Home>Saving>Time Deposits The more money you keep in a time deposit, the more you'll get back! With its better interest rates, a time deposit secures higher returns from your savings. Choose the time deposit that suits you best - select the currency of the deposit and its term, and let your money grow. Guaranteed returns on time deposit Time deposits carry a fixed interest rate for the entire duration of the deposit - meaning a fixed interest rate and secured return on your deposit. More money deposited for a longer time period = higher returns The interest rate is calculated based on the amount deposited, the term of the deposit, and its currency. Interest is credited on the day of maturity. Time deposit in various currencies Time deposits may be opened in CZK, USD, EUR, and GBP. Several time deposit maturity options Choose the maturity that suits you best: 1 week, 2 weeks, 1 month, 2 months, 3 months, 6 months, 1 year, 2 years, 3 years, and 5 years. 2 types of time deposits Fixed and flexible time deposits differ by interest rates as well as terms and conditions for opening and cancelling the deposits. Fixed time deposit A fixed time deposit may be opened at a Citi branch with the help of a banker, or through the CitiPhone customer line. This type of time deposit can only be cancelled in its entirety. The penalties for premature closing are higher than with a flexible time deposit. Flexible time deposit Carries a better interest rate than a fixed deposit and may be cancelled prematurely - either in full or in part. A flexible time deposit can only be opened using Citibank Online banking and Citi Mobile banking. Automatic renewal of time deposit (revolving) All time deposits may be set to renew automatically upon maturity. A time deposit that is renewed automatically will have the same maturity and interest rate in effect for the particular type of deposit on the day it is renewed. If you do not choose this option, your deposit will be transferred, including interest, to the selected current account on the day of maturity. Current interest rates You can check the current interest rates for time deposits on Citibank web in the section Price Lists and Rates or in the Citibank Online banking. You can also call the CitiPhone line at 233 062 222 and ask at Citi branch. If you are not yet a Citibank client, call 884 888 844. Minimum amount for time deposit The minimum amounts for a time deposit with advantageous interest rates are: CZK 50,000, USD 2,500, EUR 3,000, or GBP 1,600. Open a time deposit today: Using Citibank Online banking In Citibank Online banking, you can open a time deposit using the upper menu, under "Time Deposits". Then click on "Open a time deposit" in the menu on the left. Using Citi Mobile banking Using the CitiPhone customer line At one of Citi branches To open a time deposit, you will need A Citibank current account A piece of identification (only if you are opening a time deposit at a branch). Would you like more information about time deposits? Don't hesitate to contact us at a branch or through the CitiPhone customer line at 233 062 222. If you are not yet a Citibank client, call 884 888 844. Click on to expand and on to minimize the details. Where can I see the current interest rates for time deposits? Current interest rates are available e.g. at Citibank branches or through the CitiPhone client line. Can I open a time deposit without a current account? You must have a current account to open a time deposit. The balance in your time deposit is also included in the calculations of the average monthly balance of all accounts in your Citikonto Plus package, which influences the maintenance fee for accounts in the Citikonto Plus package. May I open a time deposit in EUR even if I do not have a current account in EUR? To open a time deposit in a foreign currency, you must have a current account in the same currency, to prevent unfavorable exchange rate conversions between the currency of the time deposit currency and that of the current account. What's better for me - a savings account or a time deposit? Several factors influence this decision, including in particular your financial plans. In general, time deposits are beneficial for money that you won't need to use for some time. If you need to have ready access to your funds, a savings account is better for you. May I withdraw money from a time deposit before the maturity date? What are the conditions for early withdrawal? You may withdraw funds from a time deposit early, but under the conditions stated in the valid price list for the Citikonto Plus or Citi® Premium service package. Is the money kept in a time deposit insured? Time account balances in the Citikonto Plus or Citi® Premium service package are covered by the Irish Deposit Guarantee Scheme. Your money is 100% insured, up to EUR 100,000 as a total for all insured claims towards Citibank. Become a Citigold client