Time Deposit

Citibank Regular Time Deposit

Citibank Regular Time Deposit
PRODUCT DESCRIPTION
  • A time deposit that is not available for termination before maturity.
  • For individual Customers, also available as a joint account.
  • Available in Indonesian Rupiah (IDR) and 9 other foreign currencies: USD, AUD, GBP, NZD, EUR, CAD, JPY, HKD, SGD.
  • Bearing interests in accordance with the prevailing interest rates1.
  • Available in 1, 3, 6, and 12 month tenor.


1 For information on current interest rates, please contact your Relationship Manager or visit the nearest Citibank branch.

BENEFITS
  • Automatic Roll Over (ARO) feature ensuring that the deposit will continue earning interests. The Customer is free to choose ARO for the principal only or for both the principal and interests.
  • The Customer is free to choose whether the interests are payable monthly2 or at maturity.
  • Available through Citibank branch office, 24-hours CitiPhone Banking or Citibank Online.
  • Applicable as collateral for Advances in Current Account facility.


2 Only for Rupiah.

RISK
  • If the interest rate and amount of deposit at Citibank exceed the maximum interest rate and amount covered by the Indonesia Deposit Insurance Corporation (Lembaga Penjamin Simpanan – LPS), the deposit placed will not be included in the deposit insurance program of the LPS.
  • Incurs a penalty 1% of the principal and the interests will not be paid if the deposit is terminated before the maturity date.
SIMULATION

A Customer opens a Citibank Regular Time Deposit on May 1 with a deposit amount of IDR1,000,000,000, 3 (three) months tenor and interest rate of 7.00% per annum.

  • If the Customer terminates the deposit on the maturity date, i.e. August 1, the interest is calculated as follows:
    • If the Customer chooses the interests to be paid monthly.
      Net interest for the 1st month: IDR4,756,164 (7.00% x IDR1,000,000,000 x 31/365 x 0.8).
      Net interest for the 2nd month: IDR4,602,739(7.00% x IDR1,000,000,000 x 30/365 x 0.8).
      Net interest for the 3rd month: IDR4,756,164 (7.00% x IDR1,000,000,000 x 31/365 x 0.8).
      >>Amount credited into savings account in the 1st month: IDR4,756,164 (net interest for the 1st month).
      >>Amount credited into savings account on the 2nd month: IDR4,602,739 (net interest for the 2nd month).
      >>Amount credited into savings account on the 3rd month: IDR1,004,756,164 (principal and net interest for the 3rd month).
    • If the Customer chooses the interests to be paid on maturity.
      Net interest: IDR14,115,068 (7.00% x IDR1,000,000,000 x 92/365 x 0.8).
      >>Amount credited into savings account IDR1,014,115,068 (principal and net interest).

  • If the Customer terminates the deposit before the maturity date, i.e. on June 10, the interest is calculated as follows:
    • If the Customer chooses the interests to be paid monthly.
      Net interest for the 1st month: IDR4,756,164 (7.00% x IDR1,000,000,000 x 31/365 x 0.8).
      Net interest for the 2nd month: There is no interest to be paid.
      Penalty: IDR10,000,000 (1% x IDR1,000,000,000)
      >>Amount credited into savings account in the 1st month: IDR4,756,164 (net interest for the 1st month).
      >>Amount credited into savings account on the 2nd month: IDR990,000,000 (principal minus penalty).
    • If the Customer chooses the interest to be paid on maturity.
    • No interest is to be paid.
      Penalty: IDR10,000,000 (1% x IDR1,000,000,000)
      >>Amount credited into savings account: IDR990,000,000 (principal minus penalty).

FEES
  • Stamp duty fee IDR6,000 upon the opening of Citibank Regular Time Deposit.
  • Interests earned are subjected to taxes in accordance with Government regulations.


Further information on service fees is available at www.citibank.co.id/servicefee

REQUIREMENTS AND PROCEDURES
  • The Customer must have a savings/current account at Citibank.
  • The Customer must be at least 18 years of age.
  • The Customer must read the Product Terms Sheet and agree to the Terms and Conditions of Citibank Regular Time Deposit included in the account opening application, which must be signed by the Customer.
  • The Customer must fill out the Deposit account application form and FATCA (Foreign Account Tax Compliance Act) at the nearest branch.
  • The Customer must provide the documents required by the Bank, i.e. ID Card/Driver’s License/Passport and Tax Identification Number (NPWP).
  • For complaints or further information, please visit the nearest Citibank branch or call 24-hours CitiPhone Banking at (021) 252 9999 or 69999 from mobile phone.
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