Citibank Savings Account

No matter the savings are being done for a huge purchase or simply for the future, the Citibank Savings Account helps the account holder in realizing their savings goals faster. They can save and earn more through this account.

The account holder has the option of opening this account in various currencies other than UAE dirhams. They can raise their savings with the high-interest rates offered on this account.

Citibank Savings Account - Features and Benefits

Citibank offers two types of savings account in the UAE.

Citi Savings Account

This is a basic savings account that offers a high Citibank savings interest rate. Here are a few key features and benefits of this account.

Interest Earning

The interest on this account is calculated on the basis of the minimum average monthly balance. The interest earned gets credited to the account on a monthly basis.

Withdrawals

The account holder can make a maximum withdrawal of AED 10,000 from this account in a day without any charge through the Citibank ATMs across the globe. For making withdrawals from non-Citi ATMs, they will have to pay a charge of AED 2 on each transaction within as well as outside the UAE.

Multiple Currencies

This Citibank Savings Account is available in not just UAE dirhams, but also in other major currencies of the world.

Customer Service

The account holder can avail the Citibank 24/7 banking services with Citiphone. They can also avail the online and mobile banking services of the bank.

Citibest Account

This Citibank Savings Account is available in US dollars with high rates of interest. Here are a few features and benefits of this account.

Interest Earning

The interest on the funds is calculated at the end of each day on the basis of the balance maintained in this Citibest Account. The accrued interest gets credited to the account every month.

Currency

This Citibank Account is available in US Dollars to the residents of the UAE.

Minimum Balance

The account holder has to maintain a minimum balance of USD 100,000 (350,000 in dirhams) yearly.

Eligibility Criteria to Open Citibank Savings Account in UAE

For Citibank Savings Account Opening, there are certain eligibility criteria as set by the bank, which the applicant has to meet. Following are the eligibility requirements for getting this account opened.

Bank Account Name Category Details
 Citi Savings Account
  • Age
  • 18 years (minimum)
  • Minimum Average Monthly Balance
  • AED 3,000
 CitiBest Account
  • Age
  • 18 years (minimum)
  • Residence
  • UAE Resident only
  • Minimum Average Yearly Balance
  • USD 100,000/AED 350,000

How to Open Citibank Savings Account in UAE?

For opening this Citibank Savings Account, the applicant will have the following options.

Through Phone Banking

The applicant can get their savings account opened through phone banking by calling on the official customer care number of the bank.

Through Citibank Online Banking

The bank offers a simple and convenient online banking service to its customers. The hopefuls can open their savings account via this online portal easily irrespective of the time and location.

Through Citibank Branch

Citibank has a lot of branches in the UAE. The applicant can visit the branch nearest to them for opening this Citibank Savings Account.

How to Close Citibank Savings Account?

If the account holder wants to go for this Citibank account closure in the UAE, they must transfer the balance on their account (if any) to some other bank account they have. Listed below are the ways of savings account closure in the UAE.

  • Sending a message to Citibank via the online banking service with the account closure request.
  • Calling on Citibank’s official customer care number, and putting forward the request for the closure of Citibank Savings Account.
  • Visiting the nearest local branch of Citibank for the closure of the savings account in the UAE.

Citibank Savings Account - FAQs

Question 1: Do I have the option of opening this savings account in any currency apart from AED?

Answer: Yes, you can open this account in various major currencies around the globe other than AED also.

Question 2: What amount of fees do I have to pay to set up standing instructions on my Citibank Savings Account?

Answer: You will have to pay a charge of AED 50 to set up standing instructions on your savings account.

Question 3: What charges do I have to pay for making withdrawals via the Citibank ATMs in the UAE as well as outside the UAE?

Answer: You can make a maximum withdrawal of AED 10,000 from this account in a day without any charge through the Citibank ATMs across the globe. For making withdrawals from non-Citi ATMs, you will have to pay a charge of AED 2 on each transaction within as well as outside the UAE.

Question 4: What minimum average balance do I have to maintain on this savings account?

Answer: The Citibank Savings Minimum Balance Requirement in the UAE is AED 3,000 monthly. However, in the case of CitiBest Account, you have to maintain a minimum average balance of USD 100,000 or AED 350,000 yearly.

Question 5: Is there any monthly fee chargeable on my savings account?

Answer: If your minimum monthly balance becomes less than AED 3000, then, you will be charged a monthly penalty of AED 25. However, in case you maintain your minimum balance every month, you do not owe any such penalty to the bank.

Question 6: What amount of fees do I have to pay to get an additional bank statement on this Citibank Savings Account?

Answer: You will be charged a fee of AED 25 for getting an additional statement.

Question 7: What amount of fees do I have to pay for closing my savings account?

Answer: The bank will charge a fee of AED 100 for closing your savings account if it is being closed within one year.

Question 8: What are the Citibank savings account interest rate available on CitiBest Account?

Answer: The Citibank offers the following interest rates on the CitiBest 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