Foreign Currency Fixed Deposit Account
At Citibank IPB Singapore, we bring you a world of international investment opportunities. If you are looking for a more conservative overseas investment, our Multi-Currency Time Deposit is a great choice. Enjoy unmatched flexibility in managing your wealth with a wide range of currencies and tenures. Our competitive interest rates plus foreign exchange gains offer potentially higher returns for your investments. Additionally, if you need to withdraw money you can do so in blocks of US$5,000 (or equivalent), without losing the interest earned you have earned.
Consider opening a Fixed Deposit Account in Singapore to diversify and enhance your wealth overseas. Achieve your financial goals with a Time Deposit Account today.
Why deposit in a Citibank Time Deposit?
- Earn attractive interests with a choice of major currencies: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD and USD.
- Choice of tenures: Overnight, 1 week, 1, 2, 3, 6, 9 and 12 months.
- Minimum US$50,000 (or equivalent) to establish a time deposit (no minimum required for overnight deposit) Please be reminded that the interest rate for Overnight deposits denominated in Singapore dollar and foreign currencies has been at 0% p.a. for all balances until further notice.
- Unfixed* feature where partial withdrawals are allowed.
- Automatic rollover facility to ensure your deposits earn interest continuously.
- Freedom to switch between the 10 currencies with no penalty fees**.
- Overdraft facility with your deposit as collateral.
- A great investment tool for portfolio diversification and risk management.
- Earn potentially higher interest rates than a savings account.
Why choose to deposit in Singapore?
- Singapore is synonymous with being a global financial hub for trade and business.
- With a strictly regulated banking sector, free trade practices and a highly diversified economy, Singapore becomes a desirable overseas wealth management location.
Discover global opportunities for your wealth by investing in Singapore with Citi IPB Deposit Accounts. With 20,000 Citibank and shared network ATMs worldwide, you can access your money in Singapore conveniently, from wherever you reside.
*For partial withdrawal, the minimum amount that can be withdrawn is US$5,000 (or equivalent), with at least US$50,000 (or equivalent) to be maintained in your account at all times. For pre-termination of deposit, the Bank reserves the right to charge a penalty fee, which will be deducted from the withdrawn amount.
**You may switch between any of the currencies without penalty, as long as the original maturity date remains or is extended, and under normal market conditions. This feature is not applicable to SGD Time Deposits.
Flexible placements and renewals
For your convenience, you can:
- Deposit cash in SGD, USD, AUD, HKD and JPY at our branches.
- Deposit Travelers' Checks, Checks or Drafts at our branches or mail us the Checks/Drafts at our mailing address.
- Remit funds via telegraphic transfer or Citibank Global Transfer (CGT).
- 24-Hour Online Banking.
When your deposit matures, your Time Deposit is automatically renewed, at the prevailing interest rate.
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Foreign Currency Time Deposits
Foreign currency investments are subject to rate fluctuations, which may provide both opportunities and risks. You may experience a loss when you convert foreign currency back to your home currency. Exchange controls may be applicable from time to time to certain foreign currencies. You should therefore determine whether any foreign currency investment is suitable for you in the light of your investment objectives, your financial means and your risk profile. Foreign currency investments are not insured by the Federal Deposit Insurance Corporation.
Deposit Insurance Scheme - Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
Citibank full disclaimers, terms and conditions apply to individual products and banking services.