About Citibank
Citibank commenced its operations more than a century ago in 1902 in Kolkata, India. Today, the bank is counted amongst the most significant foreign investors and market players in the Indian financial market. Citibank has 2,649 branches in 19 countries. With a global presence of this size, it serves its customers with personal finance services, asset management, and investment banking services. These services cater to every segment of society including the salaried, affluent, and high net-worth individuals. Apart from home loans, saving bank accounts, and fixed deposits, the bank has been a major player in the credit card segment with more than 2.3 million active credit cards.
Benefits of Citibank Fixed Deposit
- 1. Different types of fixed deposit schemes - Citibank offers a diverse range of fixed deposit schemes such as fixed deposits, multi deposits, senior citizen deposits, and tax saver deposits. Citibank fixed deposit rates on these schemes can help investors earn decent returns with minimal risks.
- 2. Low minimum deposit amount - Investors need a minimum of Rs. 1,000 to open an FD account with Citibank. Given the nominal amount, it becomes easier for investors of different income categories to deposit money in an FD scheme and earn guaranteed return.
- 3. Tax-saver fixed deposits - As per the Finance Act of 2006, term deposits for 5 years up to an amount of Rs. 1,50,000 is applicable for benefit under Section 80C of the Income Tax Act, 1961. If you invest in a tax saver FD scheme with a lock-in period of 5 years, you can avail of a deduction of up to Rs. 1,50,000 in a financial year (April to March).
- 4. High net relationship value benefits - Individuals with a high net relationship value (NRV) with Citibank qualify for preferential services which include the following:
- Dedicated relationship manager
- Lower rates and quicker processing of loans
- Higher credit and withdrawal limits on cards
- Special promotional offers from time to time
