• Citibank Fixed Deposit

    When it comes to making an investment that is safe, easy and has no associated risk factor, time deposit is the best option. Time deposits, also known as term deposits, provide a simple way to earn returns on your spare money. In a time deposit scheme, a principal amount is deposited for a pre-determined tenure and interest is paid at the end of the tenure.

    Citibank Fixed Deposit Rates

    Citi bank time deposits are of two kinds – one for S$ and the other for foreign currency, providing a range flexible options to the customers.

    About Citibank Time Deposit Singapore

    Citigroup is a renowned global leader in banking and financial services that has its headquarters in New York. Citibank, Citigroup’s consumer division of financial services, was established in 1812 as the City Bank of New York. Citibank operates in more than 160 countries and jurisdictions serving over 200 million happy customers. Citibank has more than 4600 branches worldwide. Citibank Singapore Limited is a wholly-owned subsidiary of Citigroup and was established in the year 1902. Initially known as the International Banking Corporation (IBC), it was the first American bank to open an operating branch in Singapore.

    In Singapore, Citibank was the first banking institution to popularize the use of ATM’s in the 1980’s. Dedicated to assisting customers achieve their financial goals, Citibank established the global consumer banking division in 1982. Even though Citibank made a late entry to the retail banking sector, Citibank was awarded a Qualifying Full Bank (QFB) license by the Monetary Authority of Singapore in 1999. Citibank Singapore caters to the banking and business needs of an elite clientele list extending its services in areas like lending, investment management, secured assets, deposits and insurance. As a proof of its outstanding service quality, the bank was adjudged as the Best Bank in Singapore by Euro money in the year 2009.

    Citibank Fixed Deposits come with unique advantages like various tenure options, competitive interest rates and 24/7 helpline to get all your queries answered instantly.

    Why Choose Citibank Time Deposit?

    Citibank time deposit schemes are unique and customer-centric that comes in two types – S$ Time Deposit and Foreign Currency Time Deposit which are individually designed to satisfy the customer requirements. Unlike other deposit schemes that require a huge initial deposit amount, you can start a time deposit scheme with Citibank by depositing S$10,000 only. Other benefits like flexible tenure options and attractive interest rates only makes this investment option all the more rewarding.

    Features and Benefits of Citibank Time Deposit

    Below are some of the features of Citibank time deposits that makes it one of the most popular investment-product for Singaporeans.

    • Best Interest Rates

      Citibank offers the best-in-the-market interest rates for time deposit schemes depending on the principal amount and the tenure.

    • Minimum Initial Deposit

      Only S$10,000 is required to start a time deposit scheme with Citibank.

    • Flexible Tenures

      Tenures ranging from 1 month to a maximum of 36 months are offered to the customers.

    • Citibank Online<

      With Citibank’s online banking facility, customers can manage their time deposit accounts with ease.

    • Unparalleled Customer Service

      To help customers with queries regarding the time deposit accounts and services, a personal banker is reachable at CitiPhone’s helpline 24/7.

    Types of Citibank Time Deposit

    S$ Time Deposit Scheme

    In Citibank’s S$ time deposit scheme, a customer can invest in S$ and earn interest on the amount deposited. Varied tenures ranging from 1 week to 48 months are offered for S$ time deposit schemes. Also, facilities like online banking and phone banking are offered to the customers to view and place time deposit orders from the comfort of their homes. The board rate for S$ time deposits are determined based on the deposit amount and tenor.

    To start S$ time deposit scheme with Citibank, the customer should open a corresponding checking and savings account.

    Foreign Currency Time Deposit

    With a choice of 11 foreign currencies, this time deposit scheme promises the potential to earn higher interest rates than S$ deposits. With tenures ranging from 1 week to 12 months, Citibank foreign currency time deposit offers the maximum flexibility to the customers. Citibank also offers facilities like phone banking and online banking to its customers. This scheme is available for foreign currencies like Euro, Australian Dollar, New Zealand Dollar, Sterling Pound, Canadian Dollar, Swiss Franc, Japanese Yen, Hong Kong Dollar, US Dollar, Offshore Renminbi and South African Rand.

    Foreign Currency Time Deposit

    With a choice of 11 foreign currencies, this time deposit scheme promises the potential to earn higher interest rates than S$ deposits. With tenures ranging from 1 week to 12 months, Citibank foreign currency time deposit offers the maximum flexibility to the customers. Citibank also offers facilities like phone banking and online banking to its customers. This scheme is available for foreign currencies like Euro, Australian Dollar, New Zealand Dollar, Sterling Pound, Canadian Dollar, Swiss Franc, Japanese Yen, Hong Kong Dollar, US Dollar, Offshore Renminbi and South African Rand.

    How to Apply for Citibank Time Deposit Schemes

    • If you hold an active current or savings account with Citibank, contact the nearest branch or get in touch with a personal banker on CitiPhone helpline to proceed further with the time deposit application.
    • If you are not an existing Citibank customer, fill an online application form with contact details and Passport/NRIC number. Within three working days, Citibank will get in touch with you and help you open a time deposit account.
    • You might be asked to submit ID proof, address proof and other documents in order to open an account with Citibank. Do enquire with the bank about the documentation requirement.

    Citibank Singapore Dollar Fixed Deposit Interest Rates 2017

    Note: All rates are updated as on 4 September 2017.

    Amount in SGD

    S$10,000 – S$50,000

    S$50,000-S$100,000

    S$100,000 – S$250,000

    S$250,000 – S$500,000

    S$500,000 – S$750,000

    S$750,000-S$1,000,000

    S$1,000,000 – S$3,000,000

    Interest rate (p.a.)

    1 week

    0.05%

    0.05%

    0.05%

    0.05%

    0.05%

    0.05%

    0.05%

    2 weeks

    0.05%

    0.05%

    0.05%

    0.05%

    0.05%

    0.05%

    0.05%

    1 month

    0.05%

    0.05%

    0.05%

    0.05%

    0.05%

    0.05%

    0.05%

    2 months

    0.08%

    0.08%

    0.08%

    0.08%

    0.08%

    0.08%

    0.08%

    3 months

    0.08%

    0.08%

    0.08%

    0.08%

    0.08%

    0.08%

    0.08%

    6 months

    0.1%

    0.1%

    0.1%

    0.1%

    0.1%

    0.1%

    0.1%

    12 months

    0.1%

    0.1%

    0.1%

    0.1%

    0.1%

    0.1%

    0.1%

    24 months

    0.1%

    0.1%

    0.1%

    0.1%

    0.1%

    0.1%

    0.1%

    36 months

    0.1%

    0.1%

    0.1%

    0.1%

    0.1%

    0.1%

    0.1%

    Citibank Foreign Currency Fixed Deposit Interest Rate 2017

    Citibank offers Foreign Currency Time Deposits in different currencies including the US Dollar, Australian Dollar, New Zealand Dollar, South African Rand, the Hong Kong Dollar, the Swiss Franc, Japanese Yen, offshore Renminbi and the Euro. The interest rates of the bank’s foreign currency time deposits are not listed publicly. You may have to contact Citibank for further information.

    Available tenures

    1 week, 1 month, 2 months, 3 months, 6 months, 9 months, 12 months

    Minimum deposit amount in equivalence to the SGD

    S$10,000

    Fixed Deposit Schemes offered by Citibank in Singapore

    Singapore Dollar Time Deposit

    • Citibank offers the Singapore Dollar Time Deposit scheme that allows you to make an FD placement in a tenure of your choice – tenures need to be chosen from available options.
    • The minimum amount that needs to be deposited is S$10,000 for all available tenures. Citibank is one of the few banks that has such a high minimum deposit requirement.
    • Your deposits are covered by the Deposit Insurance Scheme for an amount of up to S$50,000. Amounts above S$50,000 aren’t covered by the scheme – the Monetary Authority of Singapore (MAS) introduced the Deposit Insurance Scheme to secure deposits of Singaporeans.
    • You need to be a Singaporean, a Permanent Resident or a foreigner if you wish to open an FD account with Citibank.
    • You can make premature withdrawals from your Time Deposit Account. However, if you do that, the interest earned will be greatly reduced.
    • The interest you earn is subject to tax if you are a non-Singaporean.
    • In order to open a Singapore Dollar Time Deposit Account, you need to be at least 18 years of age.

    Foreign Currency Time Deposit

    • You get to choose from as many as 11 foreign currencies. Citibank offers Foreign Currency Time Deposits in different currencies including the US Dollar, Australian Dollar, New Zealand Dollar, South African Rand, the Hong Kong Dollar, the Swiss Franc, Japanese Yen, offshore Renminbi and the Euro.
    • The minimum amount that needs to be deposited is S$10,000.
    • Tenures available fall in the range between 1 week and 12 months – you can choose a tenure of your liking.
    • The deposits in your foreign currency account are not insured under the Deposit Insurance Scheme regulated by MAS.
    • You can make premature withdrawals from your foreign currency account with a reduced interest rate earning. In certain cases, penalties will also be applicable.
    • You will need to open a savings account, a current account or a checking account with the bank in order to open an FD account.

    Citibank Time Deposit Insurance Scheme

    By law, the Singapore Deposit Insurance Corporation (SDIC) insures the Singapore dollar deposits of non-bank depositors for up to S$50,000 in aggregate. However, it is important to note that the foreign currency deposits are not insured by SDIC under this deposit insurance scheme.

    FAQs

    1. What are the tenure options available for foreign currency time deposits?

      The available tenure options are 1 week and 1,2,3,6,9,12 months.

    2. Is online banking and phone banking facility provided for Citibank time deposit accounts?

      Yes. To offer utmost convenience to all its customers, Citibank offers online and phone banking facilities.

    3. Can I make a foreign currency time deposit in Hong Kong dollars?

      Yes. Foreign currency time deposits can be made in 11 currencies including Swiss Franc, Australian and New Zealand dollar and Hong Kong Dollars.

    4. How do I find out the board rate for S$ time deposits offered by Citibank?

      The board rate for Citibank S$ time deposit scheme depends on the tenure and the deposit amount. You can use the calculator in Citibank website to find out the prevailing board rates for the specified tenure and deposit amount.

    5. What is the minimum deposit amount for foreign currency time deposits?

      The minimum deposit should amount to S$10,000 in the currency that you are making the deposit.

    6. Is it possible to close my Fixed Deposit Account before the tenure matures?
    7. Yes, you can close your FD account before the maturity date. However, the interest you will receive will be much lesser than originally promised.

    8. Can I convert my FD Account (personal) to a joint account?
    9. Yes, you very much can. In order to do this, you will need to contact the bank.

    10. Will the interest earned on my FD account attract tax?
    11. If you are a non-Singaporean, you will have to pay tax – withholding tax or income tax – on the interest earned in your FD account.

    12. Is tax applicable on the interest earned on Foreign Currency Time Deposit account?
    13. If you are a non-resident of Singapore or foreigner, then you do not have to pay income tax or withholding tax in Singapore on the interest earned on your Foreign Currency Time Deposit.

    In conclusion, if you have some spare money in your lockers, put them to good use and earn interest by investing the amount in Citibank time deposit scheme. With over a century’s experience in banking, you can be sure that your hard-earned money is well taken care of at Citibank.

    News About Citibank Fixed Deposit

    • Total Wealth Adviser launched by Citibank Singapore

      Total Wealth Adviser is a goals based planning tool which measures performance by the success of investment by meeting the client’s personal goals. The tool targets Citigold customers whose assets under management are $200,000 to $1 million. Customers can monitor their different goals. The tool gives the customer a comprehensive overview of the liabilities and long and short term assets. Clients are also allowed to map goals to portfolio based on the risk tolerance. The aim is to produce an investment portfolio which performs in line with the customers’ expectations. The focus will be shifted from defining performance as return against a benchmark to the short term performance to a customer’s goal.

      20th September 2016

    • Citibank FD Promotion

      Runtime: This is an ongoing promotional offer. This will continue till 29th February, 2016

      Particulars: Avail interest rate of 1.60 percent per annum with SGD Time Deposits.

      The table below will provide you with details about Foreign Currency Fixed Deposit Rates of Interest (Promotional)

      Currency 1 month (per annum) 3 months (per annum)
      AUD 2.00 percent per annum 2.20 percent per annum
      USD 0.30 percent per annum 0.50 percent per annum
      NZD 2.80 percent per annum 3.00 percent per annum
      CNH 4.50 percent per annum 4.70 percent per annum
      ZAR 5.00 percent per annum 5.20 percent per annum

      Terms and Conditions

      To know more about the terms and conditions, please, get in touch with the bank.

    • Citibank Deposit Promotion

      Runtime: Till 31 Dec, 2015

      Particulars: Citibank InterestPlus Savings Account

      Enjoy a bonus interest rate of 2.5 percent per annum along with Shopping Vouchers worth S$200.

      Fixed Deposit Promotion

      Enjoy a promotional rate of 1.35 percent per annum for a period of 9 months for Singapore Dollar time deposits, when you deposit fresh funds. You will need to deposit a minimum amount of S$50,000 to avail this offer. The maximum deposit allowed per customers is S$5,000,000.

      You will also enjoy higher interest rates of 2.05 percent per annum to 4.70 percent per annum for deposits made in foreign currencies such as AUD, NZD, USD, CNH and ZAR for a period of 1 month to 3 months.

      New Funds Promotion

      Deposit fresh funds to your Citibank Bank Accounts and enjoy Shopping Vouchers worth S$40 to S$500 for deposit amounts of S$50,000 to S$499,999.

      Please contact Citibank Singapore to know about all the applicable terms and conditions.

    Fixed Deposits from Top Banks
    Foreign Currency Fixed Deposits from Top Banks
    Currency Specific Fixed Deposit
    US Dollar Foreign Currency Fixed Deposit by Bank
    Australian Dollar Foreign Currency Fixed Deposit by Bank
    GBP Foreign Currency Fixed Deposit by Bank
    NZD Foreign Currency Fixed Deposit by Bank
    Euro Foreign Currency Fixed Deposit by Bank
    Canadian Dollar Foreign Currency Fixed Deposit by Bank
    Fixed Deposit Promotion by Banks
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.