Citi Bank

Citi Bank

Citi Bank is one of the pioneer foreign banks present in India. It is a subsidiary of the Citi Group which has been operating in India since 1902. They have a varied number of branches across locations with exclusive ATMs.


There are quite a few specific departments and sections which Citi Bank follows, which are listed below:

Citigold Private Client

Citigold Private Client is a premium personal banking service offered by Citibank for the high net worth individuals. The services offered under this segment is a cluster of tailor-made retail banking solution, keeping in mind the high-end customer. A range of various products included in this segment are:
 
Citigold Private Wealth Management Services
 
For the Citigold Private Clients, a dedicated team of experts guides the customer on wealth creation. The portfolio covers a wide gamut of various investment options. All the investment assessments are supported by the inclusive research done prior investment. At Citigold Private Banking, all the financial needs of HNI customer is first understood and then handled by the team of Senior Bankers who have expertise in investments, loans, insurance trade and other commercial lending services. The team comprises of well-versed equity specialists and business counselors who take care of the direct equity portfolio and any other Commercial Banking requirement.


Citigold Private Lending Services


Citibank, through its Citigold private service, focuses on the each and every requirement of its client and understands their financial objectives. The thrust remains to offer a seamless experience in its lending solutions.

The key features for the lending solution are:
 
  1. Improvised mortgages scheme with higher limits and pricing advantage
  2. Privileged pricing for financial assets and personal loans

Citigold Private Business Banking Services


The Citigold Private clients are also offered with a gamut of business banking services which are customized to help the customer maximize their business potential. A team of experts in Commercial Banking and Business Lending segments guides the client on foreign exchange, commercial lending and trade related issues.
 
Citigold Private Transaction Banking Services

The Citigold Private client has the luxury to access and transact all over the globe through the correspondent bank tie-ups. This includes trade transactions in more than 100 countries, online tax payment, and electronic receivable option to efficiently manage working capital cycle.

The features of Citigold Private Client services are:
 
  • Overseas Education Program
  • Complimentary World Debit MasterCard
  • Complimentary Premier Miles Card
  • Citigold Business Centres
  • Concierge Services
  • One-Glance-Statement
  • Safe Deposit Lockers
  • Citigold Online
  • Account Representative Service
  • Citi Mobile

Citibank ready Credit Facility
 

Citibank Ready Credit account comes with the feature of instant funds availability of Rs. 5,00,000. The funds can be utilized for various means such as any unplanned medical expense or even the daily cash flow. The interest is charged only on the utilized funds and the tenure for how long the funds are utilized is not fixed like the EMI concepts in personal loans. With each repayment, the available cash line increases proportionately and there is no pre-closure penalty. The interest is calculated on daily reducing balance and the customer can pre-close the account without any penalty. Any salaried individual availing the Suvidha salary account can access funds any time directly through Citi bank ATM, Citi phone service or through Citibank Online.

Citi Priority

Citi Priority is a top-notch priority personal banking segment offered by Citi Bank. The welcome pack consists of Citi Premier Miles card along with 10,000 complimentary bonus miles. The cash withdrawal limit offered on Citi Priority card is Rs. 1.50 Lakhs per day along with a bouquet of reward points and other schemes. The other features included are:
 

  • Dedicated Citi Phone helpline to offer all account related assistance
  • Superlative wealth management services to offers wide assortment of various investment options
  • Priority service channels to offer enhanced account maintenance service requests
  • The customer can access their own model portfolio and digital financial planner
  • Complimentary Citibank Premier Miles Credit Card and 10,000miles as welcome bonus
  • Preferential pricing and zero processing fee on Citibank Personal Loans

Citi Gold

Citi gold personal banking solution is offered to individuals maintaining a net relationship of Rs. 50 Lakhs as Savings Account or Current Account Holders. The balance for net worth is calculated on the aggregate average balances held in Savings Account, Current Account, Fixed Deposits, investment in Mutual Funds, Insurance Premium, Loans against Securities and Outstanding Home Loan.
 
The key features of Citi Gold relation accounts are:
 

  • Overseas Education Program
  • Complimentary World Debit MasterCard
  • Complimentary Premier Miles Card
  • Citigold Business Centres
  • Concierge Services
  • One-Glance-Statement
  • Safe Deposit Lockers
  • Citigold Online
  • Account Representative Service
  • Citi Mobile

Citi Bank Savings Account

A world class savings account for those individuals who are looking for a comprehensive savings account solution with the ease to transact from anywhere in the world. The key features are:
 

  • Citibank Platinum Debit Card offered in this account offers anywhere ATM cash withdrawal with a daily limit of Rs. 1 Lakh.
  • A bouquet of complimentary services.
  • Dedicated helpline to offers all account related assistance with a turnaround time of 20 seconds or less.
  • A limit of US $1000 as Emergency Cash Advance, in case of lost or stolen Debit Card in a foreign country.
  • State of the art online banking access for all types of account transactions on the easy-to-use Citibank platform.
  • Secured Citi Mobile access for those who love banking on the go, with the provision of instant fund transfer through SMS or Mobile Banking.
  • E-Statements or by regular post, as per customer choice.
  • Interest calculated on daily basis @ 4% per annum and paid half yearly.
A host of complimentary services which includes:
 
  • Demand Drafts issuance and cancellation
  • Debit Card payments for fuel purchase
  • Cheque book and duplicate statements
  • NEFT/RTGS Transactions
  • Issuance, cancellation and collections of Foreign Currency Draft
  • Signature verification and stop payment
  • First-time issuance and replacement of Platinum Debit Card

Preferential Banking Account

A customized banking account packed with preferential services for all kind of banking needs.

The key features of this account are:
 

  • 10X Rewards per day on every spend through the card at apparel and various department stores
  • More than 700 redemption choices across shopping, entertainment travel and much more.
  • An instant personal loan of amount up to Rs 15 Lakh, within 48 hours.
  • Pre sanctioned Home Loans of amount Up to 10 Crore with tenor up to 25 years.
  • State of the art online banking platform to identify all financial goals and design own financial plan.
  • A multitude of investment options such as Mutual Funds, Structured Notes, Bonds, Private Equity, Portfolio Management Services and Real Estate Funds.
  • E-Statements or by regular post, as per the customer choice.
  • Interest calculated on daily basis @ 4% per annum and paid half yearly.

Other services which are offered at no extra cost in the account are 
 

  • Demand Drafts Issuance and Cancellation
  • Debit Card payments for Fuel Purchase
  • Cheque book and Duplicate Statements
  • NEFT/RTGS Transactions
  • Issuance, Cancellation and Collections of Foreign Currency Draft
  • Signature Verification and Stop Payment
  • First time issuance and replacement of Platinum Debit Card

Citibank Expatriate Account

Citibank Expatriate Account is a customized banking solution designed for those foreign nationals who are residing in India on a temporary term or are on a short term visit. The expatriate account offered by Citibank not only offers world class banking services but also ensures that all the financial needs for such foreign national is duly met and finally have a pleasant stay in India. The account is basically a zero fee banking services.
 
The Key features of this banking account include:
 

  • Unlimited ATM withdrawals at any ATM counter in India and overseas
  • Easy and hassle free remittance process with one-time documentation
  • Dedicated 24/7 customer helpline to address all account related concerns
  • Emergency Cash Advance up to USD 1000, in case the debit card is lost in any foreign country.
  • Online banking service with over 100 types of banking account transactions
  • In order to be eligible for the account, a foreign national needs to maintain a minimum relationship value of  INR 2,00,000 which includes Citibank investment products such as Home Loan, Insurance and Demat Account.
  • E-Statements or by regular post, as per customer choice.
  • Interest calculated on daily basis @ 4% per annum and paid half yearly.

A host of Complimentary services which include:
 

  • Demand Drafts Issuance and Cancellation
  • Debit Card payments for Fuel Purchase
  • Cheque book and Duplicate Statements
  • NEFT/RTGS Transactions
  • Issuance, Cancellation and Collections of Foreign Currency Draft
  • Signature Verification and Stop Payment
  • First time issuance and replacement of Platinum Debit Card

Citibank Suvidha account

The Citibank Suvidha Salary Account is bespoke banking product which has been designed keeping in mind the day to day banking needs of every modern day professionals. Being a Zero balance salary account, the account has multiple options of debit cards and preferential pricing, making this account more lucrative. Some of the striking features are:
 

  • Instant account opening kit with payable at par cheque book, ATM Card and PIN  
  • Daily withdrawal limit of Rs.50,000 on Debit Card
  • Free Demand Draft delivery at over 1,100 branch locations in India
  • 24x7 online account access with complete transactional privileges on the account from anywhere in the world.
  • Real time SMS alerts on the registered mobile phone to keep a track of all account related transactions.
  • Inbuilt overdraft facility with limit up to 5 times the net monthly salary 
  • Preferential pricing offered on the Citi Bank Personal Loan and Citi Home Loan
  • A gamut of investment and insurance products designed for the working professional. Earn Reward points on your debit card transactions as well as for selected banking transactions.
  • Reward points redemption against cash credit to the account through SMS or calling the Citi phone helpline.
  • Nil fuel surcharges at Indian Oil Outlets in India.
  • The expiry for reward point is infinite which means the Citibank Platinum Debit Card reward points do not lapse.  
  • Rs.50,000 as daily purchase and withdrawal limit on any ATM.
  • Global security standards on debit card with chip and PIN based technology.

Citibank Senior Citizen Account

The Citibank Senior Citizen Banking Account is a special account filled with unique services to help the senior citizens achieve their daily banking needs and financial goals. Some of the key features are:
 

  • Higher interest rates on savings accounts and fixed deposits
  • Free and unlimited transactions at all ATMs anywhere in India
  • Multiple options to access the account such as online banking, mobile banking and phone banking platforms

CITIBANK Junior Account

Citi bank offers junior account products for children aged below 18 years as an under guardian account wherein the guardian should be an existing account holder with Citibank. In the account, a personalized Citibank Junior ATM cum Debit Card is offered for children beyond 15 years of age. Some other keys features of this account are:
 

  • Free ATM cash withdrawal permitted at all Citibank ATMs
  • Flexi Limit options for the guardian to fix the withdrawal limits to control expenses.
  • Option of standing instructions from the guardian existing account to the child's account.
  • 24x7 dedicated customer service at Citi Phone Banking service.
  • Free online banking access and fund transfer option.
  • Option to set the long-term investment goals for a better and secure future of the child. The guardian can opt for an ideal mix of various investment products in discussion with Citibank's expertise in investment.
  • Double insurance benefit of life cover available for guardian and the child.
  • 10 different Investment options in the Citi Classic Child Plan.
  • Round the clock assistance from the certified Citi Investment Counselors and free access to complete Financial Market Reports.

CITIBANK Basic Savings Bank Deposit Account and Small Accounts

As per the guidelines of the Government of India and Reserve Bank of India, Citi Bank offers 'Basic Savings Bank Account' and 'Small Savings Account’. ATM cum Debit Card and a payable at par chequebook is offered along with both the accounts. The account holders don’t need to maintain any minimum average balance in either account.
 
Some of the key features of these accounts are:
 

  • Minimum documentation and hassle free process for a layman customer
  • Daily withdrawal limit of INR 10,000 including online payments over various payment gateways.
  • Free payable at par cheque book
  • Online access and SMS banking facility to keep a tab on the transactions in the account
  • No maximum cap on the credits in account through any channels
  • Nil charges for 4 customer induced debits per month including withdrawals at ATM and Branch or Electronic Fund Transfer
  • The cumulative credits cannot exceed INR 1 Lakh in a financial year
  • The cumulative withdrawals and transfers cannot exceed INR 10,000 in a month
  • At any point, the balance in account should not exceed  INR 50,000
  • Without identifying the credentials and KYC norms of the client, no foreign remittances will be permitted in the account
  • The accounts can be opened under 'Pradhan Mantri Jan Dhan Yojana’ along with the Personal Accident cover of Rs. 1 Lac.
  • The account is only offered to resident individuals aged between 18 years to 70 years.

Citibank Fixed Deposits

Citibank offers a wide range of fixed deposit plans which are both secured and flexible. The fixed deposits can be booked through various modes such as Branch Banking, Citibank Online or even the Citi Mobile smart App.
 
Some of the variants of Fixed Deposit offered by Citi Bank are:

Citi Regular Fixed Deposit
 

  • Minimum deposit amount is Rs. 1,000 and the minimum tenure is 7 days
  • The customer is offered with inbuilt overdraft limit of up to 90% of the deposit amount  for the Current Account holders
  • The interest options offered are on quarterly basis as Compounded Interest or  Simple Interest Payout

Citi Flexible Fixed Deposit
 

  • Minimum deposit amount is Rs. 1,000 and the minimum tenure is 7 days
  • The key features are enhanced interest rates with easy liquidity option to access to deposit funds when customers need it
  • The interest options offered are on quarterly basis as Compounded Interest or  Simple Interest Payout

Citi Recurring Deposit
 

  • Minimum Deposit amount is Rs. 1,000 and the minimum tenure is 12 months.
  • Customer can lodge a monthly standing instruction from their account and the monthly installments shall be automatically debited from their account

Citi Senior Citizens Deposits
 

  • Any resident senior citizen can book Fixed Deposits under this scheme to earn enhanced interest of 0.50 % per annum on the deposits below Rs1 Crore.

  • The senior citizen deposits are linked to the Savings Account which in turn yields the benefit of a Higher Net Relationship Value (NAV).

Citi Tax Saver Deposits
 

Citi bank offers tax saving options under the under the Section 80C of Income Tax Act, 1961 under which any resident individual can earn tax rebate.
 

  • The maximum booking amount can be up to Rs 1,50,000 for a fixed tenure of 5 years

  • The Interest is computed on a quarterly basis as either Compounded Interest or on Simple Interest as per the choice of customer and paid out Quarterly.

CITIBANK Ready Credit Facility
 

Citibank Ready Credit accounts come with the feature of instant funds availability of Rs. 5,00,000 in the ‘Suvidha Salary Accounts’. The funds can be utilized for various means such as any unplanned medical expense or even the daily cash flow. The Interest is charged only on the utilized funds and the tenure is not fixed similar to EMI concept in personal loans. With each repayment, the available cash line increases proportionately and there is no pre-closure penalty. The Interest is calculated on daily reducing balance. Any salaried individual availing the Suvidha salary account can access funds any time directly through Citi bank ATM, Citi Phone service or through Citibank Online.
 

Citibank Non- Resident Services


Citi Bank offers its NRI services under three packages which are Regular NRI services, Preferred NRI services and the Citigold NRI service. The categorization is done based on the relationship value which the NRI customer maintains across all the products held with Citi Bank.

The keys features are:
 

  • Citi Bank Regular NRI Accounts

  • Average monthly relationship balance should be Rs. 40,000.

  • In case of non-maintenance of minimum balance amount, 1% of the shortfall or Rs. 400, whichever is lower will be charged.

  • Free Debit Card is issued with zero annual fees.

  • Free online banking access, Demand Drafts and online transfers are offered under the segment. Draft cancellation and cheque book re-order is chargeable @ Rs. 100.

  • Citi Bank Preferred NRI accounts

  • Average monthly relationship balance should be Rs. 40,000.

  • In case the minimum balance is not maintained, 1% of the shortfall amount or Rs. 400 whichever is lower is charged.

  • Free Debit Card is issued with zero annual fees.

  • Free Online Banking access, demand drafts and online transfers are offered under the segment. Draft cancellation and Cheque book Re-order is chargeable @ Rs. 100

  • Preferential Forex rates and various other discounts and privileges are offered at partner restaurants and merchants in India.

  • Free access to domestic and selected international airport lounges.

  • Citigold NRI accounts

  • Average monthly relationship balance should be Rs. 40,000.

  • In case the minimum balance is not maintained, 1% of the shortfall amount or Rs. 400 whichever is lower is charged.

  • Free Debit Card is issued with zero annual fees.

  • Free Online Banking access, Demand Drafts and online transfers are offered under the segment. Draft cancellation and cheque book re-order is chargeable @ Rs. 100

  • Preferential Forex rates and various other discounts and Privileges are offered at partner restaurants and merchants in India.

  • Free access to domestic and selected international airport lounges.

  • Apart from the other regular benefits, the Citigold NR account holder has the access to Citigold Business Centers located domestically and overseas.

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