Citibank Certificates of Deposit
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| APY (Annual Percentage Yield) | 0.05% - 0.25% |
| Minimum Opening Deposit | Starting at $500 |
| Certificate Term |
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Citibank Certificates of Deposit Review
Citibank Certificates of Deposit are offered by Citi®, a bank founded in 1812 and based in New York, NY. Citibank Certificates of Deposit are available in 50 states (and Washington, DC).
Key Takeaways
- Small selection of CD account types. Citibank CD only offers bump up and traditional CDs.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.25%, which is much higher than the national average for a CD account.
- $500 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
- Wide selection of CD terms. Citibank CD allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.
Pros & Cons of Citibank Certificates of Deposit
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Citibank Certificates of Deposit FAQ
Are CD from Citi® federally insured?
Yes, your Citi® CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #07213). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
What types of CDs does Citi® offer?
Citibank CD provides the following types of CDs.- Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CDs for another term.
- Bump-up CDs. Bump-up CDs allow you to increase the interest rate you earn on your savings if the going interest rates rise. These CDs are useful in a changing interest rate environment.
What rates does Citi® offer on its CDs?
Citibank CD offers an APY starting at 0.05% and ranging up to 0.25%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.
What terms does Citibank CD offer?
Citi® offers CD terms of the following lengths:| Description | |
|---|---|
| APY (Annual Percentage Yield) | 0.05% - 0.25% |
| 3-Month APY | 0.05% |
| 6-Month APY | 0.05% |
| 12-Month APY | 0.1% |
| 2-Year APY | 0.1% |
| 3-Year APY | 0.1% |
| 4-Year APY | 0.1% |
| 5-Year APY | 0.15% |
What is the minimum deposit to open a CD account with Citi®?
Citibank CD require a minimum deposit of $500 to open an account.
What is the grace period for Citibank CD?
There is a 7-day grace period for Citibank CD. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 7-day grace period. Note that the new CD rates probably won’t be the same as the original.
What types of fees, such as early withdrawal penalties, does Citi® charge?
Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the term ends.
Citi® does not charge an early withdrawal fee.
Contact
- Headquarters
-
388 Greenwich Street
New York, NY 10013 USA - (800) 374-9700
- Visit Site
- Email Support
Other Services by Citi®
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- Washington, DC
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
| Minimum Opening Deposit | Starting at $500 |
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