Citi offers three types of certificates of deposit, with fixed rates ranging from six months to five years. But not all of its terms have competitive annual percentage yields, or APYs, and there’s a $500 minimum deposit requirement to open a CD.
If you already bank with Citi or live near a branch, its promotional rate CDs can help you earn a high return without sacrificing in-person assistance. But its featured rate CDs -- including its competitive 4.75% APY for a seven-month term -- may vary depending on where you live. Rates for other fixed-rate CDs are less compelling, falling between 0.05% and 4%, depending on your term and deposit.
In addition to its standard fixed-rate CDs, Citibank also offers specialty CDs, including step-up and no-penalty CDs -- but these options offer a paltry return compared with other banks.
Citi CDs: At a glance
| CD type | Minimum deposit | Term | Compounding schedule | Early withdrawal penalty | Grace period |
| Fixed-rate | $500 | Three to 60 months | Daily | 90 to 180 days of interest | Seven days |
| Step-up | $500 | 30 months | Daily | 180 days of interest | Seven days |
| No-penalty | $500 | 12 months | Daily | 90 days of interest | Seven days |
As of March 19, 2024.
Citi's fixed CD rates
| CD term | APY |
| 3-month | 0.05% |
| 4-month | 0.05% |
| 5-month | 0.05% |
| 6-month | 0.05% |
| 7-month | 4.75% |
| 8-month | 0.05% |
| 9-month | 3.75% |
| 10-month | 0.05% |
| 11-month | 0.05% |
| 1-year | 2.75% - 3.75%* |
| 13-month | 0.10% |
| 14-month | 0.10% |
| 15-month | 4.00% |
| 18-month | 2.00% |
| 2-year | 2.00% |
| 30-month | 0.10% |
| 3-year | 2.00% |
| 4-year | 2.00% |
| 5-year | 2.00% |
Rates as of March 19, 2024. *Your APY depends on your balance
Citi's step-up CD rates
Citi offers one step-up CD with a 30-month term that earns a composite APY of 0.10%. During months 1 through 10, it earns 0.05% APY, then 0.10% APY during months 11 through 20 and 0.15% APY during months 21 through 30.
Citi's no-penalty CD rate
Citi offers a 12-month no-penalty CD, which allows you to withdraw your money before the term ends free of charge. You will have to leave your money in the CD for at least the first six days after opening your account, however; otherwise Citi will charge an early withdrawal fee.
| CD term | APY | Minimum deposit |
| 12 months | 0.05% | $500 |
Rates as of March 19, 2024.
How much can you earn with Citi CDs?Â
The following table shows how much interest you can earn across a variety of Citi CDs if you invest $1,000 in a CD that compounds monthly.
| CD term and type | APY | Interest earned |
| 3-month fixed-rate CD | 0.05% | $0.12 |
| 7-month fixed-rate CD | 4.75% | $27.44 |
| 9-month fixed-rate CD | 3.75% | $28.00 |
| 1-year fixed-rate CD | 2.75% | $27.50 |
| 5-year fixed-rate CD | 2.00% | $104.08 |
Rates as of March 19, 2024. CNET calculates interest earned based on an annual compounding schedule, though some banks compound interest more frequently. Because Citi compounds daily, you may earn a slightly higher return.
How do Citi’s CD rates compare?
Citi offers a few competitive CD terms, but you can find higher rates elsewhere. Here's a quick look at how Citi compares to Chase, Synchrony and Marcus by Goldman Sachs:
| CD term | Citi | Chase* Relationship Rate | Synchrony | Marcus by Goldman Sachs |
| 6-month | 0.05% | 3.00% | 4.80% | 4.90% |
| 1-year | 2.75% - 3.75% | 2.00% | 4.90% | 5.00% |
| 3-year | 2.00% | 2.50% | 4.15% | 4.15% |
| 5-year | 2.00% | 2.50% | 4.00% | 4.00% |
*Chase’s relationship rates apply if you have a linked checking account and may vary by zip code. Rates as of March 19, 2024.
Additional savings options at Citi
Citi has a high-yield savings account that offers 4.45% APY on your savings in select zip codes, which is on par with other high-yield savings accounts. However, there are a few requirements to note. Citi charges a $4.50 monthly service fee, but you won’t be charged a monthly service fee for the first three months after account opening. You can waive it moving forward if you have a Citi checking account or maintain a $500 average monthly balance. If you qualify for a Citi relationship tier (the lowest tier requires a monthly balance of $30,000), you won’t have to worry about a monthly fee. Lastly, you may not qualify for this rate, depending on where you live.
Should you open a CD at Citi?
If you’re looking for a short-term CD like a seven-month or nine-month option, Citi offers competitive rates with a lower minimum deposit requirement. But if you’re looking for a longer-term option or want to build a CD ladder, you can earn a better return at other online banks and credit unions.
If you’re not sure that you want to lock up your money for a set term, a high-yield savings account may make more sense. If you don’t qualify for Citi’s high-yield savings account, there are other banks with high-yield savings accounts offering similar or higher APYs.
