Citibank India adjusts interest rates on term deposits (Wef 13 January 2022)

Citibank Term Deposit Interest Rates

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

Citibank Recurring Deposit Interest Rates

Citibank allows recurring deposits for 365 to 731 days. One can open a recurring deposit account with a minimum deposit of Rs 1,000 up to a limit of Rs 20,000 per month. On recurring deposits below Rs 2 Cr, the bank now offers the following interest rates.

Citibank Fixed Deposit Interest Rates for Seniors

On deposits below Rs 2 Cr, senior citizens are entitled to an additional rate of 50 basis points. On their term deposits, senior residents will now benefit from the following interest rates for all durations.

Citibank Tax Saver Deposit Interest Rates

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