Citibank Accounts

Citibank provides corporations, customers, institutions, and government with a wide range of financial products. Amongst the various products and services offered by the bank, the Citibank Account helps the account holder in managing their funds properly.

These accounts help them in everyday savings to investments. They can enjoy higher rates of interest on their deposits with Citibank. The bank offers them smart ways of saving their money and accessing their accounts easily.

Citibank Accounts - Features and Benefits

Here are the key features and benefits of Citibank Account in the UAE.

Personalized Cheque Book

The account holder may get a personalized cheque book with these bank accounts. They have the facility of unlimited checking on the Citi Current Account.

Debit Card

The bank provides the account holder with a debit card, which is accepted globally. They can use this debit card for making transactions throughout the world.

Withdrawals

The Citibank charges no fee on the withdrawals equal to AED 10,000 (maximum) through Citibank ATMs anywhere in the world (in case of current and savings account). On withdrawals made through non-Citibank ATMs, the bank will charge a certain amount of fee on every transaction made within the UAE as well as offshore.

Multiple Currencies

This Citibank account is available to the applicants in various major currencies of the world.

Interest Calculation

The interest earned on the funds deposited in a Citibank savings account is calculated on the basis of the minimum balance (monthly). It gets credited to the account monthly.

24/7 Banking Service

Citibank offers its customers mobile banking and online banking facilities. The Citiphone Banking facility is available to the account holder round the clock.

Citibank Account Types

There are three major types of accounts available with the Citibank in the UAE. Following are the Citibank account types in the UAE.

Citi Current Account

Whether a professional or into a business, the Citi Current Account is designed for offering convenience and simplicity for all the financial dealings of the account holder. This account lets the account holder experience more flexibility to manage their daily finances.

They can enjoy unlimited checking with their personalized cheque book with this Citibank Account. They can also make a maximum withdrawal of AED 10,000 without any charge through the Citibank’s wide ATM network globally.

Citi Savings Account

The account holder can save and earn more through the Citi Savings Account. No matter they are saving for a big purchase or for their future, this account helps them in realizing their saving goals more quickly.

The account holder can increase their savings with the competitive rates of interest offered on this Citibank Account. At the same time, they can easily access their savings anytime they want to.

The account holder can also make a maximum withdrawal of AED 10,000 without any charge through the Citibank’s wide ATM network globally.

CitiBest Account

This type of savings account is available in US dollars at high rates of interest. The interest is calculated at the day end regularly depending upon the balance maintained in this Citibank Account. The interest accrued is credited to this account on a monthly basis.

The account holder will have to maintain a minimum yearly average balance of 100,000 in US Dollars (350,000 in UAE dirhams). Following is the interest rate offered on this account.

USD Balance Interest Rate per annum (in %)
0-9,999 0.15
10,000-999,999 0.35
1,000,000 and more 0.50

Citi Time Deposit (Fixed Deposit)

For those who are in search of a secure and fast savings option, Citi Time Deposit is a suitable solution. An FD preserves the principal amount while earning a fixed amount of interest for a pre-determined tenure.

Citibank offers a range of tenure starting from 30 days to one year on this Citibank Account. The account holder can choose the duration of their deposit keeping in mind the minimum and maximum period as determined by the bank. The account holder has to make a deposit of at least AED 1,000 on this account.

The account holder also has the option of choosing the currency in which they want to make their deposit from the major currencies of the world (including the local currency). They can also enjoy competitive fixed deposit interest rates for helping them to grow their savings faster.

Eligibility Criteria to Open Citibank Account in UAE

Following is the eligibility criteria for opening the bank accounts at Citibank.

Bank Account Name Eligibility Criteria
Citi Current Account
  • Residence: UAE resident only
  • Age: 18 years (minimum)
  • Minimum Average Balance (monthly): AED 3,000
Citi Savings Account
  • Age: 18 years (minimum)
  • Minimum Average Balance (monthly): AED 3,000
Citi Time Deposit (FD)
  • Minimum Deposit: AED 1,000
  • Minimum Deposit Tenure: 30 days

How to Open Citibank Account?

For opening these Citibank Accounts in the UAE, the applicant has the following options.

Phone Banking

The hopeful can call on the official customer care number of the bank, which can be found on the bank’s official website.

Visiting the Branch

The applicant can visit the nearest branch of the bank for getting their Citibank account opened. They have to fill the form at the branch and submit it along with the required documents.

Online Banking

Citibank offers its customers a safe and user-friendly online banking portal. The applicant can get their accounts opened easily through this portal anytime and anywhere.

Citibank Account -FAQs

Question 1: Can I make my deposits in any currency other than UAE dirhams?

Answer: Yes, the Citibank Account is available in a variety of major currencies of the world apart from UAE dirhams.

Question 2: Do I have to pay any charge on withdrawals I make through the ATMs within and outside the UAE?

Answer: The Citibank charges no fee on the withdrawals equal to AED 10,000 (maximum) through Citibank ATMs anywhere in the world (in case of current and savings account). On withdrawals made through non-Citibank ATMs, you will have to pay the following charges.

For Current Account: AED 2 on every transaction made within the UAE & AED 20 on every transaction made offshore.

For Savings Account: AED 2 on every transaction made within the UAE as well as outside the UAE.

Question 3: On what basis is the interest calculated on the savings Citibank account?

Answer: The interest earned on the savings account is calculated on the basis of the minimum balance maintained every month. It gets credited to your account on a monthly basis.

Question 4: What is the minimum deposit required for a Citibank Fixed Deposit?

Answer: You will have to make a minimum deposit of AED 1,000 or equivalent in other currencies.

Question 5: What is the range of tenures offered on the time deposit?

Answer: For this Citibank Account, you can choose from the following range of tenures.

  • 1 month
  • 3 months
  • 6 months
  • 12 months (one year)

Question 6: Do I have to pay any charges for setting up standing instructions on my account?

Answer: Yes, you have to pay a fee of AED 50 for setting up standing instructions on your Citibank account.

Question 7: What are the Citibank fixed deposit interest rates in the UAE?

Answer: Following are the rates of interest according to the tenure in both AED and USD.

Tenure (in months) Interest Rate (AED) Interest Rate (USD)
One 0.52% 0.92%
Three 0.64% 1.21%
Six 0.83% 1.31%
Nine 0.96% 1.43%
Twelve 1.10% 1.54%

Question 8: What all customer service can I avail with this bank account from the Citibank?

Answer: You can avail the following customer services with your Citibank account.

  • Citibank Online allows you to make your transactions or perform the banking activities through any location anytime and anywhere.
  • CitiPhone service offers additional support with the help of the Citiphone officers round the clock.
  • Citibank Alert Service helps in keeping you updated about your banking transactions and details through email or SMS.