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The base interest of Citibank Step-Up Account starts from 0.16% p.a.
If your minimum monthly balance is higher than the previous month’s minimum balance, the interest will step up automatically.
The step up interest is 0.07% p.a.
The interest rate steps up (adds up) each month to a maximum of 1.0% p.a. over a 12-month period.
After reaching the 12th counters of Step-Up and getting the maximum of 1.0% p.a. interest, in order to continue getting the interest rate of 1% p.a., you need to have at least S$20,000 inside the account or ensure that the current month’s minimum balance doesn’t get lower than the previous month minimum balance.
Citibank Step Up Account Interest has already drop from 2% -> 1.2% -> 1% p.a.
I hope the interest don’t go any lower any more as there isn’t much high interest rate savings account in the market already.
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