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Citi CD Rates for June 2024

Citi Bank offers the convenience of in-person banking, but most of its rates are well below the national average.

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Citi offers three types of certificates of deposit, with fixed rates ranging from six months to five years. But not all of its terms have competitive annual percentage yields, or APYs, and there’s a $500 minimum deposit requirement to open a CD.

If you already bank with Citi or live near a branch, its promotional rate CDs can help you earn a high return without sacrificing in-person assistance. But its featured rate CDs -- including its competitive 4.75% APY for a seven-month term -- may vary depending on where you live. Rates for other fixed-rate CDs are less compelling, falling between 0.05% and 4%, depending on your term and deposit.

In addition to its standard fixed-rate CDs, Citibank also offers specialty CDs, including step-up and no-penalty CDs -- but these options offer a paltry return compared with other banks.

Citi CDs: At a glance

CD typeMinimum depositTermCompounding scheduleEarly withdrawal penaltyGrace period
Fixed-rate$500Three to 60 monthsDaily90 to 180 days of interestSeven days
Step-up$50030 monthsDaily180 days of interestSeven days
No-penalty$50012 monthsDaily90 days of interestSeven days
As of March 19, 2024.

Citi’s fixed CD rates

CD termAPY
3-month0.05%
4-month0.05%
5-month0.05%
6-month0.05%
7-month4.75%
8-month0.05%
9-month3.75%
10-month0.05%
11-month0.05%
1-year 2.75% – 3.75%*
13-month 0.10%
14-month0.10%
15-month4.00%
18-month2.00%
2-year2.00%
30-month0.10%
3-year 2.00%
4-year2.00%
5-year2.00%
Rates as of March 19, 2024. *Your APY depends on your balance

Citi’s step-up CD rates

Citi offers one step-up CD with a 30-month term that earns a composite APY of 0.10%. During months 1 through 10, it earns 0.05% APY, then 0.10% APY during months 11 through 20 and 0.15% APY during months 21 through 30.

Citi’s no-penalty CD rate

Citi offers a 12-month no-penalty CD, which allows you to withdraw your money before the term ends free of charge. You will have to leave your money in the CD for at least the first six days after opening your account, however; otherwise Citi will charge an early withdrawal fee.

CD termAPYMinimum deposit
12 months0.05%$500
Rates as of March 19, 2024.

How much can you earn with Citi CDs? 

The following table shows how much interest you can earn across a variety of Citi CDs if you invest $1,000 in a CD that compounds monthly.

CD term and typeAPYInterest earned
3-month fixed-rate CD0.05%$0.12
7-month fixed-rate CD4.75%$27.44
9-month fixed-rate CD3.75%$28.00
1-year fixed-rate CD2.75%$27.50
5-year fixed-rate CD2.00%$104.08
Rates as of March 19, 2024. CNET calculates interest earned based on an annual compounding schedule, though some banks compound interest more frequently. Because Citi compounds daily, you may earn a slightly higher return.

How do Citi’s CD rates compare?

Citi offers a few competitive CD terms, but you can find higher rates elsewhere. Here’s a quick look at how Citi compares to Chase, Synchrony and Marcus by Goldman Sachs:

CD termCitiChase* Relationship RateSynchronyMarcus by Goldman Sachs
6-month0.05%3.00%4.80%4.90%
1-year2.75% – 3.75%2.00%4.90%5.00%
3-year2.00%2.50%4.15%4.15%
5-year2.00%2.50%4.00%4.00%
*Chase’s relationship rates apply if you have a linked checking account and may vary by zip code. Rates as of March 19, 2024.

Additional savings options at Citi

Citi has a high-yield savings account that offers 4.45% APY on your savings in select zip codes, which is on par with other high-yield savings accounts. However, there are a few requirements to note. Citi charges a $4.50 monthly service fee, but you won’t be charged a monthly service fee for the first three months after account opening. You can waive it moving forward if you have a Citi checking account or maintain a $500 average monthly balance. If you qualify for a Citi relationship tier (the lowest tier requires a monthly balance of $30,000), you won’t have to worry about a monthly fee. Lastly, you may not qualify for this rate, depending on where you live.

Should you open a CD at Citi?

If you’re looking for a short-term CD like a seven-month or nine-month option, Citi offers competitive rates with a lower minimum deposit requirement. But if you’re looking for a longer-term option or want to build a CD ladder, you can earn a better return at other online banks and credit unions.

If you’re not sure that you want to lock up your money for a set term, a high-yield savings account may make more sense. If you don’t qualify for Citi’s high-yield savings account, there are other banks with high-yield savings accounts offering similar or higher APYs.

Dashia is a staff editor for CNET Money who covers all angles of personal finance, including credit cards and banking. From reviews to news coverage, she aims to help readers make more informed decisions about their money. Dashia was previously a staff writer at NextAdvisor, where she covered credit cards, taxes, banking B2B payments. She has also written about safety, home automation, technology and fintech.
Toni Husbands is a staff writer with CNET Money who enjoys exploring topics that promote financial wellness. She began writing about personal finance to document her experience paying off $107,000 of debt, which is detailed in her book, The Great Debt Dump. Previously, she contributed as a freelance writer for websites, including CreditCards.com, Centsai and Wisebread. She was also a regular contributor to Business AM TV, and her work has been featured on Yahoo News. Being a part-time real estate investor and amateur gardener also brings her joy.
Liliana Hall is a writer for CNET Money covering banking, credit cards and mortgages. Previously, she wrote about personal credit for Bankrate and CreditCards.com. She is passionate about providing accessible content to enhance financial literacy. She graduated from the University of Texas at Austin with a bachelor's degree in journalism, and has worked in the newsrooms of KUT and the Austin Chronicle. When not working, she is probably paddle boarding, hopping on a flight or reading for her book club.
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