Picture by Getty Photos; Illustration by Bankrate
Citibank affords certificates of deposit throughout all kinds of phrases not discovered at many banks. Clients have ample flexibility when selecting time period lengths, spanning three months to 5 years.
Although huge banks’ CDs typically have lackluster charges, Citi affords a number of CDs which might be price contemplating.
Try Bankrate’s detailed overview of Citibank to find out how they scored throughout deposits merchandise in comparison with different huge banks.
Citibank CD charges
There are numerous totally different time period lengths for Citibank CDs with various charges. Curiosity earned on CDs with a time period size of 1 12 months or much less is paid both month-to-month or on the finish of the time period. For CDs with a time period size higher than one 12 months, curiosity is paid month-to-month.
Along with commonplace fixed-rate CDs, Citibank additionally affords two different CD varieties: a Step Up CD and a No Penalty CD.
Right here’s a more in-depth take a look at Citibank’s CD merchandise.
Mounted-rate CDs
| Time period | APY | Minimal deposit |
|---|---|---|
| 3 months | 0.05% | $500 |
| 4 months | 0.05% | $500 |
| 5 months | 0.05% | $500 |
| 6 months* | 4.75% | $500 |
| 7 months | 0.05% | $500 |
| 8 months | 0.05% | $500 |
| 9 months* | 3.75% | $500 |
| 10 months | 0.05% | $500 |
| 11 months | 0.05% | $500 |
| 12 months* | 2.00% | $500 |
| 12 months* | 3.00% | $100,000 |
| 13 months | 0.10% | $500 |
| 14 months | 0.10% | $500 |
| 15 months* | 4.00% | $500 |
| 18 months | 2.00% | $500 |
| 24 months | 2.00% | $500 |
| 30 months | 0.10% | $500 |
| 36 months | 2.00% | $500 |
| 48 months | 2.00% | $500 |
| 60 months | 2.00% | $500 |
*At the moment a featured charge. For the 12-month CD, balances beneath $100,000 earn 2.00 % APY and balances $100,000 and extra earn 3.00 % APY.
Be aware: Annual share yields (APYs) proven are as of Could 9 and should range by area and deposit quantity for some merchandise.
Step Up CD
The Step Up CD is a 30-month time period CD that accrues curiosity at various charges relying on what interval the CD is in. The charges for every interval are:
- 0.05 % for the primary one to 10 months.
- 0.1 % for 11 to twenty months.
- 0.15 % for 21 to 30 months.
The composite APY for the Step Up CD’s complete time period size is 0.1 % as of Could 9, and should range by area.
No Penalty CD
The No Penalty CD is a one-year time period CD possibility that permits you to withdraw the total stability earlier than the tip of the time period. Withdrawals from the No Penalty CD should be made no sooner than six days after the $500 minimal deposit is made into the account, and partial withdrawals will not be permitted.
For all balances, the 12-month no-penalty CD earns 0.05 % APY as of Could 9, and should range by area.
How Citibank CD charges examine to top-yielding banks
Citibank’s energy in terms of CDs is the number of phrases it affords, which makes it simple to begin a CD ladder. In any other case, the charges the financial institution affords are common, although some phrases provide very aggressive yields. Should you’re excited about exploring choices past department banking, you will discover increased APYs at on-line banks and credit score unions. Yow will discover increased APYs at on-line banks and credit score unions, for those who’re excited about exploring choices past department banking.
Different financial savings choices at Citibank
Citibank additionally affords an online-only financial savings account that pays a charge that’s increased than most of its CDs, nevertheless it’s unavailable in choose markets. Moreover, the financial institution’s financial savings accounts include quite a lot of package deal choices.
