Citibank savings account rates

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After many years of low returns, yields for parking your cash in a financial savings account are lastly getting a lift, although this isn’t true for each financial institution.

Citibank, the retail banking division of Citigroup, gives a wide range of financial savings accounts for purchasers with totally different objectives. Most of its accounts nonetheless provide paltry annual share yields (APYs), however Citibank now gives a high-yield financial savings choice that could be value trying into.

Citibank earned an total Bankrate rating of 4.5 out of 5 and a score of 4.7 out of 5 for financial savings accounts.

Citibank financial savings charges

Citibank financial savings charges rely upon the kind of account, of which there are lots of to select from.

The Speed up Financial savings account is Citibank’s high-yield choice that have to be opened on-line or by way of the Citibank cellular app. The APY is similar for all balances, and the account isn’t obtainable in some markets.

Right here’s a more in-depth take a look at Citibank’s Speed up Financial savings Account:

Account title APY Minimal deposit
Citi’s Speed up Financial savings account 3.85% $0

Outdoors of Citibank’s Speed up Financial savings Account, yields at Citibank are fairly low.

Citibank’s Entry Account, one in every of its commonplace financial savings accounts, is a checkless account that gives a low APY and comes with a month-to-month service payment. If the account isn’t linked to a Citibank checking account, you possibly can waive the $4.50 month-to-month service payment whenever you keep a minimal steadiness of $500.

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Right here’s a more in-depth take a look at the Entry Account Package deal.

Account title APY Minimal deposit
Citi Financial savings 0.05% $0

Subsequent is the Citibank Account Package deal, which lets clients hyperlink different deposit accounts, together with retirement and funding accounts.

Clients should keep a minimal steadiness of $10,000 throughout all eligible linked accounts to keep away from a $25 month-to-month payment. This account gives a paltry APY however does include some additional perks, together with Citi fee-free withdrawals from non-Citibank ATMs.

Right here’s a more in-depth take a look at the Citibank Account Package deal.

Account title APY Minimal deposit
Citi Financial savings 0.05% $0

The Citi Precedence account is a premium bundle that comes with a linked checking account and consists of enhanced advantages, together with funding assets from Citi Private Wealth Administration and fee-free withdrawals from non-Citibank ATMs.

The month-to-month payment is $30, although it’s waived with a mixed minimal steadiness of $30,000 throughout all eligible accounts.

Right here’s a more in-depth take a look at the Citi Precedence Account Package deal.

Account title APY Minimal deposit for APY
Citi Financial savings 0.10% Beneath $10,000
Citi Financial savings 0.10% $10,000-$24,999.99
Citi Financial savings 0.10% $25,000-$49,999.99
Citi Financial savings 0.10% $50,000-$99,999.99
Citi Financial savings 0.10% $100,000-$499,999.99
Citi Financial savings 0.10% $500,000-$999,999.99
Citi Financial savings 0.10% $1,000,000 or extra

Lastly, the Citigold Account Package deal, which earns the best APY exterior of the Accelerated Financial savings account, is a premium bundle that requires a mixed common month-to-month steadiness of at the least $200,000 throughout linked deposit, retirement and funding accounts. The account comes with out month-to-month service charges.

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Right here’s a more in-depth take a look at the usual charges for the Citigold Account Package deal.

Account title APY Minimal deposit for APY
Citi Financial savings 0.12% Beneath $10,000
Citi Financial savings 0.12% $10,000-$24,999.99
Citi Financial savings 0.12% $25,000-$49,999.99
Citi Financial savings 0.12% $50,000-$99,999.99
Citi Financial savings 0.12% $100,000-$499,999.99
Citi Financial savings 0.12% $500,000-$999,999.99
Citi Financial savings 0.12% $1 million or extra

Observe: Annual share yields (APYs) proven are as of April 16, 2023, and should differ by area for some merchandise.

How Citigroup financial savings charges examine to top-yielding banks

Citi’s Speed up Financial savings account is a stable alternative in case you’re searching for a aggressive yield from a giant financial institution, however it’s not obtainable in:

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

Savers in these states who need aggressive yields and are snug with web banking might need to think about a web-based financial institution. Bask Financial institution and Bread Financial savings are among the many digital banks providing a few of the highest charges.

Different financial savings choices at Citibank

Citibank’s Speed up Financial savings account might be the financial institution’s best choice for savers who reside in states the place it’s obtainable. Citi additionally gives a variety of certificates of deposit (CDs) with phrases from three months to 5 years.

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