Citibank, the fourth largest bank in the US, offers three types of certificates of deposit, with featured rate specials for a few CD terms that rival the best rates from both brick-and-mortar and online-only banks. Citi’s fixed-rate, step-up and no-penalty CDs each offer competitive rate options that are rare among the big brick-and-mortar banks.
Terms for Citibank’s CDs range from three to 60 months (five years). All its CDs can be purchased with a low minimum deposit of $500. An early withdrawal penalty of 90 days of simple interest will be imposed on terms of one year or less. For CDs with terms greater than one year, the early withdrawal penalty is 180 days of simple interest.
Citibank CDs: At a glance
| CD type | Fixed-rate | Step-up | No-penalty |
|---|---|---|---|
| Minimum deposit | $500 | $500 | $500 |
| Term | Three to 60 months | 30 months | 12 months |
| Compounding schedule | Monthly | Monthly | Monthly |
| Early withdrawal penalty | 90 to 180 days of interest | 180 days of interest | 90 days of interest |
| Grace period | Seven days | Seven days | Seven days |
Citibank’s CD rates
Citibank offers three featured rates for its three-, 12- and 18-month fixed-rate CDs. Its no-penalty CD option is competitive compared with similar no-penalty CDs offered at other banks. With its reasonable $500 minimum deposit, Citibank provides many competitive options for a wide range of savers.
However, not all CD terms are competitive. Ten- and 11-month fixed-rate CDs, for example, each offer a paltry 0.05% annual percentage yield. (To compare top-yielding CD rates at other major banks and credit unions, check out CNET’s list of best CD rates.)
Fixed-rate CD
| CD term | APY | Minimum deposit |
|---|---|---|
| 3 months | 3.25% | $500 |
| 4 to 5 months | 0.05% | $500 |
| 6 months | 1.10% | $500 |
| 7 to 8 months | 0.05% | $500 |
| 9 months | 1.10% | $500 |
| 10 to 11 months | 0.05% | $500 |
| 12 months | 4.15% | $500 |
| 13 to 15 months | 0.10% | $500 |
| 18 months | 4.15% | $500 |
| 24 months | 2.00% | $500 |
| 30 months | 0.10% | $500 |
| 36 to 60 months | 2.00% | $500 |
Step-up CD
| CD term | APY | Minimum deposit |
|---|---|---|
| 30 months | 0.10% | $500 |
No-penalty CD
| CD term | APY | Minimum deposit |
|---|---|---|
| 12 months | 3.10% | $500 |
Note: CNET’s editorial team updates this information regularly, typically biweekly. APYs may have changed since they were last updated and may vary by region for some products.
How much can you earn with Citibank CDs?
The following table shows how much interest you can earn across a variety of Citibank CDs if you invest $10,000 in a CD that compounds monthly.
Interest earned on a $10,000 CD
| CD term and type | APY | Interest earned |
|---|---|---|
| Three-month fixed-rate CD | 3.25% | $80.28 |
| 12-month fixed-rate CD | 4.15% | $415 |
| 18-month fixed-rate CD | 4.15% | $629 |
| 30-month step-up CD | 0.10% | $25 |
| 12-month no-penalty CD | 3.10% | $310 |
How do Citibank’s CD rates compare?
Citibank offers a variety of CDs with competitive rates. The bank also provides the ability to ladder its CDs. Citi’s featured rates, such as its 1-year CD, provide a competitive option from a large bank that provides a wide range of services and products. As of Dec. 9, 2022, Citibank’s one-year fixed-rate CD has an APY of 4.15%, while the same CD term from CFG Bank, for example, earns a 4.65% APY. Citibank may lag compared with its competition, but many of its CD rates continue to keep pace with other major banks.
Additional savings options at Citibank
The Citi High-Yield Savings account earns a competitive 3.25% APY which is uncommon among big banks. Account holders may be charged a $10 monthly maintenance fee without waivers, such as making one direct deposit per month or maintaining a $1,500 balance.
