Picture by Getty Photos; Illustration by Bankrate
Citibank gives 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 massive banks’ CDs usually have lackluster charges, Citi gives a number of CDs which can be price contemplating.
Take a look at Bankrate’s detailed evaluate of Citibank to learn the way they scored throughout deposits merchandise in comparison with different massive banks.
Citibank CD charges
There are a lot of totally different time period lengths for Citibank CDs with various charges. Curiosity earned on CDs with a time period size of 1 yr 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 yr, curiosity is paid month-to-month.
Along with customary fixed-rate CDs, Citibank additionally gives two different CD sorts: a Step Up CD and a No Penalty CD.
Right here’s a more in-depth have a look at Citibank’s CD merchandise.
Fastened-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 |
*Presently a featured charge. For the 12-month CD, balances underneath $100,000 earn 2.00 % APY and balances $100,000 and extra earn 3.00 % APY.
Word: Annual proportion yields (APYs) proven are as of April 5 and will fluctuate 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 April 5, and will fluctuate by area.
No Penalty CD
The No Penalty CD is a one-year time period CD possibility that means that you can 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 are usually not permitted.
For all balances, the 12-month no-penalty CD earns 0.05 % APY as of April 5, and will fluctuate by area.
How Citibank CD charges examine to top-yielding banks
Citibank’s energy on the subject of CDs is the number of phrases it gives, which makes it simple to begin a CD ladder. In any other case, the charges the financial institution gives are common, although some phrases provide very aggressive yields. Should you’re keen on exploring choices past department banking, you’ll find greater APYs at on-line banks and credit score unions. You could find greater APYs at on-line banks and credit score unions, in the event you’re keen on exploring choices past department banking.
Different financial savings choices at Citibank
Citibank additionally gives an online-only financial savings account that pays a charge that’s greater 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.
