Citi launches new Flexible Saver Account

Citi has just announced the launch of its new Citibank Flexible Saver Account (Issue 5), which is said to allow customers to achieve real growth in their savings, thanks to the account which pays 3.10% AER / 3.06% gross p.a. variable, including a fixed bonus rate of 2.06% gross p.a. for the first 12 months.

LONDON, United Kingdom--(EON: Enhanced Online News)--From 16th July 2009, the Citibank Flexible Saver Account (Issue 5) is available to new customers with deposits from as little as £1 and up to as much as £1,000,000.

“The new Citibank Flexible Saver Account will certainly provide a competitive rate for new customers, giving them the potential for real growth in their savings. Customers also have the flexibility to withdraw however much they like, whenever they like, without penalty.”

Sharon Maguire, Head of Savings at Citi, says: “The new Citibank Flexible Saver Account will certainly provide a competitive rate for new customers, giving them the potential for real growth in their savings. Customers also have the flexibility to withdraw however much they like, whenever they like, without penalty.”

The Flexible Saver Account is available from Citi to all UK residents. Citi offers a wide range of financial solutions, from high interest savings accounts and investments to current and savings accounts. Customers can find out more information and apply for a Citibank Flexible Saver Account (Issue 5) by visiting http://www.citibank.co.uk.

The AER stands for Annual Equivalent Rate and is a notional rate, which illustrates the contractual interest rate as if paid and compounded on an annual basis. The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. Interest will be paid monthly. Existing customers who open a new account will receive the underlying variable rate of 1.00%gross pa/AER.

Notes to editors:

About Citibank Flexible Saver Account (Issue 5)

• The account is available from 16th July 2009.
• The account offers new customers to Citibank a rate of 3.10% AER including a 12 month fixed rate bonus of 2.06% gross p.a. This is a promotional introductory rate for the first 12 months, after which our variable underlying rate applies, which is currently 1.00% gross p.a./ AER.
• Existing customers who open a new account will be paid the underlying rate.
• There is no notice period or penalties for withdrawal.
• Rates are correct as of 16th July 2009

About Citibank

Find out more about Citi’s wide range of cheque, savings, foreign currency accounts, personal loans, insurance, investment services; credit and charge card services at http://www.citibank.co.uk.

Citi

Citi, the global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica and Banamex. Additional information may be found at http://www.citigroup.com or http://www.citi.com.