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A fixed deposit (FD) account is considered a safe investment step by many people because of its high security and returns. In a fixed deposit scheme, you can invest money for a specified period, after which a fixed rate will be paid for the deposit term. Citibank provides FD interest rates ranging from 3.00% to 7.20% per annum for the general public and from 3.50% to 7.75% per annum for senior citizens. Read through to know Citibank’s fixed deposit options and other relevant details in terms of interest rates and deposit periods.
RBI has announced a new rule applicable to unclaimed, matured FD accounts. That is the funds in an unclaimed, matured FD account will attract an interest rate as applicable to the savings account or the contracted rate of the matured FD, whichever is lower.
Highlights for 2025 Fixed Deposit Scheme of Citibank Bank
Tenure | 7 days to 5 years |
Senior Citizen Interest Rates | 3.50 - 7.85% p.a. |
Public Interest Rates | 3.00 - 7.20% |
Highest Interest Rates for Public | 7.20% p.a. |
Highest Interest Rates for Senior Citizens | 7.85% p.a. |
Premature Withdrawal | 0.75% penalty |
Minimum Deposit Amount | Rs 1,000 |
The interest rates provided in the table are applicable for deposits up to Rs. 3 crore and are effective from 1 July 2024.
Tenure | FD Rates for Regular Customer (%p.a.) | FD Rates for Senior Citizen (% p.a.) |
7 days to 14 days | 3.00% | 3.50% |
15 days to 29 days | 3.00% | 3.50% |
30 days to 45 days | 3.50% | 4.00% |
46 days to 60 days | 4.25% | 4.75% |
61 days to less than 3 months | 4.50% | 5.00% |
3 months – 3 months 24 days | 4.75% | 5.25% |
3 months 25 days to less than 4 months | 4.75% | 5.25% |
4 months to less than 5 months | 4.75% | 5.25% |
5 months to less than 6 months | 4.75% | 5.25% |
6 months to less than 7 months | 5.75% | 6.25% |
7 months to less than 8 months | 5.75% | 6.25% |
8 months to less than 9 months | 5.75% | 6.25% |
9 months to less than 10 months | 6.00% | 6.50% |
10 months to less than 11 months | 6.00% | 6.50% |
11 months to 11 months 24 days | 6.00% | 6.50% |
11 months 25 days to less than 1 year | 6.00% | 6.50% |
1 year to 1 year 4 days | 6.70% | 7.20% |
1 year 5 days to 1 year 10 days | 6.70% | 7.20% |
1 year 11 days to 1 year 24 days | 6.70% | 7.20% |
1 year 25 days to less than 13 months | 6.70% | 7.20% |
13 months to less than 14 months | 6.70% | 7.20% |
14 months to less than 15 months | 6.70% | 7.20% |
15 months to less than 16 months | 7.10% | 7.60% |
16 months to less than 17 months | 7.10% | 7.60% |
17 months to less than 18 months | 7.20% | 7.70% |
18 months to less than 2 years | 7.10% | 7.60% |
2 years to less than 30 months | 7.10% | 7.60% |
30 months to less than 3 years | 7.10% | 7.60% |
3 years to less than 5 years | 7.10% | 7.60% |
5 years to 10 years | 7.00% | 7.75% |
*Interest rates are subject to change with time.
The following eligibility criteria are applicable to open an FD account in India:
Citibank offers Tax Saver Deposits scheme where you can deposit up to Rs.1.5 lakh per financial year in the account for a tenure of five years and get income tax benefit under Section 80C of the Income Tax Act, 1961. The interest is calculated every quarter, either as compound interest or simple interest, and is paid out quarterly.
Other than this scheme, the tax liability is dependent on your total income for the financial year and the tax slab you fall into. The interest income from FDs falls under the head ‘Income from Other Sources’ while filing income tax returns.
Also, banks deduct tax at source (TDS) if the interest earned exceeds Rs.40,000 in a financial year across all the accounts held with the bank. A TDS certificate will be issued to confirm the details of the deduction. Read here to know more about the taxation on FDs.
Visit our easy-to-use FD calculator tool to predict the returns you may receive upon putting your money in a fixed deposit account.
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