Easy Pay & Growth: Two new products by Citibank.
Athens, May 26, 2009.
For those who seek convenience in transactions and investment solutions, Citibank has designed two new products. “Easy Pay” is a savings account with the highest interest rate in the market, 3%, combined with a standing order for payment of two utility bills through the account (e.g. electricity etc.). “Growth” program refers to an integrated investment portfolio through regular installments to a variety of Mutual Funds.
The savings account “Easy Pay” combines an advantageous gross annual rate of 3% for up to 10.000Euros with monthly interest rate payment, no minimum initial deposit amount or limitations in times of withdrawal, plus the convenience of the automated payment of 2 bills of either power, or telephone or water services.
The Investment Program “Growth” aims at creating an integrated investment portfolio on a Mutual Fund of the customer’s choice, with a minimum amount of 50Euros deposited regularly either on a monthly, on a quarterly or on a six-month basis. The specific strategy of “Average Dollar Cost” that the program follows, consists of one of the best techniques towards market fluctuation. By buying mutual fund units regularly while paying a specific standard amount, you obtain in the end a lower average price per unit, since when prices are high you buy less units with the same amount than when prices are lower.
Moreover, one can choose from a variety of 350 Greek and Foreign Mutual Funds without having to forecast the best investment timing. Finally, at any point of time, the customer can end the standing order of Mutual Funds purchase and either maintain the investment or liquidate it.