Citibank Berhad is a part of Citigroup. In Malaysia, Citibank is a licensed commercial bank established in 1959 and is currently a premier global digital bank in Malaysia. The wide range of financial products and services to consumers, corporations, and institutions like consumer banking, securities, treasury, and trade has made it a global financial leader.
Fixed deposit (FD) can be an excellent choice for new investors as it offers higher interest rates than regular savings accounts. The duration and return on these investments are also protected by the government, ensuring that your hard-earned money is safe from creditors!
You should know the interest rates upon maturity to ensure you gain a great amount of return. Interest rates differ from bank to bank and tenure to tenure.
Different banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.
It is crucial to identify all costs incurred to avoid spending more than expected.
You should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.
Being aware of the customer service and the reputation of the bank you are planning to apply your fixed deposit account is an important step! Do thorough research before deciding on a bank.
Citibank offers 1 type of fixed deposit, which is Time Deposit.
You are eligible to apply for Time Deposit if you are at least 18 years old.
Among other reasons, you should choose Time Deposit because:
Your identification card is the only document needed to apply for Time Deposit.
1 to 60 months.
A minimum deposit of RM50,000 for a minimum tenure of 6 months is needed for monthly interest crediting.
The interest rate depends on your tenure (*1.1% – 1.3% p.a.) Other fees are not disclosed. Contact Citibank for more information.
*As of 25 March 2022
You can contact Citibank through these channels:
It stands for per annum or each year.
The amount of return earned by depositors.
The amount of time the money is locked in a fixed deposit account.
The amount of money locked in a fixed deposit account to earn interest.
The additional charge from the bank for withdrawals before maturity (or premature withdrawal).
The end of a set time when an investment becomes due, and the principal and interest are repaid.
The money withdrawal in a fixed deposit account before maturity.
The withdrawal of part of the amount in a fixed deposit account before maturity.