Citibank can trace its presence in Singapore back to 1902. From its early days of trade financing, Citibank has grown to cater to a multitude of segments with their most promising venture yet being in consumer banking. Through its vast experience, Citibank offers its consumers a complete assortment of financial solutions to cater to their various needs be it to save, transact, acquire credit, or to invest their wealth. Among the simplest of its investment products are the fixed deposits, which allow you to deposit your hard-earned money safely for a specific period. These fixed or time deposits not only allow you to save your cash but also earn interest on it and make your savings grow.
Citi Time Deposit Promotions (Updated) in Singapore
SGD 3-Month Time Deposit Investment Bundle Promotion
- Under this promotion, you can earn up to 2.50% p.a. interest on 3-month SGD fixed deposits when you invest in structured notes, unit trusts, or bonds with Citibank.
- You can choose from two offers: (1) Invest in Citibank distributed structured notes, bonds, or unit trusts (with net sales charge of minimum 1%) and earn 2.5% p.a. on 3-month deposit of at least S$50,000. (2) Opt for Unit Trust transfer-in, where securities will be credited into your Citi investment account before the time deposit is valued, and earn 1.6% p.a. on 3-month deposit of at least S$50,000.
- You must invest at least S$25,000 to be eligible to earn promotional rates on time deposits.
- The promotion ends on 31 May 2018.
|Offer Type||Minimum Time Deposit||Maximum Time Deposit||Promotional Deposit Rate|
|Investment offer||S$50,000||Double the amount of investment placement or S$5 million, whichever amount is lower||2.5% p.a.|
|Unit Trust transfer-in offer||S$50,000||Double the amount of Unit Trust or S$5 million, whichever amount is lower||1.6% p.a.|
Fixed deposit Promo accounts offered by Citibank
Citibank offers two kinds of time deposit accounts:
- Singapore Dollar Fixed Deposit: This is specifically for deposits made in Singapore dollars. This FD has more flexibility in tenures and deposit amounts.
- Foreign Currency Fixed Deposit: This term deposit is only for foreign currencies, and each currency will yield a different interest rate depending on its market value. You can make deposits from a selection of 11 different foreign currencies such as US Dollar, Canadian dollar, Australian dollar, New Zealand dollar, Hong Kong dollar, Sterling Pound, Euro, Swiss Francs, Japanese Yen and Offshore Renminbi.
Why choose Citibank fixed deposits?
Here are some of the reason why Citibank term deposit products are one of the best in Singapore:
- You get flexibility in duration of your deposit. The deposits can be made for 1 week to 48 months for Singapore dollar FDs and for 1 week to 12 months for foreign currency FDs.
- The interest rate offered by Citibank is competitive.
- You can link your account to Citibank Internet Banking and operate the account online with no hassle.
- Fixed deposits of up to S$50,000 at Citibank are insured against loss under the Deposit Insurance Scheme of Singapore Deposit Insurance Corporation.