In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.

Citibank Term Deposit $10K

  • Alison Banney's headshot
Citibank Term Deposit - Closed
Interest rate 12 months interest rate
Up to 5.00% p.a.
Minimum opening deposit
$10,000
Account keeping fee
$0
Maximum deposit
$2,000,000

Summary

Choose a term length between 3 months and 5 years. You can currently earn 5% p.a. on a 12-month term.

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.

Pros

  • Competitive short-term rates
  • No set up or ongoing account fees

Cons

  • $10,000 minimum deposit is higher than others in the market
  • Not many term lengths available

In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Details

Key details

Product Name Citibank Term Deposit - Closed
3 month interest rate 4.65%
6 month interest rate 4.80%
9 month interest rate 4.90%
12 month interest rate 5.00%
24 month interest rate 4.50%
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

Eligibility

Minimum Age Requirement 18
Min Deposit $10,000
Available to children Not available for children

Must Read:

On 1 June 2022, Citi's consumer banking business was acquired by NAB. This means all bank accounts, savings accounts and term deposits are now provided by NAB, and any contract you may have with Citi is now with NAB. You can find all the details on Citi's website.

Key features

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% 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.


How to apply

Citibank Term Deposits are no longer available to open, unless you have an existing Citi branded transaction account.

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.

Compare other savings accounts

1 - 12 of 185
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
Rabobank High Interest Savings Account
Rabobank logo
Maximum Variable Rate p.a.
5.75%
Standard Variable Rate p.a.
4.35%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Earn a high interest rate of 5.75% for the first 4 months and then 4.35% thereafter, with $0 account keeping fees and no monthly balance requirements.
Ubank High Interest Save Account
Ubank logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $500
  • Savings up to $100,000
Go to siteView details
Rabobank High Interest Savings Account
Rabobank logo
Maximum Variable Rate p.a.
5.75%
Standard Variable Rate p.a.
4.35%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
4.70%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Ideal for higher balances, savers can earn up to 5.4% for the first 4 months and up to 4.7% thereafter. There are no conditions and $0 account-keeping fees.
ING Savings Accelerator ($150,000 - $500,000)
ING logo
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
4.70%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Suncorp Bank Growth Saver Account
Suncorp Bank logo
Maximum Variable Rate p.a.
5.05%
Standard Variable Rate p.a.
0.35%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance by $200 each month (excl. interest)
  • Only 1 withdrawal
  • No balance limit on earning interest
Go to siteView details
ING Savings Maximiser
ING logo
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Go to siteView details
Get 6 months free delivery and $50 Menulog credit with a new Orange Everyday & Savings Maximiser account. New ING customers only. Use code INGMENU1 and activate accounts by 24 Nov 2024. T&Cs apply.
Newcastle Permanent Smart Saver Account - Under 25s
Newcastle Permanent logo
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
0.05%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance
  • No more than 2 withdrawals
Go to siteView details
Macquarie Savings Account
Macquarie Bank logo
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.75%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Newcastle Permanent Smart Saver Account
Newcastle Permanent logo
Maximum Variable Rate p.a.
4.50%
Standard Variable Rate p.a.
0.05%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance
  • No more than 2 withdrawals
Go to siteView details
First Option Bank Savings+Bonus Account
First Option Bank logo
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
2.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $100
  • No withdrawals
  • Balances up to $249,999
Go to siteView details
Newcastle Permanent Online Savings Account
Newcastle Permanent logo
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
1.00%
Intro/Ongoing
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
loading
Showing 12 of 12 results

Compare other products from Citi

Your reviews

Not enough reviews Write a review

Ask a question

Ask a question
Avatar

Alison Finder

Editor

Hi there, looking for more information? Ask us a question.

Error label

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
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Avatar

robert

April 20, 2024

Can I open a term deposit account for my SMSF


Avatar

Sarah Megginson Finder

September 20, 2024

Hi Robert,


Yes you can. An SMSF term deposit is designed to help build your savings specifically for retirement. They work the same way as normal term deposit accounts, however they’re designed specifically for self-managed super funds, not everyday individual customers. You can review some options here.


Show more Show less
Avatar

Steve

July 09, 2023

What is the best deposit for $1000000, for between 1 -3 maybe 4 months?


Avatar

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.


Avatar

Jenny

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?


Avatar

Alison Banney Finder

June 27, 2023

Hi Jenny,

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%.


Avatar

mike

June 15, 2023

Does the $250,000 Government guarantee apply?


Avatar

Sarah Megginson Finder

June 16, 2023

Hi Mike,


Yes, Citibank is an authorised deposit-taking institution, so savings accounts and term deposits are protected by the government guarantee.


Hope this helps!


Avatar

Lucille Hamilton

February 23, 2023

I am retired so no longer have a Tax file No. Will tax be withheld on interest earned?


Avatar

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.


Thanks


Show more Show less
Go to site