Citibank CD Rates

Citibank CDs are an investment tool with highly attractive APYs at certain term lengths and a lower minimum deposit requirement than you’ll see at most traditional banks. Additionally, the bank offers several unique CD offerings, including step-up and no-penalty CDs. If you’re looking for a fixed-rate investment product from the 18th largest bank in the U.S., a Citibank CD might be what you want.

Min. Deposit
3.8 / 5.0
SimpleScore Citibank 3.8
Savings APY 5
Customer Satisfaction 2
Mobile App 5
Product Variety 4

Citibank, founded in 1812 in New York, has been around for over two centuries. The banking giant offers a wide array of products and services to individuals, small businesses and large corporations. Currently, Citibank has over 200 million customers and does business in more than 160 countries. With this level of experience, you should expect a high level of service if you choose to invest in a Citibank CD.

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In this article

    Citibank at a glance

    BankMin. Deposit1-Year APY5-Year APYPenalty
    Citibank$5000.10%0.15%90 days interest on CDs up to 12 months; 180 days interest on CDs longer than 12 months

    What we like about it

    One of the biggest standouts at Citibank is the three-month CD option. If you’re an investor looking for a short-term investment, you’ll really like the 0.15% APY offered on this 90-day CD. Citibank also offers some unique CD options, including the no-penalty CD. You can get an APY of 0.05% on a 12-month account with absolutely no penalty if you need to withdraw your money early, as long as it’s not in the first six days.

    Additionally, the minimum opening deposit for a Citibank CD is only $500. While this is more than some of the no-minimum online bank options like Capital One, it is much lower than what you’ll see at traditional banks. For example, Bank of America and Chase both require a $1,000 minimum, and Wells Fargo requires an even larger $2,500.

    Things to consider

    For investors with larger sums of money, there are no perks for bigger investments. While the company’s website indicates there are perks, all of the current rates are the same regardless of how much you have invested. As long as you can meet the $500 minimum, you have access to the highest rates possible.

    What you need to know

    A CD from Citibank is available from three months to five years, with monthly increments available up to 15 months, and then wider gaps between options up to the five-year mark. APY rates are available from 0.15% to 0.15%, depending on the term rate that you select.

    It’s important when shopping Citibank CD rates that you check all term lengths because the rates may vary drastically without a lot of change in time.

    Because of the varying APY rates at different terms, it isn’t easy to classify how the bank matches up against other options. At some term lengths, like the shorter three-month mark, the bank is highly competitive and on par with some of the industry leaders. However, at other lengths,  the bank lags behind other options.

    Citibank CDs are available to all consumers, even if you are not a current bank customer. But keep in mind that you may be able to get better rates if you pair your CD with an existing Citibank account.

    Early withdrawal penalties

    The early withdrawal penalties at Citibank are clearly laid out and are some of the lowest available, especially on longer-term investments. For any CD a year or less in term length, the maximum penalty is 90 days of interest. For any Citibank CD over a year, the maximum penalty is 180 days of interest.

    Comparatively, this gives a lot of savings to longer-term investors that suddenly need access to their funds. For example, if you have a five-year CD with Citibank and have to access your funds at the four-year mark, you will incur a 180-day interest penalty. In other words, you’ll lose three months of interest earnings, but you will get to keep the remaining three years and nine months. If you had the same account with Chase Bank, you would lose a full year of interest instead of just three months.

    Other CD products

    Citibank has three types of CDs available — standard CDs, step-up CDs and no-penalty CDs. The step-up CDs offer rate increases every 10 months for the duration of the 30 month CD, which is a unique way to see your savings ramp up.

    The no-penalty CD is a 12-month Citibank CD account that guarantees you an APR rate of 0.05%. But the big perk is that if you need to access your money early, the bank will not charge you an early withdrawal penalty as you would see on all other account options. For people that are looking to save but aren’t sure if they can leave their funds untouched, this could be a great option.

    Rate guarantees

    Citibank does not have any additional rate guarantees on any of its three CD products. However, that does not mean your APY rate is not guaranteed after you make your investment. Whatever rate you lock in when you make your investment is the rate you are guaranteed for the life of your investment.

    Some banks will allow you to get a better rate if it shows up in the first few days after you lock in your rate. For example, TIAA Bank guarantees the best rate for the first 10 days of your account with the yield pledge promise.

    How do I pick the best CD?

    Many people believe the only thing you should look for when picking out a CD is the best rate possible. While the rate is important, there are other factors that you should consider like the available term lengths, any additional fees, the minimum deposit required and the penalties for withdrawing your funds early. By looking at all of these factors together, you can make the right decision about where to invest your money best.

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    The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.

    For every review, our editorial team:

    • Identifies five measurable aspects to compare across each brand
    • Determines the rating criteria for each aspect score
    • Averages the five aspect scores to produce a single SimpleScore

    Here’s a breakdown of the five aspect scores and their rating criteria for our review of the best CDs of 2020.

    Why do some brands have different SimpleScores on different pages?

    To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.

    However, it’s possible for brands to have multiple SimpleScores. For instance, if we compare CDs offered by Discover, it scores a 3.75 out of 5 SimpleScore according to our metrics and rating system. But if we review Discover’s savings account according to our SimpleScore, it scores a 4.5 out of 5. We adjust our rating system to account for different products and industry standards.

    Questions about our methodology?

    Email Hayley Armstrong at

    12-month APY

    We awarded brands that offered higher APYs on 12-month certificates of deposit — the higher the APY, the higher the score.

    3-year APY

    We awarded brands that offered higher APYs on 3-year CDs — the higher the APY, the higher the score.

    Customer satisfaction

    We leveraged J.D. Power’s 2020 U.S. Retail Banking Satisfaction Study and 2020 U.S. Direct Banking Satisfaction Study to rate each brand for customer satisfaction. The higher the satisfaction score, the higher the SimpleScore.

    Minimum deposit

    Some providers require a minimum deposit to open a CD. We rated and rewarded brands that required low minimum deposits with higher scores.

    Customer support

    Providers with multiple channels of customer support were rewarded with higher scores in this aspect. We considered social media, mobile app support, in-branch support, phone and email as channels of support for customers.

    Jason Lee

    Contributing Writer

    Jason Lee is a U.S.-based freelance writer with a passion for writing about dating, banking, tech, personal growth, food and personal finance. As a business owner, relationship strategist, and officer in the U.S. military, Jason enjoys sharing his unique knowledge base and skill sets with the rest of the world. Follow Jason on Facebook here