

    Does Citibank term deposits offer monthly interest payments on investments over $100.000 dollars.

    • Staff
      Harold | November 30, 2016

      Hello Victor,

      Thank you for your inquiry.

      Basically, the Citibank Term Deposit is a no fee, low risk investment with guaranteed returns. Lock in a competitive 2.95% p.a. The minimum investment is $75,000 and the investment term is 6 months. This rate applies to investments up to $2,000,000. The interest rate doesn’t apply on a monthly basis. It depends on the term you would want to deposit. For your reference, on this page, please navigate to the “Product details” for the list of your preferred term of deposit.

      I hope this information has helped.

      Cheers,
      Harold.

  3. Default Gravatar
    roy | November 2, 2016

    if at the end of a term deposit how can i close the a/c as there are no branches in S.A. to go to, as i understand from other banks i would have to call into a branch in person to beable to close it.

    • Staff
      Clarizza | November 3, 2016

      Hi Roy,

      Thanks for your question.

      If you wish to close your account at maturity, you must gives Citibank notice of 2 business days prior to maturity. You can do this by calling them if there are no branches in your area.

      Regards

  4. Default Gravatar
    David | October 13, 2016

    Can I open a joint account with my wife?

    • Staff
      Clarizza | October 13, 2016

      Hi David,

      Thanks for your question. Yes, you can open a joint account with your wife.

      Regards,
      Clarizza

  5. Default Gravatar
    Nevis | September 16, 2016

    Can a SMSF open your 6 month Term Deposit interest rate 3.2% and is it government guaranteed up to $25000.00
    Thanks

    • Staff
      Shirley | September 19, 2016

      Hi Nevis,

      Thanks for your question.

      Unfortunately this account is only available for personal customers. Personal accounts are covered by the Government Guarantee by Citibank.

      Hope this helps.

Ask a question
feedback