| Media release 27-02-2008 |
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| Newsroom |
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| MORE BANG FOR BUCK FOR BIG SAVERS |
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| Citibank launches Ultimate Saver Deposit account |
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| Sydney, 27February 2008: Citibank has launched the Ultimate Saver, a market-leading deposit account targeting customers with large net deposit balances. |
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| Aimed at high-balance deposit customers, the Citibank Ultimate Saver offers a very high interest rate of 8.00%p.a.1 on the portion of the balance from $10,000 to $1,000,000. |
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| Distinct from comparable high interest rate products, the Citibank Ultimate Saver also provides the benefit of full functionality and instant access to funds through a Visa debit ATM card, internet and telephone banking. |
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| The Ultimate Saver provides an interest rate that is superior to many term deposit rates, without the restriction of having money locked away for a set period of time or having the inconvenience of waiting to transfer savings out of linked accounts - as is the case with most high rate, internet based savings accounts. |
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| According to Director of Wealth Management at Citibank, Suvrat Saigal, the product was created with current market conditions in mind. |
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| "The high interest rate environment, coupled with instability in the share-market means that it is a good time for Australians to save their money and earn interest through high interest bearing deposit accounts," Mr Saigal said. |
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| "We'd urge anyone with large deposit balances to weigh up their options for higher interest because we can offer deposit products that the big four locals are currently not offering. |
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| "We're confident we're offering a highly competitive rate, accompanied by features like instant access to funds. We think this is an important feature for those who like the freedom to move their money quickly to take advantage of investment opportunities, whilst still benefiting from a top rate of interest." |
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| 1 No interest is earned on the portion below $10,000 |
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| Citibank Ultimate Saver is issued by Citigroup Pty Limited ABN 88 004 323 080, AFSL 238098 ("Citibank"). The fees & charges and Terms & Conditions that apply are available on request. Further information and our dispute resolution process is available at www.citibank.com.au or by phone on 1300 137 931. Any advice is general advice only. It was prepared without taking into account your objectives, financial situation or needs and because of that, before acting on the advice, you should consider the appropriateness of the advice, having regard to your objectives and personal circumstances. |
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| Media enquiries: |
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| Kristen Kaus: T:(02) 8225 1631 M:0421 380 773 kristen.kaus@citi.com |
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| Leila Dean:T:(02) 8225 1658 M: 0404 509 894 leila.dean@citi.com |
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| MEDIA RELEASE |
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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, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com. |
