The Citi Online Saver account offers exactly what we've come to expect from an online savings account - great interest rates, easy to setup with no account fees and no minimum balance requirements. Think this could be the treatment your hard earned savings deserve? Well according to the Mozo Expert Judges, it's certainly worth considering, because the Online Saver account took out a 2019 Mozo Experts Choice Award in the Kick Start Savings category.
The most attractive feature of the Citi Online Saver account is the introductory rate of 1.10% for the first 4 months on balances under $500,000, one of the higher rates in our database. After the intro period, the rate drops to 0.35% on all balances but this is one of the best ongoing rates in the market and reason the account picked up the Experts Choice Award. Interest is calculated daily and paid into your account monthly. The Citi Online Saver account won't cost you a cent to own or maintain - it has no transaction fees, no account fees, and no fees for phone or Internet banking.
Unlike many other online savings accounts, where you also need to have a transaction account with the same bank, the Citi Online Saver account can be linked to any external bank account. This makes the Citi Online Saver account ideal for anyone looking to earn great interest on their savings, at least for the first 4 months.
The Citi Online Saver has one of the top intro savings rates at 1.10% but after 4 months, it drops to a lower ongoing rate of 0.35%. So, if you want to always be getting the best return for your money you might need to switch accounts again.
Balances from $0: 0.35% p.a.
Balances from $0: 1.10% p.a.
Balances from $500,000: 0.35% p.a.
Bonus rate for the first 4 months from account opening
$0.00
n/a
Unlimited transactions from phone and internet
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$0.00
n/a
$0.00
$0.00
Monthly
no
none
no
no
no
no
no
yes
yes
no
no
Must link to a transaction account.
none
none
Worst bank I've ever used. I lost my phone and now I can't access my account and they have given me literally no workable options.
Read full reviewWorst bank I've ever used. I lost my phone and now I can't access my account and they have given me literally no workable options.
Our online saver compares to none, no conversion or other fees for use whilst traveling and excellent rates on savings. Our kids are now with Citibank to help save as much as possible.
Read full reviewOur online saver compares to none, no conversion or other fees for use whilst traveling and excellent rates on savings. Our kids are now with Citibank to help save as much as possible.
Easy to deal with. Accounts are readily accessable and rates are very reasonable. General day to day operations are tops.
Read full reviewEasy to deal with. Accounts are readily accessable and rates are very reasonable. General day to day operations are tops.
I have been trying to set up an online Saver account with Citi for about 6 months. Their website records an error at the end of the application process every time. I have tried about 20 times. I’ve tried in my name. My wife has tried. My mother has even tried. It doesn’t work. We have called customer support about 6 times and they are absolutely hopeless. They have no idea. I suspect that their account is not even available anymore, but they just keep advertising it.
Read full reviewI have been trying to set up an online Saver account with Citi for about 6 months. Their website records an error at the end of the application process every time. I have tried about 20 times. I’ve tried in my name. My wife has tried. My mother has even tried. It doesn’t work. We have called customer support about 6 times and they are absolutely hopeless. They have no idea. I suspect that their account is not even available anymore, but they just keep advertising it.
Poor and grossly outdated and inefficient online platform. Not able to recognise the BSB for UBank. When you run into problems, such as unprocessed transactions, the Customer Interface / outsourced call centre has no ability to rectify. Gave me a Sydney number, but no one answered that.
Read full reviewPoor and grossly outdated and inefficient online platform. Not able to recognise the BSB for UBank. When you run into problems, such as unprocessed transactions, the Customer Interface / outsourced call centre has no ability to rectify. Gave me a Sydney number, but no one answered that.
Citi is the consumer banking arm of Citigroup, one of the world's biggest financial institutions. Citi was the first foreign bank to be granted a banking licence to operate in Australia. Citi is now the largest international bank in the country, serving millions of Australians with credit cards, mortgages, deposit accounts, charge cards and more.
AMP Bank
AMP Saver Account
1.25% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 to $5,000,000)
Yes up to $250,000
MyState Bank
Bonus Saver Account
1.10% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Bankwest
Hero Saver
0.80% p.a. (for $0 to $250,001)
0.01% p.a.(for $0 to $5,000,000)
Yes up to $250,000
HSBC
Serious Saver
0.30% p.a. (for $0 to $1,000,000)
0.15% p.a.(for $0 and over)
Yes up to $250,000
HSBC
Flexi Saver
0.25% p.a. (for $0 to $5,000,000)
0.05% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
1.05% p.a. (for $1 to $250,000)
0.05% p.a.(for $1 and over)
Yes up to $250,000
AMP Bank
AMP Saver Account
1.25% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 to $5,000,000)
Yes up to $250,000
MyState Bank
Bonus Saver Account
1.10% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
HSBC
Serious Saver
0.30% p.a. (for $0 to $1,000,000)
0.15% p.a.(for $0 and over)
Yes up to $250,000
Bankwest
Hero Saver
0.80% p.a. (for $0 to $250,001)
0.01% p.a.(for $0 to $5,000,000)
Yes up to $250,000
HSBC
Flexi Saver
0.25% p.a. (for $0 to $5,000,000)
0.05% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
1.05% p.a. (for $1 to $250,000)
0.05% p.a.(for $1 and over)
Yes up to $250,000
AMP Bank
AMP Saver Account
0.10% p.a.(for $0 to $5,000,000)
1.25% p.a. (for $0 to $250,000)
Yes up to $250,000
MyState Bank
Bonus Saver Account
0.10% p.a.(for $0 and over)
1.10% p.a. (for $0 to $250,000)
Yes up to $250,000
Bankwest
Hero Saver
0.01% p.a.(for $0 to $5,000,000)
0.80% p.a. (for $0 to $250,001)
Yes up to $250,000
HSBC
Serious Saver
0.15% p.a.(for $0 and over)
0.30% p.a. (for $0 to $1,000,000)
Yes up to $250,000
HSBC
Flexi Saver
0.05% p.a.(for $0 to $5,000,000)
0.25% p.a. (for $0 to $5,000,000)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
0.05% p.a.(for $1 and over)
1.05% p.a. (for $1 to $250,000)
Yes up to $250,000
ANZ
Progress Saver
0.01% p.a.(for $0 and over)
0.40% p.a. (for $0 and over)
Yes up to $250,000
Newcastle Permanent
Smart Saver
0% p.a.(for $0 and over)
1.40% p.a. (for $0 and over)
Yes up to $250,000
