Home / Industry / Banking /  Citibank India hikes FD rates, now offers up to 7.25% on 181 to 400 days tenor
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Citibank India has hiked interest rates on fixed deposits of less than 2 Cr. As per the official website of the bank, the new rates are effective as of January 13, 2023. Following the revision, the bank is now providing interest rates on deposits that mature in 7 days to 1096 days that range from 2.10% to 3.50%. Citibank is giving a maximum interest rate of 7.25% on deposits with a tenor of 181 days to 400 days.

Citibank FD Rates

The bank is giving interest rates ranging from 2.10% on deposits maturing in 7 to 14 days, and Citibank is offering an interest rate of 2.15% on deposits maturing in 15 to 35 days. Citibank used to give a 3.50% interest rate on deposits with a term of 36 to 180 days, but as of right now, the bank is offering a 7.25% interest rate on deposits with a term of 181 days to 400 days. Now, deposits with maturities between 401 and 1096 days will earn interest at a rate of 3.50%.

Citibank FD Rates
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Citibank FD Rates (citibank.co.in)

Furthermore, Citibank allows recurring deposits (RDs) with a minimum deposit of 1,000 and a maximum of 20,000, and a deposit term of 12 months to 24 months. The bank is giving an interest rate of 3.50% to the general public and 4% to senior citizens on tax saver deposits of 5 years. Citibank is providing an additional 50 basis points of interest on deposits made by elderly persons. The bank is providing senior citizens with a maximum interest rate of 7.75% on a deposit tenor of 181 to 400 days.

To register a Citibank Time Deposit if you do not already have one, you must first create a Citibank Savings Account. To benefit from a higher Net Relationship Value (NAV) with the bank, you can link your deposit to a Citibank savings or current account. “To ensure our Deposit Account Customers too qualify for the same benefits, all deposits are automatically linked to the individual's existing Citibank Savings or Current Account thereby raising their Net Relationship Value with Citibank," mentioned Citibank on its website.

With a minimum deposit of Rs. 1000, you may easily book deposits with the bank via Citibank Online or the Citi Mobile smart banking app.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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