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 StepUp Interest Account
What is StepUp Interest Account?
The StepUp Interest Account is a current account that lets you earn more interest as you save more each month. Start saving with a base rate of 0.01% p.a.* This steps up to 0.13% p.a.* over a 12month period as your balance increases in consecutive months.
Benefits of StepUp Interest Account
 Enjoy more interest — start saving your salary from a base rate of 0.01% p.a. and step up to 0.13% p.a.* when you save more each month.
 Easy access to ATMs at SMRT stations islandwide, and Citibank ATMs overseas.
 Free Debit card with pointofsale debit payment.
Eligibility Criteria to apply for a StepUp Interest Account:
Eligibility Criteria  Yes  Individuals aged 18 years old and above Individuals between 16 and 18 years old as secondary account holder 
Features of a StepUp Interest Account:
Checking facilities  Yes 
First checkbook upon account opening will be issued upon request, at no charge. Subsequent checkbooks are issued upon request via Citibank Online. Free check imaging printed on monthly statements for easy monitoring and tracking 
Interest Earning  Yes  SAVE: Higher interest on your savings of up to 0.13% p.a.* 
Online Banking  Yes  Pay Anyone online cheque payment service, direct transfer of funds between accounts 
Phone Banking  Yes  CitiPhone Banking and Automated Voice Response 
Citibank Debit Card  Yes  Free Citibank Debit Card with access to Citibank ATMs as well as merchants worldwide 
1. How StepUp Interest works

You start with a base rate of 0.01% p.a.* This steps up to 0.13% p.a.* over a 12month period as your balance increases in consecutive months. Simply bank your monthly salary into your StepUp Interest Account for it to happen.
StepUp Interest is earned on 2 components:
Increase your minimum balance each month and you'll earn StepUp Interest.

2. Key features of StepUp Interest Account:
In the event that your current month's minimum balance falls below the previous month, your step up counter will be reset to 9, 6, 0 depending on the minimum balance in your account.
Upon attaining the maximum of 0.13% p.a.* (after 12 counters of step up), maintain a minimum balance of S$20,000 OR ensure that your current month's minimum balance is greater than the previous month's minimum balance to continue to enjoy the superior interest of 0.13% p.a*.

3. Higher Interest Rates with StepUp Interest Account
How Citibank StepUp Interest Account compares to an ordinary savings account
Comparison between StepUp Interest Account and Savings Account
Let's assume you credit a salary of S$3,000 to your StepUp Interest Account, spend S$1,200 and save the remaining S$1,800 in the account every month. Over a period of 24 months, you would have earned interest of S$56.74  S$3.39 more than what an ordinary savings account has to offer!
*Computation is based on illustration assumption only
The revised account service fee and minimum total relationship balance requirements will be effective from
1^{st} January 2017 for Citi Priority, Citigold and Citigold Private Client and will be effective from 1^{st} February 2017 for Citibanking clients.
You will need to maintain a Total Relationship Balance (TRB) of minimum S$15,000 average per month for Citibanking, Citi Priority, Citigold and Citigold Private Client customers. Failing which, the account service fee of S$15 will be imposed on this account, respective to the banking relationship.
'Total Relationship Balance' is the sum of:
 The average daily balance of your checking, savings and deposit accounts,
 The average daily value of your investments, and
 All outstanding amount(s) payable on your secured loan accounts as of the date of your last statement.
Please note that if you choose to close the account within the first 6 months from account opening, a fee of S$50 will be applicable.
 Base interest is the basic interest that you will earn, just like your normal savings account. With this account, we are giving you a base rate of 0.01% p.a.*
 Step up interest is a unique component in addition to your base interest. This is innovatively designed to reward you more as you increase your savings with us.
 Base interest for the month is computed by multiplying the monthly base rate to the average daily balance of the month.
 Step up interest is computed by multiplying the monthly step up interest rate to the previous month's minimum balance.
This refers to the lowest balance that is in your account in the previous month.
If your minimum balance for the current month is less than that of the previous month, the table below will explain what your new step up counter is.
Existing Counter in Previous Month  Minimum Balance of Current Month  New StepUp Counter in Current Month 

0 to 5  S$0 and above  0 
6 
S$10,000 and above S$5,000 to < S$10,000 S$0 to < S$5,000 
6 6 0 
7 
S$10,000 and above S$5,000 to < S$10,000 S$0 to < S$5,000 
6 6 0 
8 
S$10,000 and above S$5,000 to < S$10,000 S$0 to < S$5,000 
6 6 0 
9 
S$10,000 and above S$5,000 to < S$10,000 S$0 to < S$5,000 
9 6 0 
10 
S$10,000 and above S$5,000 to < S$10,000 S$0 to < S$5,000 
9 6 0 
11 
S$10,000 and above S$5,000 to < S$10,000 S$0 to < S$5,000 
9 6 0 
12 
S$20,000 and above S$10,000 to < S$20,000 S$5,000 to < S$10,000 S$0 to < S$5,000 
12 9 6 0 
Your step up interest increases every month so long as you satisfy the qualifying criteria. For example, for the first time that your current month's minimum balance is greater than your last month's minimum balance, your step up interest rate will be at 0.01% p.a.*. Next month, this step up interest rate will grow to 0.02% p.a.*. As long as you qualify for step up interest, this will increase up to the maximum interest rate (rate cap). The rate is capped once the addition of your base rate and step up interest rate hits 0.13% p.a.* (i.e. 0.01% p.a.* + 0.12% p.a.* = 0.13% p.a.*).
You will continue to enjoy the base interest rate of 0.01% p.a.* and step up interest rate of 0.12% p.a.* by:
 Continuing to ensure that your current month's minimum balance is greater than last month's minimum balance; OR
 Maintaining your balance above S$20,000.
Once you hit the maximum interest rate (rate cap), this gives you additional flexibility to continue enjoying the base interest rate of 0.01% p.a.* and StepUp interest rate of 0.12% p.a.* without worrying about your current and last month's minimum balance.
Terms & Conditions:Terms & Conditions:
*All interest rates are subject to periodic review and may be revised at the bank's discretion. All rates are quoted on a per annum basis and are effective from 1 Aug 2011.
Base interest rate starts from 0.01% p.a., and is computed by taking the daily average balance at the end of the month. Your interest rate steps up each month, and up to a maximum of 0.13% p.a. over a 12month period, if your minimum monthly balance is higher than the previous month's minimum balance. Step up interest is computed based on the preceding month's minimum balance. Both Base interest and step up interest are credited on the last day of the month (excluding Sunday and Public Holidays).Interest rates are subject to periodic reviews and may be reviewed at the bank's discretion.
The rates shown here are indicative only and quoted in % p.a. The rates are subject to change without prior notice and are not to be taken as an offer to contract. Citibank shall not be responsible for any loss or damage arising directly or indirectly from the use of or reliance of the information provided therein.
Deposit Insurance Scheme
Singapore dollar deposits of nonbank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. For more information, please refer to SDIC's website at www.sdic.org.sg.
The products and services mentioned in this document are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, Isle of Man, the UK, Brazil, or New Zealand. This document is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.
Citibank full disclaimers, terms and conditions apply to individual products and banking.