| Media Release 09-07-2007 |
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| Newsroom |
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| CITIBANK OFFERS SAVERS 7.00%P.A. |
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| Sydney, 9 July 2007: Citibank has announced an interest rate of 7.00%p.a. on new funds held in the Linked Savings Accounts of its Citibank Plus account. The interest rate will rise from 6.00%p.a. to 7.00%p.a. effective as of 1 July 2007 and be available until 31 December 2007. Customers will need to maintain an average minimum monthly balance of $5,000 in their no-interest Citibank Plus Transaction Account1. |
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| Citibank Plus provides an everyday transaction account with up to three Linked Savings Accounts. Customers who keep less than the $5,000 average minimum monthly balance in their no-interest Citibank Plus Transaction Account will still receive a very competitive 6.00%p.a. on savings that are held in a Linked Savings Account. |
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| Suvrat Saigal, Director of Wealth Management at Citibank said: "The 7.00%p.a. rate will appeal to affluent customers who are looking to earn a significant rate on their savings. On the other hand, customers who don't maintain a $5,000 minimum monthly average balance in their transaction account will still earn a very competitive 6.00%p.a on their savings. This is really rewarding serious savers with a top rate of interest." |
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| Existing Citibank Plus customers will receive the new rate on additional new funds deposited from July 1 in their Linked Savings Accounts, provided they also hold $5,000 in their no-interest Citibank Plus Transaction Account2. |
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| Mr Saigal continued: "Citibank Plus is the smart place to put your money - the only account customers need for all their transaction and savings needs. On top of the ability to earn a great rate, the award winning Citibank Plus lets customers use any ATM in Australia free of charge, and if they credit their salary into the account each month, the $5 per month account keeping fee is waived." |
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| Other features of Citibank Plus |
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- Funds in the Linked Savings Accounts can be transferred instantly to the Transaction Account via Internet or Phone Banking
- An award winning account with unlimited transactions3 at one low cost of $5 per month. This is waived when a customer's salary (minimum $3,000 per month) is credited to their Citibank Plus Transaction Account
- One combined statement for the Transaction and Linked Savings Accounts
- Visa Debit Citicard
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| More information on Citibank Plus is available at www.citibank.com.au or by phoning 1300 137 931. |
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| Media enquiries: |
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| Leila Dean:T: (02) 8225 1658 M: 0404 509 894 leila.dean@citi.com |
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| Notes to editors: |
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| 1. Interest rate is variable and effective from 1 July 2007 until 31 December 2007. After 31 December 2007, the interest rate on all funds held in the Linked Savings Account will revert to the standard variable rate paid on the Linked Savings Account. The promotional interest rate is made up of the standard rate (currently 6.00%p.a as at 30/6/07), which is calculated daily and paid monthly, and the bonus rate which is calculated daily and paid quarterly (on or before 15 October 2007 and on or before 15 January 2008 and provided their account is still open on those dates). Offer available only on the first Citibank Plus account opened and on total funds held in Linked Savings Accounts up to a maximum of $1 million. The recommended minimum investment in the Linked Savings Account is $30,000. |
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| The Terms & Conditions and fees & charges that apply are available on request at www.citibank.com.au or 1300 137 931. |
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| 2. Additional conditions apply for existing Citibank deposit account holders (including and apart from existing Citibank Plus deposit account holders), which include a requirement for existing Bank customers to maintain at least the total amount of their deposit holdings (including funds held in joint accounts) with the Bank as at 30 June 2006 before the bonus rate applies. Existing Bank customers should contact their Relationship Manager for full details of the additional conditions. |
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| 3. Transactions include the use of any ATM in Australia, EFTPOS, cheque withdrawals, direct credits and debits, BPAY®, cash and cheque deposits at Australia Post, internet and phone banking but does not include product service charges such as foreign currency transactions, defaults, overdrafts and bank cheque fees. |
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| Citibank Plus is issued by Citigroup Pty Ltd ABN 88 004 325 080 ("Citibank"). |
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| Citi |
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| Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, and Citi Smith Barney. Additional information may be found at www.citi.com.au or www.citibank.com.au |
