Best rate (up to 1 year)
0.45% p.a.3 months
Minimum deposit
$10,000.00
Interest paid to another bank?
no
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Mozo editorial review Citi Term Deposit

Last updated: 1 December 2020.

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What's hot
  • Rate of 0.45% for 3, 6, 9 and 12 month terms ($10,000 minimum deposit)
  • Great for stashing large lump sums of savings
What's not
  • 31 days notice for withdrawal
Mozo snapshot

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 $10,000 to $2,000,000 can earn the Citi Term Deposit special rate of 0.45% for 3, 6, 9 or 12 month terms to help grow that stash.


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Key features

Sold your house or came into an inheritance and need a place to stash your cash? Meet the Citi Term Deposit. 

Citi offer savers a wide variety of terms lengths to stash away their funds, from as little as 1 month all the away up to 5 years. But at the moment, savers with a balance between $10,000 and $2,000,000 will be able to earn up to 0.60% 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.



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Who is it good for

The Citi Term Deposit could be an option for Aussies who have recently fallen into some money (like selling their house or car) and need a place to store their funds temporarily.


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Any catches

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.

Details

Rates and fees information correct as at 1 December 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
  • 0.15% p.a. ($10,000 to $2,000,000)

  • 0.45% p.a. ($10,000 to $249,999)

  • 0.45% p.a. ($10,000 to $249,999)

  • 0.45% p.a. ($10,000 to $2,000,000)

  • 0.45% p.a. ($10,000 to $2,000,000)

  • 0.40% p.a. ($10,000 to $2,000,000)

  • 0.40% p.a. ($10,000 to $2,000,000)

  • 0.40% p.a. ($10,000 to $2,000,000)

  • 0.40% p.a. ($10,000 to $2,000,000)

Other financial bits
  • $10,000.00

  • $2,000,000.00

Features
  • 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

Different interest rates apply to different amounts or different interest payment frequencies.

Customer Reviews

How are Citi term deposits rated by the Mozo community?

Overall
6.7/10
Price
6.5/10
Features
6.0/10
Customer service
7.2/10
Convenience
5.9/10
Trust
7.2/10

Latest reviews of Citi Term Deposit

  • Overall 2/10
    Service from a distance & competitive savings opts

    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 review

    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.

    Price
    0/10
    Features
    4/10
    Customer service
    5/10
    Convenience
    6/10
    Trust
    5/10
    Less
    Mozo community reviewer, Victoria reviewed over 7 years ago
  • Overall 9/10
    Great rates and easy to open an account

    It was so easy to open an account and they offered the best rates available.

    Read full review

    It was so easy to open an account and they offered the best rates available.

    Price
    9/10
    Features
    9/10
    Customer service
    9/10
    Convenience
    7/10
    Trust
    8/10
    Less
    Rosa, Victoria reviewed over 8 years ago
  • Overall 8/10
    A welcomed and surprising experience.

    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 review

    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.

    Price
    7/10
    Features
    6/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    9/10
    Less
    Sarah, Queensland reviewed over 8 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.

See Citi term deposits

AMP Bank

AMP Bank

Term Deposit

0.75% p.a.

$5,000.00

Yes up to $250,000

MyState Bank

MyState Bank

Term Deposit

0.75% p.a.

$5,000.00

Yes up to $250,000

Citi

Citi

Term Deposit

0.45% p.a.

$10,000.00

Yes up to $250,000

MyState Bank

MyState Bank

Term Deposit

0.75% p.a.

$5,000.00

Yes up to $250,000

AMP Bank

AMP Bank

Term Deposit

0.75% p.a.

$5,000.00

Yes up to $250,000

MyState Bank

MyState Bank

Term Deposit

0.75% p.a.

$5,000.00

Yes up to $250,000

Citi

Citi

Term Deposit

0.45% p.a.

$10,000.00

Yes up to $250,000