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Citi Savings account review

Has a low APY, but other perks may be worth it depending on your account package.’s rating: 2.9 / 5.0


The Citi Savings account is available through five different banking packages that determine your interest rate, benefits and more. But you’ll need to maintain a $500 monthly balance to avoid the monthly fee.

Up to 0.06%


$4.50 per month



Minimum deposit to open


Annual percentage yield (APY)0.06% on balances of $25,000+
0.04% on balances of $0 to $24,999.99
Fee$4.50 per month
To waive the feeMaintain an average monthly balance of $500 (for Basic or Access Account packages)
Minimum deposit to open$0
Minimum balance to earn interest$0
Interest compoundingDaily
Monthly transaction limit6
More info

More Info


Review by

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.

Expert review

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 Citibank 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.

How do I open a Citibank savings account?

You can open a Citi Savings account online, by phone or at a branch, and it only takes about 10 minutes:


  1. Go to the provider’s site and follow the steps to apply.
  2. From the Citibank website, click Banking.
  3. Scroll down and click Savings.
  4. Scroll down to Citi Savings and click See Details.
  5. Scroll down to the package section and click Apply Now under the option that best suits your needs.
  6. Enter your personal information, agree to the terms, enter your signature, then click Next.
  7. Enter your employment information, then click Next.
  8. Enter your banking info, fund your account, then Submit your application.

By phone
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:

  • 18 years old or older
  • US citizen or resident alien
  • US residential address
  • Social Security number

Required information

Whether you apply online, by phone or at a branch, you’ll require the following information:

  • Name
  • Date of birth
  • Address
  • Social Security number
  • Employment information

Citibank savings account packages

When you apply for this account, you’ll choose a banking package that may come with a linked checking account. Requirements, interest rates and other features will vary depending on which option you choose:

  • Access Account. A no-frills, standalone savings account with low fees that can be avoided if you open a linked checking account and complete the qualifying activities.
  • Basic Banking. A basic savings account that can be linked to a checking account with unlimited check-writing to waive the monthly service fees.
  • The Citibank Account. A standalone savings account with a higher monthly fee but the potential to earn higher interest rates and avoid fees when using non-citi ATMs.
  • Citi Priority. Get both a savings and checking account, along with investment resources, guidance from a Personal Wealth Management Advisor over the phone and more.
  • Citigold. A package that includes a savings account, a checking account, a dedicated team to assist your banking needs, wealth management services and more.

Which Citibank account package is worth it?

There are five Citibank account packages, but the Citibank Account tier seems to be the most worth it. It’s the lowest tier required to get access to a free checkbook, an interest-bearing checking account and Citi ThankYou rewards. The $25 monthly fee is waived when you maintain a minimum $10,000 balance across all linked Citibank deposit, retirement and investment accounts.

What are the benefits of the Citi Savings account?

This savings account is protected up to $250,000 and gives you access to more than 2,400 ATMs along with these other benefits:

  • No initial deposit requirement. Open a new account with as little as you want.
  • Auto save. Set up a plan to automatically transfers money from your checking account into your savings.
  • No minimum to earn interest. Although you must maintain a minimum $500 balance to waive the monthly fee, Citibank’s savings account has no minimum balance to earn interest.
  • Rewards. Earn Citi ThankYou Rewards points when you link a qualifying account.

Citi ThankYou Rewards: How it works

When you opt in to Citi ThankYou Rewards, you’ll earn points for using Auto Save, linking your Citibank 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 Citibank Account, Citi Priority or Citigold package to qualify.

What should I look out for?

While the Citi Savings account is limited to six outgoing transactions a month like most savings accounts, plus it has these drawbacks:

  • Monthly service fee. You’ll be charged a $4.50 monthly service fee unless you maintain an average monthly balance of $500.
  • Low interest rates. This account pays a paltry 0.04% to 0.06% APY for Basic or Access Account packages. Meanwhile, competing banks have APYs of 0.5% or more.

You can use our guide to savings accounts to find even more options that might better fit your financial situation.

Compare with other savings accounts

Enter your deposit amount to see how much you could earn with CitiBank versus other savings accounts. You can also sort the table by APYs, minimum deposit to open and more.

Name Product Annual percentage yield (APY) Fee Minimum deposit to open
Aspiration Spend & Save Account
Finder Rating: 4.2 / 5: ★★★★★
Aspiration Spend & Save Account
$0 per month or $7.99 per month for Aspiration Plus ($5.99 per month if you pay annually)
Deposits are fossil fuel-free. A spend and save combo account with unlimited cash back rewards and deposits insured by the FDIC and a $100 bonus when you spend $1,000 in your first 60 days.
BlockFi Interest Account
BlockFi Interest Account
Up to 8.25%
Score up to 8.25% APY with this free crypto-interest account. Not available in New York and not FDIC insured.
Axos Bank High Yield Savings
Finder Rating: 4 / 5: ★★★★★
Axos Bank High Yield Savings
No monthly maintenance fees. No minimum balance requirements. Interest compounded daily.
Gemini Earn
Gemini Earn
Up to 8.05%
Watch your cryptocurrency earn up to 8.05% APY with this nationwide account. Not FDIC insured.
American Express® High Yield Savings
Finder Rating: 4.6 / 5: ★★★★★
American Express® High Yield Savings
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
Nexo Earn
Nexo Earn
Up to 12.00%
This account accrues up to 12% APY on crypto, and interest gets deposited into your account on a daily basis. Not FDIC insured.

Compare up to 4 providers

How do I deposit or withdraw money?

Since the Citi Savings account comes with a checking account, there are a number of ways to access your money:


  • ATM or branch
  • Direct deposit
  • Online or wire transfer
  • Mail
  • Mobile deposit


  • ATM or branch
  • Check
  • Online or wire transfer
  • Bill pay

How can I get in touch with customer service?

  • By phone: 800-374-9700
  • Live chat: Log in to your account to chat
  • On Twitter: @Citibank

Frequently asked questions

Savings account ratings

★★★★★ — Excellent

★★★★★ — 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.

Read the full methodology of how we rate savings accounts.

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