In this guide

  • Our verdict
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure
Citi CD
4.6
★★★★★
Finder score
1-year APY
4.30%
3-year APY
2.50%
5-year APY
2.50%

Our verdict

Up to 5.65% APY on its fixed-CD terms, but no-penalty and step-up CDs offer low rates.

Citi Bank offers CDs for a variety of terms, topping out at a competitive 5.65% APY for an 11-month fixed-rate CD. All CDs require a minimum $500 opening deposit, which is lower than most competitors. Terms for their fixed-rate CDs also max out at five years, whereas other competitors often offer CDs as long as 10 years. Aside from fixed rate options, Citi offers step-up and no-penalty CDs, but those have poor rates ranging from 0.05% to 0.15%. Overall, its featured terms are the only ones worth looking into, as all other terms and CD types have lower rates than the national average and top competitors. CitiBank states that exact rates can vary by location but appear rather consistent across multiple states.

Best for: Those in need of a short-term CD.

Pros

  • Up to 5.65% APY
  • Low $500 opening deposit
  • Can make interest withdrawals without penalty

Cons

  • Low rates on no penalty and step-up CDs

In this guide

  • Our verdict
  • Your reviews
  • Ask a question

Overview of Citi CD rates

Citi Bank’s CDs compound interest daily. And if you get a CD with a term of one year or less, you can choose whether you want the interest to be credited monthly or at maturity — and the obvious choice is monthly, so you can really gain from that compounding interest.

Overall, the best CDs with Citi are the fixed-rate ones, offering up to 5.65% APY with a small minimum opening deposit of $500.

CD termAPYMinimum deposit
3 months0.05%$500
4 months0.05%$500
5 months0.05%$500
6 months1.1%$500
7 months0.05%$500
8 months0.05%$500
9 months4.3%$500
10 months0.05%$500
11 months
  • 5.25% below $100,000
  • 5.65% above $100,000
$500
12 months4.3%$500
13 months0.1%$500
14 months0.1%$500
15 months
  • 4.3% below $100,000
  • 4.75% above $100,000
$500
18 months2.5%$500
24 months2.5%$500
30 months0.1%$500
3 years2.5%$500
4 years2.5%$500
5 years2.5%$500

Other types of CDs

Citi also offers no-penalty CDs and step-up CDs.

As the name suggests, Citi Bank’s step-up CDs are designed to increase its rate gradually. For the first to 10 months, it’s 0.05%, then for 11 to 20 months, it’s 0.1%, and lastly, a 0.15% APY for the last 21 to 30 months. But you’re better off just getting a regular fixed-rate CD for 11 months from Citi, as its 5.25% APY is quite literally 100 times higher than the first 11 months of the step-up option.

Citi’s no-penalty CDs allow you to withdraw the full balance and interest without penalty after the first six days you make the minimum deposit. However, partial and interest withdrawals from a no-penalty CD aren’t allowed.

Relationship program

If you’re not already a Citi Bank customer, you can join the relationship rewards program when you open a CD, checking, savings, IRA or investment account. As a “New to Relationship customer,” you can choose what tier you want to enter when you open the CD.

Within the first month of entering the program, Citi Bank will look at all your balances across your Citi Bank accounts. Your combined balance determines what tier you’re in.

Some perks include waived fees on deposit accounts, no fees at ATMs, out-of-network ATM reimbursements, higher withdrawal limits, waived check fees and discounts on personal loans.

Everyday BenefitsCiti PriorityCitigold
Balance required$0 to $29,999.99$30,000 to $199,999.99To enter: $200,000 to $999,999.99
To maintain status: $180,000 to $999,999.99

More about Citi’s CDs: Deposits, fees and details

What it isDetailsHow it compares
Minimum deposit$500Less than most competitors, which often require $1,000 or more.
Term range1 month to 5 yearsThis is pretty standard, though some competitors offer terms as long as 10 years.
Early withdrawal penaltiesTerms 1 year or less: 90 days of simple interest
Terms 1 year or more: 180 days of simple interest
Standard amongst most competitors.
Grace period7 days after the maturity dateMost competitors offer a 10-day grace period.

Cashout and rollover details

If you don’t withdraw your funds within the seven-day grace period, a fixed-rate CD will be automatically renewed for the same term at an available rate at the time of the renewal. The no-penalty CDs automatically renew to a standard 12-month CD.

Except for no-penalty CDs, you can also withdraw earned interest before maturity without penalty if it’s a new CD that hasn’t been renewed before.

How Citi’s CD rates compare

Citi Bank has a few standout terms for its fixed-rate CDs and a low opening deposit requirement of only $500. For comparison, Chase requires at least $1,000, and Wells Fargo requires $2,500 to $5,000.

The rates on Citi’s CDs are also high on select terms, such as the 11-month fixed-rate CDs offering up to 5.65%. That’s significantly higher than national averages, with the FDIC reporting an average rate of 1.81% for 12-month CDs.

However, its no-penalty and step-up CDs have poor rates that really aren’t worth recommending. You can find higher rates with a regular savings account. You’re likely to get a 0.05% APY on those options, and the average rate on a savings account is 0.46% right now, while many of the best savings accounts have APYs well above 4% to 5%.

Compare Citi Bank to competitor rates

Narrow down top CDs by APY and minimum deposits to find the best one for your financial goals. Select Compare on up to four products to see their benefits side by side.

Name Product 6-month APY 1-year APY 5-year APY Minimum deposit to open
Crescent Bank CDs
Finder Rating: 4.8 / 5: ★★★★★
Crescent Bank CDs
N/A
4.85%
3.90%
$1,000
Earn competitive rates up to 4.85% APY (annual percentage yield) on terms ranging from 1 to 5 years. Pay $0 maintenance fees. Member FDIC.
Alliant Credit Union CDs
Finder Rating: 4.8 / 5: ★★★★★
Alliant Credit Union CDs
5.00%
5.15%
4.00%
$1,000
Lock in rates as high as 5.15% APY with a low $1,000 minimum deposit. Compounded monthly. FDIC insured.
Western Alliance Bank 12 months CDs through Raisin
Finder Rating: 4.7 / 5: ★★★★★
Western Alliance Bank 12 months CDs through Raisin
N/A
5.00%
N/A
$1
Get 5% APY on a 12 month CD, and earn an APY that’s higher than the national average. Pay no fees and just a $1 minimum deposit. FDIC insured.
Valley Direct Online CD
Finder Rating: 5 / 5: ★★★★★
Valley Direct Online CD
N/A
4.50%
N/A
$500
Earn 4.50% APY on a 12 month CD. FDIC insured per depositor, per account ownership category.
Quontic Bank CDs
Finder Rating: 5 / 5: ★★★★★
Quontic Bank CDs
5.05%
4.50%
4.30%
$500
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less. Member FDIC.
Ponce Bank CD through Raisin
Finder Rating: 4.9 / 5: ★★★★★
Ponce Bank CD through Raisin
4.00%
N/A
N/A
$1
Snag the highest APYs on the market for the shortest CD terms via Raisin. FDIC insured.
loading

CDs ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate CDs and share certificates on a scale ranging from one to five stars based on what matters most to you. We consider two factors equally when rating CDs: minimum deposits and annual percentage yields (APYs) relative to term length. If a bank requires a different minimum opening deposit depending on the chosen term, we rate the CD based on the average minimum deposit across all terms. And although some institutions offer CDs with terms ranging from one week to 20 years, we only consider term lengths the FDIC uses in its monthly updates on national rates.

Read the full methodology of how we rate CDs.

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Bethany Finder

Writer, Banking and Loans

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Go to site