What is multi deposit account in Citibank?

Multi Deposit A multi-deposit is a term deposit which is linked to a Resident Savings / Current account. The Bank offers multi-deposits for a minimum amount of INR 1,000. The deposit is automatically broken in units of INR 1,000 if the linked Savings/Current account goes into a debit balance.

What is the interest rate for fixed deposit in Citibank?

The interest rates for Citibank Fixed Deposits (FDs) are from 1.85\% p.a. to 3.50\% p.a. One can pick an FD scheme with tenures between 7 days and more than 1096 days. The highest Citibank FD rate is 3.50\% p.a. for a maturity period of more than 732 days.

Can I fixed deposit every month?

A recurring deposit is a kind of term deposit offered by banks to their customers. It allows customers with a fixed source of income to deposit a fixed amount of money every month to the recurring deposit account. The customer, upon depositing the amount, becomes eligible to earn interest on it.

How can I break my Citibank FD?

How to close Citi Bank Fixed Deposit Account?

1. (1) Fill up the FD Account Closure Form or Fixed Deposit Liquidation form of Citi Bank. In order to close Citi Bank FD account, the first step is to fill up an FD Account Closure Form.
2. (2) Attach your KYC (Know Your Customer) Documents.
3. (3) Submit FD Certificate or FD Receipt.

What type of fixed deposit is best?

The tax-saving fixed deposit is the best-secured FD schemefor claiming tax-exemptions under Section 80C of the Income Tax Act. The tax-saving fixed deposit comes with a fixed lock-in period of 5 years. By investing in this fixed deposit scheme, one can get an annual tax exemption of Rs 1.5 Lakh.

How does multi option deposit work?

SBI Multi Option Deposit Scheme (MODS) are Term Deposits linked to the Savings or Current Account (individual). Unlike normal Term Deposits which are fully liquidated anytime you need funds; you can withdraw from a MODS account in multiples of 1000 as per your fund need.

Which bank is best for FD for 10 years?

The highest FD rate among the popular banks in India is 6.50\% p.a. which is given by YES Bank for tenures ranging from 5 years to 10 years for the general public. For senior citizens, the highest FD rate among popular banks in India is 7.25\% given by Yes Bank for tenure ranging from 5 years and 10 years.

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