Citibank Savings Account – Minimum Balance, Features and Benefits, Interest Rates

Citibank India is the world’s leading financial corporation and largest Indian Private Sector Bank. This bank was founded in the year 1902 in Calcutta, India. The bank has its headquarters in Mumbai, Maharashtra. Currently, this bank is called as Citigroup. It has a network spread of 44 Branches and over 700 ATMs located in 31 cities. The bank also offers a wide range of products and services out of which one of the most popular is the Savings Account.

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Why Citibank Savings Account is the Best Option?

When it comes to the banking needs, then the Citi Bank stands in the top choice of every individual and organizations and corporations. A Citibank Savings Account offers the following features and benefits:

• Complimentary Debit Card

When you open any type of savings account in the Citibank then, the customer gets a Debit Card in complimentary, free of charge. Through this, you can enjoy cashless transactions online, and at retail stores with your Citibank Debit Card. It also offers daily high spending and withdrawal limits.

• Ease of Internet Banking

The Citibank offers the customers the joy of Internet Banking. The Internet Banking offers a wide range online banking functions such as making payments online, checking the account balance, obtaining the account statement, transferring funds from one account to another and much more.

• Easy Cash Withdrawals at Worldwide ATMs

The Citibank has an overall network of 700 ATMs in India and over a million worldwide. So sit relaxed because wherever you go anytime anywhere you are never far from a Citibank ATM.

• Exclusive Privileges and Reward Points

Being a Citibank customer, you can earn exciting reward points and avail exclusive privileges when you carry out any transactions with your debit card which is associated with your Citibank Savings Account.

• Zero Fees for a Variety of Banking Services

Through Citibank Savings Account, you can enjoy a variety of banking services like cash withdrawals, the enquiry at ATMs in India as well as Abroad, NEFT/RTGS Transactions, cheque book replacement, replacement debit card and much more.

Types of Citibank Savings Account

The Citibank offers four types of Savings Account. These are as follows:

• Citibank Savings Account
• Citibank Savings Account for Expatriates
• Citibank Suvidha Salary Account
• Citigold

Benefits of the Citibank Savings Account

The different types of Citibank savings account have different benefits and features as per the need of the customer. These offers are provided in order, to gain maximum benefits. Following are some of the notable features of each Citibank Savings Account:

• Every Citibank savings account holder is issued with a complimentary Citibank Platinum Debit card when an account is opened.
• The account offers value-based benefits and offers, such as zero fees on a wide range of the banking services, instant fund transfer and receipt through SMS or mobile banking.
• Provides timely SMS Alerts, e-mails, and posts related to your accounts. Also offers E-Statements regarding your transaction history of your account.
• Offers attractive Interest Rates.
• You can also earn non-expiry Reward points and an earn Re 1 on every Rs 100/- spent. You can also get 2x air meals with Jet Airways and Air India.
• You can also enjoy attractive welcome privileges on a range of lifestyle products and services like dining, shopping, travel, clothing, accessories, and entertainment.

Benefits of Citibank Suvidha Salary Account

• This is a zero balance salary account, which states that you don’t have to maintain a record of the minimum balance to ensure the operation.
• Every Suvidha salary account is entitled to a chip and a PIN ATM/ Debit Card. This is accepted worldwide.
• You can enjoy limitless transactions, as this account offers daily high spending and withdrawal limit of Rs 50, 000/-.
• Also offers preferential treatment with an automatic overdraft facility of up to 5 times your net monthly salary credit.
• You can also receive real-time alerts and services for account activity, account statements and more via SMS and e-mail.
• Through this account, you can also avail of Home Loans and Personal Loans.
• Earn handful Reward Points, while making payments using your Debit Card and up to 5x Reward points at eligible grocery stores or making payments through Grocery Debit Card
• Additional Features of this savings salary account includes no cost Delivery of the Demand Drafts at multiple locations in India, NEFT and RTGS Fund Transactions, Finance Planning Services from the certified Citibank counselors on Investment and Financial Planning.

Citibank Savings Account for Expatriates (Features and Benefits)

• All the Expatriates Savings account holders are entitled to a Complimentary Citibank Platinum Debit Card which offers high spending and withdrawal limit up to Rs 1 Lakh and worldwide acceptability.
• Offers a wide range of benefits and privileges on the lifestyle products and services like dining. Travel, shopping, clothing, and accessories etc.
• Offers timely alerts and access to multiple banking services with Citi Alerts, Citibank Online, Mobile, e-Mail and Branch Banking.
• Offers attractive interest rates on your Capital with Citibank Savings Account for Expatriates.
• Through this savings account, you can enjoy a wide range of transactional benefits offered by the Citibank like Zero Transaction fee at Citibank Indian Oil Outlets, complementary withdrawals and a balance enquiry at ATMs in India and Abroad, complimentary foreign currency draft issuance and cancellation and complimentary replacement of the debit card and many more core services.
• As a part of the Rewards Program, you not only get 1% cashback on all your debit cards purchases but also earn and get 2x air meals with Jet Airways and Air India for every Rs 100/- spent. (Applicable only if you are a member of the Frequent Flyer Programme with one or both airlines
• It also provides an Emergency Cash Advance of USD 1000 to the Expatriate Savings Account Holders, if in case they lose their Debit Card while traveling a Foreign Country.

Citigold Savings Account

• With the Team-Based Relationship Management, you can also take an advice from different Financial Experts on financial matters across various segments like the wealth management, business solutions, and everyday banking needs.
• You can even maximize your capital with Integrated Wealth Planning. You can choose from a wide range of comprehensive banking and financial products as per your requirements and receive research which focuses on your Financial Goals and priorities.
• The Citibank gold focuses on maximizing the business potential by providing the best advice on business, trade, and forex.
• As a Citigold Customer, you will also receive a Complimentary World Debit Master Card which carries exclusive privileges on dining, hospitality, travel and other leisure activities.
• You can also enjoy Global Banking, no matter where you are. This offers a variety of exclusive privileges like Global Status Recognition, Cross-Border account opening privileges, access to the airport lounges worldwide. It also has an Emergency Encashment facility up to USD 3,000 and more.
• Other additional features offered by the Citi Gold Savings Bank account are One-Glance Statement, Account Representative Facility Online and Mobile Access to your account and all connected services.
• The rate of Interests Offered by the Savings Account and Minimum Balance Required:
• The above all the Savings Account offers an attractive interest rate of 4% per annum with no minimum balance required facility.

Citigold Private Client

The Citigold Private Client is a premium banking experience that is offered by the Citibank. This is specially designed to provide comprehensive business banking services with personalized wealth management and lending solutions. To be an eligible Citigold Private Client, you need to have a net relationship value of Rs 5 Crore and above with the Citibank. The services and the benefits that are offered by the Citigold Private Clients include:

• Personalized servicing for your Senior Banker.
• Undivided attention from the Citibank team of portfolio advisors and season specialists in all aspects of business, investment, and personal banking interests.
• Access to an enhanced product suit including the investment and lending products and trade and forex services.
• Preferential pricing when it comes to product suite offer.
• Access to Investment opportunities overseas.
• The customers will have the Global Benefit of getting recognized as Priority Banking Customer.
• The Citigold Private Clients can enjoy access to the expensive lounges around the world.
• You can experience the travel privileges such as the access to the International Lounges with Citigold Private Client Debit Card.
• Enjoy Signature Golfing Privileges.

Citi Priority

The City Priority is specially designed for those who wish to invest for the things that are planned and unplanned in life such as purchasing a house, the places where you want to travel to or the business where you want to invest in. The features and benefits offered when you open a Citi Priority Bank account:

• This is a Personal Banker.
• You can enjoy world-class wealth management with a wide range of the investment options.
• A Citi Premier Miles Card is issued which is complimentary for the first year with 10, 000 Bonus miles as a welcome gift.
• Can enjoy a Comprehensive Digital Financial Planner.
• One can enjoy Citi Priority Privileges Online
• Access within 20 Seconds or less to assistance on the Citiphone Helpline 24 X 7 for account related queries.
• One can also enjoy exclusive banking products such as the Citibank Personal Loan, Home Loan, Personal Accident Insurance, Premier Miles Credit Card and Citi Business Current Account.
• Enjoy Preferential Pricing, Zero Processing Fees, Minimal Documentation, Fee Waivers and more on the exclusive Banking Products.
• The Citibank also offers a wide range of Global Banking Services such as access to emergency cash abroad, account opening assistance for those who are moving abroad, free withdrawals at all the ATMs around the world and other Value-Added Services.
• Simplified experience banking and easily accessible with Citi Mobile, Tablet Banking, SMS or Mobile Banking, and Online Banking.

Citibank Savings Account

The Citibank Savings Account offers a wide range of Benefits and Privileges attached. The customers can enjoy preferential banking services. To be an eligible Citibank Savings Account holder you need to maintain a minimum of Rs 2 Lakhs relationship value with Citibank. This amount is then distributed over different sections like the savings, investments, insurance, Home Loans, Demat Account and so on. The motto of this account is “My Money. My Way”. The basic features and benefits of this bank account are as follows:

• A Complimentary Platinum Debit Card is issued with free ATM withdrawal. This has a withdrawal limit of Rs 1 Lakh and convenient cashless transactions.
• Reward points are earned on a spend of the Debit Card.
• A number of Banking services are offered free of charge on this account.
• Access within 20 Seconds or less assistance on the Citiphone helpline 24X7 for account related queries.
• One can also enjoy exclusive banking products such as the Citibank Personal Loan, Home Loan, Personal Accident Insurance, Premier Miles Credit Card and Citi Business Current Account.
• Enjoy Preferential Pricing, Zero Processing Fees, Minimal Documentation, Fee Waivers and more on the exclusive Banking Products.
• The Citibank also offers a wide range of Global Banking Services such as access to emergency cash abroad, account opening assistance for those who are moving abroad, free withdrawals at all the ATMs around the world and other Value-Added Services.
• Simplified experience banking and easily accessible with Citi Mobile, Tablet Banking, SMS or Mobile Banking, and Online Banking.
• An Interest of 4% per annum is calculated on a daily balance and paid out Half-Yearly.
• One can enjoy the access to Personal Loans in just 48 Hours for up to Rs 15 Lakhs and Home Loans for up to Rs 10 Crores.

Global Banking

The Citibank has a wide spread of network all over the world. It has about 4000 Branches and 20, 000 ATMs across 42 Countries all over the world. The customers can avail the facilities anywhere and anytime they want. The services that are offered by the Global Banking are as follows:

• For the expats who are moving to India, the Citibank has customized solutions to help to make it move smoothly.
• If you are planning to move overseas, then you can get a head start with a help of the Citibank.
• The Citibank helps the NRI Clients to manage their Finance and Banking needs in India.
• The fund transfers are easy and secure with the Citi Bank across the Globe.
• For travelers, the Citibank offers a number of Benefits in their Global Banking Network.

Important Points to Make a Note

• A complimentary Citibank Platinum Debit Card is issued while opening a Citibank Savings Account.
• There are no withdrawal charges levied on the ATM Withdrawals made from the Citibank Savings Account.
• The customers receive never-ending reward points for every spend you do. You earn 1 reward point on every Rs 100 spent on your card.
• The Savings Accounts attracts an Interest Rate of 4% per annum which is calculated on the daily basis and the interest is payable at the half-yearly basis.
• You can change the Nominee of your bank account by filling up the Nomination Form and sending it to the NRI Service Center of your Residence. The mailing address is Citibank, N.A. Mail Room, No. 2, Club House Road, Chennai- 600 002 Tamil Nadu India. If you are in a country then you can visit the nearest bank branch of Citibank to change the Nominee.
• The monthly statement will include all the transactions that are made from your Rupee Checking Account whether it is through the Debit Card, Net Banking, Fund Transfers or Banking account. There is no separate statement for debit card transactions.