Interest Rates for Citibank Savings Account

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After years of mediocre returns, yields on savings accounts are finally increasing. However, it's not the case for all banks.

Citibank, the retail banking division of Citigroup, offers several savings account options tailored to meet the needs of its customers. Although most of its accounts provide low annual percentage yields (APYs), Citibank now has a high-yield option that may be worth checking out. (Learn more about the best high-yield savings accounts here.)

Citibank received a 4.5 out of 5 Bankrate score and a 4.7 out of 5 rating for savings accounts overall.

Citibank's savings rates are determined by the type of account you select, of which there are many.

The Accelerate Savings account is Citibank's high-yield choice, which can only be opened online or through the Citibank mobile app. The APY is consistent for all balances, and the account is not available in some regions.

Here's a closer look at the Accelerate Savings Account:

• Account Name APY Minimum Deposit
• Citi's Accelerate Savings account 3.85% $0
• Outside of the Accelerate Savings Account, yields at Citibank are modest.

The Access Account at Citibank, one of its basic savings accounts, is a checkless account that provides a low APY and a monthly service fee. If the account is not linked to a Citibank checking account, you can avoid the $4.50 monthly fee by maintaining a minimum balance of $500.

Here's a closer look at the Access Account Package:

• Account Name APY Minimum Deposit
• Citi Savings 0.05% $0
• Next is the Citibank Account Package, which allows customers to connect other deposit accounts, such as retirement and investment accounts.

To prevent a $25 monthly charge, customers must maintain a consolidated minimum balance of $10,000 across all eligible linked accounts. This account provides a poor APY but includes additional benefits such as Citi fee-free withdrawals from non-Citibank ATMs.

Here's a closer look at the Citibank Account Package:

• Account Name APY Minimum Deposit
• Citi Savings N/A $0

The Citi Priority account is a premium banking package that entails a linked checking account and enriched benefits. It offers investment resources from Citi Personal Wealth Management and enables free withdrawals from non-Citibank ATMs.

Although a $30 monthly fee is charged, it is waived if the total balance across all eligible accounts amounts to $30,000.

Check out the Citi Priority Account Package in more detail:

• Account Name
• APY
• Minimum Deposit for APY
• Citi Savings
• 0.10%
• Below $10,000
• Citi Savings
• 0.10%
• $10,000-$24,999.99
• Citi Savings
• 0.10%
• $25,000-$49,999.99
• Citi Savings
• 0.10%
• $50,000-,999.99
• Citi Savings
• 0.10%
• $100,000-$499,999.99
• Citi Savings
• 0.10%
• $500,000-9,999.99
• Citi Savings
• 0.10%
• $1,000,000 or more

Additionally, the Citigold Account Package rewards the highest APY besides the Accelerated Savings account. It constitutes a premium package that requires an average monthly balance of over $200,000 across connected deposit, retirement, and investment accounts. No monthly service fees are charged for this account.

Get to know the standard rates for the Citigold Account Package:

• Account Name
• APY
• Minimum Deposit for APY
• Citi Savings
• 0.12%
• Below $10,000
• Citi Savings
• 0.12%
• $10,000-$24,999.99
• Citi Savings
• 0.12%
• $25,000-$49,999.99
• Citi Savings
• 0.12%
• $50,000-,999.99
• Citi Savings
• 0.12%
• $100,000-$499,999.99
• Citi Savings
• 0.12%
• $500,000-9,999.99
• Citi Savings
• 0.12%
• $1 million or more
• Please note that the Annual Percentage Yields (APYs) outlined are accurate as of May 16, 2023, and that these rates may vary across different regions for select products.

• How do Citigroup savings rates compare with top-yielding banks?

While the Accelerate Savings account from Citi is an excellent option for those seeking a competitive yield from a top-tier bank, it is unavailable in several states including California, Connecticut, District of Columbia, Florida (part), Illinois (part), Maryland, Nevada, New Jersey, New York, and Virginia. Savers in these regions can consider online banks such as Bask Bank and Bread Savings, among others, for some of the best rates.

Additional Banking Opportunities Available with Citibank

Citibank has an array of savings options to choose from, but their most advantageous option for savers is the Accelerate Savings account, which is available in select states. If you're not interested in the Accelerate Savings account, Citibank offers a diverse selection of certificates of deposit (CDs) with terms spanning from three months to five years.

These CDs offer a safe and stable method of investing your money, and you can choose the length of time that suits your needs. By keeping your money in a CD for a specified period, you can earn higher interest rates, which means more money in your pocket.

For those who are looking for even more options, Citibank also offers a Money Market account. This account provides customers with a high-yield savings account that allows for accessibility to funds without sacrificing growth potential.

No matter what your financial goals may be, Citibank offers a variety of options that can cater to your needs and provide the best opportunity for your money to grow.