Citi CD rates and review
- 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
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 term | APY | Minimum deposit |
|---|---|---|
| 3 months | 0.05% | $500 |
| 4 months | 0.05% | $500 |
| 5 months | 0.05% | $500 |
| 6 months | 1.1% | $500 |
| 7 months | 0.05% | $500 |
| 8 months | 0.05% | $500 |
| 9 months | 4.3% | $500 |
| 10 months | 0.05% | $500 |
| 11 months |
| $500 |
| 12 months | 4.3% | $500 |
| 13 months | 0.1% | $500 |
| 14 months | 0.1% | $500 |
| 15 months |
| $500 |
| 18 months | 2.5% | $500 |
| 24 months | 2.5% | $500 |
| 30 months | 0.1% | $500 |
| 3 years | 2.5% | $500 |
| 4 years | 2.5% | $500 |
| 5 years | 2.5% | $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 Benefits | Citi Priority | Citigold | |
|---|---|---|---|
| Balance required | $0 to $29,999.99 | $30,000 to $199,999.99 | To 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 is | Details | How it compares |
|---|---|---|
| Minimum deposit | $500 | Less than most competitors, which often require $1,000 or more. |
| Term range | 1 month to 5 years | This is pretty standard, though some competitors offer terms as long as 10 years. |
| Early withdrawal penalties | Terms 1 year or less: 90 days of simple interest Terms 1 year or more: 180 days of simple interest | Standard amongst most competitors. |
| Grace period | 7 days after the maturity date | Most 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.
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.
Citi CD is not currently available on Finder
Have you considered Crescent Bank CDs?
Earn competitive rates up to 4.90% APY (annual percentage yield) on terms ranging from 1 to 5 years. Pay $0 maintenance fees. Member FDIC.
- Up to 4.90% APY
- $0 maintenance fees
- $1,000 opening deposit
- Terms from 1 to 5 years
Your reviews
Bethany Finder
Writer, Banking and Loans
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