Citibank NRI Services Review

Written By Mani Karthik

I share everything I learned in life on this blog. Everything from personal finance tips to life hacks that'll make you a smarter person. Founded BackToIndia - on a mission to help NRIs move back to India.

The reason Citibank’s NRI account is so popular is that it allows deposits in both foreign currency and the Indian rupee. It offers fully repatriable deposits of foreign currency in euro, US dollars, Canadian dollars, Australian dollars, pound and yen.

Before you go ahead an open an account, what you need to know is that there are two types of accounts – NRE and NRO. The Non-Residential External or NRE account is a fully repatriable account for money deposited in Citibank as well as other Indian banks. The Non-Residential Ordinary or NRO account offers partial repatriation of money earned in India or abroad.

Also read: ICICI NRE Services Review

 Citibank NRI Accounts Features

Citibank offers various special features for its NRI account holders, such as free online banking services, free cheque book and convenient options for transferring funds. The NRE account offers services like debit card, which is valid globally, free repatriation of funds in foreign currency and easy overseas funds transfer. Special features for the NRO account include a debit card valid in India, convenient fund transfer from NRO or any other bank account and repatriation up to $ 1 million for each account holder. Citibank ensures the highest levels of privacy and security for all your personal and official details.

Citibank NRI Account Benefits

Citibank provides efficient fund management services and banking solutions for its NRI account holders. It offers free online banking services, including online transfer to any other Indian bank, without any charges, and special access to select international and national airport lounges in India. You can also order Demand Drafts online and get them delivered to over 1,100 different locations in India for free.

Citibank also provides special discounts and privileges at select merchants and restaurants across India. Moreover, their 24*7 customer care service is always there for assistance.

Citibank NRI Interest Rates

The interests offered on savings accounts generally vary from bank to bank. You get an interest rate of 3.5% per annum on your savings in a Rupee Checking account. This interest rate is applicable for both NRE and NRO accounts. The interest is deposited in your account quarterly, in the months of December, March, June and September. However, this interest rate is lower than that offered by many other Indian banks, such as ICICI, which offers 4% interest on all types of savings accounts, including NRI accounts.

Customer Reviews

There are mixed opinions about Citibank’s NRI services. An NRI who had a bad experience with another Indian bank decided to open a Citibank NRI account. He went to Citibank’s open house in Berkeley and submitted his details to the official. Within 14 days, his NRI account was opened and after 2 days, he got a package from Chennai that contained his internet password and ATM pin. However, there are some NRI account holders who have complained that the 24*7 customer care service is misleading and that their transactions are not transparent. So, it is always advisable to research and compare the features and benefits provided by various banks before opening an NRI account.

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4 Comments on “Citibank NRI Services Review”

  1. Citibank nri account so awful I just cannot exagerate enough. Please please guys don’t open an account with them. I have 5 lakhs stuck with their account for more than 3 years. They don’t give me a new debit card, they don’t want to change my address. They are just so unreliable. And now i have a new situation where they sent a tax document to United States without even contacting me. Just don’t go through the hassle. it’s not at all worth it.

  2. Hi Mani, Citibank Customer Service is awful. My Citibank Debit Card was swallowed by an ATM. The Customer Service team identified me and blocked my card. But when I asked them to reissue a new card, then I had to face the bureaucracy of firstly Account Number. Then, they won’t send the card to my address in India. It has been a nightmare trying to access my money.

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