Citibank CD Rates for December 2022

Think big banks don't offer higher-yielding CD rates? Citibank may change your mind.

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.

Citigroup logo with blue background

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: Annual Percentage Yields (APYs) shown are as of Dec. 9, 2022. 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.