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Citi launches new saving account

Credit card provider Citi has launched a new saving account with a competitive rate for customers.

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16 July 2009

Citi launches new saving account”

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It is hoped the Citibank flexible saver account will give customers the potential to really grow their savings.

The account is available from today to new customers with a deposit between £1 and £1 million.

New customers are offered a rate of 3.10% AER including a 12 month fixed rate bonus of 2.06% gross per annum.

After the first 12 months, the introductory rate will be replaced with Citi's variable underlying rate, which is currently 1.00% gross per annum / AER.

Existing customers will be paid the underlying rate when they open a new account.

According to Citi, there is no notice period or penalties for withdrawal.

Sharon Maguire, head of savings at Citi, said: "Customers also have the flexibility to withdraw however much they like, whenever they like, without penalty."

Citi is also offering a credit card with typical 28.9% APR variable.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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