Citi Online Saver
Citi Online Saver
Mozo Review Citi Online Saver Review
Last updated: 24 March 2020.
What's hot:
Special intro rate of 2.05%
2019 Mozo Experts Choice Award
No account fees and no minimum balance required
What's not:
Interest rate drops to 0.35% at the end of the intro period
Mozo snapshot:
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.
Key features:
The most attractive feature of the Citi Online Saver account is the introductory rate of 2.05% 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.
Who it's good for:
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.
Any catches?
The Citi Online Saver has one of the top intro savings rates at 2.05% 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.
Details
Rates and fees information correct as at 31 March 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.Rates
-
Balances from $0: 0.35% p.a.
-
Balances from $0: 2.05% p.a.
Balances from $500,000: 0.35% p.a. -
Bonus rate for the first 4 months from account opening
Fees
-
$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
Other financial bits
-
$0.00
-
$0.00
-
Monthly
Features
-
no
-
none
-
no
-
no
-
no
-
no
-
no
-
yes
-
yes
-
no
-
no
-
Must link to a transaction account.
-
none
-
none
Customer Reviews
How are Citi savings accounts rated by the Mozo community?
Latest reviews of Citi Online Saver
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Complete waste of time.
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.
Price-1/10Features1/10Customer service0/10Convenience0/10LessTrust0/10 -
Don't waste your time dealing with Citi.
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.
Price5/10Features1/10Customer service0/10Convenience0/10LessTrust0/10 -
Competitive and global
Great for travel as it keeps prices low, not so good for accessibility.
Read full reviewGreat for travel as it keeps prices low, not so good for accessibility.
Price7/10Features7/10Customer service4/10Convenience4/10LessTrust10/10 -
All in all great bank.
Positive - Great customer service, always on the ball, no fees for minimum deposit. Negative - no actual branch
Read full reviewPositive - Great customer service, always on the ball, no fees for minimum deposit. Negative - no actual branch
Price10/10Features10/10Customer service10/10Convenience4/10LessTrust10/10 -
Great interest rate - difficult to communicate
Great security but it's so hard to set up an account and difficult to transact.
Read full reviewGreat security but it's so hard to set up an account and difficult to transact.
Price8/10Features6/10Customer service6/10Convenience2/10LessTrust6/10
About Citi
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.
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1.85% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
$0.00
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2.05% p.a. (for $0 to $500,000)
0.35% p.a.(for $0 and over)
$0.00
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CUA
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0.05% p.a.(for $0 and over)
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MyState Bank
Bonus Saver Account
0.30% p.a.(for $0 and over)
2.00% p.a. (for $0 to $150,000)
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HSBC
Serious Saver
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1.85% p.a. (for $0 to $1,000,000)
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Savings Maximiser
0.10% p.a.(for $0 and over)
1.80% p.a. (for $0 to $100,000)
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Bankwest
Hero Saver
0.01% p.a.(for $0 to $5,000,000)
1.50% p.a. (for $0 to $250,000)
Promoted
HSBC
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0.01% p.a.(for $0 to $5,000,000)
1.25% p.a. (for $0 to $5,000,000)
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eSaver Reward
0.05% p.a.(for $0 and over)
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1.75% p.a. (for $5,000 and over)
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