Citibank - a subsidiary of Citi Group - commenced operations in India during the year 1902. The company has always been a pioneer in offering innovative financial solutions to its clients. It was the first to offer 24-hour phone banking, internet banking and SMS alerts in the country. Citibank was also the first to launch the next-generation contactless credit card payments with Citi Tap and Pay, based on near field communications technology.
The bank offers a range of deposit products to meet varying client needs. Fixed deposits are increasingly gaining popularity among the masses, considering that it is a safe investment Plans option compared to investments in stocks and mutual funds. Fixed deposits are investment accounts where money gets deposited for a fixed period and the interest rate does not fluctuate. An individual can open a fixed deposit account with just Rs. 1,000 for a tenure as low as 7 days. Additionally, the bank offers overdraft of up to 90% of the deposit value for current account holders. Customers are also given the option to choose between quarterly compounded interest and simple interest quarterly pay-outs.
| In Days | <Rs. 1 crore | P.A. Rate | Annualised Yield |
| 7 - 10 Days | 3.00% | - |
| 11 - 14 Days | 3.00% | - |
| 15 - 25 Days | 3.25% | - |
| 26 - 35 Days | 3.50% | - |
| 36 - 45 Days | 4.50% | - |
| 46 - 60 Days | 4.75% | - |
| 61 - 90 Days | 4.75% | - |
| 91 - 120 Days | 5.50% | 6.00% |
| 121 - 150 Days | 6.00% | 6.01% |
| 151 - 180 Days | 6.00% | 6.03% |
| 181 - 270 Days | 6.00% | 6.04% |
| 271 - 364 Days | 6.00% | 6.09% |
| 365 - 400 Days | 6.00% | 6.14% |
| 401 - 540 Days | 7.00% | 7.21% |
| 541 - 731 Days | 6.00% | 6.23% |
| 732 - 1095 Days | 6.50% | 6.88% |
| > = 1096 Days | 6.00% | 6.52% |
Source: Citibank website
Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
| In Days | >=Rs. 1 crore <Rs. 2 crores | P.A. Rate | Annualised Yield |
| 7 - 10 Days | 5.00% | - |
| 11 - 14 Days | 4.75% | - |
| 15 - 25 Days | 5.85% | - |
| 26 - 35 Days | 4.75% | - |
| 36 - 45 Days | 5.00% | - |
| 46 - 60 Days | 5.00% | - |
| 61 - 90 Days | 5.00% | - |
| 91 - 120 Days | 5.00% | 5.00% |
| 121 - 150 Days | 5.00% | 5.00% |
| 121 - 150 Days | 4.75% | 4.75% |
| 151 - 180 Days | 4.75% | 4.75% |
| 181 - 270 Days | 4.75% | 4.75% |
| 271 - 364 Days | 4.75% | 4.75% |
| 365 - 400 Days | 4.75% | 4.75% |
| 401 - 540 Days | 4.75% | 4.75% |
Source: Citibank website
Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
| In Days | >=Rs. 2 crores <Rs. 3 crores | P.A. Rate | Annualised Yield |
| 7 - 10 Days | 5.50% | - |
| 11 - 14 Days | 5.00% | - |
| 15 - 25 Days | 5.00% | - |
| 26 - 35 Days | 4.75% | - |
| 36 - 45 Days | 5.00% | - |
| 46 - 60 Days | 5.00% | - |
| 61 - 90 Days | 5.00% | - |
| 91 - 120 Days | 5.00% | 5.00% |
| 121 - 150 Days | 5.00% | 5.00% |
| 151 - 180 Days | 4.75% | 4.75% |
| 181 - 270 Days | 4.75% | 4.75% |
| 271 - 364 Days | 4.75% | 4.75% |
| 365 - 400 Days | 4.75% | 4.75% |
| 401 - 540 Days | 4.75% | 4.75% |
| 401 - 540 Days | 4.75% | 4.75% |
| 732 - 1095 Days | 4.75% | 4.75% |
| 732 - 1095 Days | 4.75% | 4.75% |
Source: Citibank website
Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
| In Days | >=Rs. 3 crores <Rs. 5 crores | P.A. Rate | Annualised Yield |
| 7 - 10 Days | 5.35% | - |
| 11 - 14 Days | 5.70% | - |
| 15 - 25 Days | 5.00% | - |
| 26 - 35 Days | 4.75% | - |
| 36 - 45 Days | 5.00% | - |
| 46 - 60 Days | 5.00% | - |
| 61 - 90 Days | 5.00% | - |
| 91 - 120 Days | 5.00% | - |
| 121 - 150 Days | 5.00% | 5.00% |
| 151 - 180 Days | 4.75% | 4.75% |
| 181 - 270 Days | 4.75% | 4.75% |
| 271 - 364 Days | 4.75% | 4.75% |
| 365 - 400 Days | 4.75% | 4.75% |
| 401 - 540 Days | 4.75% | 4.75% |
| 541 - 731 Days | 4.75% | 4.75% |
| 732 - 1095 Days | 4.75% | 4.75% |
| > = 1096 Days | 4.75% | 4.75% |
Source: Citibank website
Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
| In Days | >=Rs. 5 crores <=Rs10 crores | P.A. Rate | Annualised Yield |
| 7 - 10 Days | 3.25% | - |
| 15 - 25 Days | 4.60% | - |
| 26 - 35 Days | 5.35% | - |
| 36 - 45 Days | 4.75% | - |
| 46 - 60 Days | 5.00% | - |
| 61 - 90 Days | 5.00% | - |
| 91 - 120 Days | 5.00% | 5.00% |
| 121 - 150 Days | 5.00% | 5.00% |
| 151 - 180 Days | 4.75% | 4.75% |
| 181 - 270 Days | 4.75% | 4.75% |
| 271 - 364 Days | 4.75% | 4.75% |
| 365 - 400 Days | 4.75% | 4.75% |
| 401 - 540 Days | 4.75% | 4.75% |
| 541 - 731 Days | 4.75% | 4.75% |
| 732 - 1095 Days | 4.75% | 4.75% |
| > = 1096 Days | 4.75% | 4.75% |
Source: Citibank website
Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
Senior citizen fixed deposits earn an additional interest of 50 basis points per annum, in case the amount is below Rs. 1 crore.
| Tenure | Comp Period | < Rs. 1 Crore | Revised rate | Yield# |
| 7 - 10 Days | 0 | 3.50% | - |
| 11 - 14 Days | 0 | 3.50% | - |
| 15 - 25 Days | 0 | 3.75% | - |
| 26 - 35 Days | 0 | 4.00% | - |
| 36 - 45 Days | 0 | 5.00% | - |
| 46 - 60 Days | 0 | 5.25% | - |
| 46 - 60 Days | 0 | 5.25% | - |
| 91 - 120 Days | 1 | 6.00% | 6.00% |
| 121 - 150 Days | 1 | 6.50% | 6.52% |
| 151 - 180 Days | 1 | 6.50% | 6.53% |
| 181 - 270 Days | 2 | 6.50% | 6.53% |
| 271 - 364 Days | 3 | 6.50% | 6.60% |
| 365 - 400 Days | 4 | 6.50% | 6.66% |
| 401 - 540 Days | 4 | 7.50% | 7.74% |
| 541 - 731 Days | 6 | 6.50% | 6.77% |
| 732 - 1095 Days | 8 | 7.00% | 7.45% |
| 732 - 1095 Days | 12 | 6.50% | 7.11% |
Source: Citibank website
Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
For Less Than Rs. 1 Crore
| In Days | <Rs. 1 cr P.A. Rate |
|---|---|
| 7-10 Days | M-200 bps |
| 7-10 Days | M-200 bps |
| Above 14 days | M-200 bps |
Source: Citibank website
Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
For Rs. 1 Crore To Less Than Rs. 2 Crores
| In Days | >=Rs. 1 cr <Rs. 2 cr P.A. Rate |
|---|---|
| 7-10 Days | M-300 bps |
| 11-14 Days | M-300 bps |
| Above 14 days | M-300 bps |
Source: Citibank website
Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
For Rs. 2 Crores To Less Than Rs. 3 Crores
| In Days | >=Rs. 2 cr <Rs. 3 cr P.A. Rate |
|---|---|
| 7-10 Days | M-100 bps |
| 11-14 Days | M-100 bps |
| Above 14 days | M-100 bps |
Source: Citibank website
Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
For Rs. 3 Crores To Less Than Rs. 5 Crores
| In Days | >=Rs. 3 cr < Rs. 5 cr |
|---|---|
| 7-10 Days | M-100 bps |
| 11-14 Days | M-100 bps |
| Above 14 days | M-100 bps |
Source: Citibank website Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
For Rs. 5 Crores To Less Than Rs. 10 Crores
| In Days | >=Rs. 5 cr <=Rs. 10 cr |
|---|---|
| 7-10 Days | M-100 bps |
| 11-14 Days | M-100 bps |
| Above 14 days | M-100 bps |
Source: Citibank website
Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
According to the Finance Act of 2006, term deposits up to Rs. 1,50,000 booked for 5 years are eligible for tax benefit under Section 80C of the Income Tax Act, 1961. One can claim tax deduction up to Rs. 1,50,000 lakhs in a financial year. The tenure allowed is 5 years, as per the lock-in period for Tax Saving Deposits under the Income Tax Act. The interest is calculated quarterly either as simple interest or compounded interest (as per the depositor’s preference) and is paid out quarterly.
| Tenure in Days | P.A. Rate | Annualized Yield |
|---|---|---|
| 5 Years | 6.00% | 6.94% |
Source: Citibank website
Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.
Citibank FD options allow one to invest from Rs. 1000 onwards and for as low as 7 days.
An additional interest of 50 basis points per annum is applicable on deposits below Rs. 1 crore for senior citizens.
Attractive interest rates and flexible tenures.
Interest on deposits for over 3 months shall be on a quarterly basis. In case of deposits of less than 3 months, interest is payable on the number of days for which deposit was booked. If it is Monthly Simple Interest Deposits, interest is payable on a monthly basis at a discounted interest rate.
Auto renewal of term deposit can only be for the same period as the original deposit.
Overdraft facility available of up to 90% of the deposit value for current account holders.
Citibank offers its clients the benefit of Higher Net Relationship Value (NAV).
The eligibility criteria will differ, depending on the kind of deposit account an individual wishes to open. Normally, the following individuals and groups can open a fixed deposit account.
What is the interest rate that Citibank Fixed Deposit offers on senior citizens FDs?
Senior citizens are offered interest rates of up to 7.50% p.a. for a deposit tenure of 401 - 540 days.
Can I make alterations to the tenure of my ongoing Citibank Fixed Deposit?
One cannot change the tenure of an already active fixed deposit account. However, the individual can close the existing fixed deposit account and open a new one with tenure of his or her choice.
How to open a Citibank Fixed Deposit account without a PAN card?
In case PAN is not available, an individual will have to make a declaration in Form 60. Deposits booked via this basis shall be credited to the holder’s linked bank account upon maturity. No automatic renewals will be allowed for such cases.
What is the highest interest rate offered on Citibank Fixed Deposit?
The highest interest rate offered by Citibank is 7.00% for deposit amount less than Rs. 1 crore.
What are the FD tenure options with Citibank Fixed Deposit?
Citibank offers a range of tenure options to fixed deposit holders. It can be as short as 7 days and can go up to 1096 Days.
What is the minimum amount required to start a Citibank Fixed Deposit account?
The minimum amount required to open a fixed deposit account with Citibank is Rs. 1,000.
What is the eligibility criteria to open a Citibank Fixed Deposit account?
Normally, those who can open a fixed deposit account include individuals, HUFs, partnership firms, Trusts, municipalities, sole proprietary concerns, charitable, religious, and educational institutions, associations, societies, clubs etc
Can I open my Citibank Fixed Deposit without a PAN card?
While it is possible to open a fixed deposit account without a PAN card, there are certain implications to it. The TDS applicable will be recovered at 20% (as against 10% with PAN card). There will be no TDS credit from the Income Tax department, and no TDS certificate shall be issued (As per CBDT circular no: 03/11). Additionally, penal TDS will apply and Form 15G/H and other exemption certificates become invalid. It must be noted that no deposit for a sum equal to or more than Rs. 50,000 shall be booked, if the PAN is not provided.
