Citibank Fixed Deposit
Fixed Deposits (also known as Term Deposits or Time Deposits), offered by Citibank in Malaysia are among the easiest investments that provide good returns over the short, medium, or long term – depending on the investor’s personal requirements.
Citibank understands the need and importance of quick liquidity in an investment, and allows for partial withdrawals before maturity from the deposit. The deposits are fully secured and protected by PIDM, in addition to being accessible from participating countries around the world using Online Global View.
Features and Benefits of Citibank Fixed Deposits
Citibank fixed deposits are among the most rewarding time deposits in Malaysia. Some of the features and benefits of these deposits are detailed below:
- Liquidity: Citibank fixed deposits offer the additional benefit of liquidity by allowing partial withdrawals in multiples of RM5,000, any time before the maturity date.
- Overdraft: Citibank allows investors the option to pledge their term deposits for an overdraft facility, should they need it.
- No penalties: The balance remaining in the time deposit account will continue to earn interest at the original rate, with no penalties like most other banks.
- Security: The investment in these account is eligible for protection by the PIDM.
Deposit Amounts: The minimum deposit amount depends on the tenure of the fixed deposit chosen by the investor:
- 1 month tenure: Minimum deposit amount is RM5,000.
- 2 months to 60 months tenure: Minimum deposit amount is RM1,000.
- Convenient world-wide access: The deposit account can be accessed from anywhere in participating countries through the Online Global View platform.
- Ease of operation: Account inquiries, transactions, etc. can be done in a hassle free and secure online environment through Citibank or Citigold Online.
- Ease of management: Inquiries, complaints, suggestions, etc. can be communicated to the bank fast and easily through the live e-Chat function or through the 20-second call pickup guarantee.
Citibank Fixed Deposit Interest Rates
Citibank Malaysia offers monthly interest on your fixed deposits and helps you earn good returns on your investments. Investors can earn a monthly interest on their time deposits with a minimum investment of RM5,000 for a minimum term of 6 months.
Are the deposits made under Citibank fixed deposits eligible for protection under PIDM?
Yes, Citibank fixed deposits are eligible for PIDM protection.
Can amounts be partially withdrawn from this fixed deposit account?
Yes, partial withdrawals are allowed.
What is the minimum deposit amount required for opening a fixed deposit account with Citibank?
The minimum deposit amount for a fixed deposit of a 1 month tenure is RM5,000. The minimum deposit amount for a fixed deposit of tenures greater than one month is RM1,000.
Are there any customer service initiatives taken by the bank to ensure a hassle free banking experience?
Citibank offers a live chat option on its website, and also features a “Call-me-bank” function where the customer can request a call back from the bank to address or register any issues faced with the bank.
How can I apply for a Citibank fixed deposit?
Prospective customers can leave their details with the bank and request a call back, or visit your nearest Citibank branch, or call the bank on CitiPhone.
*Please note that all promotions, amounts, tenures, repayment requirements, time frames, interest rates, other rates, charges, fees, ceilings, requirements, criteria, features, benefits, exclusions, calculations, ratios, ratings, terms and conditions mentioned above are as of March, 2016, and are subject to change at any time. All banks / NBFCs / insurance providers / financial service providers / companies, etc. mentioned above retain all rights to modify, replace, or add to or subtract from any of the above, in any way, at any time, and at their own discretion. You are requested to reconfirm the same with your chosen bank / company / NBFC / insurance provider / financial service provider, etc. before making any financial commitments.
Other Products offered by Citibank:
Apart from offering Fixed Deposit,Citibank offers other products and services which include: