Through the Citibank Step-Up Account, you will earn more interest when your savings increase. Additionally, you will also have immediate access to your savings.
Features and Benefits of Citibank Step-Up Account:
- Step-Up Interest – When you start saving your salary, you will earn a base interest rate of 0.01% p.a. and a step-up interest rate of up to 0.13% p.a. as and when you increase your savings in this account.
- You will have access to ATMs situated at SMRT stations across the island and millions of VISA PLUS ATMs worldwide.
- You will receive a Debit Card equipped with Visa point-of-sale facility for debit payments.
Additional Features and Benefits of Citibank Step-Up Account:
- This account requires an initial deposit of a minimum amount of S$2,000.
- Checking facilities for this savings account include the following:
- Issuance of personalized cheque books. The first cheque book issued upon opening the account is free. Each additional cheque book thereafter will cost S$15.
- Cheque imaging printing available free of cost on your monthly statements that will help you track and monitor your account activity conveniently.
- Online Banking facility includes Pay Anyone online cheque payment service. You can also transfer funds directly between different accounts.
- Phone banking facility includes access to Automated Voice Response and CitiPhone Banking.
- You will receive an International ATM Card upon opening this savings account which will have access to more than 1.4 million Visa PLUS ATMs across the globe.
How Step-Up Interest works:
- When you open the step-up account, your account will earn a base interest rate of 0.01% p.a.
- This interest will step-up over a period of 12 months up to 0.13% p.a. as and when the balance in your account consecutively increases.
- If the minimum balance of the current month is lesser than that of the previous month, then depending on the minimum balance in your savings account, your step-up counter will reset to 9, 6 or 0.
- After completing all the step-up counters (over a period of 12 months), you will have to maintain at least S$20,000 as minimum balance OR ensure that the minimum balance of each month is greater than that of the previous month in order to continue benefiting from the higher interest rate of 0.13%.
Eligibility Criteria for Citibank Step-Up Account:
The following individuals are eligible to apply for Citibank Step-Up Account:
- Applicants who are at least 18 years of age and above.
- Applicants who are Singapore Citizens or Permanent Residents.
Documentation Criteria for Citibank Step-Up Account:
To be eligible to apply for Citibank Step-Up Account, you must submit the following documents:
- You must submit a front and back copy of your NRIC.
- If your address is not the same as mentioned on your NRIC, you must also submit your most recent telephone bill copy as Address Proof.
- You must submit your CPF statement for the last 12 months online by following the link provided on the Citibank Checking and Savings Account Application Form web page of the official Citibank Singapore website. If you are unable to submit your statement online, you must complete your application by visiting your nearest Citibank bank branch.
Applying for Citibank Step-Up Account:
- You must email the above requested documents to the email address provided on the Citibank Checking and Savings Account Application Form web page of the official Citibank Singapore website.
- If you are unable to submit your documents online, you can visit your nearest Citibank bank branch and apply for Citibank Step-Up Account directly in person.
- Once you submit your application form along with the required documents, the bank will respond to you within 2 business days and provide you with an update.