Citi Cd Rates

12.02.2021by
  1. Citibank Cd Rates Specials
  2. Citi Cd Rates Today

Citibank has 700 branches across the U.S. 90 free spins. Accounts must be opened as a checking & savings package. Service fees and ways to waive are on the high side. Best for high-balance customers.

Dec 15, 2020 You can apply for and open a Citibank CD online, however if you plan on depositing more than $250,000 you must stop into one of Citibank’s 700 branch locations across 12 states. You can locate a branch here. Citibank CD Rates + Account Details. Citibank CDs are federally insured by the FDIC up to $250,000 per depositor or $500,000 for joint. Citibank Online.

Checking Account Bonuses

Citibank often offers cash bonuses for new banking customers. Some deals are for opening a checking plus savings account package. Offers are usually available for residents nationwide.

All CitiBank checking accounts offer free online banking, bill pay, and mobile deposits.

How to Avoid Citibank Account Fees

  • Access Account Package. The $10 monthly fee can be waived if you: make a direct deposit or a bill payment per statement cycle, OR maintain a combined average monthly balance of at least $1,500 in linked Citibank accounts. This account has no check writing or overdraft fees.
  • Basic Banking Package. The $12 monthly fee can be waived if you: make a direct deposit or a bill payment per statement cycle, OR maintain a combined average monthly balance of at least $1,500 in linked Citibank accounts, OR are 62 or older.
  • Citibank Account Package. The $25 monthly fee can be waived if you maintain a combined average monthly balance of at least $10,000 in linked deposit, retirement, and investment accounts.
  • Citi Priority Package. The $30 monthly fee can be waived if you maintain a combined average monthly balance of at least $50,000 in linked deposit, retirement, and investment accounts.
  • Citigold Package. There is no monthly service fee if you maintain a combined average monthly balance of at least $200,000 in linked deposit, retirement, and investment accounts.

How to Get the Best Deal at Citibank

Citibank is best for high-balance customers who can open one of the elite accounts to earn reward points, get preferred rates, and other perks.

If you can keep enough on deposit to open one of the Citibank Account Package and above accounts (which requires at least $10,000 in combined balance), you get perks such as:

  • Opportunity to earn Citi ThankYou Rewards
  • Free checkbook orders (how many free orders depends on which account you have)
  • Option to earn interest on checking balance
  • No Citi fee when using non-Citi ATMs
  • Potential for higher interest rates on savings products
  • Waived annual fee for Citi Personal Wealth Management investment account (for Citi Priority and Citigold customers)

Citibank currently offers nineteen, standard-term, fixed-rate certificates of deposit with most of their rates sitting at or below the current national average(s) for their respective terms.

Citibank also offers two promotional deposits. A “Step Up CD” and a “No Penalty CD.”

The Step Up CD is a 30 month deposit with a composite APY of 0.15%. You can read more about the terms and conditions here.

The No Penalty CD is a 12 month deposit featuring an APY of 0.05%. Funds from this account may be withdrawn penalty-free at any time after six calendar days from opening the account. You can read more about the terms and conditions here.

Citibank also offers two “featured” short term CDs (a 3 month CD and a 4 month CD). These come with slightly better APYs when compared to the national average for their respective terms than the rest of Citibank’s certificate of deposit offerings.

That said, if you are in the market for a short term deposit, you’ll probably want to see if you’re eligible for the Citi Accelerate Savings account which is available in select regions. This account comes with a much better yield, but also with a variable rate that can change at any time.

Citibank Cd Rates Specials

Citibank’s CDs have varying minimum deposit requirements by region. Depending on where you live minimum deposit requirements will range from $500 to $2,500. See our table below for a complete breakdown.

You can apply for and open a Citibank CD online, however if you plan on depositing more than $250,000 you must stop into one of Citibank’s 700 branch locations across 12 states. You can locate a branch here.

Citibank CDs are federally insured by the FDIC up to $250,000 per depositor or $500,000 for joint accounts.

Citibank CD Rates

To give these offers above some context, the current national average for a 12 month CD and a 5 year CD sit at 0.21% APY and 0.44% APY, respectively. There are also a handful of credit unions and online banks still paying 1.0% APY on some regular term CDs.

Citibank Promotional CDs

Citi Cd Rates

Both the Step Up CD and the No Penalty CD come with minimum deposit requirements of $500.

Minimum Deposit Requirements for Standard Citibank CDs

As mentioned, the minimum deposit requirement for all Citibank CDs vary by region. Below is the breakdown.

To open a Citibank CD online you must be a U.S. resident or citizen and at least 18 years old. You will need the following pieces of information to complete your application online:

  • Physical address
  • Date of Birth
  • Social Security Number
  • Email Address
  • Phone Number

To fund the account you will need the bank account number and routing number for the institution you will be transferring the funds from.

Interest on all Citibank CDs compounds daily. For CDs with terms of one year or less, interest is paid to you either monthly or upon maturity. And for CDs with terms longer than one year, interest is paid monthly.

Early Withdrawal Penalties

Although Citibank has offered lucrative standard term CDs and promotional deposits in the past, its current product suite and rates are much less competitive than the top offers from online banks and nationally available credit unions.

Citi Cd Rates Today

That said, of the big banks (Chase Bank, Wells Fargo, Bank of America and US Bank) Citibank still has the best rates for savers. So if you’re after an FDIC-insured certificate of deposit with a bank that has national coverage, then Citibank may be your best bet.

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