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Citi®’s CitiBusiness savings options review

Earn up to 2.0% APY but expect to put down a minimum deposit.

If you’re looking to build business capital, check out Citi® offers three business savings products. But eligibility is restricted to in-person applicants and Citi®‘s branch network is limited.

What business savings products does Citi® offer?

There’s more than one way to build capital with Citi®‘s FDIC-insured business savings products:

  • CitiBusiness Savings Account. A business savings account with no minimum opening deposit and unlimited transfers between linked Citi® accounts.
  • CitiBusiness Insured Money Market Account. This account comes with tiered interest rates and unlimited monthly deposits but a minimum opening deposit is required.
  • CitiBusiness CDs. Terms up to 48 months are available with a $500 minimum deposit and up to 2.0% APY.

Eligible states

  • California
  • Connecticut
  • District of Columbia
  • Florida
  • Illinois
  • Maryland
  • New Jersey
  • Nevada
  • New York
  • Virginia

Benefits of CitiBusiness savings

Take advantage of FDIC-insured savings as well as the following:

  • Up to 2.0% APY. Rates with this provider vary but you’ll get the best return on a six-month CD with a $10,000 minimum deposit.
  • Accessibility. Keep your capital flowing with a savings or money market account, or lock in a higher rate on a CD term from one to 48 months.

What to watch out for

CitiBusiness savings includes the following drawbacks:

  • No online application. To apply, you’ll need to make an appointment at a local Citi® branch.
  • Minimum deposits. Besides the CitiBusiness Savings Account, all savings accounts require a minimum opening deposit and you can only access the 2.0% APY on CitiBusiness CDs after a $10,000 minimum deposit.
  • Limited availability. CitiBusiness savings products are only available to residents of California, Connecticut, District of Columbia, Florida, Illinois, Maryland, New Jersey, Nevada, New York and Virginia.

How do I open a CitiBusiness savings account?

The CitiBusiness savings account must be opened in-person at a branch. You can use the location finder on Citi’s website to find the branch nearest you.


To apply for a CitiBusiness account, you must meet the following requirements:

  • US citizen
  • At least 18 years old
  • Social Security number or tax identification number
  • Valid driver’s license or state ID
  • Resident of California, Connecticut, District of Columbia, Florida, Illinois, Maryland, New Jersey, Nevada, New York or Virginia

Required information

Have the following on hand before you apply:

  • Name and date of birth
  • Business address and details
  • Social Security or tax ID number
  • Two forms of government-issued IDs
  • Business registration certificate

Funding options

There are four ways to deposit money in your Citi business account:

  • Online transfer
  • Check
  • Cash
  • Money order

Bottom line

Citi®‘s big-bank reputation, selection of savings options and rates up to 2.0% APY make its saving accounts an attractive choice to build your business savings. But you’ll need to complete your application in person and Citi®‘s branch network is limited.

Shop business banking options with additional providers to secure a savings product that suits your business needs.

Frequently asked questions

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