Thumbnail icon for Citi

Citi Online Saver

Interest rate
0.35% p.a.(for $0 and over)
Maximum rate
1.55% p.a. (for $0 to $500,000)
Govt deposit guarantee
Yesup to $250,000
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Mozo editorial review Citi Online Saver

Last updated: 28 July 2020.

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What's hot
  • Special intro rate of 1.55%
  • 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.

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Key features

The most attractive feature of the Citi Online Saver account is the introductory rate of 1.55% 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.

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Who is it 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.

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Any catches

The Citi Online Saver has one of the top intro savings rates at 1.55% 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 26 September 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: 1.55% 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?

Overall
6.5/10
Price
7.1/10
Features
6.1/10
Customer service
6.0/10
Convenience
5.6/10
Trust
6.5/10

Latest reviews of Citi Online Saver

  • Overall 10/10
    The best bar none, an excellent all rounder.

    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 review

    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.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Michelle, Queensland reviewed 29 days ago
  • Overall 9/10
    Excellent.

    Easy to deal with. Accounts are readily accessable and rates are very reasonable. General day to day operations are tops.

    Read full review

    Easy to deal with. Accounts are readily accessable and rates are very reasonable. General day to day operations are tops.

    Price
    9/10
    Features
    9/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    9/10
    Less
    Leon, Queensland reviewed about 1 month ago
  • Overall 1/10
    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 review

    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.

    Price
    -1/10
    Features
    1/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Matt, South Australia reviewed 6 months ago
  • Overall 0/10
    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 review

    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.

    Price
    5/10
    Features
    1/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Rob, Queensland reviewed 7 months ago
  • Overall 7/10
    Competitive and global

    Great for travel as it keeps prices low, not so good for accessibility.

    Read full review

    Great for travel as it keeps prices low, not so good for accessibility.

    Price
    7/10
    Features
    7/10
    Customer service
    4/10
    Convenience
    4/10
    Trust
    10/10
    Less
    Nicholas, New South Wales reviewed over 4 years ago
Citi

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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