• 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 Time Deposit Interest Rate

    Singapore Dollar Time Deposit Interest Rates

    For a deposit amount between SGD 10, 000 and up to SGD 3, 00, 000, please find below the interest rates for different tenures -

    Tenure Deposit Amount
    SGD 10,000 – SGD 50,000 SGD 50,000 – SGD 100,000 SGD 100,000 – SGD 250,000 SGD 250,000 - SGD 500,000 SGD 500,000 SGD 750,000 SGD 750,000 – SGD 1,000,000 SGD 1,000,000 – SGD 3,000,000
    Interest Rates
    1 week 0.500% per annum 0.500% per annum 0.500% per annum 0.500% per annum 0.500% per annum 0.500% per annum 0.500% per annum
    2 weeks 0.500% per annum 0.500% per annum 0.500% per annum 0.500% per annum 0.500% per annum 0.500% per annum 0.500% per annum
    1 month 0.500% per annum 0.500% per annum 0.500% per annum 0.500% per annum 0.500% per annum 0.500% per annum 0.500% per annum
    2 months 0.800% per annum 0.800% per annum 0.800% per annum 0.800% per annum 0.800% per annum 0.800% per annum 0.800% per annum
    3 months 0.800% per annum 0.800% per annum 0.800% per annum 0.800% per annum 0.800% per annum 0.800% per annum 0.800% per annum
    6 months 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum
    12 months 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum
    24 months 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum
    36 months 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum 0.1000% per annum

    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.

    Citibank Fixed Deposit FAQs

    1. What are the tenure options available for foreign currency time deposits?
    2. The available tenure options are 1 week and 1,2,3,6,9,12 months.

    3. Is online banking and phone banking facility provided for Citibank time deposit accounts?
    4. Yes. To offer utmost convenience to all its customers, Citibank offers online and phone banking facilities.

    5. Can I make a foreign currency time deposit in Hong Kong dollars?
    6. Yes. Foreign currency time deposits can be made in 11 currencies including Swiss Franc, Australian and New Zealand dollar and Hong Kong Dollars.

    7. How do I find out the board rate for S$ time deposits offered by Citibank?
    8. 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.

    9. What is the minimum deposit amount for foreign currency time deposits?
    10. The minimum deposit should amount to S$10,000 in the currency that you are making the 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.

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