Citi offers a wide variety of checking, savings and certificates of deposit (CDs). If you prefer to house your accounts under one roof, Citi Bank is definitely worth considering. Plus, because it has hundreds of physical branches in the US, it’s a solid choice if you appreciate in-person support. That said, the rates on its deposit accounts aren’t the best, and you’ll also have to pay monthly fees if you don’t reach a certain account balance. If you want to speed up your savings rate by earning a competitive rate, you may want to look into online banks that offer better returns instead.
Best for: Those who prefer to manage all their banking in one place.
Citibank might be the place for you if you’re looking for comprehensive service and want to cover all your banking needs in one place. Just make sure to check if there’s a location near you, especially if you value in-person support.
Also, keep in mind its savings accounts aren’t available everywhere, so confirm with the bank first before you try opening an account.
If you value account variety and in-person support, Citi has that going for it.
It’s a global bank with a large ATM network and many services.
If you want to avoid monthly fees without worrying about requirements, you might want to look elsewhere.
Citi allows you to choose between an Access Checking or Regular Checking account, depending on your banking needs. Both accounts don’t come with overdraft or return item fees. And if you plan to keep a balance of at least $30,000 in either of these accounts, you can open a ‘Relationship Tier’ account that lets you enjoy benefits like zero monthly fees.
Similar to Citi’s checking accounts, to get the best perks, you’ll need to be in the Relationship Tier.
Citi’s high-yield savings account, called Accelerate Savings Account, offers up to 4.35% APY in the Relationship Tier, depending on zip code and relationship status.
There’s no minimum deposit to open a savings account with Citi, but if your balance stays at zero for 90 calendar days or more, the account is subject to closure. There’s also a $4.50 monthly service fee, but you won’t get charged for the first three months after account opening. If you own a Citi checking account or maintain an average monthly account balance of $500 or more in the savings account, you can waive the fee as well.
The interest rate on Citi’s savings accounts is variable and can change at any time. Note that Citi’s savings accounts may not be for all Florida and Illinois residents.
Citi offers three types of CDs: fixed-rate CDs, step-up CDs and no-penalty CDs. All its CDs compound interest daily. But if you have a CD with a term of one year or less, Citi lets you choose whether you want the interest to be credited monthly or at maturity.
The minimum opening deposit for Citi’s CDs is typically $500. Interest rates and terms can vary depending on the type of CD and how much you deposit into the account. Check out Citi’s CD rates and review to figure out how much you could earn with these deposit accounts.
Citi has an astonishingly low F rating from the Better Business Bureau (BBB). It has failed to respond to multiple complaints, and the government took action against Citi a few years ago for not following the Truth in Lending Act. Simply put, Citi did not reevaluate the APRs on credit cards as frequently as it should have.
On BBB, with nearly 1,000 customer ratings, an overwhelming number of people complained about horrible customer service. Their Trustpilot review isn’t any better. You can also find thousands of complaints filed against Citi on the Consumer Financial Protection Bureau database.
That said, the Federal Financial Institutions Examination Council gave Citi an “Outstanding” rating, and it’s also a member of the FDIC, so it’s considered legitimate by government-backed institutions.
Compare checking and savings accounts by monthly fee, opening deposit and APY. Select Compare to see up to four accounts side-by-side.
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
The Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.
The Finder Score analyzes hundreds of CDs from more than 100 institutions. It takes into account the product's interest rate for available terms and opening deposit requirements - this gives you a simple score out of 10.
Different banks and credit unions offer CDs for various lengths of time, ranging from as short as seven days to as long as 20 years. For our ratings, we consider the term lengths that the FDIC uses in its monthly updates on national rates.
If a bank or credit union doesn’t offer a CD for a specific term used by the FDIC, we don’t penalize it: Instead, we simply don’t rate it. Each of the standard term lengths has its own APY rating based on the FDIC’s average rates.
If you prefer to house your accounts under one roof — and the monthly balance requirements are feasible for your situation — Citi could let you check banking off your to-do list. But if you’re hoping for a high APY or you want to pick and choose your product mix, shop around for banks that offer more flexibility.
Which packages qualify for Citi’s ThankYou Rewards Points?
Earn ThankYou Rewards with three of its top tier options: The Citibank Account Package, Citi Priority and Citigold packages.
Which states have branch locations?
Citi has brick-and-mortar locations in 12 states, including California, Connecticut, DC, Florida, Illinois, Maryland, Nevada, New Jersey, New York, Puerto Rico, South Dakota and Virginia.
Manage your banking, investing and personal wealth strategy under this Citi account.
An online savings account with a tiered interest model but not-so-competitive rates.
Keep your money within reach with the Citi Savings account.
Compare Citi CD terms to find the best rates and account options to maximize your savings.