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Citibank FD Calculator

Citibank Fixed Deposit Interest Calculator

Last Updated 05th Jul 2021

Citibank FDs have tenures ranging from 2 years 2 days to 5 years with maximum rate of interest of 3.50%. Interest rates for senior citizens are higher than the normal rates and ranges upto 4.00%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
7 days to 35 days 2.40% to 2.90% ₹ 1,00,046 - ₹ 1,00,278
36 days to 45 days 2.55% to 3.05% ₹ 1,00,252 - ₹ 1,00,376
46 days to 90 days 2.55% to 3.05% ₹ 1,00,321 - ₹ 1,00,752
91 days to 120 days 2.55% to 3.05% ₹ 1,00,636 - ₹ 1,01,004
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Citibank Fixed Deposit Calculator

Citibank fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in Citibank. Bank may allow higher interest rate on larger deposits. Citibank offers deposit amount in the range of 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. Citibank offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by Citibank is 3.50% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 2 years 2 days to 5 years.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 2.40% for a 2 years 2 days FD and a rate of 3.50% for a 5 years FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 2.40%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      Citibank calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

Citibank Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, Citibank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a Citibank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

The interest earned on a fixed deposit in Citibank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on Citibank FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of Citibank FD.

Suppose if you make an investment of ₹ 1,00,000 in Citibank FD for a 5-year tenure at an interest rate of 3.50% for depositors below 60 years and 4.00% for senior citizens. The maturity amount for this deposit amount is ₹ 1,19,034 and the total interest earned is ₹ 19,034 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 22,019 which is higher. The maturity schedule of Citibank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 3.50% for Citizens below 60 years and at 4.00% for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2021 ₹ 1,758 ₹ 1,01,758 ₹ 2,010 ₹ 1,02,010
2022 ₹ 3,609 ₹ 1,05,367 ₹ 4,142 ₹ 1,06,152
2023 ₹ 3,737 ₹ 1,09,104 ₹ 4,310 ₹ 1,10,462
2024 ₹ 3,869 ₹ 1,12,973 ₹ 4,485 ₹ 1,14,947
2025 ₹ 4,006 ₹ 1,16,979 ₹ 4,667 ₹ 1,19,614
2026 ₹ 2,056 ₹ 1,19,035 ₹ 2,404 ₹ 1,22,018

Citibank FD Calculator Formula

Along with online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on Citibank FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P – Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

Other Investment Calculators

FAQs

What is the highest interest earned on Citibank fixed deposit?

You can earn a maximum interest of 3.50% on Citibank fixed deposit.

How is Citibank FD interest calculated?

The formula to calculate interest on Citibank FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.

How many years FD will double in Citibank?

The growth of Citibank FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in Citibank FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 6.95%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/6.95 = 10.36. So it will take a little more than 14 years for one’s investment to get doubled in Citibank.

What are the minimum and maximum amounts that I can invest in an Citibank FD?

The minimum investment limit in Citibank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.


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Citibank News - Jul 2021
  • 2021-01-05 : Revised FD rates for CitiBank
    With effect from 5 January 2020, CitiBank revised its FD rates. New rates for 7-35 days is 2.40%, the rate for 36-180 days is 2.55%, and for 181-270 days the rate is 2.60%. In addition to this for 271 -540 days, the applicable rate is 2.75%, for 541 to 731 days the rate is 3%, and for 732-1825 days, the rate is 3.50%.
  • 2020-10-07 : CitiBank revised fixed deposit rates
    Canara Bank revised its FD rates with effect from 5 October 2020. New rates for 7-35 days is 2.75%, the rate for 36-180 days is 2.80%, and for 181-270 days the rate is 2.85%. In addition to that, for 271 -540 days, the applicable rate is 3.00%, from 541 to 731 days the rate is 3.25%, and for 732-1825 days, the rate is 3.75%.
  • 2019-12-03 : Citi Bank revises Fixed Deposit rates across certain tenors
    CitiBank revised its interest rates on Fixed Deposits across certain tenors for December. The new rate for 181-540 is 4.75%, which was earlier set at 5.00%. Further, for 541-1095 days, the new rate is revised to 5.00% from 5.50%. Rates for the remaining tenors remain the same as the previous month.
  • 2019-11-05 : CitiBank new fixed deposit rates from today
    From November 5, 2019, interest rates applicable on FD rates have changed. New rates for 7-14 days is 3.00%; for 15-25 days, the rate is 3.25%, the rate for 26-35 days is 3.50%, the rate for 36-45 days is 4.00%, and for 46-180 days the rate is 4.75%. In addition to that, for 181- 540 days, the applicable rate is 5.00%, from 541 to 1095 days the rate is 5.50%, and for 1096-1825 days, the rate is 5.25%.
  • 2019-04-02 : Citibank raises interest rates on term deposits
    Private sector lender, Citibank has revised interest rates on domestic term deposits with immediate effect. Citibank has announced an upward revision in the interest rate on domestic term deposits for an amount less than Rs. one crore across various tenors. For 7 to 14 days the rate has been revised to 3.00%, and for 181 days to 270 days, the rate has been revised to 6.00%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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