If you’ve got a decent chunk of change you’re looking to stash away for a short period of time, then look no further than the Citi Term Deposit. Whether it's an inheritance, life insurance payout or the profits from a property sale, savers with a deposit of $250,000 can earn the Citi Term Deposit special rate of 1.35% for 3 or 6 month terms to help grow that stash.
Sold your house or came into an inheritance and need a place to stash your cash? Meet the Citi Term Deposit.
There's a minimum deposit of $10,000, and different interest tiers depending on how long you're willing to lock your funds away for and term lengths range from 1 month to 5 years.
But this one's really designed for larger deposit amounts. If you’ve got a big deposit you could qualify for the Citi Term Deposit special rate. With this offer you can snag:
- 1.35% on balances from $250,000 to $2,000,000 for a 3 or 6 month term
- 1.05% on balances from $10,000 to $249,999 for a 3, 6, 9 or 12 month term
However, there are few things to keep in mind if you are thinking of opening a Citi Term Deposit. This term deposit features automatic rollover, so you’ll need to let Citi know if you plan to withdraw the funds before the rollover date. And if you’re thinking of making a withdrawal before the maturity date, you will need to give Citi 31 days notice.
The Citi Term Deposit could be a good choice for Aussies who have recently fallen into some money (like selling their house or car) and need a place to store their funds temporarily.
If for any reason you need to make a withdrawal before the maturity date, you will need to let Citi know 31 days in advance, this could cause an inconvenience if customers need access to the funds quickly.
0.40% p.a. ($10,000 to $2,000,000)
1.05% p.a. ($10,000 to $249,999)
1.35% p.a. ($250,000 to $2,000,000)
1.05% p.a. ($10,000 to $249,999)
1.35% p.a. ($250,000 to $2,000,000)
1.05% p.a. ($10,000 to $2,000,000)
1.05% p.a. ($10,000 to $2,000,000)
1.05% p.a. ($10,000 to $2,000,000)
1.05% p.a. ($10,000 to $2,000,000)
1.05% p.a. ($10,000 to $2,000,000)
1.05% p.a. ($10,000 to $2,000,000)
$10,000.00
$2,000,000.00
direct credit
no
yes
31 days notice required if customers want to withdraw their funds before the maturity date. Rates shown only available for new to bank funds.
none
Customer service is from a distance, not personal and when I/R offered on savings products like (term deposits) not competitive even with similar size banks, the decision to continue to use is easy. Customer satisfaction/retention evidenced by continued use of products.
Read full reviewCustomer service is from a distance, not personal and when I/R offered on savings products like (term deposits) not competitive even with similar size banks, the decision to continue to use is easy. Customer satisfaction/retention evidenced by continued use of products.
It was so easy to open an account and they offered the best rates available.
Read full reviewIt was so easy to open an account and they offered the best rates available.
Citibank are wherever I am in the world. I like my banking the way I have come to rely on big brand food outlets, everywhere, reliable, refreshing and consistent. Citibank is my Starbucks.
Read full reviewCitibank are wherever I am in the world. I like my banking the way I have come to rely on big brand food outlets, everywhere, reliable, refreshing and consistent. Citibank is my Starbucks.
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.