• Citibank Savings Account

    Savings Account are interest bearing account which can be held with a bank. You earn interest on the amount deposited. The number of withdrawals will be limited. It is financially advantageous to hold a savings account as it is the most liquid form of investment. You can access the account at anytime from anywhere. Citibank offers various types of savings account that are designed to meet various needs and requirements.

    Features and Benefits

    Following are the various features and benefits of Citibank Savings Account:

    • Competitive interest rates.
    • The savings account allows for USD and EUR transfers.
    • Low minimum balance requirements.
    • Massive ATM network with over 900,000 facilities.
    • Online banking facilities available through the dedicated Citibank Online facility.
    • Multiple account types to suit individual needs.

    Types of Citibank Savings Account

    Following are the various types of savings account offered by Citibank:

    1. Citibank Peso Bonus Saver

      This account increases the amount of interest on your savings by 0.10% every month, capped at 1.90% p.a. if you make regular deposits of P5,000 or more to increase your average balance and maintain the same. The account also has free unlimited account withdrawals.

      Opening balance

      P50,000

      Maintaining balance

      P50,000

      Balance required to earn interest

      P50,000 to earn interest at 0.70%

      P55,000 by month 1 to earn interest at 0.80% p.a. (i.e. 0.70% + 0.10%)

      P60,000 by month 2 to earn interest at 0.90% p.a. (i.e. 0.70% + [0.10% x2]) from month 2 onwards

      P65,000 by month 3 to earn interest at 1.00% p.a. (i.e. 0.70% + [0.10% x3]) from month 3 onwards

      P70,000 by month 4 to earn interest at 1.10% p.a. (i.e. 0.70% + [0.10% x4]) from month 4 onwards

      P75,000 by month 5 to earn interest at 1.20% p.a. (i.e. 0.70% + [0.10% x5]) from month 5 onwards

      P80,000 by month 6 to earn interest at 1.30% p.a. (i.e. 0.70% + [0.10% x6]) from month 6 onwards

      P85,000 by month 7 to earn interest at 1.40% p.a. (i.e. 0.70% + [0.10% x7]) from month 7 onwards.

      P90.000 by month 8 to earn interest at 1.50% p.a. (i.e. 0.70% + [0.10% x8]) from month 8 onwards.

      P95,000 by month 9 to earn interest at 1.60% p.a. (i.e. 0.70% + [0.10% x9]) from month 9 onwards.

      P100,000 by month 10 to earn interest at 1.70% p.a. (i.e. 0.70% + [0.10% x10]) from month 10 onwards.

      P105,000 by month 11 to earn interest at 1.80% p.a. (i.e. 0.70% + [0.10% x11]) from month 11 onwards.

      P110,000 by month 12 to earn interest at 1.90% p.a. from month 12 onwards, unless a deposit of at least P5,000 is missed, in which case the interest will revert to 0.70%.

      P4,000,000 balance to earn interest at 1.90% p.a. without having to maintain regular deposits of P5,000.

      If the balance in the account does not increase by at least P5,000 every month, the interest rate reverts to the base rate of 0.70%.

      If the account balance has increased by P5,000 every month for the first 6 months, the new base rate becomes 1.30%. However, this base rate too will revert to the original base rate of 0.70% if more than 2 successive months pass without a minimum deposit of P5,000.

    2. Citibank Peso High Rate Saver

      This account doesn't have a fixed term for interest rates. You get 2 free account withdrawals in a month following which you will be charged P20 for withdrawals that are not over-the-counter. You will be charged P50 for withdrawals over-the-counter.

      Opening balance

      P100,000

      Maintaining balance

      P100,000

      Balance required to earn interest

      P100,000 to P2,000,000 to earn interest at the rate of 0.70% p.a.

      P2,000,000 to P5,000,000 to earn interest at the rate of 0.75% p.a.

      P5,000,000 and above to earn interest at the rate of 1.00% p.a.

    3. Citibank e-Savings

      Higher interest rates are offered. You get 2 free account withdrawals in a month. The over-the counter withdrawals after the free withdrawals will be charged P50 and the other withdrawals will be charged P20. There is no limit on the online funds transfer and they are free.

      Opening balance

      -

      Maintaining balance

      P100,000

      Balance required to earn interest

      P100,000 to earn interest at the rate of 0.75% p.a.

    4. Citibank Dollar Saver

      Citibank lets you open a Dollar savings account. Your money in this account will be safe while you earn interest on it. You can check the balance and initiate fund transfers through Citibank Online. You get 2 free account withdrawals in a month following which you will be charged $1 for over-the-counter withdrawals and $0.50 for other types of withdrawals.

      Opening balance

      -

      Maintaining balance

      $1,000

      Balance required to earn interest

      $1,000 to earn interest at 0.10% p.a.

    5. Citibank Euro Saver

      Citibank allows you to open a Euro savings account. Your amount you deposit will be safe while you earn interest on it. You can initiate fund transfers and check the balance through Citibank Online. You get 2 free account withdrawals in a month following which you will be charged Eur1 for over-the-counter withdrawals and Eur0.50 for other types of withdrawals.

      Opening balance

      -

      Maintaining balance

      EUR1,000

      Balance required to earn interest

      EUR1,000 to earn interest at the rate of 0.10% p.a.

    Citibank Savings Account Eligibility Requirements

    You will have to meet the following requirements to be eligible to open a Citibank Savings Account:

    • Resident citizen
    • Non-resident citizen
    • Resident alien
    • Non-resident alien

    Documents Required for Citibank Savings Account

    You will have to submit the following documents along with the duly filled application form:

    • Non-resident aliens will have to submit passport and Alien Certification of Registration or Alien Employment Permit.
    • Passport.
    • Driver’s license.
    • Company ID.
    • Police clearance.
    • NBI clearance.
    • PRC ID.
    • GSIS e-card.
    • Digitised Voter’s ID.
    • Postal ID.
    • OWWA ID.
    • Senior Citizen Card.
    • Seaman’s Book.
    • Health Certificate Card. 

    Citibank Savings Account Interest Rates

    Following are the interest rates offered for Citibank Savings Account:

    Citibank Peso Bonus Saver Account

    0.70% p.a. to 1.90% p.a. depending on the account balance and deposit frequency.

    Citibank Peso High Rate Saver Account

    0.70% p.a. to 1.00% p.a. depending on account balance.

    Citibank e-Savings Account

    0.75% gross p.a.

    Citi Dollar Saver Account

    0.10% p.a.

    Citi Euro Saver Account

    0.10% p.a.

    Fees and Charges

    Following are the applicable fees and charges:

    Citibank High Rate Saver Account

    P20 charged for Non-Over The Counter withdrawals after 2 initial free withdrawals.

    P50 charged for Over The Counter withdrawals after 2 initial free withdrawals

    Citibank e-Savings Account

    P20 charged for Non-Over The Counter withdrawals after 2 initial free withdrawals.

    P50 charged for Over The Counter withdrawals after 2 initial free withdrawals

    Citi Dollar Saver Account

    $0.50 charged for Non-Over The Counter withdrawals after 2 initial free withdrawals.

    $1 charged for Over The Counter withdrawals after 2 initial free withdrawals

    Citi Euro Saver Account

    EUR0.50 charged for Non-Over The Counter withdrawals after 2 initial free withdrawals.

    EUR1 charged for Over The Counter withdrawals after 2 initial free withdrawals

    How to apply for Citibank Savings Account

    You can apply for a Citibank Savings Account through the following ways:

    • Online: You can apply for the account online by entering the basic information.
    • Phone: You can call 632-88-791-88 to know more about the account and find out the process to apply and initiate it.
    • Face-to-face: You can find the closest Citibank branch online. You can visit the branch and meet with the bank representative and learn more about the account before applying for it.

    Citibank Savings Account Hotline Number

    You can call the bank at 632-88-791-88 if you have any queries. You can send an email to customercare@securitybank.com.ph.

    Citibank Savings Account FAQs

    1. How does Citi Bonus Saver Account increase interest rate?
      • The Citi Bonus Saver Account earns interest at a base rate of 0.70% p.a. if a minimum account balance of P50,000 is maintained.
      • If the account balance increases by at least P5,000 in the next month, the interest rate also increases by 0.10% p.a.
      • If the account balance increases by at least P5,000 in the next consecutive month, the interest rate increases by 0.20% p.a. in relation to the base rate.
      • In this way, the interest ‘stacks’ and can build itself up to 1.90% p.a. in 12 months.
      • If any monthly deposit is under P5,000, the interest rates accumulated thus far will be forfeited and the interest rate will drop to 0.70% p.a..
      • After 6 months of regular deposits of P5,000 or above, and if the account balance sufficiently maintained, the base rate will become 1.30% p.a., which means that if less than P5,000 is deposited, the interest rate will drop to 1.30%. p.a. However, if deposits of less than P5,000 are made for more than 2 months, the interest rate will drop to 0.70% p.a.
      • The interest rate continues at 1.90% p.a. from the 12th month onwards unless deposits of less than P5,000 are made, in which case the interest will drop to 0.70% p.a.
    2. How many free withdrawals are possible with Citibank Savings Account?

      All Citibank Savings Account except the Bonus Saver Account have 2 free withdrawals. The Citibank Bonus Saver Account allows for unlimited free withdrawals.

    3. What is the interest rate offered for non-Peso Savings Account at Citibank?

      Citibank offers two non-Peso savings bank accounts – the Citi Dollar Saver Account and the Citi Euro Saver Account. Both these accounts offer interest rates of 0.10% p.a. and must have a minimum balance $1,000 and EUR1,000 respectively.

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