Citibank Fixed Deposit Account

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 Fixed Deposit. 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 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.

Features and Benefits of Citibank Fixed Deposit Account 

Here are a few key benefits and features of this bank account in the UAE.

Minimum Deposit Account

The account holder has to maintain a minimum amount of 1000 dirhams in their account.

Loan Tenor

The bank offers flexible loan repayment tenor on this fixed deposit starting from the minimum duration of one month up to one-year maximum.

Round the Clock Services

The account holder can avail banking services 24/7 through the Citibank mobile and online banking and Citiphone services.

Multiple Currencies

This Citibank Fixed Deposit account is available to the applicants in various major currencies of the world including AUD, USD, and CAD.

Interest Rate

The bank offers competitive rates of interest on this fixed deposit that helps the account holder in growing their savings more quickly.

Automatic Renewal

Unless determined otherwise by the account holder either on or prior to the maturity date, the bank may, upon its discretion, renew your deposit automatically. The loan tenor and the rate of interest are determined by the bank, keeping in mind the recent market returns for such deposits.

Eligibility Criteria to Open Citibank Fixed Deposit Account in UAE

For Citibank Fixed Deposit Opening, the applicant has to meet certain eligibility requirements as determined by the bank. Here are the eligibility criteria for opening this account in the UAE.

Category Details
Minimum Deposit Tenure 30 days
Minimum Deposit AED 1,000

How to Open Citibank Fixed Deposit Account in UAE?

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 Fixed Deposit 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.

How to Close Citibank Fixed Deposit Account?

Before anything else, the account holder should transfer their account balance (if any) to the other bank account. They may also have to bear charges on pre-mature or early withdrawals as determined by the bank. The account holder has the following ways of closing their deposit account.

  • Visit the nearby local Citibank branch for putting a request for closing this current account in the UAE.
  • Call on the official customer care number of the bank, talk to the customer care executive and put forward the Citibank Fixed Deposit account closure request.
  • Send a text message to the bank through their online banking facility with the request of closing the account.

Citibank Fixed Deposit Account - FAQs

Question 1: What is the minimum deposit required for Citibank Fixed Deposit?

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

Question 2: 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 3: 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 4: 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 Fixed Deposit.

  • 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.

Question 5: 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 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 this bank deposit.

Question 7: When do I receive the interest on my fixed deposit account?

Answer: You will receive the interest on your deposit at the time of the maturity.

Question 8: Can I make an early withdrawal on this time deposit?

Answer: Yes, you can make an early withdrawal on this Citibank Fixed Deposit. However, the bank will deduct 50 dirhams from your earned interest in case of early withdrawal.