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Citibank Savings Account Interest Rates

Citibank Savings Account Interest 2022

Last Updated 18th Jan 2022

Saving Account Interest Rate
Citi Banking Savings Account 2.50% - 2.50%
Citi Bank Savings Account For Expatriates 2.50% - 2.50%
Citi Bank Suvidha Salary Account 2.50% - 2.50%
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Citibank Bank Savings Accounts Interest Rate

Citibank offers an interest rate ranging upto 2.50% on the minimum average balance maintained in the savings account. It calculates the interest rate on savings bank accounts on a daily basis. However, the interest is paid to the account holders every quarter. With Citibank Savings Account youth and minors can get additional benefits on their Savings Account. Citibank also offers attractive benefits like mobile and internet banking services, free Debit Card and customised savings account depending on different customer profiles.

Features and Benefits

Citibank Savings Account helps you to save money by providing interest on your idle money deposited in the savings accounts. The rate of interest on Citibank Savings Account varies as per the Savings Account product. Some of the key features and benefits of Citibank savings account are:

  • It offers interest rates upto 2.50% p.a. You can easily access Citibank Savings Account anywhere through a large network of branches and ATMs .
  • If you want to transfer funds from Citibank Savings account to any other bank account, you can do it through modes such as RTGS , IMPS, NEFT and UPI facilities.
  • To maintain an Citibank Savings account, you require a minimum balance of Rs. 25,000.
  • Citibank personalized account number and cheque book enhances security and ensures your money is safe.
  • You can get SMS Alerts and e-statement facilities with Citibank Savings Account.
  • With the Auto Sweep Facility of Citibank, your account can be linked to a Multi Option Deposit MOD account.

Citibank Savings Account Rates

Saving Account Interest Rate Minimum Balance
Citi Banking Savings Account 2.50% - 2.50% Rs. 25,000
Citi Bank Savings Account For Expatriates 2.50% - 2.50% N.A
Citi Bank Suvidha Salary Account 2.50% - 2.50% NIL

Eligibility & Documentation Required for Opening Savings Account in Citibank

To open a savings account in Citibank, you need to fulfill the following eligibility criteria:

  • You need to have valid KYC Documents.
  • You can open a savings account singly or jointly.

Documents Required

You can open a savings account with prescribed application form and minimum KYC documents, which are mentioned below:

  • Application Form with attested photographs
  • Proof of identity- Passport, Voter ID card, PAN Card, Govt./Defence ID card, Driving Licence etc.
  • Proof of current address- Credit Card Statement, Salary slip, Electricity Bill/Telephone Bill, ration card etc.

How is Citibank Savings Account Interest Rate Calculated?

As per the RBI mandate, Citibank calculates saving account rate on average balances in the account on a daily basis. The interest can however be paid monthly, annually or quarterly. The following formula is used by Citibank to calculate interest on Savings Bank Account on the basis of daily balance in the account

Interest = Amount (Daily balance)*(No of days)* Interest/Days in the year.

Compare Savings Account Interest Rates of All Banks

Citibank Savings Account Products

  • Citi Banking Savings Account : Citibank offers interest rates ranging between 2.50% to 2.50% on Citi Banking Savings Account.You can open a Citi Banking Savings Account in Citibank by depositing Rs. 25,000 amount as minimum balance.
  • Citi Bank Savings Account For Expatriates : If you have deposited your excess funds in a Citi Bank Savings Account For Expatriates, you can get interest at 2.50% to 2.50% on your account. This account can be opened by anyone with a minimum age of 18 years.
  • Citi Bank Suvidha Salary Account : Citibank provides interest rates ranging between 2.50% to 2.50% on Citi Bank Suvidha Salary Account. The minimum balance requirement to open this account is NIL.


How much interest is charged by Citibank on Savings Account?

As per the current rates, Citibank offers maximum interest rate of 2.50% on Savings Account. Citibank provides this interest on the minimum balance maintenance of Rs. 25,000. The interest rate may however vary across the Citibank savings account product.

What is the minimum amount required for opening Savings Account in Citibank?

The minimum amount required for opening a Savings Account in Citibank is Rs. 25,000.

What are the balance non - maintenance Charges on Citibank Savings Account?

The Balance Non Maintenance Charges on Savings Account by Citibank are Rs. 250.The minimum balance requirement in Citibank savings account is Rs. 25,000.

What are the Citibank ATM Transaction charges on Savings Account?

Citibankcharges ATM Transaction on Savings Account are Monthly Fee of Rs. 250.This charge may further depend upon the savings account product of Citibank and the debit card types offered with the bank.

How does Citibank calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by Citibank to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

What is the withdrawal limit of the account?

You can withdraw money from your savings account for a maximum Rs. 1,00,000 times in a month. Withdrawals over and above this limit may impose charges and may lead to deductions from your savings account.The withdrawal limit offered in Citibank is Rs. 1,00,000

What is the eligibility criteria to open a savings account in Citibank?

To open a savings account in Citibank you need to fulfill the following eligibility criteria:

  • This account is for resident Indians of 18 years of age and above
  • You must have your basic KYC done

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Citibank News - Jan 2022
  • 2018-07-24 : Citi Bank India reports a 6% drop in Net Profit
    Citi Bank India has declared a decline of 6% percent in its net profit to Rs 3403 crore against 3626 crores in a previous year. The Net Non Performing Asset (NPA) of the bank remain unchanged. This drop in profits over the previous year is attributed to the impact of rising yields on the investment portfolio.
  • 2018-05-28 : 4 withdrawals can lead to freezing of Jan Dhan Accounts
    Basic savings bank deposit accounts, including Pradhan Mantri Jan-Dhan Yojana accounts allow only four free debits a month. Since banks are not allowed to impose any kind of charge on customers, many banks such as SBI an Axis Bank are freezing the accounts once four transactions are complete. Whereas, a few like HDFC and Citibank are converting these accounts into regular ones if the number of transactions exceed four, charging the account holders for non maintenance of minimum balance.
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