Citibank FD Interest Rates, Oct 2019

Citibank FD rates

Tenure FD Rates Senior Citizen FD Rates
7 days to 14 days 3.00% 3.50%
15 days to 25 days 3.25% 3.75%
26 days to 35 days 3.50% 4.00%
36 days to 45 days 4.50% 5.00%
46 days to 90 days 4.75% 5.25%
91 days to 120 days 5.00% 5.50%
121 days to 150 days 5.00% 5.50%
151 days to 180 days 5.00% 5.50%
181 days to 270 days 5.25% 5.75%
271 days to 400 days 5.25% 5.75%
401 days to 540 days 5.25% 5.75%
541 days to 731 days 5.50% 6.00%
732 days to 1095 days 5.50% 6.00%

The above rates are applicable for deposits of below Rs. 1 crore. Check FD rates of all banks in India

Earn upto 8.70% on FD

Citibank FD Interest Rates 2019

Citibank offers multiple fixed deposit options to their customers to park their surplus savings for a fixed tenure. A customer is required to make a deposit once into their FD account at the time of opening the account with the bank. The customer is not allowed to deposit more money and withdraw any money in the account during the tenure of the deposit. Fixed Deposits of Citibank have a higher interest rate compared to their saving deposits. Benefits of opening a FD account in Citibank are:

  • Loan facility upto 90 per cent is available on the deposit while 75 per cent to the third party deposit
  • Nomination facility available
  • Earn higher returns on the money deposited
  • Interest on deposit is paid only at the time of the maturity

FD Rates in Citibank

FDs are attractive financial instruments for depositors looking for attractive returns and high safety. FD interest rates in Citibank range from 3.00% p.a. to 5.25% p.a. for deposits with a tenure of 7 days to less than 365 days. These deposits are known as short term deposits as they have a tenure of less than 1 year. Short term Citibank FD rates for senior citizens range from 3.50% to 5.75% p.a.

Always, compare tenure wise FD rate of banks to choose the FD rate at which the bank offers the highest fixed deposit interest rate and if possible, opt for FD with highest interest rate. Citibank FD rates are the highest for the deposits with a tenure of 541 days to 1095 days, wherein the FD rate of interest is 5.50% p.a

Citibank FD interest rates for long term deposits with tenure of 5 years to 1095 days offer good returns. Citibank fixed deposit rates for deposits with a tenure of 1095 days is 5.50%. Senior citizen are offered deposit rates of 6.00% p.a. for long termed FDs.

Citibank Fixed Deposit Rates

Citibank offers best FD rate of 5.50% on term deposits for a tenure of 541 days to 1095 days. The bank offers special interest rate on FD for senior citizens. Current Citibank FD rates for senior citizens range from 3.50% to 6.00%. Fixed Deposits rates of Citibank are a function of many factors such as monetary policies of RBI, economic growth rate, credit demand and liquidity position of the bank.

The factors affecting Fixed Deposit interest rates are as follows:

Policies Framed by RBI – As per RBI guidelines, the change in Cash Reserve Ratio (CRR) and repo rate affects the interest rate of all banking instruments including the fixed deposit.

Recession – Recession results in a decrease in the interest rate offered on fixed deposit. At the time of recession, RBI is forced to release the funds in the market which it achieves by lowering the rates on cash reserve of the banks and hence, providing them with additional liquidity. As a result of high liquidity and low credit demand, banks reduce the rates on FD.

Inflation – Inflation has a positive effect on a fixed deposit interest rate. Banks typically fix interest rates of FD in a manner that it is higher than the existing inflation rates. Hence, FD rates tend to be higher in a period of rising inflation.

Current State of Economy – Economic condition of the country is the major factor that affects the fixed deposit interest rate. In a booming economy, people need and are willing to take larger credit to meet their personal and business requirements. In periods of high credit demand, banks offer higher interest rate to garner more funds through fixed deposits.

Citibank Fixed Deposit

Regular Fixed Deposits


  • Under this scheme, the depositor is allowed to make investment into the deposit to earn attractive and higher returns along with a flexibility and security.
  • Loan facility upto 90 per cent is available on the deposit while 75 per cent to the third party deposit
  • Nomination facility available
  • Earn higher returns on the money deposited
  • Interest on deposit is paid only at the time of the maturity

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust and partnership firm
Multi Deposits


  • A flexible deposit scheme which promises higher returns and at the same time provides liquidity wherein the customer can withdraw funds whenever required.
  • Interest on deposit is compounded quarterly
  • Earn attractive interest rate on your deposit

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust and partnership firm
Senior Citizens Deposit


  • Specially designed account for senior citizens offering higher rates of interest as compared to accounts for other individuals.
  • Opportunity to earn higher rate of interest
  • Nomination facility available
  • Convenience of booking deposit through internet banking for RBL account holders
  • TDS facility available on the deposit

Who is eligible?

  • Resident Indians above 60 years of age
Tax Saver Deposits


  • The scheme has been designed to help the resident individuals, HUFs, minors and senior citizens to save tax along with great returns by investing into this fixed deposit.
  • Interest will be compounded on a quarterly basis
  • Nomination facility available
  • Interest on the deposit is liable to tax / TDS
  • Availability of auto renewal facility

Who is eligible?

  • Resident Indians and hindu undivided family

Citibank FD 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 allows higher interest rate on larger deposits. Citibank offers deposit amount in the range of Rs. 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 5.50% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of years months days to years months days .
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.

Illustration: : Mr. A opens a FD account of Rs. 1 lakh with a tenure of 7 Days at an interest rate of 3.00 %. In this case, the maturity amount at the end of 7 Days will be Rs. 100,057 which includes the principal of Rs. 1 lakh and interest of Rs. 57 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.

FD in Citibank – Premature Withdrawal

Premature closure of Term Deposit with Citibank is along with the lower interest rate of 1% than the contracted rate. The penal provisions for premature closure on Citibank FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit Citibank

Citibank offers loan up to 90% against its own deposit. Note that Citibank will not give you loan against FD of any other bank. Citibank offers Loan against FD at the rate of 4% to 6.5%

Maximum loan tenure is restricted up to the maximum tenure of the FD.

Illustration - Mr. Rahul has opened a fixed deposit of Rs. 100,000 for 2 years in Citibank. The borrower later decided to take loan against his FD. The bank has approved a credit limit of 90% against his FD at 10% interest rate. Now, if the borrower draws Rs. 90,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on Rs. 90,000 availed for 1 month only. The amount he repays after 1 month is Rs. 90,744. So, the interest charged on the loan taken is Rs. 744.

Documents required to open Fixed Deposit Account in Citibank

  • PAN Card
  • 2 Photographs

FAQs on Citibank Fixed Deposit

What is the highest FD rate for Citibank?

You can earn a maximum interest of 5.50% on Citibank fixed deposit.

Are there any special rates for senior citizens FD of Citibank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 3.00% to 5.50%. Compared to this, the rate of senior citizens FD are in the range of 3.50% to 6.00%.

What is the tenure range for Citibank Fixed Deposit?

The tenure ranges from 7 days to 3 years.

Is there any minimum amount that I have to give for opening a Fixed Deposit with Citibank ?

The minimum deposit amount required to book an FD with Citibank is Rs. 1,000.

Can I deposit additional amount in my FD account?

No, you cannot deposit any additional amount in your existing FD account as you are allowed to deposit only once at the time of opening the account. If you want to invest any additional amount in FD, you are required to open a new FD account.

Who is eligible for opening an FD account in Citibank?

All resident individuals, HUFs, NRIs, Firms including minors are eligible to open a fixed deposit account.

What documents are required to open an FD account in Citibank ?

The documents required to open an FD account in Citibank includes PAN Card, 2 Photographs.

Is it possible to change the tenure of my existing fixed deposit account with Citibank ?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with Citibank without their PAN card

  • TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply
Citibank FD News - Oct 2019
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More