PAYROLL ACCOUNT SERVICES

Open a payroll account to enjoy up to 135,000 miles or HK$8,200 cash rebate*

Payroll services - Open a bank account today.

Open a payroll account by Dec 31, 2017 and you could receive an array of fabulous privileges.

Step-up Interest Interest rate up to 1.0% p.a.Stock Privileges $0 Unlimited HK Stock Buy Fee

Apply online to enjoy an extra offer of
up to HK$200 shopping coupon

APPLY NOW

Apply online to enjoy an extra offer of
up to HK$200 shopping coupon

APPLY NOW

Apply online to enjoy an extra offer of
up to HK$200 shopping coupon

APPLY NOW
Welcome Offers

New users deposit designated new funds and monthly salary to enjoy the below offers:

Payroll Account Offer

Monthly Salary (HK$) Cash Rebate (HK$) / Avios*
≥ $80,000 $1,200 15,000 miles
≥ $50,000 $1,000 13,000 miles
≥ $30,000 $800 10,000 miles

New Funds Offer

  Designated new funds (HKD or equivalent) Cash Rebate (HK$) / Avios*
Citigold® ≥ $4,000,000 $7,000 120,000 miles
≥ $1,500,000 $4,000 80,000 miles
Citi Priority® ≥ $1,000,000 $2,500 50,000 miles
≥ $500,000 $1,500 25,000 miles

Citi Priority payroll clients must bring in new funds of HK$200,000 or above with a monthly salary of HK$50,000 or above to enjoy Payroll Account Offer and a year of monthly service fees waiver.

More fabulous offers:

Product Balance Offer 10

  Product Balance (HK$) Cash Rebate (HK$) / Avios*
Citigold® ≥ $650,000 $4,000 80,000 miles
Citi Priority® ≥ $200,000 $1,500 25,000 miles

Bonus Offer – Maintain fund for 1 year

  Maintaining funds amount(HKD or equivalent) Cash Rebate (HK$)
Citigold® ≥ $4,000,000 $1,300
≥ $1,500,000 $1,000
Citi Priority® ≥ $1,000,000 $800
≥ $500,000 $300

Please register for the Avios reward at www.citibank.com.hk/aviosoffer within the first 2 calendar months from account opening (including the month of account opening and the month following).

Step-up Interest

Step-up interest account features:

Up to 1.0% p.a. interest rate

Basic interest rate up to 120 times the normal savings rate

† As of February 1, 2017, the base interest rate (0.12% p.a.) is 120 times the reference savings rate of Citibank (0.001% p.a.) and is applicable to a maximum account balance of HK$1,000,000 only.

Interest rate increases monthly

  • Interest rate increases monthly as your account balance increases and fulfills the minimum growth amount* for 12 consecutive months (The minimum growth amount for your account balance is HK$8,000).
  • Bonus interest rate grows by 0.08% p.a. per month**. Interest rate can grow from 0.12% p.a. to 1.00% p.a..

* 18 months per cycle.
** The bonus interest rate applies to maximum account balance of HK$1,000,000 only.

  • The interest rate is protected by the "Safety Net" (0.60% p.a.) if your account balance fulfils the minimum growth amount (i.e. HK$8,000) in the 2nd to 7th months.
  • The interest rate maintains at 0.60% p.a. even if the minimum growth amount cannot be fulfilled after the 7th month. However, the interest rate will continue to grow as long as the minimum growth amount is fulfilled again.

Stock Privileges

Fabulous Stock Account Offers

Unlimited HK stock buy fee waiver for payroll account clients

Transfer in HK/US/SH stock to earn up to HK3,000 cash coupon rewards

Transfer in HK stock to further enjoy a 4% p.a. bonus HKD savings rate for 2 months

Stock Account Features

No minimum brokerage and permanent waiver for deposit fee and custodian fee

Permanent waiver for stock transfer-in service fee

Online IPO handling fee waived

  • Member-Get-Member Program
  • Exclusive year-round privileges via Citibank Online and Citi Mobile.

Remarks:Remarks:

  • Only applicable to Citigold Private Clients®, Citigold® services clients, Citi Priority clients and Citibanking® Citi At Work payroll clients who conduct HK securities transactions via Internet or Mobile Securities Service.
  • The "Payroll for continuous stock fee waiver" offer is applicable to HK stock buy transactions only. Starting from the 4th calendar month of securities account opening, clients have to deposit a monthly salary of HK$15,000 or above into a Citibank payroll account named Step-Up Interest Account via the auto payroll service or standing instructions ("Successful Payroll Deposit") to enjoy the offer. If there is no record of Successful Payroll Deposit or if the payroll account is cancelled in any single month from the 4th calendar month onwards, the offer will be terminated in that month and cannot be resumed.
  • To be eligible for a year of monthly service fees wavier, Citi Priority Payroll clients must bring in new funds of HK$200,000 or above with a monthly salary of HK$50,000 or above.
  • All the offers / rewards are not applicable to clients who are the employee of the Bank or Citibank N.A or its subsidiaries during the Promotion Period and at the time crediting the rewards.

Terms and Conditions for "Payroll for Continuous Stock Fee Waiver" Program

  • The "Payroll for Continuous Stock Fee Waiver" Program (the "Program") is only applicable to holders of a Step-Up Interest Account ("Payroll Clients"). Payroll Clients have to open a new securities account ("New Stock Clients") with Citibank (Hong Kong) Limited (the "Bank") from October 2, 2017 to October 31, 2017 (the "Promotion Period") and must not have cancelled or held any sole or joint securities account with the Bank within the past 12 months, in order to enjoy the Program.
  • The Program is applicable to Hong Kong stock buy transactions only. Buy and sell transactions of stock in other markets, stock transfer-in and transfer-out, Initial Public Offering, Stock Regular Savings Plan related transactions are not included. New Stock Clients can enjoy the brokerage fee waiver for the buy trades of Hong Kong stocks (the "Brokerage Fee Waiver") carried out via our Dedicated Trading Hotline, Citibank Online or Citibank Mobile Securities Services (where applicable) from the date of account opening if the below requirements are fulfilled:
    • New Stock Clients can enjoy the Brokerage Fee Waiver within the first 3 calendar months of securities account opening.
    • New Stock Clients have to deposit monthly salary of HK$15,000 or above into the Step-Up Interest Account via the auto payroll service or standing instructions from other banks ("Successful Payroll Deposit") from the 4th calendar month of securities account opening, and continue to have a Successful Payroll Deposit every month thereafter in order to enjoy the Brokerage Fee Waiver. E.g. A New Stock Client who opens a securities account within October 2017 has to have a Successful Payroll Deposit on or before January 31, 2018, and continue to have a Successful Payroll Deposit every month thereafter to enjoy the Brokerage Fee Waiver. From the 4th calendar month onwards, if there is no record of Successful Payroll Deposit or if the payroll account is cancelled in any single month, the "Payroll for continuous stock fee waiver" offer will be terminated in that month and cannot be resumed.
  • New Stock Clients are required to pay the regular brokerage fees at the time of trading. The waived brokerage fee during the waiver period will be refunded to New Stock Clients' settlement account linked to the securities account within 6 months of the corresponding stock transaction month. New Stock Clients should maintain a valid securities account and settlement account at the time when the refund is made.
  • The Program cannot be enjoyed together with "Up to a lifetime fee waiver on stock purchases" Program.
  • The Program is not available to clients who are the employees of the Bank or Citibank N.A. or its subsidiaries during the Promotion Period.
  • Illustration: A New Stock Client who opens a securities account on October 20, 2017, hence, October 2017 will be the 1st calendar month.

    Turnover in the month (HK$)
    Month Transaction month Successful Monthly Payroll Deposit* Brokerage Fee Waiver for Buy Trades BUY SELL
    Condition: New Stock Clients must have a Successful Payroll Deposit from the 4th calendar month and continue every month thereafter to enjoy the Brokerage Fee Waiver every month
    1st October 2017 No Yes (New stock clients can enjoy the Brokerage Fee Waiver even if there is no Successful Payroll Deposit yet) - -
    2nd November 2017 No HK stock HK$700,000 Total brokerage fee refund = HK$1,400 HK stock HK$100,000
    3rd December 2017 No - -
    4th January 2018 Yes Yes (As there was the first Successful Payroll Deposit from the 4th calendar month) - -
    5th February 2018 Yes Yes (As there was a Successful Payroll deposit this month) HK stock HK$500,000 Total brokerage fee refund = HK$1,000 HK stock HK$200,000
    6th March 2018 No No (As there was no Successful Payroll deposit this month) HK stock HK$50,000 (No Brokerage Fee Refund) -

Deposit monthly salary of HK$15,000 or above into the Step-Up Interest Account via the auto payroll service or standing instructions.

Remarks:

  • From the 4th calendar month onwards, if there is no record of Successful Payroll Deposit or if the payroll account is cancelled in any single month, the "Payroll for continuous stock fee waiver" offer will be terminated in that month and cannot be resumed.
  • Refund figures are based on an assumed brokerage fee of 0.2% of the trading turnover.

Terms and Conditions for "Stock Transfer-in for HK$3,000 Cash Coupon Rewards" Offer:

  • The promotion is valid from October 2 to October 31, 2017 ("Promotion Period"), both dates inclusive.
  • Clients must successfully transfer in HK/ US/ SH/ SZ stock from a third-party financial institution/ bank at a branch or via the “Stock Transfer” function on Citibank Online during the Promotion Period, to be eligible for the cash coupon rewards.
  • Cash coupon rewards amount will be determined by the total stock transfer-in value net of the total stock transfer-out value (“Total Stock Net Value”) of a client during the promotion period, according to the table below:
    Total stock net value (HK$) Cash coupon rewards amount (HK$)
    $500,000 - <$1,000,000 $500
    $1,000,000 - <$3,000,000 $1,000
    $3,000,000 or above $3,000
  • The Total Stock Net Value is based on the multiple of the closing stock price on the last trading day of the corresponding successful transfer-in month and number of shares. If a stock involves foreign currency, an exchange rate of USD1 = HKD7.8/RMB1 = HKD1.2 will be used for its stock value calculation.
  • The stock transfer activities in a joint name stock account will be considered in the Total Stock Net Value calculation for the primary account holder.
  • Each client can only enjoy the offer once during the promotion period.
  • Cash coupons will be sent to eligible clients within 6 months upon the end of the Promotion Period. Clients should maintain a valid and same HK securities account from the time the stock transfer-in is performed to the time the cash coupons are received.

Terms and Conditions for the "Stock transfer-in for 4% p.a. Bonus Savings Rate" Offer:

  • The offer is valid from October 2 to October 31, 2017 ("Promotion Period"), both dates inclusive.
  • Only a successful HK stock transfer-in from a third-party financial institution/ bank within the Promotion Period will be eligible for the offer.
  • Clients must successfully transfer in stock at a branch or via the “Stock Transfer” function on Citibank Online during the Promotion Period, to be eligible for receiving a 4% p.a. bonus savings rate (“Bonus Interest”) on the client’s HK dollar settlement account linked to the HK securities account in the next two months upon a successful stock transfer-in. The Bonus Interest will be calculated on the average balance of the respective HK dollar settlement account each month. The average account balance is calculated by dividing the sum of the daily account balance by the number of calendar days of the respective month (“Average Daily Balance”).
  • The Eligible Deposit Amount for the Bonus Interest each month will be capped at the total stock transfer-in value net of the stock transfer-out value ("Eligible Deposit Amount"). The stock value is based on the multiple of the closing stock price on the last trading day of the corresponding successful transfer-in month and number of shares. The Eligible Deposit Amount for each month will be capped at HK$20,000,000.
  • The total of the Bonus Interest entitled during the Promotion Period will be credited to the respective HK dollar settlement account within 6 months upon the end of the Promotion Period. Clients should maintain a valid and same HK securities account and HK dollar settlement account from the time the stock transfer-in is performed to the time the Bonus Interest is credited. If only a US Dollar/ Renminbi (RMB) settlement account is linked to the securities account, the Bonus Interest will be credited to that account. An exchange rate of USD1 = HKD7.8/RMB1 = HKD1.2 will be used for all calculations.
  • Illustrations:
    (a) A client who carries out stock transfer-in at a branch on October 25, 2017.
    Date Event HK stock a/c balance HKD Settlement a/c balance
    Oct 25, 2017 The Selected Client requests a HK stock transfer-in for 200,000 shares of stock. HK$0 HK$500,000
    Oct 28, 2017 The stock transfer-in is successfully completed. HK$1,000,000 HK$500,000
    Oct 30, 2017 The stock closing price is HK$5 per share, so the Eligible Deposit Amount is HK$1,000,000 for the 4% bonus savings rate in Nov and Dec 2017. HK$1,000,000 HK$500,000
    Nov 1, 2017 The client deposits HK$1,000,000 to his/her HKD settlement a/c. HK$1,000,000 HK$1,500,000
    Dec 31, 2017 The client has maintained an Average Daily Balance of HK$1,500,000 in his/her HKD settlement a/c in Nov and Dec 2017. HK$1,000,000 HK$1,500,000
    The client will receive HK$6,684 (HK$1,000,000 x 4% x 61/365) Bonus Interest within 6 months upon the end of the Promotion Period.

    (b) A client who carries out stock transfer-in via Citibank Online on October 25, 2017.
    Date Event HK stock a/c balance HKD Settlement a/c balance
    Oct 25, 2017 The Selected Client requests a HK stock transfer-in for 200,000 shares of stock. HK$0 HK$500,000
    Nov 3, 2017 The stock transfer-in is successfully completed. HK$1,000,000 HK$500,000
    Nov 22, 2017 The client deposits HK$400,000 to his/her HKD settlement a/c. HK$1,000,000 HK$900,000
    Nov 30, 2017 The stock closing price is HK$5 per share, so the Eligible Deposit Amount is HK$1,000,000 for the 4% bonus savings rate in Dec 2017 and Jan 2018. HK$1,000,000 HK$900,000
    Jan 31, 2018 The client has maintained an Average Daily Balance of HK$900,000 in his/her HKD settlement a/c in Dec 2017 and Jan 2017. HK$1,000,000 HK$900,000
    The client will receive HK$6,115 (HK$900,000 x 4% x 62/365) Bonus Interest within 6 months upon the end of the Promotion Period.
  • A stock transfer-in instruction may be cancelled and classified as unsuccessful after 10 business days (from the submission date) if Citibank does not receive the transfer-out instruction from the Financial Institutions from which the stock is transferred. An unsuccessful stock transfer-in is not eligible for the Offer.

Terms and Conditions for No Minimum Brokerage Fee Offer:

  • No Minimum Brokerage Fee Offer (the "No Minimum Brokerage Fee Offer") is valid until October 31, 2017.
  • Citigold Private Clients, Citigold® services clients, Citi Priority® clients and Citibanking Citi At Work payroll clients who conduct HK stock transactions via Citibank Online or Citibank Mobile Securities Services will have the minimum brokerage fee (HKD/RMB100 per transaction) waived. The No Minimum Brokerage Fee Offer is not applicable to transactions conducted via the Dedicated Trading Hotline.

General Terms and Conditions:

  • Clients will still be charged non-brokerage fee items such as, but not limited to, Stamp Duty, Transaction Levy and Trading Fee where applicable.
  • The Bank will credit the refund amount to a client's Hong Kong Dollar settlement account. If only a US Dollar/Renminbi (RMB) settlement account is linked to the securities account, the refund amount will be credited to that account. An exchange rate of USD1 = HKD7.8/RMB1 = HKD1.2 will be used for all calculations.
  • All the above offers cannot be used in conjunction with any other offers.
  • All the above offers / rewards are not applicable to clients who are the employee of the Bank or Citibank N.A or its subsidiaries during the Promotion Period and at the time crediting the rewards.
  • The Bank reserves the right to suspend, amend and terminate the offers and change the Terms and Conditions from time to time without prior notice.
  • The Bank reserves the right of final decision in the event of dispute.

In the event of discrepancy between the English and Chinese versions, the English version shall prevail.

Important Disclaimer:

You should seek advice from your professional advisors as to your particular tax position, including but not limited to estate duty and withholding tax that might arise from investing in overseas products. This material is for information purposes only and is not intended to constitute any offer or solicitation or advice to buy or sell any security. Investments are not bank deposits and are not obligations of, guaranteed or insured by Citibank (Hong Kong) Limited, Citibank, N.A., Citigroup Inc. or any of its affiliates or subsidiaries, or by any local government or insurance agency, and involve risks, including the possible loss of the principal amount invested. Share prices may go down as well as up. Investment products are not available for U.S. persons and might only be applicable to limited jurisdiction. Any person considering an investment should seek independent advice on the suitability or otherwise of the particular investment.

Terms & Conditions:Terms & Conditions:

General Terms & Conditions:

  • All welcome offers are not applicable to U.S. persons, except deposit interest rate.
  • All welcome offers, the continuous HK stock buy fee waiver offer and credit card welcome offer are not applicable to Citibank staff.
  • Unless otherwise specified, all welcome offers are not eligible for overseas clients (with an overseas correspondence address), not applicable to existing banking clients of Citibank (Hong Kong) Limited (“the Bank”) and clients who had a banking relationship with the Bank in the last 12 months.
  • Unless otherwise specified, the Promotion Period is valid from October 1 to December 31, 2017, inclusive of both dates ("Promotion Period").
  • Each client can only enjoy the offer once during the promotion period. For joint accounts, only one offer will be given to the Primary Account Holder.
  • The account status of each client must remain valid and normal at the time when the corresponding offer is rewarded or delivered to the client. Otherwise, the reward will be forfeited absolutely.
  • To be eligible for the British Airways Avios (“Avios”) offer, the client must be a member of British Airways Executive Club and register at designated Citibank webpage (www.citibank.com.hk/aviosoffer) within the first 2 calendar months from account opening (including the month of account opening and the month following). Overdue registrations will not be eligible for the Avios offer. Once successfully registered, no cancellation or change can be made. Client who does not register online will be rewarded with corresponding cash rebate welcome offer.
  • During online registration, the client is required to provide a valid British Airways Executive Club membership number, member's surname as it appears on your British Airways Executive Club account, and the 16-digit Citibank ATM Card number. No Avios will be rewarded in case of any incorrect information provided by clients.
  • The client's registered British Airways Executive Club membership number, member's surname and the eligible quantity Avios to be credited will be submitted to British Airways Executive Club for the purpose of fulfillment. British Airways Executive Club terms and conditions applies for the use of Avios .
  • The Bank reserves the right to claim for the refund of the gift should the new account be closed/downgraded within 6 months from the date of account opening, or the new client's "Average Daily Combined Balance" falls below the minimum balance requirement within 6 months from the date of account opening. The gift value will be debited from the client’s account at the time of account closure or downgrade, or 1 month from the first day the account balance falls below the required level whichever is earlier.
  • If the new client closes all of his/her accounts within 6 months from his/her account opening date, an account closure fee of HK$500 (or equivalent) will be charged.
  • The Bank reserves the right to amend the above Terms and Conditions from time to time and is entitled at any time without any liability in any manner whatsoever to alter the program without prior notice. Should there be any dispute, the Bank’s decision will be final.
  • Welcome Offers cannot be used in conjunction with other special promotions, discounts or promotional coupons, nor be transferred or exchanged for cash or other offers.
  • The English version of these Terms and Conditions shall prevail wherever there is a discrepancy between the English and the Chinese versions.

Terms & Conditions of Welcome Offers:

  1. Unless otherwise specified, welcome offers (cash rebate or Avios) will be credited to each eligible client’s banking account or British Airways Executive Club account by the date as specified in the table below .
    Account Opening Date Cash rebate will be credited Avios will be credited
    October 1 to 31, 2017 On or before April 30, 2018 Within 6 weeks after April 30, 2018
    November 1 to 30, 2017 On or before May 31, 2018 Within 6 weeks after May 31, 2018
    December 1 to 31, 2017 On or before June 30, 2018 Within 6 weeks after June 30, 2018
  2. Citigold is exclusive for clients who maintain the “Average Daily Combined Balance” of HK$1,500,000 or above, otherwise we reserve the right to convert his/her Citigold account to a Citi Priority or Citibanking account. Should the “Average Daily Combined Balance” fall below HK$1,000,000 for 3 consecutive months, a monthly service fee of HK$300 will be charged. For the fees of individual services, please refer to the latest service fee guide.
  3. The minimum requirement for Citi Priority account opening is HK$500,000. Citi Priority clients need to maintain the “Average Daily Combined Balance” of HK$500,000 or above, and will be eligible for monthly service fee waiver. Should the “Average Daily Combined Balance” fall below the minimum balance requirement for 3 consecutive months, a monthly service fee of HK$120 will be charged. For the fees of individual services, please refer to the latest service fee guide. A year of monthly service fees (12 months from the account opening date) will be waived for Citi Priority payroll clients with new funds of HK$200,000 or above and a salary of HK$50,000 or above. During the service fee waiver period, clients are required to deposit their salary of HK$50,000 or above every month, otherwise the Bank reserves the right to claim for a refund of the monthly service fee.
  4. Citibanking clients who maintain an Average Daily Combined Balance of HK$10,000 or above (or equivalent) for the previous month will enjoy a waiver of HK$60 (or equivalent) monthly service fee. Service charges for certain products apply.
  5. The "Average Daily Combined Balance" is calculated based on the sum of your daily balances of deposit, investment and accumulated paid premium of selected insurance products of all your single name account(s) and joint name account(s), divided by the number of calendar days in the month. Selected insurance products mean insurance policy(ies) with savings element or investment-linked insurance.
  6. New Funds Offer:

      To be entitled to relevant offers, new client is required to join Citigold Private Client / Citigold / Citi Priority during the Promotion Period and fulfill the following requirements:

      • New clients must bring in the required new funds specified below within the first 2 calendar months from account opening (including the month of account opening and the month following):
        Banking Service New funds amount (HK$ or equivalent) Cash rebate (HK$) or Avios
        Citigold Private Client HK$8,000,000 HK$15,000 250,000
        Citigold HK$4,000,000 HK$7,000 120,000
        Citigold HK$1,500,000 HK$4,000 80,000
        Citi Priority HK$1,000,000 HK$2,500 50,000
        Citi Priority HK$500,000 HK$1,500 25,000
      • Clients are required to maintain the new funds according to the hold fund period specified below and sign the fund maintenance agreement:
        Account Opening Date Hold Fund Period (until)
        October 1 to 31, 2017 March 31, 2018
        November 1 to 30, 2017 April 30, 2018
        December 1 to 31, 2017 May 31, 2018
    • New clients must enroll in the e-Statement Service at the time of account opening.
    • New clients can enjoy HK$200/HK$100 in shopping coupons upon successful opening of a Citigold/Citi Priority account through online appointment. The offer is subject to the terms and conditions printed on the coupon.
    • New funds exclude transfer of funds within the Bank. Transfer-in Mutual Funds/Bonds/Securities (Hong Kong, US or A shares via Hong Kong Shanghai Connect) will be counted as New Funds. Only Mutual Funds/ Bond offered by Citibank (Hong Kong) Limited, Citibank, N.A., Citigroup Inc. will be accepted. The transfer-in process may take at least 2 to 3 months.
  7. Payroll Account Offer:

      To be eligible for Payroll Account Offer, new clients must:

    • Successfully open a Citigold Private Client / Citigold / Citi Priority account and a Step-Up Interest Account; and
    • Start depositing monthly salary (payroll) into the Step-Up Interest Account for 12 consecutive months via the autopayroll service or standing instructions within the first 3 calendar months from account opening (including the month of account opening and the 2 months following); and
    • Fulfill the requirements stated in respective banking account’s New Funds Offer and sign the fund maintenance agreement.
    • The Bank reserves the right to reclaim the full cash value of the gift if the consecutive monthly payroll deposit is halted at any time in the first year after account opening.
      Banking Services Monthly Salary (HK$ or equivalent) Cash rebate (HK$) or Avios
      Citigold Private Client / Citigold / Citi Priority HK$80,000 or above HK$1,200 15,000
      HK$50,000 or above HK$1,000 13,000
      HK$30,000 or above HK$800 10,000
    • Below applicable to Citi Priority new clients only:

    • If clients are unable to fulfill the Citi Priority New Funds Offer, they are still able to enjoy the payroll account offer and a year of monthly service fees waiver by fulfilling the following criteria: Bring in new funds of HK$200,000 within the first 2 calendar months from account opening (including the month of account opening and the month following) and maintain a balance of HK$200,000 until at least the 6th month from account opening and start depositing monthly salary (payroll) of HK$50,000 or above into the Step-Up Interest Account for 12 consecutive months via the auto payroll service or standing instructions within the first 3 calendar months from account opening (including the month of account opening and the 2 months following) and sign the fund maintenance agreement.
    • Choose the new Citibank ATM Card with VISA payment function and make at least one purchase via the Visa network within the first 3 months after account opening (including the month of account opening); and
    • Enroll in the e-Statement Service at the time of account opening.
  8. Product Balance Offer:

      a. Citigold Private Client / Citigold
      To be eligible for Product Balance Offer, new client is required to fulfill the following requirements by the first 6 months of account opening and the aggregate amount of Designated Product Balance must be maintained on the last day of the 6th month of account opening :

      • Fulfilled the requirements stated in the New Funds Offer; and
      • Maintained an aggregate amount of Designated Product Balance at the Bank:
        Designated Product Balance to be calculated under the Offer at the last day of the 6th month of account opening
        Mutual Funds - Total amount of Mutual Fund holdings in minus the total amount of Mutual Funds redeemed and transferred out.
        - Mutual Funds must be distributed by the Bank and authorized by the Securities and Futures Commission.
        Bonds - Total amount of Bond holdings in minus the total amount of Bonds redeemed and transferred out.
        - Not applicable to all retail Bond IPOs and Certificates of Deposit.
        Structured Products - Total amount of Structured Products holdings minus the total amount of Structured Products early called/matured/sell back.
        Life Insurance - Aggregate premium paid of AIA life insurance plans and refundable insurance plans (including both basic plans and riders) which are of in-force status.
        - The plans have to be purchased through the Bank.
      • b. Citi Priority

        c. To be eligible for Product Balance Offer, new client is required to fulfill the following requirements by the first 6 months of account opening and the aggregate amount of Designated Product Balance must be maintained on the last day of the 6th month of account opening :

        • Fulfilled the requirements stated in the New Funds Offer; and
        • Completed the online Investment Risk Profiling; and
        • Maintained an aggregate amount of Designated Product Balance at the Bank:
      Designated Product Balance to be calculated under the Offer at the last day of the 6th month of account opening
      Securities - Total stock value as of the closing stock price at the 6th month of account opening which is based on the multiple of the closing stock price on the last trading day at the 6th month of account opening and number of shares.
      - If a stock involves foreign currency, an exchange rate of USD1=HKD7.8/ RMB1=HKD1.2 will be used for its stock value calculation.
      Foreign Currency Deposits - Total deposit holdings (excluding HKD).
      Life Insurance - Aggregate premium paid of AIA life insurance plans and refundable insurance plans (including both basic plans and riders) which are of in-force status.
      - The plans have to be purchased through the Bank.

      d. Product Balance Offer details (in the forms of Cash Rebate or Avios) for respective Banking Service & Designated Product Balance Requirement are listed below:

      Banking Service Designated Product Balance (HK$ or equivalent) Cash Rebate (HK$) or Avios
      Citigold Private Client HK$2,000,000 HK$15,000 250,000
      Citigold HK$650,000 HK$4,000 80,000
      Citi Priority HK$200,000 HK$1,500 25,000

    e. Product Balance Offer will be credited to each eligible client’s account together with the New Funds Offer as follow:


    Account Opening Date Designated Product Balance to be calculated on
    October 1 to 31, 2017 March 31, 2018
    November 1 to 30, 2017 April 30, 2018
    December 1 to 31, 2017 May 31, 2018

    f. Unless otherwise specified, the exchange rate of foreign currency will be calculated according to the Bank’s system record.

    g. Only clients with valid accounts and in good standing during the entire promotional period and at the time of fulfillment will be eligible for the reward. If the account status changes, the Bank reserves the right to terminate the offer to the eligible clients, without prior notice.

  9. Bonus Offer:
    To be entitled to relevant offers, new clients must:
    • Successfully joined Citigold Private Client / Citigold / Citi Priority during the Promotion Period
    • Fulfill Citigold Private Client / Citigold / Citi Priority new funds offer requirements
    • Maintain New Funds Offer requirement until the 12th month from account opening date
    • Bonus offer will be credited to client’s banking account on the 13th month from account opening date.

Terms & Conditions of Clients Referral Offer:

  1. The Promotion Period is valid from October 1 to December 31, 2017, inclusive of both dates ("Promotion Period").
  2. Unless otherwise specified, all offers are not eligible for overseas clients (with an overseas correspondence address) and Citibank sales staff.
  3. The referrer must be existing banking client of The Bank while referee(s) (new client) apply for banking account.
  4. The referral offer is not applicable if referee (new client) had any banking relationship within the past 12 months or is an existing client of Citibank banking services.
  5. To be eligible for the referral offer, referrer must successfully refer new client(s) to be a Citigold Private Client / Citigold / Citi Priority client(s) during the Promotion Period, subject to the fulfillment of welcome offers requirements (including New Funds Offer or Payroll Account Offer) :
    Referral Offer (Cash Rebate)
    Citigold Private Client Citigold Citi Priority
    HK$5,000 each HK$1,500 each HK$1,000 each
  6. For referrer and referee to be eligible for the additional HK$200 cash rebate respectively, the referee must submit an online application or call us directly to register and visit a selected Citibank branch in person to complete the account opening process on the appointed date.
  7. Referrers cannot refer themselves to become new clients, including the owner/ shareholder of company refers his/ her company or vice versa. Referrers and referees cannot refer each other to become a new client.
  8. The referrer's entitlement to the referral offer will be subject to the Bank's confirmation on the referee's fulfillment of the welcome offers requirements.
  9. The referral offer will be credited to the referrer's Citibank account on the 7th month upon the referee's account opening after the referee has fulfilled the requirements of the new funds offer
  10. Only those clients (including referrer and referee) whose relevant accounts are valid and in good standing during the entire promotional and redemption period will be eligible for the rewards. If the account status changes, the Bank reserves the right to terminate the offers to the eligible clients, without prior notice.
  11. The referral offer cannot be used in conjunction with other special promotions, discounts or promotional coupons, nor be transferred or exchanged for cash or other offers.

TERMS AND CONDITIONS FOR STEP-UP INTEREST ACCOUNT("THE ACCOUNT") (Effective as of February 1, 2017)

  1. Interest of the Account is composed of the following 2 components:
    • Base Interest4 is calculated with reference to the Daily Account Balance and is accrued on a daily basis. Tier pricing applies as below:
      Balance (HK$) Base Interest (p.a)
      0 to ≤1,000,000 0.12%
      >1,000,000 0.01%
    • Bonus Interest4 is calculated with reference to current month’s Daily Average Account Balance, subject to the below terms:

      i) Customers are eligible for the Bonus Interest only if the current month’s Daily Average Account Balance is higher than or equal to previous month’s Daily Average Account Balance by the Minimum Growth Amount (HK$8,000 as of Feb 1, 2017 which is subject to change from time to time) pre-determined by Citibank (Hong Kong) Ltd ("the Bank").

      ii) Subject to other terms stated herein, fulfilling the criteria stated in (i) will enable an increment of the Step-Up Counter by “1” and each consecutive increment in Step-Up Counter will translate into a 0.08% increment Bonus Interest Rate. For details, please refer to below “Step Up Counter Bonus Interest Rate” table:

      Step-Up Counter Incremental Bonus Interest Rate (p.a.) Accumulated Bonus Interest Rate (p.a.)
      0 0.00% 0.00%
      1 0.08% 0.08%
      2 0.08% 0.16%
      3 0.08% 0.24%
      4 0.08% 0.32%
      5 0.08% 0.40%
      6 0.08% 0.48%
      7 0.08% 0.56%
      8 0.08% 0.64%
      9 0.08% 0.72%
      10 0.08% 0.80%
      11 0.08% 0.88%

      iii) The cap of the Step-Up Counter is 11 whereas the absolute cap of the Bonus Interest Rate is 0.88%p.a.

      iv) The Step-Up Counter will be reset to zero on the last day of every 18 months after account opening.

      v) The Bonus Interest Rate applies to maximum Account Balance of HK$1,000,000 only.

      vi) If customer fails to step-up the current month’s Daily Average Account Balance with the Minimum Growth Amount, the Step-Up Counter and hence the Bonus Interest Rate will be reset according to below logic:

      Existing Step-Up Counter New Step-Up Counter Bonus Interest Rate (p.a.) Total Interest Rate (p.a.)
      0-5 0 0.00% 0.12%
      6-10 6 0.48% 0.60%
      11 11 0.88% 1.00%

      vii) Bonus Interest will be credited to the Account on the first business day of the subsequent month.

  2. The current month’s Daily Average Account Balance is calculated by dividing the sum of the Daily Account Balance by the number of calendar days of the current month.
  3. For Customers whose “Average Daily Combined Balance” falls below the minimum balance requirement, a monthly service fee will be charged (for details of the fee and the minimum balance requirement, please refer to the latest service fee guide which is available at the bank’s branches or the bank’s website – www.citibank.com.hk). Customers using the Account for payroll are eligible for preferential minimum balance waiver until further notice. Customers must continuously use the Account for payroll or the Bank reserves the right to convert the Account to a HKD Savings/ Checking Account, and terminate the above offers anytime without prior notice.
  4. All the rates, terms and conditions of the Account including but not limited to Interest rates (Base Interest Rate & Bonus Interest Rate), Minimum Growth Amount, Cap of Step-Up Counter, Bonus Interest Rate cap, Amount eligible for Bonus Interest Rate, Counter Reset mechanics, Minimum Balance Waiver and other features of the Account are subject to periodic reviews and may be changed at the Bank’s sole discretion. The Bank reserves the final right to determine whether to award the Bonus Interest to the Account.
  5. Should there be any Interest rates (Base Interest Rate & Bonus Interest Rate) changes, the Bank shall notify customers through notices posted at branch premises and the Bank’s website (www.citibank.com.hk). Customer should pay attention to the notices available from the aforementioned sources.
  6. The terms and conditions of Step-Up Interest Account shall be in addition and supplementary to and not in substitution or in derogation of the Terms and Conditions for Accounts and Services and all other terms and conditions applicable to customers from time to time. In case of any inconsistency between the terms and conditions of Step-Up Interest Accounts and the Terms and Conditions for Accounts and Services, the terms and conditions herein contained shall prevail. Citibank (Hong Kong) Limited reserves the right to amend the terms and conditions without prior notice. All matters or disputes will be subject to the final decision of Citibank (Hong Kong) Limited. If there is any inconsistency between the English version and the Chinese version, the English version shall prevail. Important Disclosure: Products might only be applicable to limited jurisdictions.

Important Disclaimer:

You should seek advice from your professional advisors as to your particular tax position, including but not limited to estate duty and withholding tax that might arise from investing in overseas products. This material is for information only and is not intended to constitute any offer or solicitation to buy or sell. Investments should not be treated as a substitute for time deposits. Investors should refer to the relevant investment products offering documents for detailed information prior to subscription. Investments are not bank deposits and involve risks, including the possible loss of the principal amount invested. Investors investing in investment products denominated in non-local currency should be aware of the risk of exchange rate fluctuations that may cause a loss of principal. Unit prices may go down as well as up. Past performance is not indicative of future performance. Unless specified, these investments are not obligations of, guaranteed or insured by Citibank (Hong Kong) Limited, Citibank N.A., Citigroup Inc. or any of its affiliates or subsidiaries, or by any local government or insurance agency. Investment products are not eligible for U.S. persons and might only be applicable to limited jurisdiction. Potential investors should consider if an investment is suitable for them in the light of their own financial position, investment objectives and risk profile.

Foreign currency trading is subject to rate fluctuations which may provide both opportunities and risks. Investors may experience a loss when they convert foreign currency back to their home currency. Investors should therefore carefully consider whether such trading is suitable for them in light of their own financial position, investment objectives and risk profile. Exchange Controls imposed by the relevant authorities may also adversely affect the applicable exchange rate. Citibank or any of its associates will benefit from the origination and distribution of the in-house product.