| Media release 07-03-2008 |
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| Newsroom |
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| NEVER A BETTER TIME TO SAVE WITH CITIBANK |
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| Citibank provides top rates for active and aspiring savers |
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| Citibank Plus linked savings account interest rate raised 50 bps to 7.00 1 percent p.a., effective 7 March |
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| Citibank Ultimate Saver offers 8.00 percent p.a. 2 |
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| Sydney, 7 March 2008: Citibank is now offering a range of market-leading deposit products to suit both active savers with large net balances and aspiring savers. |
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| From March 7, the award-winning Citibank Plus account will provide customers with 7.00 percent p.a. on their linked savings account. |
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| Generally suited to those trying to get their savings plan off the ground, the Citibank Plus account provides an everyday transaction account with up to three Linked Savings Accounts. The Linked Savings Accounts earn a high rate of 7.00 percent p.a. interest while the transaction account provides the flexibility of unlimited free transactions 3, and no ATM fees. |
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| For conscientious savers with high-net balances, Citibank has recently launched the Ultimate Saver, a market-leading deposit account offering a very high interest rate of 8.00 percent p.a. on the portion of the balance from $10,000 to $1,000,000 2. |
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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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| According to Director of Wealth Management at Citibank, Suvrat Saigal, Citibank is offering customers the opportunity to obtain the full benefit of current market conditions |
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| "The interest rate environment has made it even more attractive for Australians to save their money and earn interest through high interest bearing deposit accounts," Mr Saigal said. |
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| "I'd urge all Australians to do their research and weigh up their options to find a deposit product that will not only suit their needs but will also offer them the maximum possible interest rates." |
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| "Citibank is a smart place to put your money and we're confident that our products offer highly competitive rates with features like instant access to funds. Full functionality is important, particularly for those who like to move their money quickly to take advantage of investment opportunities, whilst still benefiting from a top rate of interest." |
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| Citibank Plus features: |
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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 transactions 3 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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| Citibank Ultimate Saver features: |
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- Interest rate of 8.00%p.a.2 on the portion of the balance from $10,000 to $1,000,000
- Instant access to funds through a Visa debit ATM card
- Internet and telephone banking
- Visa Debit Citicard
- No monthly fee - including unlimited online transactions, ATM transactions and Citibank Global transfers
- Interest calculated daily and paid monthly
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- Interest rate is effective 7 March 2008 and subject to change at any time.
The Citibank Plus Transaction account does not earn interest.
- Stepped interest rates apply (meaning different rates of interest apply to different portions of your account balance). The portion of your balance under $10,000 does not earn interest. Rate of 8.00%p.a applies to the portion of your balance from $10,000 to $1,000,000. Rate of 7.25%p.a applies to the portion of your balance over $1,000,000. Interest rates are effective from 3 March 2008 and are subject to change at any time. Minimum ongoing balance of $10,000 applies.
- Unlimited free transactions excludes charges for bank cheques, international payments and foreign currency services, overdrafts, dishonours and other product services (see our Schedule of Fees and Charges).
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| Citibank Plus and Citibank Ultimate Saver are issued by Citigroup Pty Limited ABN 88 004 325 080, AFSL 238098 ('Citibank'). The fees and charges and Terms and 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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| 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. |
