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| Home>Newsroom>10 August 2006 |
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| Media Release 10-08-2006 |
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| Citibank increases savings rates for customers across deposit products |
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| Sydney, 10 August 2006: Citibank has lifted interest rates on Citibank Plus, Breakable Term Deposit and Online Cash Manager. |
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| Citibank Plus customers benefit from a 10 basis points increase bringing the rate to 5.85%p.a.* |
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| Citibank Plus is a day-to-day transaction account that provides unlimited transactions and comes with the option to link up to three savings accounts. |
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| Citibank Breakable Term Deposit has a competitive interest rate of 6.50%p.a. (for investments over $100,000), up 30 basis points. This increase means the product has one of the best one-year rates advertised in the market. The product allows customers to earn up to 6.50% p.a. for 12 months; unlike other term deposits, customers will still earn 5%p.a. even if they break their term. |
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| Effective 1 September, Citibank Online Cash Manager will also offer a top tier interest rate (for balances over $100,000) of 5.85%p.a., up 25 basis points. |
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| Nicholas Cowell, Director Citibank Retail Bank, said: "We constantly review rates on our products with the aim of ensuring they remain highly competitive for our customers's. |
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| "These increases certainly confirm Citibank's deposit products as being market leading in value. With Citibank Plus, for example, our customers have the best of both worlds - unlimited transactions for a low monthly fee and now an even higher interest rate on the savings accounts." |
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Features of Citibank Plus:
Unlimited transactions at one low cost of $5 per month. 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. There are additional fees for bank cheques, telegraphic transfers and transfers over $10,000.
High 5.85%p.a*. on each linked savings account, calculated daily and paid monthly. No minimum balance on either the transaction or savings accounts. Immediate access to cash in the savings account via Internet and Phone Banking. One combined statement for transaction and savings accounts |
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| More information on the Citibank's deposit products is available at www.citibank.com.au. |
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| For media enquiries: |
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| Anita Fu: T: (02) 8225 1631, M: 0401 862 986, anita1.fu@citigroup.com |
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| Leila Dean: T: (02) 8225 1658, M: 0404 509 894, leila.dean@citigroup.com |
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| Note to editors: |
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| *Interest rates are subject to change at any time |
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