New account opening for Flexible Deposit is no longer available since 27th November 2018.
1 Interest rate for full termination is 3% for IDR, 0.05% for USD and 0.5% for AUD.
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.
A Customer opens a Citibank Flexible Deposit account on March 1, 2019 with a deposit of IDR1,000,000,000, with 6 (six) months tenor and an interest rate of 6%2(assumption).
--> If on March 20, 2019, the Customer does Flexible Deposit pre-termination, the interest rate for termination before maturity is 3% per annum.
Interest earned = Rp1.000.000.000,- x 3% x 19/365 = Rp1.561.644,-2
The Customer will receive Rp1.001.561.644,-2
--> If the Customer does not do pre-termination, at maturity the interest will be 6% per annum.
Interest earned = Rp1.000.000.000,- x 6% x 184/365 = Rp30.246.575,342
The total funds to be received from Citibank Flexible Deposit is
Rp1.000.000.000,- + Rp30.246.575,34 = Rp1.030.246.575,342
2 Interest is before tax and will be subjected to taxes in accordance with the applicable income tax regulations. Tenor is in line with offering. Interest rate may change at any time depending on market situation, with prior notice in accordance with applicable regulations.
Further information on service fees is available at www.citibank.co.id/servicefee