Available to many states, Citibank Savings is offering a staggering 0.50% APY Rate. Continue reading below to learn everything you need to know about Citibank.
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About Citibank
Citibank was founded in 1812 as Citi Bank of New York but has since expanded nationwide and has locations in nearly every state. They have recently expanded their online banking service to reach everyone and make it easier to manage their accounts from anywhere.
I’ll review Citibank Savings below.
Citibank Promotions
To earn Citibank’s competitive rate, simply have a balance of $500. That’s all it takes and you’ll get to enjoy earning the competitive APR rate on all balances.
- Account Type: Savings Account
- Interest Rate: 0.50% APY
- Availability: AL, AK, AZ, AR, CO, DE, GA, HI, ID, IN, IA, KS, KY, LA, OK, ME, MA, MI, MN, MO, MS, MT, NE, NH, NM, NC, ND, OH, OR, PA, RI, SC, SD, TN, TX, UT, VT, WA, WV, WI, and WY
- Excludes: Boston, Philadelphia, Seattle, Dallas (Bank Locator)
- Minimum Balance: $500
- Credit Inquiry: Soft pull
- Opening Deposit: None
- Credit Card Funding: None
- Monthly Fee: $4.50 can be waive with average monthly balance of $500 or more.
- Additional Requirements: See below
- Early Termination Fee: None
(FDIC Insured)
American Express® High Yield Savings Account - You earn 0.40% interest rate along with no minimum deposits or monthly fees. Amex High Yield Savings account has been my favorite Hub account for the past 7 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why: *No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account. *1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two. *No loss of interest during transfers - On the day you initiate your transaction on the high yield savings account website, the funds will be reflected in your Current Balance and begin earning interest. Some other features from American Express High Yield Savings Account include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month. |
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Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos Bank and CIT Bank accounts offer great rates available nationwide which I recommend. |
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| PROMOTIONAL LINK | OFFER | REVIEW |
| Aspiration | 1.00% APY + $150 Cash | Review |
| Axos Bank High Yield Savings | Up to 0.61% APY | Review |
| Quontic Bank High Yield Savings | 0.55% APY | Review |
| CIT Bank Money Market | 0.45% APY | Review |
| American Express High Yield Savings | 0.40% APY | Review |
| Discover Bank Online Savings | 0.40% APY | Review |
| Axos Business Savings | 0.20% APY + $100 Bonus | Review |
Citibank ACH Capabilities & Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | ? | ? | ? | None |
| Pull | ? | ? | ? | None |
Editor’s Note: Help us with the table above in the comment section if you have experience with Citibank’s ACH capabilities.
How to Earn Citibank Rate
- Open a Savings account from Citibank.
- Maintain a balance of $500 balance amount and earn the 0.50% APY rate.
| Balance Requirement | APY Rate |
| $500+ | 0.50% APY |
Why You Should Sign Up For This Account
- Receive high earnings without paying back in monthly fees
- Funding accounts is made easy via bank transfers, mobile deposit, wire transfer or check.
- Manage your accounts at your leisure from your computer, tablet or mobile device.
- All deposits are FDIC insured to the maximum amount allowed by the law
Bottom Line
Check out Citibank and open a Savings account this amazing rate! The fact that you can earn a high rate on any balance makes this Savings Account all worthwhile. Let us know about your experience with this bank and comment below.
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on Citibank Savings Account.
If you think it is a challenge to open an account, or to add more money, WAIT UNTIL YOU TRY TO WITHDRAW YOUR MONEY. CITI HAS MORE WAYS THAN YOU CAN IMAGINE TO HOLD ON TO IT. DAILY LIMITS, MONTHLY LIMITS, STANDARD LIMITS. I SPENT HOURS ON THE PHONE TALKING TO 2 DIFFERENT PEOPLE IN NEW DELHI WHO WERE NO HELP AT ALL.
Like others, I couldn’t believe how difficult Citi makes it to open the accelerated account. Now it’s open for weeks and I wanted to add funds but I can find no way to access the account online. Agree with how difficult it is to speak with the reps on a phone. This is starting to feel like a scam from China rather than an established FDIC bank in the US that I’ve had a credit card with for years. Dealing with that online or by phone has not been a problem.
This bank is so bad. This account seemed like a good idea, used it for about 6mths or so, but as soon as I wanted to withdraw any funds they put up all kinds of road blocks. Here I am now 2 weeks later and instead of simply transferring my requested funds (not the full amount but 1/4), they have went ahead and closed the account and are “mailing” me all my money. Well supposedly they mailed the money last Tuesday overnight, today is the following Tuesday and somehow they still don’t have a tracking number for this “overnight shipment”. The rep today says oh it shipped out 2 day express to you, but still didn’t have a tracking number. They are simply holding my money as long as they can and most likely making up excuses on it being sent out. DO NOT USE THIS BANK!!! There are other places out there that are local that will either match or come close to this rate. Just ask you local bank to see if they can match the savings rates.
We bank with CITI but not for it’s APY. We’d moved some of our money there for the promotion offer they’d had. We typically do this and pull the funds out when they pay. It’s like a 60-90 day investment. Do this with multiple banks at the same time and you can make money just for letting them use yours to invest for that time. Banks aren’t doing you a favor, they use your money on investments. How else would they make a profit? But I know I’m preaching to the choir. If you are looking for the highest APY % 1stsecuritybank.com currently has a 2.51% on checking accounts. Slightly higher for anyone with over 50K.
If you close the account mid-statement period, will accrued interest post?
I wish I had realized that NY state was not eligible for the accelerated savings promo… I liked the idea that a bank with both a online and physical presence was offering such a high APY without high minimum deposit. Had I known that I would have waited till I could meet the 10k or 25k minimum deposit for some of their other higher APY offers. Live and learn I guess, back on over to Marcus for me till then.
Thanks for your comments. Hey was considering Marcus too
I couldn’t find a log on or phone number to open an account.
I was very excited to receive an offer for the 2.37% savings account along with my credit card statement. I signed up on-line and received an email that I’d get my account info in a few days. A week later a letter shows up in the snail mail saying the account is open and including a deposit slip. But, I can’t access the account on-line, it only shows my credit card, and when I called Citi they told me the account was on a hold, though they could not say why. They tell me the hold will be cleared in a few days and then I can log in on-line with my debit card pin. Of course, I don’t have a debit card for this account! There are other links on the letter supposedly for additional terms and conditions, etc., but none of those links work either.
Is anyone else having bizzare problems like this just to open a simple savings account? The whole process should have been on-line and done right away. I’m not asking for credit, and I’m an existing customer.
Also, as is standard, the customer service rep I spoke with on the phone was in a badly setup call center and I could barely hear her over the sounds of other operators and people talking and laughing in the background. The woman did speak proper English, though her thick accent combined with the background noise made the conversation nearly impossible. I’m not getting the warm and fuzzies from Citi!
I’ve had the EXACT same issue. We’ve called 3-4 times and keep getting told the account is on hold and they will email us documents to release it within 24 hours and we never get the email. Time after time.
I have been researching this offer before I signed up and there is a flood of band review on reddit from people having accounts cancelled and or various limits on withdrawing money. Not feeling so confident about signing up anymore.
According to the direct link which you provided, the rate is 2.16%, not 2.36%, and it’s a promo rate, only valid for 90 days. The effective annual APY is 0.60%. Also, as you stated, this account requires a minimum balance of $25,000. There are other nationally available savings accounts paying 2.50% as a regular rate and not just for 90 days, with no minimum balance required whatsoever.
Hello Mike, thank you for being a reader! We have since corrected the link which shows the current 2.36% APY. Simply maintain a $500+ average monthly balance in your account for the calendar month that ends prior to the last Business Day of your monthly statement period to avoid the $4.50 fee.