Citibank Berhad is one of the top leading banks in Malaysia providing a wide range of banking products and services.
One of the numerous products offered by Citibank Berhad is the fixed deposit scheme. It is also known as Term Deposit or Time Deposit. This fixed deposit scheme offers flexible tenure with competitive interest rates.
Citibank Fixed Deposit Account Interest Rates 2018 (Updated on 19 Nov 2018)
|Citibank FD Tenure Period||Citibank FD Interest Rates|
|1-2 Months||2.90% p.a.|
|3-5 Months||2.90% p.a.|
|6-8 Months||2.95% p.a.|
|9-11 Months||2.95% p.a.|
|12 Months||2.95% p.a.|
Types of Citibank Fixed Deposit Schemes
Citibank offers 2 types of fixed deposit schemes. They are:
- Citibank Time Deposit: This fixed deposit scheme comes with a flexible tenure and competitive interest rates. More details of this scheme are mentioned in below sections.
- Citibank Foreign Currency Time Deposit: This account is tailored to suit your foreign currency needs. You can earn high returns on your foreign currency. The tenure offered for this fixed deposit scheme is 1, 3, 6, 9 or 12 months. This fixed deposit is open to around 10 foreign currencies.
Benefits of Citibank Time Deposit Scheme
Citibank Term Deposit offers impressive benefits with attractive features. Some of the prominent features and benefits are:
- You can choose a fixed deposit tenure of one month if you deposit a minimum of RM5,000.
- You can deposit a minimum of RM1,000 for a tenure of two months and above.
- You can choose a flexible tenure which ranges from one month up to 60 months.
- You can earn monthly interest on your Citibank Term Deposit account.
- You can withdraw your fixed deposit account partially before the account maturity date.
- You can continue to earn returns on your remaining balance after partial withdrawal.
- You have an option to pledge your Time Deposit for an overdraft facility.
- You can use the Online Global View option on Citibank website to view your term deposit account across participating countries.
- You can make account inquiries or conduct banking transactions via online banking facility.
- Your funds in the Citibank Time Deposit is eligible for protection by PIDM.
- You will get a complimentary e-statement of your fixed deposit account every month.
- You can use the online e-chat and call-me back facility for any banking enquiries.
Fees and charges for Citibank FD Account
|Citibank Time Deposit Account||Fees & Charges|
|Overdraft against Time Deposit (Default interest rate)||6.65% p.a. above base rate or 3.50% p.a. above base lending rate (whichever applicable) Charged on outstanding amount if account is due past 3 months|
|Overdraft against Time Deposit (Commitment fee on unutilised funds)||1% p.a. of the unutilised overdraft line Applicable only for overdraft line above RM500,000|
|Pre-termination Penalty Charges for Foreign Currency Time Deposit||1.06% p.a. on number of days remaining until maturity date No interest will be paid|
How to open a Citibank Time Deposit account?
- You can visit your nearest branch to open a Citibank Time Deposit account.
- You can fill and submit the contact form available on Citibank website.
- You can call CitiPhone to open a fixed deposit account
Contact Number for Citibank FD Accounts
The CitiPhone number you need to contact are as follows:
- 03-2383 0000 (Kuala Lumpur)
- 04-296 0000 (Penang)
- 07-268 0000 (Johor Bahru)
Q. Will I lose any interest if I make any partial withdrawals?
A. If you have opened a Citibank Fixed Deposit account, you will not lose your interest for any partial withdrawals. If you have a Citibank Foreign Currency Fixed Deposit account, you are not allowed to make partial withdrawals.
Q. Will I lose my principal amount if I withdraw my Citibank Foreign Currency Term Deposit account?
A. If you withdraw your Citibank Foreign Currency Term Deposit account before the maturity date, you will not earn any interest. But you will have to pay a penalty of 1% p.a. based on the remaining days left until maturity which can result in a loss of your principal amount.
Q. What are the terms for making partial withdrawals on my Citibank Term Deposit account?
A. You can make partial withdrawals only in multiples of RM5,000. You will continue to earn interest on the remaining balance.
Q. Can I renew my Citibank Term Deposit account?
A. Yes. At maturity, your Citibank Term Deposit account will renew automatically with the principal amount and profit for the same tenure. If you wish to change terms, you need to provide written instructions.
Q. What do I need to do to earn monthly interest?
A. You need to deposit a minimum of RM50,000 for a minimum tenure of six months to earn monthly interest.
Other Products offered by Citibank:
Apart from offering Fixed Deposit,Citibank offers other products and services which include: