Citi CD Rates for 2024

Citi CD rates are surprisingly competitive for a brick-and-mortar bank, for a few available term lengths. With the bank's variety of terms, low deposit requirements, and above-average APYs, Citi CDs are a good fit for savings balances of any size. Read our review to learn more about Citi CD rates and how they compare to the CDs you find offered by other top banks.

Citi CD rates for 2024

Compare Citi CD rates

Citi's CD interest rates on some terms are higher than other large brick-and-mortar banks, though some online banks have it beat. See how it stacks up to some of its competitors in the table below.

Details about Citi CDs

Citi Fixed Rate CD

Citi CD interest rates are competitive with its big bank competitors, with term lengths ranging from three months to five years. Citi also offers some unusual short-term CDs you won't find with many other banks, and many of these have special higher rates. Its minimum deposit is $500 in most states, but a few states have higher minimum requirements. If you'd like to benefit from Citi CD interest rates, make sure you have enough to meet the account minimum.

Other Citi CD accounts

Citi also offers the following CD accounts:

• Step Up CD
• No Penalty CD

How to open a Citi CD

It's pretty easy to open a Citi CD account, and if you're already a banking customer, you can log into your account to do it. Otherwise, you'll need to give your personal information (such as name, birthdate, and Social Security number). You'll also need to provide your employment and income information.

You'll need to fund your Citi CD, of course -- and remember, the minimum deposit amount is $500. You can transfer from an existing Citibank account or from an external bank. You'll be guided to create a login and password for Citi, so you can check up on your CD. Finally, you'll need to read and sign various agreements and disclosures for your new account.

It's important to keep track of when your CD will mature. For Citi CDs, they renew at the same term length when they expire, but you get a seven-day grace period to make any changes or withdraw your cash and close the account. And since CD rates change over time, when your CD matures, you may find that the new APY on that same term length is no longer worth your time.

Who is a Citi CD right for?

A Citi CD is a great fit for those with at least $500 they don't expect to spend in the next few months or years. It's also a good choice for those who prefer brick-and-mortar banking but still want to earn a high rate. If you're not married to the idea of a standard term length and can take advantage of, say, a 9-month CD, Citi might be a good choice. And if you want to build a CD ladder with a variety of term lengths, consider Citi's special rates on select terms.

Keep reading about Citi:

• Citi® Accelerate High-Yield Savings
• Citi credit cards

Our CDs methodology

At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.

See our full Ratings Methodology here.