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Citibank Junior Savings Account
Everything you need to know
- About
- How to Apply
- FAQs
What is a Citibank Junior Savings Account?
Citibank Junior Savings Account are specially crafted for teenagers who are of at least 15 years or above but below 18 years of age. This Citibank Junior Savings Account can be accessed via ATMs or Citibank Online, provided you as the adult account holder authorize to give access to the account or Citi card to your child.
Access your Account
Log on to the Citi Mobile® App, Citibank Online or call us via Phone Banking
(for adults/child aged above 15 years)
Citibank Debit Mastercard®
Free cash withdrawals at Citibank ATMs worldwide (for adult/ child aged above 15 years)
 Eligibility Criteria |
• Parents/Guardians (up to two adult applicants) who are 18 years old and above, may open an account on behalf of their child, aged below 18 years old • Limited to ONE child per account |
 Monthly Service Fee and Minimum Balance |
• There is no service fee ONLY for the Citibank Junior Savings Account. • However, typically if there are any other savings accounts, you need to maintain TRB (Total Relationship Balance) of S$15,000 for Citibanking or Citi Priority or Citigold or Citigold Private Client. |
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Citibank Junior Savings Accounts can be opened for kids in the age group of 15 years to 18 years. A child within the permissible age limit can open the account jointly with 1 or 2 adult applicant(s) only who are 18 years of age or above. The bank permits only one child per account and typically there is no service fee specified only for this account. With a Citibank Junior Savings Account, you can easily keep a track of your funds with separate monthly statements. Also, this account helps your kid save and earn interest on that amount too.
Facilities for this account include Phone Banking, Online Banking, and an International ATM card. However, the latter two options can be availed only if the child is above 15 years of age and is authorized by the adult account holder to do transactions via Online Banking, or the International ATM card.
The base interest for Citibank Junior Savings Account is 0.05% per annum for up to S$30,000. If the account balance is more than S$30,000, the account holder will get an interest of 0.10% per annum on the savings account. You can check the below table to know the interest rate on the Citibank Junior Savings Account.
The revised account service fee and minimum total relationship balance requirements will be effective from
1st January 2017 for Citi Priority, Citigold and Citigold Private Client and will be effective from 1st February 2017 for Citibanking clients.
There is no service fee ONLY for the Citibank Junior Savings Account.
However, typically if there are any other savings accounts, you need to maintain TRB (Total Relationship Balance) of S$15,000 for Citibanking or Citi Priority or Citigold or Citigold Private Client.
Example 1: You ONLY have Junior Savings Account
Total Relationship Balance = $5, Account Service Fee = $15
- No service fee will be charged.
Example 2: You have Maxisave and Junior Savings Account
Total Relationship Balance = $5, Account Service Fee = $15
- No service fee will be charged from Citibank Junior Savings Account. SGD Maxisave will be charged $15.
Your child, who is 15 years and older, can access his funds via ATM machines or Citibank Online if you, the adult account holder, authorise to give the child the Citi card. You must sign the Citibank Junior Savings Account - Application for Citicard and ATM-Pin Issuance form before the issuance can take place.
Yes, this account offers Internet Banking access anytime, anywhere, via Citibank Online. As for your child, if he/she is above 15 years of age and with your consent, he/she can also access the account online too.
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 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.
Disclaimer
The promotions, products and services mentioned in the referenced document are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey and Jersey, Monaco, San Marino, Vatican, The Isle of Man, the UK, Brazil, New Zealand, Jamaica, Ecuador or Sri Lanka. The referenced document is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the promotions, products and services mentioned therein to such individuals.
Important Investment Information
Investment products are: Not Bank Deposits. Not Bank Guaranteed. May Lose Value. Not Insured By Any Government Agency. Investment products are not available to U.S. Persons.
Important Insurance Disclosures
The insurance plans are underwritten by AIA Singapore Private Limited (Reg. No. 201106386R) ("AIA") and distributed by Citibank Singapore Limited. All insurance applications are subject to AIA’s underwriting and acceptance. This is only general product information provided and is not a contract of insurance. The information provided must be read with, and is subject to, all the terms and conditions and exclusions contained in the policy contract. Protected up to specified limits by SDIC. Please refer to full disclosures applicable to relevant product(s) and/or service(s).
Citibank full disclaimers, terms and conditions apply to individual products and banking services.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
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