[📌 Update March 20, 2023 – Citibank raised the APY (annual percentage yield) on their 9 month featured CD by 1.00% to the current 4.00% APY, after initially lowering it to 3.00% APY earlier in the month following the Silicon Valley Bank news. The rest of Citibank’s CD rates remain the same other than a few minor rate movements with their IRA CDs. See all of Citibank’s current CD rates below.]
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 $1.70 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.
In this post you'll learn:
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.
As mentioned, Citibank has 19 certificates of deposit terms to choose from. If you are looking for an IRA CD they have 9 terms to choose from. You can see those rates and details further below.
Of the 19 CD terms Citibank offers, 3 are considered “Featured Rate” CDs. These are:
- a 3 month CD yielding 4.00% APY
- a 9 month CD yielding 4.30% APY
- a 12 month CD yielding 4.15% APY
- an 18 month CD yielding 4.15% 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 | 4.00% |
| 4 months | 0.05% |
| 5 months | 0.05% |
| 6 months | 1.10% |
| 7 months | 0.05% |
| 8 months | 0.05% |
| 9 months | 4.30% |
| 10 months | 0.05% |
| 11 months | 0.05% |
| 12 months | 4.15% |
| 13 months | 0.10% |
| 14 months | 0.10% |
| 15 months | 0.10% |
| 18 months | 4.15% |
| 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 1.36% APY and 1.26% APY, respectively, according to recent FDIC data.
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 featuring an APY of 4.05%. 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.
Citibank Promotional CD Rates
| Term | APY |
| 12 month No Penalty CD | 4.05% |
| 30 month Step Up CD | 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 6 month, 1 year and 18 month IRA CDs feature some of the most competitive rates available anywhere for those respective terms.
| Term | APY |
| 3 month | 4.60% |
| 4 month | 0.05% |
| 5 month | 0.05% |
| 6 month | 4.60% |
| 7 month | 0.05% |
| 8 month | 0.05% |
| 9 month | 4.39% |
| 10 month | 0.05% |
| 1 year | 4.39% |
| 18 month Variable CD | 5.39% |
| 13 month | 0.10% |
| 18 month | 4.15% |
| 2 year | 2.50% |
| 30 month | 0.10% |
| 3 year | 2.50% |
| 4 year | 2.50% |
Citibank introduced the promotional 18 month variable rate CD in May 2022 and it has been Citibank’s most competitive offer ever since. This is a variable rate, meaning it may change prior to maturity.
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.
Early Withdrawal Penalties
| 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.
Can I open a Traditional IRA account at Citibank?
Yes, you can open a traditional or Roth IRA with Citibank.