Citibank Certificates of Deposit Review

Citibank Certificates of Deposit is offered by Citibank, a bank founded in 1812 and based in New York, NY. Citibank Certificates of Deposit is available in 50 states (and Washington, DC).

• Small selection of CD account types. Citibank CD only offers traditional and bump up CDs.
• Very high 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.

Are cd accounts from Citibank federally insured?

Yes, your Citibank cd accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). 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 Citibank offer?

• Traditional CDs. These CDs pay a fixed interest rate i you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or rolling over the CD 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 CD rates does Citibank 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 is the minimum deposit to open a CD account with Citibank?

Citibank CD requires 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 Citibank CD 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 CD term ends.

Citibank does not charge an early withdrawal fee.