Citibank is paying term deposit rates of up to 3.50 per cent for Australians who have at least $250,000 to invest.
Citi will pay term deposit interest rates of 3.50 per cent to Australians who invest $250,000 or more in eligible investment products, with at least $125,000 of that in a term deposit.
Investors can choose between three-month and six-month terms – although this offer is open only to wholesale investors.
Regular investors, who invest between $250,000 and $2 million, can earn 2.40 per cent interest.
Again, they can choose either a three-month term deposit or a six-month term deposit.
Citi also offers term deposits for Australians who have less money to invest, starting from $10,000.
Terms range from one month to five years, with the highest interest rate being 1.60 per cent for a 12-month term deposit.
Term deposit rates at record-low levels
Interest rates vary from institution to institution, so it’s a good idea to compare term deposits before deciding where to invest.
Right now, with interest rates at record-low levels, it’s very hard hard to find term deposit interest rates above 2 per cent.
| Institution | Interest rate | Term | Investment |
|---|---|---|---|
| Woolworths Employees’ Credit Union | 2.15% | 12 months | $5,000 and above |
| G&C Mutual Bank | 2.05% | 4 months | $1,000 and above |
| ME Bank | 2.05% | 6 months | $5,000 to $2 million |
| BCU | 2.05% | 36 months | $250,000 to $999,999 |
* All data in this article was accurate as of 19 September 2019