Citibank Fixed Deposit

About Citibank

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.

What is a fixed deposit?

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!

What should I know before applying for fixed deposits?

  • Interest rates

    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.

  • Tenure

    Different banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.

  • Hidden fees

    It is crucial to identify all costs incurred to avoid spending more than expected.

  • Penalty

    You should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.

  • Banks

    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.

What are the types of fixed deposits offered by Citibank?

Citibank offers 1 type of fixed deposit, which is Time Deposit.

Who can apply for Time Deposit?

You are eligible to apply for Time Deposit if you are at least 18 years old.

Why should I choose Time Deposit?

Among other reasons, you should choose Time Deposit because:

  • Flexible tenure (1 to 60 months)
  • Protection by PIDM (up to RM250,000)
  • Option to have your interest credited monthly
  • Partial withdrawal is available
  • Initial interest rate remains after withdrawal

What are the documents required to apply for Time Deposit?

Your identification card is the only document needed to apply for Time Deposit.

What is the tenure of Time Deposit?

1 to 60 months.

What is the minimum amount to deposit into Time Deposit?

  • 1 month: RM5,000
  • 2 months and above: RM1,000

A minimum deposit of RM50,000 for a minimum tenure of 6 months is needed for monthly interest crediting.

What are the fees for Time Deposit?

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

What happens if I withdraw my money before maturity?

  • Within 3 months of account opening: No interest will be paid to you
  • After 3 months of account opening: 50% interest of the completed months will be paid to you

How do I contact Citibank for further information about Time Deposit?

You can contact Citibank through these channels:

  • Phone:
    • Klang Valley – 03-2383 0000
    • Penang – 04-296 0000
    • Johor – 07-340 6000
    • Sabah and Sarawak – 1-800-82-1010
  • Live chat: Visit here
  • Branch visit: Click here to locate the nearest branch

What are the common terms of fixed deposit?

  • “p.a.”

    It stands for per annum or each year.

  • “Interest rate”

    The amount of return earned by depositors.

  • “Tenure”

    The amount of time the money is locked in a fixed deposit account.

  • “Deposit”

    The amount of money locked in a fixed deposit account to earn interest.

  • “Penalty”

    The additional charge from the bank for withdrawals before maturity (or premature withdrawal).

  • “Maturity”

    The end of a set time when an investment becomes due, and the principal and interest are repaid.

  • “Premature withdrawal”

    The money withdrawal in a fixed deposit account before maturity.

  • “Partial withdrawal”

    The withdrawal of part of the amount in a fixed deposit account before maturity.