Citibank has been a household name for generations. They first opened their doors back in 1812, originally as the City bank of New York and today they are the 4th largest bank in the country by asset size with roughly $2.42 trillion in total.
On the savings side, Citibank has a full product suite of FDIC-insured deposit accounts with both fixed and variable interest rates.
For CDs (certificates of deposit), Citibank has:
- 19 standard term CDs
- 2 promotional CDs, and
- 16 IRA CDs
Most of their CD rates are sitting at or below the national average for each respective term. To see if Citibank’s CDs are right for you, continue reading our review below.
Citibank CD Rates + Account Details
Citibank’s CDs have varying minimum deposit requirements by region. Most states will only have a $500 minimum deposit requirement, but some may have $1,000 or even $2,500. See our table below for a breakdown or proceed to Citi’s Fixed Rate CD page and enter your zip code.
You can apply for and open a Citibank CD online, however, if you plan on depositing more than $250,000 you must stop into one of Citibank’s 700 branch locations across 12 states. You can locate a branch here.
Citibank has 19 certificates of deposit terms to choose from ranging from 3 months to 5 years. If you are looking for IRA CDs they have 17 to choose from with terms also ranging from 3 months to 5 years but with some featuring higher yields than their standalone CD counterparts. You can see Citi’s IRA CD rates and account details further below.
Of the 19 CD terms Citibank offers, 3 are considered “Featured Rate” CDs. These are:
- a 9 month CD yielding 4.05% or 4.90% APY
- a 12 month CD yielding 4.05% APY
- an 18 month CD yielding 4.05% APY
Citibank CDs are federally insured by the FDIC up to $250,000 per depositor or $500,000 for joint accounts. See all yields below.
CD Rates
| Term | APY |
| 3 months | 0.05% |
| 4 months | 0.05% |
| 5 months | 0.05% |
| 6 months | 1.10% |
| 7 months | 0.05% |
| 8 months | 0.05% |
| 9 months | 4.30% |
| 9 months ($100k +) | 4.90% |
| 10 months | 0.05% |
| 11 months | 2.00% |
| 11 months ($100k +) | 3.00% |
| 12 months | 4.05% |
| 13 months | 0.10% |
| 14 months | 0.10% |
| 15 months | 4.30% |
| 15 months ($100k +) | 4.75% |
| 18 months | 2.50% |
| 18 months ($100k +) | 3.75% |
| 2 years | 2.50% |
| 30 months | 0.10% |
| 3 years | 2.50% |
| 4 years | 2.50% |
| 5 years | 2.50% |
As you can see they have mostly flat yields across all terms but are slowly introducing new featured rate CDs and promotional CDs that are far more competitive.
To give these yields some context, the current national average for a 12 month CD and a 5 year CD sit at 1.72% APY and 1.37% APY, respectively, according to recent FDIC data, with top yields from online banks inching over the 5.25% APY and 4.50% APY mark for the same respective terms.
Citibank Promotional CDs
Citibank also offers 2 promotional deposits. A “Step Up CD” and a “No Penalty CD.”
The Step Up CD is a 30 month deposit with a composite APY of 0.10%. You can read more about the terms and conditions here.
The No Penalty CD is a 12 month deposit that used to feature a decent APY last year, but is no longer competitive. Funds from this account may be withdrawn penalty-free at any time after six calendar days from opening the account. You can read more about the terms and conditions here.
Related: You may want to check out the Citi Accelerate Savings account which is available in select regions.
Promotional CD Rates
| Term | Deposit Size | APY |
| 12 month No Penalty CD | $500 – $99,999.99 | 4.25% |
| 12 month No Penalty CD | $100,000 + | 4.75% |
| 30 month Step Up CD | $500 + | 0.10% |
Both the Step Up CD and the No Penalty CD come with minimum deposit requirements of $500.
Citibank IRA CDs
Citibank also offers IRA CDs. These IRA CDs only come with short terms and mostly have low yields other than the highlighted rates below. The highlighted 3 month, 6 month and 18 month (variable rate) IRA CDs feature some of the most competitive yields available anywhere in the country for those respective terms.
| Term | APY |
| 3 month | 5.34% |
| 4 month | 0.05% |
| 5 month | 0.05% |
| 6 month | 5.44% |
| 7 month | 0.05% |
| 8 month | 0.05% |
| 9 month | 5.55% |
| 10 month | 0.05% |
| 1 year | 5.55% |
| 18 month Variable CD | 0.01% |
| 13 month | 0.10% |
| 18 month | 3.75% |
| 2 year | 2.50% |
| 30 month | 0.10% |
| 3 year | 2.50% |
| 4 year | 2.50% |
| 5 year | 2.50% |
đź“Ś Please note: The 18 month variable rate IRA CD that Citibank launched back in the Spring of 2022 was their most competitive yield with an APY up to 5.97% at its peak. This promotional rate, which may have brought in many new accounts, is now yielding just 0.01% APY as of August, 2023. This is a common tactic banks deploy with variable rate accounts to bring in new customers before dropping the yield.
Minimum Deposit Requirements
As mentioned, the minimum deposit requirement for all Citibank CDs vary by region. Below is the breakdown.
| State | Minimum Deposit |
| California, Nevada | $1,000 |
| Florida, Maryland, Virginia, D.C. | $2,500 |
| All other states | $500 |
To open a Citibank CD online you must be a U.S. resident or citizen and at least 18 years old. You will need the following pieces of information to complete your application online:
- Physical address
- Date of Birth
- Social Security Number
- Email Address
- Phone Number
To fund the account you will need the bank account number and routing number for the institution you will be transferring the funds from.
Interest on all Citibank CDs compounds daily. For CDs with terms of one year or less, interest is paid to you either monthly or upon maturity. And for CDs with terms longer than one year, interest is paid monthly.
How Much Can you Earn with a Citibank CD?
The amount you can earn on a Citibank CD is going to depend on 3 variables. These are:
- Deposit amount.
- APY (annual percentage yield).
- CD term.
To get a better understanding of your potential overall interest earnings from a Citi CD, we’ve compiled a table below of Citi’s best CD rates and total earnings from interest payments based on a $100,000 deposit.
| CD Term | APY | Total Earnings |
| 9 months | 4.90% | $3,652.94 |
| 12 months | 4.05% | $4,050.00 |
| 15 months | 4.75% | $5,972.34 |
| 1 year IRA CD | 5.55% | $5,550.00 |
How do Citibank’s CD Rates Compare?
Below are 3 tables comparing Citibank’s current CD rates with other large U.S. banks, popular FDIC-insured online banks and then brokered CDs offered through major brokerages.
Citibank’s CD Rates vs Other Big Banks
| Bank | Min. Deposit | Best APY |
| Citibank | $500 | 5.55% |
| Bank of America | $100,000 | 4.70% |
| Chase | $1,000 | 5.00% |
| U.S. Bank | $1,000 | 4.95% |
| Wells Fargo | $5,000 | 4.76% |
Citibank’s CD Rates vs Online Banks
| Bank | Min. Deposit | Best APY |
| Citibank | $500 | 5.55% |
| Barclays | none | 5.00% |
| Bread Savings | $5,000 | 5.35% |
| CIT Bank | $1,000 | 5.00% |
| Discover Bank | $2,500 | 5.00% |
Citibank’s CD Rates vs Brokered CDs
| Institution | Min. Deposit | Best APY |
| Citibank | $500 | 5.55% |
| Charles Schwab | $1,000 | 5.60% |
| Edward Jones | $1,000 | 5.30% |
| Fidelity | $1,000 | 5.30% |
| Vanguard | $1,000 | 5.60% |
Grace Period and Early Withdrawal Penalties
Upon the maturity of your Citibank CD you will be provided a 7 calendar-day grace period in which you may modify your CD or close it out without facing any early withdrawal penalties. If nothing is done during this time your CD will automatically renew into a new CD with the same terms and the going APY (annual percentage yield) at that time.
If you need funds prior to the maturity of your CD you will face an early withdrawal penalty. The penalty structure is outlined in the table below.
| Term | Penalty |
| 1 – 12 months | 90 days’ interest |
| 13 months + | 180 days’ interest |
Final Thoughts
Citibank’s CDs are quickly becoming more competitive with the addition of new promotional CDs for both regular and IRA accounts.
Citibank CD FAQs
Still have questions about the certificates of deposits offered at Citibank? See what other consumers are asking around the web as well as our responses below.
Can You Have Joint Ownership of a Citibank CD?
Yes. Citibank CDs allow for joint ownership of 2 individuals or more. Each individual is covered by the FDIC up to $250,000.
What Happens When My Citibank CD Matures?
Citibank will notify you prior to your CD’s maturity so you can plan ahead. Upon the maturity of your CD will be provided with a 7 calendar-day grace period in which you can close out your CD or modify it in any way. If nothing is done during this grace period, Citibank will roll your funds into a new CD with the same term as your old one and the going APY (annual percentage yield) at that time.
Does Citibank Offer Business CDs?
Yes. Citibank offers CDs (certificates of deposit) to small businesses with terms ranging from 7 days to 10 years. You’ll need to stop by a local branch to see today’s rates and/or to open an account. You can learn more about Citi business CDs here.
Does Citibank Offer a Money Market Account?
No. Citibank does not offer a personal money market account at this time.
Does Citibank Offer a Savings Account?
Yes. Citibank’s Accelerate Savings account is available in select markets. It comes with an APY of 4.05% but also a monthly fee of $4.50 that can be waived by maintaining a monthly balance of $500 or more or by having a Citi checking account. The Citi checking account also has its own monthly requirements to avoid a $10/month service fee.
What is Citibank’s Routing Number?
Citibank’s routing number is 021000089.
Can I open a Traditional IRA account at Citibank?
Yes, you can open a traditional or Roth IRA with Citibank.