For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Citibank India Adjusts Interest Rates On Fixed Deposits (W.e.f. January 13, 2022)

|

Citibank India has revised its interest rates on various term deposit schemes. On January 13, 2022, the bank revised its interest rates, and the new rates apply to Time Deposits, Recurring Deposits, Senior Citizens Deposits, and Tax Saver Deposits. Citibank India offers competitive interest rates, as well as flexible tenors and the opportunity to launch a fixed deposit account online with a minimum investment of Rs. 1000. In this article, we will briefly outline Citibank's modified fixed deposit rates.

 

Citibank Time Deposit Interest Rates

Citibank Time Deposit Interest Rates

With a minimum investment of Rs 1000 and a variable tenure of 7 days to 1096 days, one can open a Citibank fixed deposit account. The interest rates shown below are payable quarterly on a compounded interest / simple interest basis.

TenureUp to Rs 2 CrRs 2 Cr to Rs 3 CrRs 3 Cr to Rs 5 CrRs 5 Cr to Rs 8 CrRs 8 Cr to Rs 10 Cr
7-10 Days1.85%2.00%2.85%2.00%2.95%
11-14 Days1.85%2.00%2.00%2.00%2.00%
15-25 Days1.90%2.00%2.00%2.00%2.00%
26-35 Days1.90%2.00%2.00%2.00%2.00%
36-45 Days2.55%2.00%2.00%2.00%2.00%
46-60 Days2.55%2.00%2.00%2.00%2.00%
61-90 Days2.55%2.00%2.00%2.00%2.00%
91-120 Days2.55%2.00%2.00%2.00%2.00%
121-150 Days2.55%2.00%2.00%2.00%2.00%
151-180 Days2.55%2.00%2.00%2.00%2.00%
181-270 Days2.60%2.00%2.00%2.00%2.00%
271-364 Days2.75%2.00%2.00%2.00%2.00%
365-400 Days2.75%2.00%2.00%2.00%2.00%
401-540 Days2.75%2.00%2.00%2.00%2.00%
541-731 Days3.00%2.00%2.00%2.00%2.00%
732 - 1095 Days3.50%2.00%2.00%2.00%2.00%
>=1096 days3.50%2.00%2.00%2.00%2.00%
Source: Bank Website. W.e.f. January 13, 2022     
Citibank Recurring Deposit Interest Rates
 

Citibank Recurring Deposit Interest Rates

Citibank allows recurring deposits for a tenure of 365 to 731 days. One can open a recurring deposit account with a minimum installment amount of Rs 1000 up to a limit of Rs 20,000 per month. On recurring deposits of less than Rs 2 Cr, the bank is now offering the following interest rates.

TenureInterest rate per annumYield
365 - 400 Days2.75%2.78%
401 - 540 Days2.75%2.78%
541 - 731 Days3.00%3.06%
Source: Bank Website. W.e.f. January 13, 2022  
Citibank Fixed Deposit Interest Rates For Senior Citizens

Citibank Fixed Deposit Interest Rates For Senior Citizens

On deposits of less than Rs 2 Cr, senior citizens are eligible for an additional rate of 50 basis points. On their term deposits, senior residents will now get the following interest rates across all tenors.

TenureInterest rate per annumYield
7-10 Days2.35%-
11-14 Days2.35%-
15-25 Days2.40%-
26-35 Days2.40%-
36-45 Days3.05%-
46-60 Days3.05%-
61-90 Days3.05%-
91-120 Days3.05%3.05%
121-150 Days3.05%3.05%
151-180 Days3.05%3.06%
181-270 Days3.10%3.11%
271-364 Days3.25%3.28%
365-400 Days3.25%3.29%
401-540 Days3.25%3.30%
541-731 Days3.50%3.58%
732 - 1095 Days4.00%4.14%
>=1096 days4.00%4.23%
Source: Bank Website. W.e.f. January 13, 2022  
Citibank Tax Saver Deposit Interest Rates

Citibank Tax Saver Deposit Interest Rates

Citibank also offers a tax-saving deposit scheme that allows depositors to claim tax benefits under Section 80C of the Income Tax Act of 1961 on deposits of up to Rs. 1,50,000 that are maintained for a period of five years. A minimum deposit of Rs 1000 is required for a 5-year lock-in period, and no premature withdrawals are permitted. Interest is calculated quarterly and paid out quarterly, either as compounded interest or simple interest.

Tenure in daysInterest rate per annumYield
5 Years3.50%3.81%
Source: Bank Website. W.e.f. January 13, 2022  

Story first published: Sunday, January 16, 2022, 12:26 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X