Citibank Online Saver Account Review and Application

Six months can be a long time, and even longer if you are saving up and going without to meet a savings goal for an important purchase. So instead of stretching yourself to meet a savings goal in six months, you should consider taking advantage of the introductory rate on the Citibank Online Saver account because you can earn 1.20% for the first six months your account is open, helping you reach your goals faster with the help of higher interest returns instead.

Citibank Online Saver Account

Citibanks high interest savings account is a great entrant into the Australian savings space and is really helping to keep the banks honest with their high rates.

• Variable Rate of 6.45% p.a.
• Reverts back to Standard Variable Rate of 5.25% p.a.
• Monthly account keeping fees: FREE

Click here to read the Citibank Online Saver terms and conditions

Citibank Online Saver Account

Savings Account	Account Details	Intro Rate + Base p.a.	Base Rate p.a.	Intro Rate p.a.	Fees	Min Balance/Min Deposit
Citibank Online Saver	One of the highest promo rates on the market.	6.45%	5.25%	1.20%	FREE	$50/$20

Top features of the Citibank Online Saver:

• A simple online application so you can be saving right away.
• No minimum balance required to open the account, or to earn the bonus interest rate.
• A fee free online savings account.
• A competitive 6.45% bonus variable interest rate for the first six months of your account.
• A high standard rate after six months, currently 5.25% variable.

How You Can Benefit From the Citibank Online Saver High Interest Account

Opening an online savings account is a great start to help you achieve a particular savings goal, or to simply get you into the habit of saving, rather than spending. However, opening the account is just the first step, you still need to know about the features and benefits of an online high interest savings account, and how to make the most of them.

Features and benefits of the Citibank Online Saver include:

• An online application form. This means you can apply for a new Citibank Online Saver account in less than ten minutes and be earning interest on your savings as soon as the next business day. Rather than having to wait in line at a branch or hang around on hold with a bank, you can apply online whenever you have a few spare minutes, plus, if you’re already a Citibank customer the application is even quicker.
• You’re not required to have or maintain a minimum balance. So no matter what your financial situation or your savings goal, you don’t have to feel excluded because your deposit is not large enough. Instead, you can use a Citibank Online Saver to give your savings a boost in the first six months, at the end of which you may have reached a goal balance for a special purchase, or you now have enough funds to look at higher yield investment options.
• Fee free saving. With the Citibank Online Saver account you don’t have to worry that this offer is too good to be true, because there are no hidden fees to open the account and you won’t be charged any transaction fees by Citibank for making deposits or withdrawals from your account.
• A six month promotional interest rate. Being able to earn 6.01% interest on your savings for an entire six months after you open a Citibank Online Saver account gives you a real opportunity to kick start a savings plan. A six month promotional interest rate period is also much longer than the promotional period you will find with any other online savings account and is perfect if you have a short to medium goal like a holiday or a home renovation.
• You can link to any existing personal bank account. You don’t have to nominate a Citibank transaction account as the linked account for your Online Saver account, you can link to any personal account you already have so you don’t have to switch transaction account providers if you are happy. Plus, linking to a non-Citibank account means that while your funds are at call and available if you need them in an emergency, they are not immediately available and this means there is less chance you’ll make an impulse buy, with an instant savings transfer.
• Your savings are at call. While you are able to earn an interest rate comparable to most fixed term deposit accounts, you still have access to your funds and you won’t be penalised with fees or lower interest rates for accessing your savings. You can also manage your account entirely online, at any time of the day or night to make transfers in or out, or just to monitor your progress.
• You can set up direct deposits to your savings account. Not only can you set up an automatic savings plan from your transaction account to your Citibank Online Saver, you can even have your wages or other interest income deposited directly into your Online Saver, so you don’t have to remember to make the transfer, and you’re not tempted to spend your savings before they reach your savings account.
• Anyone over 18 can open a Citibank Online Saver. This means that just about anyone with any income stream can start a regular savings plan with a high interest online account from Citibank. You can even open the account in joint names to boost your contributions from two wages, or encourage your children to open an Online Saver when they finish school and start working to get them into good financial habits for life.

You can apply for a Citibank Online Saver online by following our secure link. You’ll then receive a confirmation email informing you of your account status, and including all the details you need to make your first transfer and start earning your bonus interest.

Terms & Conditions apply and are available on request

1. The variable introductory rate, currently 6.45% p.a. on balances between $0 to $1,999,999.99 (and 5.25% p.a. for your full balance whenever the balance is beyond $2,000,000), is offered for 6 months from the date of account opening and is applicable on the first Citibank Online Saver that you open. At the end of the 6 month offer period you will automatically receive the standard variable rate, currently 5.25% p.a. Rates are effective 5 February 2010 and are subject to change at any time.

2. While no account fees are payable on your Citibank Online Saver, fees may apply to your nominated linked account. Please check with the financial institution where your nominated linked account is held. For service fees that might apply, please refer to the Schedule of Fees and Charges.

3. Balances of $1 million or less will automatically access the Australian government guarantee without being subject to a fee until 12 October 2011.

Any advice is general advice only. It was prepared without taking into account your objectives, financial situation, or needs. Before acting on this advice you should consider if it’s appropriate for your particular circumstances.

Details on our dispute resolution system and full details of the terms and conditions are available by calling 13 24 84 or at citibank.com.au. Citibank Online Saver is issued by Citigroup Pty Limited ABN 88 004 325 080 AFSL 238098 (“Citibank”). You should consider whether or not this product is appropriate for your particular circumstances. ¬© 2009 Citigroup Pty Limited. Citibank¬Æ, Citi¬Æ, Citi never sleeps and Arc Design¬Æ are service marks of Citigroup Inc.