Citibank Recurring Deposit (RD)

Interest Rates offered by Citibank on RDs

In the table listed below, you can find the interest rates offered by Citibank on recurring deposits of up to Rs.2 crore, depending on the tenure chosen:

Tenure	Interest rate of general public (p.a.)	Interest rate of senior citizens (p.a.)
365 to 400 days	3.50%	4.00%
401 to 540 days	3.50%	4.00%
541 to 731 days	3.75%	4.25%

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Features of Citibank Recurring Deposit (RD)

The features of the Citibank Recurring Deposits are as given below:

1. The RD account can be opened with a monthly minimum amount of Rs.1000
2. The maximum amount that can be deposited monthly is Rs.20,000
3. A monthly standing instruction can be placed to debit the funds directly from your account

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How to open a Citibank Recurring Deposit account?

You can open an RD account with Citibank through the following ways:

1. Visit the nearest bank branch along with the necessary documents
2. Book the RD through the Citi Mobile App
3. Log into net banking of Citibank and book the deposit of your choice

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Medium Recurring Deposit Interest Rates

Medium-term recurring deposits are those which have an investment period between 1 year and 3 years. Citibank offers a rate of return starting from 3.50% p.a. to general citizens while senior citizens are offered an interest rate that starts from 4.00% p.a. for such deposits.

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FAQs on Citibank Recurring Deposit

• How is the interest rate fixed?

  The interest rate that is applicable throughout the tenure of your recurring deposit will be the one that is contracted at the time that the first instalment is booked.

• Is premature closure of the RD account allowed?

  Yes, you can prematurely close the account with payment of a minimal penalty. However, there is no penalty for premature withdrawal in the event of death of the depositor.

• During auto-renewal of the deposit, can I change my tenure?

  If you are choosing auto-renewal, it can only be for the same duration as the original deposit.

• What is the minimum deposit amount for the Citibank recurring deposit?

    The minimum deposit amount for the Citibank recurring deposit is Rs.1,000.  

• What are the tenures available on the Citibank recurring deposit?

    Citibank offers tenures ranging from 6 months to 120 months on its recurring deposits.  

• Can I open a Citibank recurring deposit online?

    Yes, you open a Citibank recurring deposit through internet banking or the Citi Mobile App.  

• Will senior citizens get an additional interest rate?

  Yes, Citibank offers additional interest rate benefits to senior citizens.

• Who can open a recurring deposit account with Citibank?

    All Indian residents, HUFs, trusts, public and private institutions, clubs, etc., can open a recurring deposit account with Citibank.  

• Can I open a recurring deposit account without holding a Citibank savings account?

    No, you must have a savings account with the bank to open a recurring deposit account.  

• Is it possible to withdraw my Citibank recurring deposit prematurely?

    Yes, you can withdraw your Citibank recurring deposit before maturity. However, the interest will be computed following the deduction of applicable penalty charges.  

• Does Citibank recurring deposit provide an overdraft facility?

    No, currently, there is no overdraft option available for recurring deposits. 

• Can I withdraw my Citibank recurring deposit partially?

    No, partial withdrawal of a recurring deposit is not allowed.  

• Can I convert my recurring deposit to a fixed deposit when it matures?

  After the term is over, the maturity benefits will be credited to the savings account. You can fill out the relevant forms to convert your recurring deposit to a fixed deposit.