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Citi CD Rates Review
Citi pays higher rates than the average CD. The minimum deposit for a Citi Fixed Rate CD is $500. You can still find more competitive CD rates listed in our best CD rates guide, though.
$500 to $2,500 opening deposit, depending on your state of residence
Must visit a branch to deposit more than $10,000
BBB gives Citi an F in trustworthiness
Terms ranging from 3 months to 5 years
Early withdrawal penalties ranging from 90 to 180 days interest
Earn 1.10% APY on a 6-month CD; Earn 4.05% to 4.75% APY on a 9-month; Earn 2.00% to 3.00% APY on an 11-month CD; Earn 4.05% APY on an 1-year CD or 18-month CD
Earn 0.05% APY on other CD terms between 3 months and 10 months; Earn 0.10% APY on other CD terms between 13 months and 15 months and 30 months; Earn 2.50% APY on other CD terms between 2 years and 5 years
Earn 0.05% APY during your first 10 months, 0.10% APY for months 11 through 20, and 0.15% APY on months 21 though 30
For CD terms of 1 year or greater, the early withdrawal penalty is 180 days of simple interest
Interest compounded daily and deposited monthly
Read our review
Citi has three types of CDs, each with a different purpose:
Citi Fixed Rate CD: Terms range from three months to five years. When you open a CD, the rate is locked in until the CD matures.
Citi Step Up CD This 30-month CD increases your rate every 10 months. Currently, the Step Up CD rate is higher than the Fixed Rate CD rate for a 30-month term, plus your rate will increase over time. However, if you want a CD with a term length other than 30 months, you’ll need to choose another type of CD.
Citi No Penalty CD: Fixed Rate CDs and Step Up CDs charge a fee if you withdraw funds before your term ends. With a 1-year No Penalty CD, you can withdraw early without being penalized. Keep in mind, though, that your only option is a 1-year term, and the rate is slightly lower than the 1-year rate with a Fixed Rate CD.
Citi CDs FAQs
Are Citi CDs a good investment?
Citi might be worth considering if you are looking for CDs that pay more than the average and have a minimum of $500. If you plan on opening multiple products at the same financial institution, Citi also may be a good choice. Citi has a variety of bank accounts, credit cards, and loan options.
What is the minimum opening deposit for a Citi CD?
Citi Fixed Rate CDs, Step Up CDs, and No Penalty CDs require a minimum opening deposit of $500.
Are Citi CDs FDIC-insured?
Yes, Citi CDs are FDIC-insured for up to $250,000 per depositor.
Methodology: How We Reviewed Citi CDs
We rate bank accounts on a scale from zero to five stars. For our Citi CD review, we used a CD methodology that looks at interest rates, minimum opening deposits, early withdrawal penalties, CD variety, customer support availability, mobile app ratings, and ethics of the company.
How Citi CDs Compare
We’ve compared Citi CD rates with rates at two banks with branches in many of the same states: Bank of America CDs and Capital One CDs.
Both Citi and Bank of America pay more than the average CD for a variety of terms. The best option for you may ultimately depend on which term you’ll like to open and how much money you plan to deposit.
For example, a 9-month Citi Fixed Rate CD offers 4.05% APY for balances under $100,000 and 4.75% APY for balances of $100,000 or more.
Bank of America’s highest APY is for a 7-month Bank of America Featured CD. You’ll need a minimum deposit of $100,000 or more to get the highest CD rate — 4.50% APY. You’ll get 4.20% APY for balances under $100,000. Bank of America also offers Fixed Rate CDs if you’re looking for more term options. Its 90 to 179-day terms also pay solid CD rates.
Citi CD Rates vs. Capital One CD Rates
Capital One 360 pays comparables rates to Citi. The best choice for you may hinge on which term you’d like to open.
As an added bonus, Capital One doesn’t have a minimum deposit for CDs, so you don’t need a lot of money to start saving.
Laura Grace Tarpley, CEPF
Personal Finance Reviews Editor
Laura Grace Tarpley (she/her) is a personal finance reviews senior editor at Insider. She oversees coverage about mortgage rates, refinance rates, lenders, bank accounts, investing, retirement , and borrowing and savings tips for Personal Finance Insider. She was a writer and editor for Insider’s “The Road to Home” series, which won a Silver award from the National Associate of Real Estate Editors. She is also a Certified Educator in Personal Finance (CEPF). She has written about personal finance for seven years. Before joining the Insider team, she was a freelance finance writer for companies like SoFi and The Penny Hoarder, as well as an editor at FluentU. You can reach Laura Grace at email@example.com. Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services »
Evelyn He is a compliance associate at Insider who supports the Personal Finance Insider team. Personal Finance Insider is Insider’s personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that Insider readers already know and love. The compliance team’s mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team. Before joining Insider, she served in various legal and compliance roles in different industries, including the legal and pharmaceutical industries. Evelyn obtained her M.S. degree in Marketing at Boston University in 2022. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. She has also completed MBA business law courses while working on her Bachelor of Business Administration in Management at the University of Massachusetts, Amherst. Outside of work, she enjoys spending time with her 14-year-old Shih Tzu named Money, and her 4-year-old Bichon named Tibber.
Sophia Acevedo, CEPF
Sophia Acevedo is a banking reporter at Insider. She covers bank reviews, banking guides, and banking and savings articles for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF). Sophia joined Insider in July 2021 and is an alumna of California State University Fullerton where she studied journalism and minored in political science. She is based in Los Angeles. You can reach out to her on Twitter at @sophieacvdo or email firstname.lastname@example.org. Read more about how Personal Finance Insider chooses, rates, and covers financial products and services >> Below are links to some of her most popular stories:
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