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Citibank Online Saver 3.40% 4 Months Then 2% P.a. Rates Variable

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Citibank Online Saver 3.40% 4 Months Then 2% P.a. Rates Variable
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Peck on 19/08/2016 - 12:37 citibank.com.au (331 clicks)
Last edited 19/08/2016 - 17:08

Earn 3.40% p.a. variable rate for the first 4 months, on balances below $500,000. (see note 1)
Save more with no monthly fees, plus there's no minimum balance.

Rates are Variable.

  1. Interest rates are variable and subject to change. Applicable on the first Citibank Online Saver that you open. To receive the variable introductory interest rate, the daily account balance must remain below AUD$500,000. At the end of the introductory period (or for balances AUD$500,000 or more) you'll receive the 2.00% p.a. standard variable rate on the full balance.
    See full T & C's https://www.citibank.com.au/global_docs/pdf/AUD_Terms_Condit…
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closed Comments

  • [Deactivated] on 19/08/2016 - 13:05
    -3

    old news

    • Peck on 19/08/2016 - 15:30

      Sorry I could not find it 'posted'

  • [Deactivated] on 19/08/2016 - 13:36

    so if i'm reading it correctly after the 4 months are up it'll cost money to close/move the funds out to another bank?

    • OzSikh on 19/08/2016 - 13:45

      I think you're reading it wrong.

      No fee for Online Saver

  • Ryugen on 19/08/2016 - 13:58

    Been out for a while I believe, I know i used this I think August 2015. Sat on the 2% ever since, cause I'm really lazy in switching banks.

  • wombat1955 on 19/08/2016 - 15:07

    I'm in the process of switching to this after being an ING customer for a long time. Now that I'm retired and no longer have an income, I am losing the ATM rebate and the bonus interest on my Savings Maximiser account. This drops my interest down to 1.75%. I am opening the Citibank Online Saver account to get the promotional 3.4% interest rate and then get 2% until such time as they decide to change it. In addition, I am also opening a Citibank Plus Everyday account where I can transfer money to instantly and use Westpac or BankSA ATM's in Adelaide fee free, or any of 3000 ATM's across the country. No fees are charged on either of these accounts.

    • gm3stevens on 19/08/2016 - 22:18
      +1

      At the end of the 4th month, you can open a MEBank online savings account to get 3.35% interest rate. The only catch is that you have to make a weekly purchase with your ETA Debit MasterCard using tap & go.

    • yasui on 27/08/2016 - 22:59
      +1

      I think you still can get ATM rebate and bonus interest from ING even if you don't have an income. The condition getting bonus interest out of Savings Maximiser account is to deposit $1,000 every month and you can still withdraw any amount. So, you set automatic scheduled transfer and move $1,000 from ING to another bank every month. Then, from set scheduled transfer of $1,000 from that bank to ING every month. That way you can deposit $1,000 even if you don't have an income.

      • wombat1955 on 29/08/2016 - 17:13

        They specifically state wages in their terms, but if that's the case, I'll do that instead. When I was on a cruise earlier this year, the ATM on the ship charged $6 for a withdrawal and ING refunded it each time. Thanks for the tip.

  • rogsamsy on 19/08/2016 - 15:12
    +3

    Just a word of warning, they have not yet adjusted their rate since the RBA did recently so it could be going down shortly..

  • Peck on 19/08/2016 - 15:33

    If anyone wants to lock in 3.2% for 2 years Min.$5,000.
    https://www.anz.com.au/personal/bank-accounts/term-deposits/

  • MaMan on 19/08/2016 - 16:03
    +2

    Damn below $500,0001, I am out.

  • Wolfy on 19/08/2016 - 19:00
    +1

    The mobile app is a little cumbersome but it's not a bad idea to dump all your spending money into the Online Saver, then transfer it -as you need it- to the spending Plus Everyday account, can even do this while waiting at the checkout while shopping.

  • kronicmacstigator on 19/08/2016 - 23:04

    Love the banks… my investments currently returning anywhere from 800-1500% PA.

    They wonder why I tell them 'hell no' when they ask if I want to invest in shares using margin loans…

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