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CD rates
Citibank doesn’t pay higher rates on higher balances. However, the minimum deposit to open a CD varies by state.
The minimum deposit is $500 in most of the US. However, you’ll need $1,000 in California and Nevada, and $2,500 in DC, Florida, Maryland, and Virginia.
Citibank Fixed Rate CDs rates
TermAPY3 months0.05%4 months0.05%5 months0.05%6 months1.10%7 months0.05%8 months0.05%9 months1.10%10 months0.05%11 months0.05%1 year2.00%13 months0.10%14 months0.10%15 months0.10%18 months2.35%2 years1.01%30 months0.10%3 years1.01%4 years1.01%5 years1.01%
Citibank Step Up CD rates
Citibank offers one term length for its Step Up CD: 30 months. This CD pays 0.10% APY.
Citibank No Penalty CD rates
Citibank offers one term length for its No Penalty CD: 1 year. This CD pays 1.50% APY.
Citibank has three types of CDs, each with a different purpose:
Citibank Fixed Rate CDs: Terms range from three months to five years. When you open a CD, the rate is locked in until the CD matures.Citibank Step Up CD: This 30-month CD increases your rate every 10 months. Currently, the Step Up CD rate is higher than the Fixed Rate CD rate for a 30-month term, plus your rate will increase over time. However, if you want a CD with a term length other than 30 months, you’ll need to choose another type of CD.Citibank No Penalty CD: Fixed Rate CDs and Step Up CDs charge a fee if you withdraw funds before your term ends. With a 1-year No Penalty CD, you can withdraw early without being penalized. Keep in mind, though, that your only option is a 1-year term, and the rate is slightly lower than the 1-year rate with a Fixed Rate CD.
How Citibank compare to competitors
We’ve compared Citibank CD rates with rates at two banks with branches in many of the same states: Bank of America and Capital One.
Citi
Bank of America
Capital One 360
Editor’s Rating (out of 5)
3.25
Editor’s Rating (out of 5)
3.50
Editor’s Rating (out of 5)
4.50
APY
0.05% – 0.40% APY
APY
0.03% to 0.05% APY
APY
0.25% to 1.00% APY
Minimum deposit
$500, $1,000, or $2,500
Minimum deposit
$1,000 or $10,000
Minimum deposit
$0
Citibank CD rates vs. Bank of America CD rates
You’ll earn higher rates with Citibank than with Bank of America.
Bank of America’s highest APY is 0.05%, and that’s only for the Bank of America Featured CD, which requires a $10,000 deposit and offers terms between seven and 37 months. For terms between three and 60 months, Citibank pays more than 0.05% APY.
Citibank CD rates vs. Capital One CD rates
Capital One 360 pays significantly higher rates than Citibank overall. Capital One is technically considered an online bank, but it has over 470 branches in eight states and Washington DC, so you can have a hybrid in-person/online banking experience.
As an added bonus, Capital One doesn’t have a minimum deposit for CDs, so you don’t need a lot of money to start saving.