Citibank CD Rates: March 2024

Citibank offers a variety of CDs, although only one has high rates

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Citibank CD Rates

One of the largest banks in the U.S., Citibank offers a variety of deposit accounts, including three types of certificates of deposit (CDs). Its Fixed Rate CD offers a variety of terms, while its Step Up CD and No Penalty CD come with more limited terms.

All of Citibank’s CDs require a minimum deposit of $500. Your annual percentage yield (APY) can vary widely depending on the term you choose. Here are the Citibank CD rates today on various term options. 

Important

Citibank's CD rates may vary by location, and the rates listed below may not be available in all ZIP codes. The APYs listed below use NYC ZIP code 10001 and are up to date as of the date of publication of this article. We review CD rates every two weeks and update the information below accordingly.

Fixed Rate CD Overview

CD Term APY
3 months 0.05%
4 months  0.05% 
5 months  0.05% 
6 months  4.75% 
7 months  0.05%
8 months  0.05% 
9 months  3.75% 
10 months  0.05% 
11 months  0.05%
1 year  2.00%–3.00%
13 months  0.10% 
14 months  0.10% 
15 months  4.00%
18 months  2.00%
2 years  2.00%
30 months  0.10% 
3 years  2.00% 
4 years  2.00% 
5 years  2.00%

Step Up Rate CD Overview

 CD Term  Composite APY Minimum Deposit 
30 months 0.10%  $500 

No Penalty CD Overview

 CD Term  Composite APY Minimum Deposit 
12 months 0.05%  $500 

See the best CD rates today before choosing the CD that is best for you.

Citibank CDs: Key Features

Fixed Rate CD Key Features

APY Range 0.05%–4.75%
Minimum Deposit  $500 
Term Range  3–60 months 
Early Withdrawal Penalty  90 days of simple interest for CDs with a term of 1 year or less 180 days simple interest for CDs with terms longer than 1 year 

Step Up CD Key Features

APY Range 0.05%–0.15%
Minimum Deposit  $500 
Term Range  30 months 
Early Withdrawal Penalty  90 days of simple interest for CDs with a term of 1 year or less
180 days simple interest for CDs with terms longer than 1 year 

The Step Up CD has a fixed interest rate that increases over the term. Upon maturity, this CD will renew into a standard Fixed Rate CD.

No Penalty CD Key Features

APY Range 0.05%
Minimum Deposit  $500 
Term Range  12 months 
Grace Period 6 days
Early Withdrawal Penalty  Fee applies only during the first 6 days after deposit 

The No Penalty CD allows you to withdraw your money (and interest) with no fee beginning after the sixth day after you make the minimum deposit. Partial withdrawals are not permitted. You cannot renew a No Penalty CD into another No Penalty CD; when the CD matures, if you allow it to automatically renew it will renew into a standard Fixed Rate CD. 

Compare CD Account Rates

Is Citibank a Good Investment for CDs?

Citibank offers competitive APYs that exceed 4.00% for certain terms with its Fixed Rate CDs. However, some of its CD terms come with very low rates, so those wouldn’t offer a particularly good return on your investment. 

Some other banks offer APYs that sometimes exceed 5.00%, whereas Citibank’s CD APYs usually don’t get that high. It’s worth shopping around and comparing your options to find the best place for your money—learn more with our picks for the best overall CD rates.

How Do You Get the Best CD Rate With Citibank?

As of publication, Citibank offers its best rate (over 4.00% APY) on certain terms with its Fixed Rate CD. All of Citibank’s CDs require a $500 minimum deposit.

Warning

Withdrawing your money from a CD before it matures will usually trigger an early withdrawal penalty. With the exception of its No Penalty CDs, Citibank charges an early withdrawal fee equal to 90 days or 180 days of interest, depending on your term length.

Does Citibank Have a 3-Month CD?

You can choose a three-month term on Citibank’s Fixed Rate CD. This three-month CD comes with a low APY and requires a minimum deposit of $500. 

What Is Citibank’s Highest-Paying 12-Month CD?

The highest paying 12-month CD at Citi is the Fixed Rate CD which pays 3.75% for 12 months. There is also a 12-month No-Penalty CD, but its rate is currently very low. The special benefit of the No Penalty CD is that you can withdraw your money early without penalty as long as it’s been at least six days since you made the minimum deposit.

Your Guide to CDs

  • What Is a Certificate of Deposit (CD)?
  • What Is a Brokered CD?
  • What Is a CD Ladder?
  • Pros and Cons of CDs
  • How to Invest With CDs
  • How to Open a CD
  • How to Close a CD
  • CDs vs. Annuities
  • CDs vs. Stocks
  • CDs vs. Mutual Funds
  • CDs vs. ETFs
  • CDs vs. Savings Accounts
  • Short-Term vs. Long-Term CDs
  • CD Rates News
  • Best 1-Year CD Rates
  • Best 18-Month CDs
  • Best Jumbo CD Rates
  • Best 6-Month CD Rates
  • Best 3-Month CD Rates
  • Best Bank CD Rates

Read the original article on Investopedia.

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