Deposits

Term Deposits.

Guaranteed Safety. Regular Growth.

Term Deposits

Whether you are saving for the short term or the long term, you can earn higher rates of interest with Term Deposits from Citibank. With options to earn simple or compounding interest and multiple tenures to choose from, Term Deposits are a great way to save for your future needs.

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Non-Resident External Deposit (NRE)

Non-Resident External Deposit (NRE)
  • Funds can be transferred from overseas or from any other Non-Resident External or Foreign Currency Non-Resident account with any bank in India
  • Funds can be freely repatriated in foreign currency
  • Option to choose simple interest and receive quarterly interest credits to your Rupee Checking Account or choose compound interest and receive interest upon maturity
  • Minimum tenure of 365 days and maximum tenure of 1825 days
  • Automatic roll over option available for your convenience
  • Minimum deposit amount: INR 80,000
  • Interest earned is exempt from income tax in India. However, interest earned may be subject to tax in your country of residence. Please speak with your tax consultant for additional information
  • For Simple interest, interest is accrued monthly and paid quarterly. For Compound Interest, interest is accrued every 90 days and paid at maturity

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Non-Resident Ordinary Deposit (NRO)

Non-Resident Ordinary Deposit (NRO)
  • Funds can be transferred from overseas or from a domestic bank account in India or any Non-Resident Ordinary, Non-Resident External or Foreign Currency Non-Resident account with any bank in India
  • Repatriation restricted to USD 1 MM per Account Holder per financial year with specific documentation
  • Option to choose simple interest and receive quarterly interest credits to your Rupee Checking account or choose compound interest and receive interest upon maturity
  • Minimum tenure of 7 days and maximum tenure of 1825 days
  • Automatic roll over option available for your convenience
  • Minimum deposit amount: INR 80,000
  • For Simple interest, interest is accrued monthly and paid quarterly. For Compound Interest, interest is accrued every 90 days and paid at maturity

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Foreign Currency Non-Resident (FCNR)

Foreign Currency Non-Resident (FCNR)
  • Deposits offered in 6 currencies

    • US Dollar
    • British Pound
    • Euro
    • Japanese Yen
    • Australian Dollar
    • Canadian Dollar
  • Funds can be transferred from overseas or from any other Non-Resident External or Foreign Currency Non-Resident account with any bank in India
  • Funds can be freely repatriated in foreign currency
  • Interested is compounded every 180 days and paid upon maturity
  • Minimum tenure of 365 days and maximum tenure of 1825 days
  • Automatic roll over option available for your convenience
  • Minimum deposit amount: USD 2,000
  • Interest earned is exempt from income tax in India. However, interest earned may be subject to tax in your country of residence. Please speak with your tax consultant for additional information

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Please Note:

  • If you wish to open a new Citibank Term Deposit, you will also be required to open a Citibank Rupee Checking Account. This is required to facilitate interest payout, mandate holders, and funding of the account.
  • Please note: In case of pre-termination, the interest earned on a Term Deposit is calculated differently. Click here for an illustration