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Citibank term deposits paying up to 3.50%

Citibank term deposits paying up to 3.50%

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.

InstitutionInterest rateTermInvestment
Woolworths Employees’ Credit Union2.15%12 months$5,000 and above
G&C Mutual Bank2.05%4 months$1,000 and above
ME Bank2.05%6 months$5,000 to $2 million
BCU2.05%36 months$250,000 to $999,999

* All data in this article was accurate as of 19 September 2019

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