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Citibank Fixed Deposit

Citibank Fixed Deposit

Last Updated : June 2, 2017, 12:57 p.m.

About Citibank Fixed Deposit

Our elders always ask us to work hard to earn money and put constant efforts to increase the amount earned. That’s true, nothing can replace hard work, but sometimes our luck fails. In spite of our consistency, we are unable to increase our earnings. We are not sure whether the plan we are investing in will yield us good returns. In case, the need arises the amount invested be available to us before the maturity of the plan.

Citibank fixed deposit plans give assurance for the same. Here your investment is safe and secure and you get paid for the investment you make via interest. Also, you can withdraw your money when you are in need of it. The flexible tenure makes it more reliable. The benefits of a Higher Net Relationship Value (NAV) is given to Citi Bank savings account and current account holders. One can invest as per his/her preference in any of the following schemes:

  • Citibank Fixed Deposit
  • Citibank Multi/Flexible Fixed Deposit
  • Citibank Senior Citizens Deposit
  • Citibank Tax Saver Fixed Deposit

Citibank Fixed Deposit Interest Rate

The interest provided by the bank differs on the various tenures. The customer can select the time period as per his convenience and financial objective.

Citibank Fixed Deposit Schemes

1.Citibank Fixed Deposit
This deposit can be booked for a minimum tenure of 7 days. The minimum investment amount is 1,000. The depositor with current account in Citibank can avail an overdraft line up to 90% of deposit amount.

2.Citibank Multi/Flexible Deposit
The minimum deposit of 1,000 is required to avail the facility of this scheme. The amount is to be deposited for at least 7days. The depositor investing in this scheme earns interest at high rates. The partial withdrawal in multiples of ₹1,000 is permissible. The remaining amount earns interest at the same rate.

3.Citibank Senior Citizens Deposit
All Indian Residents of and above 60 years of age can invest in the scheme with the minimum amount of ₹1,000. The minimum lock-in-period is as low as 7days. The senior citizens are paid additional interest of 0.50% on amount lesser than the ₹1 crore. The deposit is automatically linked to customer’s Citi Bank savings account to grant the benefit of a Higher Net Relationship Value (NAV).

4.Citibank Tax Saving Deposit
The deposit under this scheme can be booked for the amount up to ₹1,50,000. The lock-in period is 5 years. Under Section 80C of Income Tax Act, 1961, the tax benefit is applicable to this scheme. However, simple interest is paid quarterly or interest is quarterly compounded.

Citibank Fixed Deposit Schemes Quick View

Type of DepositMinimum DepositMinimum TenureFeatures
Fixed Deposit₹1,000

7 daysOverdraft Available
Interest Payout Options: Quarterly Compounded Interest / Simple Interest Quarterly
Multi / Flexible Deposit₹1,0007 daysHigh interest rates
Easily liquidated
Interest Payout Options: Quarterly Compounded Interest / Simple Interest Quarterly
Senior Citizen Deposit₹1,000

7 days0.50% additional interest rates
Interest Payout Options: Quarterly Compounded Interest / Simple Interest Quarterly
Tax Saver Deposit₹1,000

5 yearsTax benefits on deposits
Interest Payout Options: Quarterly Compounded Interest / Simple Interest Quarterly Payout

Benefits of investing in Citibank Fixed Deposit

  • Investment starting at just ₹1,000
  • Multiple schemes to opt from
  • Withdraw funds when you need
  • Wide range of tenure
  • Attractive interest rates
  • Nomination facility available

Citibank Fixed Deposit Calculator

The calculator helps you calculate the final value of the investment payable at the maturity. The amount receivable depends on the amount of investment, the tenure, and the interest rate. The investor can know investment of how much amount will yield maximum interest at the selected tenure.

How to Apply

You can avail the benefits of Citi Bank fixed deposit Schemes by visiting the nearest branch office. The customer service executives will assist you in completing the investment procedure. Citi Bank Fixed Deposit Form

Citibank Fixed Deposit Form

The application form is to be filled to avail the facility of fixed deposit . Fill in the personal details, mark the type of plan you are opting for and the interest payout option. Fill in the maturity details as, the tenure of investment and auto-renewal of policy. In case you want to avail nomination facility fill in the details of the nominee.

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