Citibank Term Deposit $75,000

Citibank Term Deposit $75,000

Min. Opening Deposit

75,000

Account Keeping Fee

0.00
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Find out about Citibank’s prestige term deposit interest rate on investments from $75,000 to $250,000.

  • Competitive 2.80% 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 2.80% p.a. The minimum investment is $75,000 and the investment term is 6 months.

The below rates apply to investments from $75,000 to $250,000.

Product Name
Citibank Term Deposit $75,000
6 month interest rate
2.80%
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 2.80% p.a. interest when you invest  $75,000 and more 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 2.80% p.a. on a 6 month term deposit for balances $75,000 and more

Your term deposit balance will accrue interest at 2.80% p.a. The 2.80% 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 $250,000

The 2.80% p.a. rate of interest applies to balances  from $75,000 to $250,000.

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

  • Guaranteed returns over a fixed 6 month term on balances from $75,000
  • Competitive 2.80% 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 2.80% 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.

If you have a bigger deposit, you can consider the Citibank $250,000 Term Deposit. With this account, by depositing $250,000 or more for 6 months you'll earn a very competitive 3.00% p.a..

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 minimum of $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.

 

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25 Responses

  1. Default Gravatar
    RonJuly 18, 2017

    Hi

    Can SMSF use your TD’s

    Do I need to set up a Citibank bank account ?

    Any more conditions

    • Staff
      JonathanJuly 19, 2017Staff

      Hello Ron,

      Thank you for sending your inquiry today. :)

      Time Deposits cannot be linked to SMSFs. If you wish to have a deposit account to park your funds, you may consider opening a Cash Management Account or an Online Superannuation Account for this purpose.

      Please review the requirements for account opening and their Product Disclosure Statement for complete guidance.

      Hope this helps.

      Cheers,
      Jonathan

  2. Default Gravatar
    WernerJuly 14, 2017

    I would like to invest AUD 180.000 on 7 August 2017 in Citibank Term Deposit for a period of 6 months. at 2,8% p.a. to be confirmed Prior to locking the rate in. The funds will be available on that day in a Citibank Cash Management Account in Sydney which I had for a Long time. Currently, I am in Germany.
    1. Is the full amount 100% safe and guaranteed?
    2. What do I need to do to have all formalities attended to Prior to 7 August 2017?
    3. Please provide me with the Name and email address of a Citibank contact Person/expert by return email.
    Thank you.

    • Staff
      LiezlJuly 15, 2017Staff

      Hi Werner,

      Thanks for your question. Just to confirm, you have reached finder, not actually Citibank and neither do we represent them.

      Deposit of up to $250,000 per person, per institution, is covered by the government guarantee. To proceed with your term deposit application, please complete the form on this page and a representative from Citibank will call you back within 48 hours. Alternatively, you may call them directly at the number listed on that page to enquire.

      I hope this has helped.

      Kind regards,
      Liezl

  3. Default Gravatar
    steveMay 23, 2017

    best rate for 1,700,000

    • Staff
      JonathanMay 24, 2017Staff

      Hi Steve!

      Thank you for the comment.

      The best interest rate for a term deposit would actually differ depending on the term of investment and the TD account you go with. So to compare the rates that could possibly give you the highest possible interest earnings for 1,700,000, please use the calculator found on this page and then indicate the period of investment for that amount.

      Once you’ve found the TD account you want to open, please check the eligibility criteria and click on the “Go to site” button to be redirected to the application page.

      Cheers!

      Jonathan

  4. Staff
    AnndyMay 23, 2017Staff

    Hi Ken,

    Thanks for your question.

    If you are interested to open a Citibank Term Deposit account, they only have a maximum term of 6 months, with a competitive rate 2.80% p.a.

    To compare 12-month term deposit accounts, you can check this page. Using the table on that page, the highest rate that you can get for a 12-month term deposit is 2.85% p.a with ME. You may also take advantage of the calculator on the page to see how much interest you’ll earn per term deposit account.

    Cheers,
    Anndy

  5. Default Gravatar
    douglasMay 18, 2017

    can you have term deposit for SMSF

    • Staff
      MayMay 18, 2017Staff

      Hi Douglas,

      Thank you for your inquiry.

      I’m afraid that the Citibank Term Deposit $75,000 is only available for personal or individual customers. Although if you like to invest your super with Citibank, you can contact them directly to discuss your options.

      Meantime, the account listed on this page would allow you to have your SMSF invested in it.

      Cheers,
      May

  6. Default Gravatar
    debMay 8, 2017

    What is Citibank’s rate on Self-managed Superfunds?

    • Staff
      HaroldMay 9, 2017Staff

      Hi Deb,

      Thank you for your inquiry.

      For your your options on Self-Managed Super Fund (SMSF) you may want to consider the listings on this page for your comparison.

      I hope this information has helped.

      Cheers,
      Harold

  7. Default Gravatar
    BobApril 24, 2017

    Can SMSF funds be invested in a Citi Bank term deposit?

    • Staff
      AnndyApril 25, 2017Staff

      Hi Bob,

      Thanks for your question.

      Unfortunately this account is only available for individual or personal customers.

      If you are looking for an SMSF term deposit account, you can check your options on this page.

      Cheers,
      Anndy

  8. Default Gravatar
    LilyJanuary 30, 2017

    Hi, I would like to open a joint term deposit account. Is it possible if I am an Australian Citizen but my partner is European?

    Thank you.

    • Staff
      MayJanuary 30, 2017Staff

      Hi Lily,

      Thanks for your question.

      One of the eligibility requirements to be able to open a Citibank Term Deposit account is that you must be an Australian resident. Since you are applying jointly, then both of you should be Australian residents.

      Cheers,
      May

  9. Default Gravatar
    RajNovember 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
      AnndyNovember 30, 2016Staff

      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

  10. Default Gravatar
    victorNovember 30, 2016

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

    • Staff
      HaroldNovember 30, 2016Staff

      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.

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