Citibank has a lot of branches in Singapore. It offers a variety of investment products for the investors. Some of them are
- Deposit Insurance scheme
- Singapore Dollars Term Deposit Scheme
- Foreign Currency Deposit
You can visit any of the Citibank branches in Singapore to apply for any of the products. Some of the locations in which the Citibank branches are available in Singapore are:
- Citibank, Bedok SMRT Station, Instant Banking Centre, Singapore.
- Citibank, No 3, Changi Business Park, Crescent Level 1, Singapore – 486026
- Citibank, Parkway Parade Branch, 80, Marine Parade Road, Singapore – 449269
Singapore Dollars Term / Fixed Deposit Scheme:
Features and Benefits:
- The minimum deposit that has to be made for this account is S$ 10,000.
- You can choose flexible time period for your investments i.e. 1 month to 36 months.
- The term deposits will be automatically renewed when the amount matures on the maturity date. If you do not want to renew the deposit automatically, then you have to contact the bank and intimate the same. If you do so, you will get the invested amount and the interest accrued for your investments on the date of maturity. If the fixed deposit is renewed automatically, then the prevailing interest rates will be applied for the investments.
- If you need overdraft facility for your investments, then you can get overdraft for your deposit amount. You will get a better interest rate for the same.
- The deposits are insured under deposit insurance scheme. You will also get the protection from Singapore government for your investments under “Singapore Government guarantee” scheme.
The interest rates for the fixed deposits vary frequently. You have to visit the related websites or Citibank website or the nearest bank for getting the latest interest rates.
Some of the latest rates (as on July, 2010) for various term deposit schemes are listed below. You have to get the latest interest from related websites.
Duration: 6 months
Amount: S$ 10,000 to S$ 50,000
Rate: 0.25%
Duration: 12 months
Amount: S$ 10,000 to S$ 50,000
Rate: 0.35%
Next Step: How to find the Best Interest Rates?
Get the details of the various interest rates offered by Citibank. You can find them in related websites.
