Citi Singapore Launches New Foreign Currency Time Deposit Promotion

Citibank launches foreign currency time deposit promotional offer for January 2018, with minimum deposit starting as low as S$10,000.

BankBazaar Singapore – January 5, 2018

SINGAPORE: Citibank has announced a new promotional offer on foreign currency time deposits. Under the promotion, the bank said it is offering interest rates of up to 1.70% p.a. on three-month deposits and up to 1.50% p.a. on one-month deposits. The offer is valid till 31 January 2018.

The minimum deposit required to be eligible to for this promotion is S$10,000. The maximum amount that is allowed as deposit under this promotional offer is S$1 million. The deposits are available in three currencies – US Dollar, Australian Dollar, and New Zealand Dollar.

Currency Promotional interest rates on 3-month time deposits Promotional interest rates on 3-month time deposits
AUD 1.50% p.a. 1.30% p.a.
NZD 1.70% p.a. 1.50% p.a.
USD 1.20% p.a. 1.00% p.a.

Citibank said the offer applies only to new funds, which mean funds that are deposited from outside the bank, and lead to an increase in the average daily deposit balance for the month preceding the fixed deposit placement month. The offer is applicable to Citibanking and Citi Priority customers in Singapore.

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