Citibank Term Deposits

Citibank Term Deposits

Citibank is part of the Citigroup, one of the world’s largest financial services organisations. Citibank has been operating in Australia since 1985, and it was the first foreign bank to be granted a banking license for Australia. As well as the security of such a big, established name you can feel sure your term deposits will be secure as your Citibank term deposit is eligible for the Government’s Deposit Guarantee.

The Australian Government has pledged to guarantee all investments, deposits and savings of up to $1 million per person, until October 2011. Other benefits of a Citibank term deposit investment include:

• No opening fees or account keeping fees.
• A minimum investment of just $10,000 is required.
• Interest can be paid monthly, quarterly, annually or at maturity.
• Higher interest rates are offered on larger investments.
• Investments can be made in foreign currencies, and you have the option to change the currency at any time.

Who Should Open a Citibank Term Deposit Account?

Term deposits are a secure and reliable investment for a range of financial circumstances as you know your rate of interest and the amount of return you can expect, right from the beginning. Plus, your funds are locked away where you won’t be tempted to spend them and diminish your investment.

Additional benefits of a Citibank term deposit:

• Citibank is part of an internationally accessible financial organisation. Therefore, not only can you feel secure in trusting an established investment name, but you can also make investments in a number of currencies, and change those currencies during the term of your investment. This feature may suit international travellers or those who do business overseas and accept payments in other currencies. Rather than paying to convert the currencies, you can invest them directly with Citibank as they are.
• You have the option to change the currency of your investment. Again, this may suit the international businessperson or traveller as you can have access to your funds in a variety of countries, or you can simply change the currency of your investment during the term, to take advantage as currencies weaken or strengthen.
• The more you invest, the higher your interest rate. The minimum investment for a Citibank term deposit is $10,000, but a secondary tier of interest rates is available for investments over $25,000 to earn you even greater returns.

Features of a Citibank Term Deposit Account

• Your returns are guaranteed from the time you open your term deposit account.
• There are no opening costs or account keeping or transaction fees applicable to your Citibank term deposit.
• You can open and use a Citibank term deposit in a variety of currencies.
• A minimum opening deposit of $10,000 is required for the promotional rates.
• Interest is calculated daily.
• Returns can be paid monthly, quarterly, annually or at maturity.
• You’ll receive clear written instructions in the use of your term deposit account, and access to phone support and advice.
• You can use the Citibank term deposit earning calculator on the website to see how much interest you can earn across each term, and manipulate the investment and term amounts to reach your desired return.

Current rates offered on Citibank term deposits over $10,000 are:

• A interest rate for a four month term.
• A interest rate for a 12 month term.
• A interest rate for a 5 year term.

How to Apply for a Citibank Term Deposit

To apply for a Citibank term deposit, you can call or visit a branch to open the account. To make the process more convenient, you can fill out an online enquiry via our secure link, and have a Citibank investment specialist contact you to complete the application when it is convenient.

To make sure you choose the term deposit which is right for you, compare all of the features and have all of the fine print explained for you right here at Savings Account Finder™. Once you have all of the information about term deposits and high interest investments, you will be able to easily see the option which best suits your needs.