Interest rate
0.35% p.a.(for $0 and over)
Maximum rate
1.10% p.a. (for $0 to $500,000)
Govt deposit guarantee
Yes up to $250,000
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Mozo editorial review Citi Online Saver - last updated: 3 December 2020

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What's hot
  • Special intro rate of 1.10%
  • 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 1.10% 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.

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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 1.10% 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.

Details

Rates and fees information correct as at 3 August 2021. 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: 1.10% 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

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