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When it comes to wealth management and deposits, it is important to work with someone you trust. A foreign deposit account in Singapore may offer the peace of mind you are looking for. Citibank offers a range of deposit account types to suit your financial planning needs, even with options to hold it in your local currency. Talk to us today to learn more about how a Citibank deposit account can meet your investment goal.
Foreign Deposits
Global Account
- Enjoy an integrated international account that gives you 24-hour access to trading opportunities and a full suite of banking products and services, no matter where you are.
Checking Account
- An everyday transaction account that is designed to cater for frequent use with the convenience of a checkbook.
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USD Interest Checking Account
- Earn daily interest at competitive interest rates while enjoying the convenience of writing checks from your USD Interest Checking Account.
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Time Deposit
- Earn attractive interests with a choice of major currencies: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD and USD.
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Offshore Renminbi Time Deposit
- Enjoy attractive interest rates with a minimum deposit amount of US$50,000 or equivalent.
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Frequently Asked Questions
Foreign deposits refer to bank deposits that allow you to park money in foreign currency. The interest rates on these deposits offered by the bank may depend on the tenure and the amount. Upon the end of the tenure, you can convert your deposited funds to your residential country’s currency based on the prevailing foreign exchange rate.
Foreign deposit accounts offer fixed-term investments for varying periods, from one day to 12 months, allowing you to manage multiple currencies while enjoying competitive interest rates. This way, you can earn more returns on your investment while keeping your money safe and secure. You can also opt for automatic rollovers to ensure your deposits earn continuous interest.
The following are the benefits of deposit accounts:
• Safe foreign investment solution
• Flexible operation in multiple currencies
• Competitive interest rates
• Potentially high-yielding investment
• Convenient and flexible tenures
• Choice of multiple currencies
• A valuable tool to diversify wealth and have access to financial products not available in the residing country
There are two eligibilities that you need to fulfill for opening the account. They are:
• You need to be at least 21 years old.
• You must maintain the minimum balance as specified by the bank.
The process of opening an international deposit account in Singapore is quite simple. Here is how you can do it:
• Visit the foreign deposit page of Citi International Personal Bank
• Select the type of foreign deposit that suits your financial requirement
• Click the ‘Apply Now’ button and furnish the asked information like name, country of residence, present residential address, email id, and contact details.
• Once you furnish the required information, a Citibank executive will get in touch with you and guide you through the process of opening the account.
