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The Citi Savings account is available through five different banking packages that determine your interest rate, benefits and more. But you may need to maintain a monthly balance to avoid the monthly fee.
$4.50 per month
Minimum deposit to open
|Annual percentage yield (APY)||0.12% on balances of + Only with their Citigold Account Package|
|Fee||$4.50 per month|
|To waive the fee||Maintain an average monthly balance of $500 (for Basic or Access Account packages)|
|Minimum deposit to open||$0|
|Minimum balance to earn interest||$0|
|Monthly transaction limit||6|
Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.
The Citi Savings account rewards you with different perks depending on which account package you qualify for. Those perks can range from free withdrawals at non-network ATMs and free checks to an interest-bearing checking account and enrollment in Citi’s ThankYou Rewards program.
But the deposit requirements for some of these tiers may be too high a barrier to entry for those just starting to work on their savings. Plus, the interest rates are among the lowest in the industry.
If you’re a loyal Citi customer, keeping all your accounts in-house and going with this savings account may make sense. But if high APYs and low fees are what you’re after, you’ll earn much more with a regular high-yield savings account.
You can open a Citi Savings account online, by phone or at a branch, and it only takes about 10 minutes:
If you’d prefer to speak with a representative, you can open an account by phone at 800-745-1534.
At a branch
Make an appointment or visit a branch to open an account in person.
In order to open this account, you’ll need to meet a few eligibility requirements:
Whether you apply online, by phone or at a branch, you’ll require the following information:
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||4.05%||Unlimited check-writing privileges|
|Citibank Account Package||$25||4.05%|
|Citi Priority Account Package||$30||4.05%|
|Citigold Account Package||$0, but to open you must keep at least $200,000 total across eligible linked accounts every month||0.12%|
This savings account is protected up to $250,000 and gives you access to more than 2,400 ATMs along with these other benefits:
When you opt into Citi ThankYou Rewards, you’ll earn points for using Auto Save, linking your Citi loans to your checking account, using direct deposit and more. Then, you can redeem those points for cash, loan and mortgage payments, discounts at retailers, gift cards, travel rewards and other perks. But you must have a Citi Account, Citi Priority or Citigold package to qualify.
While the Citi Savings account is limited to six outgoing transactions a month like most savings accounts, plus it has these drawbacks:
You can use our guide to savings accounts to find even more options that might better fit your financial situation.
Enter your deposit amount to see how much you could earn with Citi versus other savings accounts. You can also sort the table by APYs, minimum deposit to open and more.
Since the Citi Savings account comes with a checking account, there are a number of ways to access your money:
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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 Savings is not currently available on Finder
Have you considered SoFi Checking and Savings?
Earn up to 4.20% APY on savings balances with direct deposit, and 1.20% APY on checking balances. Members without direct depost will earn 1.20% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Earn up to $2M of FDIC insurance through a network of participating banks.
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