Friday May 20, 2022

CitiBest cows for 5% pa on a term deposit

Citibank recently launched the CitiBest product, which represents a combination of investments in mutual funds and term deposits with a favorable annual rate and 5% pa. investment in the fund. Is this product worth it?

Pros:

– on the market an unusually high year of term deposits (in the case of foreign investment 5% pa)
– the possibility of tmsn renewal of the deposit for the same annual rate
– in case of investment in foreign currency wide fund (90)
– if you do not want to invest in foreign currency due to exchange rate risk, you have the option of choosing from five funds in CZK and the opportunity to deposit your funds on a tmsn term deposit for still sunshine 3.5% pa

Disputes:

– there is a minimum deposit of 100,000 K on the term deposit, together with the condition of a minimum investment in mutual funds, there is therefore a need for at least 200,000 K
– you have to deal with fees for investments that are not at all advantageous and move
in the usual vi
– obligation to pay income tax for investments less than 6 msc (5%) and for term deposits always (15%)

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