Earn 4.35% APY on your balance, but only in select states.
The Citi Accelerate Savings account is best for those who don't live near a Citi branch and want to take advantage of a high-yield savings account. It offers a competitive 4.35% APY that's higher than most competing accounts. But it's a far cry from a straightforward savings account. Signing up for a Citi Accelerate Savings account means you must also enroll in a Citi banking package, which comes with its own perks and drawbacks, including a potential monthly fee and the opportunity to earn rewards.
If you don't qualify for this account or it's not available in your area, the Citi Savings account may be your next best option. The APY tops out at a meager 0.12%, but you'll have the ability to earn Citi ThankYou Rewards and special perks depending on your account package.
finder.com's rating: 3.7 / 5.0
★★★★★
Citi now offers an online savings account with a competitive APY, called Citi Accelerate Savings. You'll get the security of signing on with a Big Four bank and practical tools to help manage your money. But there's a monthly service fee if you don't qualify for the fee waiver, and it's not available in every state or ZIP code.Open a Citi Accelerate Savings account in six steps:
You must meet general requirements to apply:
Gather personal and financial details that include:
When you open an account, you’ll choose from one of five Citi banking packages with varying monthly fees, waiver conditions, linked accounts and perks by state. All packages must have a linked Citi checking account to maintain balances and avoid the monthly fee.
| Package | Monthly fee | How to avoid fee | APY | Features |
|---|---|---|---|---|
| Basic Banking Package | $12 |
| 4.35% | Unlimited check-writing privileges |
| Citibank Account Package | $25 |
| 4.35% |
|
| Citi Priority Account Package | $30 |
| 4.35% |
|
| Citigold Account Package | $0, but to open you must keep at least $200,000 total across eligible linked accounts every month |
| 4.35% |
|
Watch out for potential drawbacks that can get in the way of leveraging your savings:
If you don’t live in an eligible state, you’ll want to keep looking. As always, compare your options when choosing a savings account.
After speaking with a Citi representative, we were informed that this account is only available in states that don’t have a large presence of Citi branches. Some Reddit users mention issues opening this account due to their proximity to a branch, but Citi did not mention anything about distances when we reached out for more details.
Enter your deposit amount into the table to see how much interest you could earn with Citi Accelerate Savings versus the competition.
There are several ways to access money in your Citi Accelerate Savings account.
Despite the fact that Citi is one of the four largest banks in the US, it doesn’t have many reviews or complaints online. As of June 2022, it has only 51 customer reviews on Trustpilot for a total 1.4 out of 5-star rating. The Better Business Bureau gives Citi an F rating for failing to respond to over 6,000 complaints in the last three years.
On Reddit, users say they’ve had issues with opening and funding the account, along with app issues. Other users say customer service can be difficult to get ahold of.
Get help with your account in four ways:
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★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.
Citi Accelerate Savings is not currently available on Finder
Have you considered UFB Secure Savings?
Score an impressive 5.25% APY, and pay $0 in monthly fees. No minimum deposit requirement. FDIC insured.
Peter Finder
Writer
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