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Banking product interest rates and negative interest costs

Effective 1 July 2021

Information on this page is to be read in conjunction with the Fees and Charges for the Services of Citi Private Bank or Abridged Price List to your accounts with the following Citi Private Bank entities.

  • Citibank N.A., London Branch
  • Citibank N.A., Jersey Branch
  • Citibank N.A., Swiss Branches
  • Citibank Europe PLC, UK Branch
  • Citibank Europe PLC, Luxembourg Branch
  • Citibank (Switzerland) AG

Rates listed are subject to change. Changes in interest rates that are favourable to you, or that are based on reference interest or exchange rate information already provided to you, may be applied without prior notice. We reserve the right to change interest rates at any time at our sole discretion.

Interest Rates

Cash Accounts

We will pay interest to clients on deposits in the below currencies. Interest will be calculated on a daily basis in relation to your account balance at the end of that day. 

Australian Dollar (AUD) 0.00% pa 
New Zealand Dollar (NZD) 0.00% pa 
Norwegian Krone (NOK) 0.00% pa 
Pound Sterling (GBP) 0.00% pa 
US Dollar (USD) 0.05% pa 


Clients booked in Citibank (Switzerland) AG and Citibank N.A., Swiss Branches are not paid interest on any deposits in a Cash Account. 

Flexible Deposits

We will pay interest to clients on Flexible Deposits in the below currencies. Interest will be calculated on a daily basis in relation to your account balance at the end of that day.

Pound Sterling (GBP) 0.05% pa
US Dollar (USD) 0.15% pa

2 Days' Notice Fiduciary Placement

We will pay interest to clients on 2 Days’ Notice Fiduciary Placements in the below currencies. Interest will be calculated on a daily basis in relation to your account balance at the end of that day. 

Pound Sterling (GBP)  0.05% pa
US Dollar (USD) 0.15% pa

 

Time Deposits

We currently reference your deposit against the following cost of funds benchmarks but note that the method of calculating the rate may change over time:

Pound Sterling (GBP) SONIA for tenors 3 months and below
US Dollar (USD) LIBOR for tenors 3 months and below
Euro (EUR) ESTR for tenors 3 months and below

For information on these and other currencies or tenors or to discuss a rate please contact your Private Banker.

Fiduciary Placements

We currently reference your deposit against the following cost of funds benchmarks but note that the method of calculating the rate may change over time:

 

Pound Sterling (GBP) SONIA for tenors 3 months and below
US Dollar (USD) LIBOR for tenors 3 months and below
Euro (EUR) ESTR for tenors 3 months and below

For information on these and other currencies or tenors or to discuss a rate please contact your Private Banker.

Murabaha

Please contact your Private Banker for yield rates.

Guaranteed Money Market Notes

Please contact your Private Banker for interest rates.
 

Negative Interest Costs

Cash Accounts

We will pass on the negative interest rate costs to clients on deposits in the below currencies. This cost will be calculated on a daily basis in relation to your account balance at the end of that day. 

Czech Koruna (CZK) Deposits Negative rate calculated from the one month USD/CZK funding swap using the average of the last two business days of the previous month.
Danish Krone (DKK) Deposits Fixed negative rate of 0.60% pa. The first 100,000 DKK will not incur negative interest costs.
Euro (EUR) Deposits Negative rate calculated from the average overnight ESTR rate during the previous month. (effective 1 September 2021)
Israeli New Shekel (ILS) Deposits Fixed negative rate of 0.27% pa. The first 100,000 ILS will not incur negative interest costs.
Swedish Krona (SEK) Deposits Fixed negative rate of 0.50% pa. The first 100,000 SEK will not incur negative interest costs.
Swiss Franc (CHF) Deposits Negative rate issued by the Swiss National Bank as of the previous month.


Time Deposits

Please contact your Private Banker for details of any negative interest rate costs.

Fiduciary Placements

Please contact your Private Banker for details of any negative interest rate costs.

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