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This Foreign Bank Offers Upto 7.75% Interest on Fixed Deposits, Check Details
Citibank India has increased the interest rate on fixed deposits of less than Rs 2 crore. According to the bank's official website, the new rates will go into effect on January 13, 2023. Following the revision, the bank now offers interest rates ranging from 2.10% to 3.50% on deposits maturing in 7 days to 1096 days. Citibank offers a maximum interest rate of 7.25% on deposits with terms ranging from 181 days to 400 days.
The bank offers 2.10% interest rates on deposits maturing in 7 to 14 days, and Citibank offers 2.15% interest rates on deposits maturing in 15 to 35 days. Citibank used to offer a 3.50% interest rate on deposits with terms of 36 to 180 days, but it now offers a 7.25% interest rate on deposits with terms of 181 to 400 days. Deposits with maturities ranging from 401 to 1096 days will now earn 3.50% interest.
| In Days | Less than 2 Crore | More than 2 crore to 3 crore | More than 3 crore to 5 crore | More than 5 crore to 8 crore | More than 8 crore to 10 crore | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| P.A. Rate | Annualised Yield | P.A. Rate | Annualised Yield | P.A. Rate | Annualised Yield | P.A. Rate | Annualised Yield | P.A. Rate | Annualised Yield | |
| 7 to 10 Days | 2.10% | - | 2.55% | - | 3.40% | - | 2.55% | - | 3.50% | - |
| 11 to 14 Days | 2.10% | - | 2.55% | - | 2.55% | - | 2.55% | - | 2.55% | - |
| 15 to 25 Days | 2.15% | - | 2.55% | - | 2.55% | - | 2.55% | - | 2.55% | - |
| 26 to 35 Days | 2.15% | - | 2.55% | - | 2.55% | - | 2.55% | - | 2.55% | - |
| 36 to 45 Days | 3.50% | - | 3.00% | - | 3.00% | - | 3.00% | - | 3.00% | - |
| 46 to 60 Days | 3.50% | - | 3.00% | - | 3.00% | - | 3.00% | - | 3.00% | - |
| 61 to 90 Days | 3.50% | - | 3.00% | - | 3.00% | - | 3.00% | - | 3.00% | - |
| 91-120 Days | 3.50% | 3.50% | 3.00% | 3.00% | 3.50% | 3.50% | 3.00% | 3.00% | 3.50% | 3.50% |
| 121-150 Days | 3.50% | 3.51% | 3.00% | 3.00% | 3.50% | 3.51% | 3.00% | 3.00% | 3.50% | 3.51% |
| 151-180 Days | 3.50% | 3.51% | 3.00% | 3.01% | 3.50% | 3.51% | 3.00% | 3.01% | 3.50% | 3.51% |
| 181-270 Days | 7.25% | 7.31% | 3.00% | 3.01% | 3.50% | 3.52% | 3.00% | 3.01% | 3.50% | 3.52% |
| 271-364 Days | 7.25% | 7.38% | 3.00% | 3.02% | 3.50% | 3.53% | 3.00% | 3.02% | 3.50% | 3.53% |
| 365-400 Days | 7.25% | 7.45% | 3.00% | 3.03% | 3.50% | 3.55% | 3.00% | 3.03% | 3.50% | 3.55% |
| 401-540 Days | 3.50% | 3.55% | 3.00% | 3.04% | 3.50% | 3.55% | 3.00% | 3.04% | 3.50% | 3.55% |
| 541-731 Days | 3.50% | 3.58% | 3.00% | 3.06% | 3.50% | 3.58% | 3.00% | 3.06% | 3.50% | 3.58% |
| 732 - 1095 Days | 3.50% | 3.61% | 3.00% | 3.08% | 3.50% | 3.61% | 3.00% | 3.08% | 3.50% | 3.61% |
| >=1096 Days | 3.50% | 3.67% | 3.00% | 3.13% | 3.50% | 3.67% | 3.00% | 3.13% | 3.50% | 3.67% |
Furthermore, Citibank accepts recurring deposits (RDs) with a minimum deposit of Rs. 1,000 and a maximum deposit of 20,000, as well as deposit terms ranging from 12 to 24 months. On 5-year tax-saving deposits, the bank offers a 3.50% interest rate to the general public and a 4% interest rate to senior citizens. Citibank is offering an additional 50 basis points on deposits made by the elderly. The bank offers senior citizens a maximum interest rate of 7.75% on deposit terms ranging from 181 to 400 days.
If you do not already have a Citibank Time Deposit, you must first open a Citibank Savings Account. You can link your deposit to a Citibank savings or current account to benefit from a higher Net Relationship Value (NAV) with the bank.
You can easily book deposits with the bank using Citibank Online or the Citi Mobile smart banking app with a minimum deposit of Rs. 1000.
Senior Citizen Deposit interest rates for Less than 2 crore
| Tenure | Less than Rs 2 Crore | |
|---|---|---|
| P.A. Rate | Yield# | |
| 7-10 Days | 2.60% | - |
| 11-14 Days | 2.60% | - |
| 15-25 Days | 2.65% | - |
| 26-35 Days | 2.65% | - |
| 36-45 Days | 4.00% | - |
| 46-60 Days | 4.00% | - |
| 61-90 Day | 4.00% | - |
| 91-120 Days | 4.00% | 4.00% |
| 121-150 Days | 4.00% | 4.01% |
| 151-180 Days | 4.00% | 4.01% |
| 181-270 Days | 7.75% | 7.82% |
| 271-364 Days | 7.75% | 7.90% |
| 365-400 Days | 7.75% | 7.98% |
| 401-540 Days | 4.00% | 4.07% |
| 541-731 Days | 4.00% | 4.10% |
| 732 - 1095 Days | 4.00% | 4.14% |
| >=1096 Days | 4.00% | 4.23% |
