Product details
This six month term deposit and investment offer is for eligible wholesale investors with a deposit of at least $250,000. By splitting your deposit between the six-month term deposit and eligible investment products with Citibank, you’ll receive a competitive interest rate of 3.88% p.a. on your term deposit balance.
Strict eligibility criteria apply for this product. Read on to learn the eligibility criteria and the features of this account.
Wholesale investors are those with a gross income over $250,000 a year or with net assets of at least $2.5 million.
- Product Name
- Citibank Term Deposit 250K (Wholesale investors)
- 6 month interest rate
- 3.88%
- Min Deposit
- $250,000
- Minimum Age Requirement
- 18
Features
Eligible wholesale investors only
Citibank Term Deposit and Investment offer $250,000+ is available for eligible wholesale investors only. A wholesale investor needs to have a gross income of at least $250,000 annually for the previous two years or net assets of at least $2.5 million. An accountant must verify that you meet this criteria. If you're looking to deposit less than $250,000, or you do not meet the criteria of a wholesale investor, Citibank's standard term deposit product may be more appropriate for you.
Deposit split between term deposit and investments
You need a deposit of at least $250,000 to apply for this offer, with at least half of your total outlay in eligible investment products. Eligible investment products include structured products, managed funds and bonds. These investment products are not guaranteed and are subject to investment risk.
Earn a competitive 3.88% p.a. on a six month term deposit
By splitting your balance between the six month term deposit and eligible investment products, you’ll earn a highly competitive interest rate of 3.88% p.a. on the funds in your term deposit.
Minimum balance of $250,000
This account is only available to customers who have a minimum of $250,000 to invest. If you have a smaller deposit, you may like to consider an alternative term deposit product.
Terms of six months
The term deposit offer is for terms of six months. You will need to give 31 days’ notice if you wish to access your funds.
No account-keeping fees
There are no set-up or account-keeping fees on the term deposit, but fees may apply to the investment products.
Pros
- Competitive interest rate available on the term deposit
- No set-up or account-keeping fees for the term deposit
Cons
- $250,000 minimum investment required
- Strict eligibility criteria
- Investment products come with risks and are not guaranteed
How to apply
What you’ll need to know before applying
You can apply for this offer by filling in an inquiry form online. Simply enter 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.
Eligibility criteria
- 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 of $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
- 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. When you apply, you will need 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.
