Citibank CD Rates 2024: How They Compare

Citibank has the most to offer among the four biggest U.S. banks, but rates aren’t competitive with online bank CDs.
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Written by Spencer Tierney
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Edited by Sara Clarke
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Citi® CD
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Citibank is one of the four largest U.S. banks by assets, and compared with the other three, it offers more types of CDs. The CDs’ opening minimum of $500 is on the lower end. But Citibank doesn’t have the highest CD rates, which are mostly at online banks and credit unions.

Citibank CD rates

Citibank offers three types of CDs, all with a minimum deposit of $500:

  • Standard (or fixed-rate) CDs: These high-yield CDs have a fixed rate and are subject to early withdrawal penalties.

  • No-penalty CD: These no-penalty CDs have a fixed rate and the added benefit of no early withdrawal penalty, meaning you can withdraw the full amount any time after the first six days without cost.

  • Step-up CD: These step-up CDs have fixed rates with two scheduled rate increases. The CDs are subject to early withdrawal penalties.

Here’s a list of most Citibank rates:

3-month CD

0.05% APY.

6-month CD

4.65% APY.

9-month CD

3.75% APY.

1-year CD

  • 2.75% APY for balances below $100K.

  • 2.00% APY for balances of $100K and above.

  • 1-year no-penalty CD

    0.05% APY.

    15-month CD

    4.00% APY.

    18-month CD

    3.75% APY.

    2-year CD

    2.00% APY.

    30-month step-up CD

    0.10% APY (Composite APY of three rates.)

    3-year CD

    2.00% APY.

    4-year CD

    2.00% APY.

    5-year CD

    2.00% APY.

    *Rates listed are for New York. Rates may vary by location.

    » Want more options? See the best CD rates

    More details about Citibank CDs

    Minimum deposit


    Range of CD terms

    3 months to 5 years.

    Early withdrawal penalty

    Other fees

    None, which is common for CDs.

    Grace period

    See grace periods by bank. This period is the time between a CD’s maturity date and its automatic renewal for a new term if the CD isn’t cashed out.

    Types of account ownership

    • Single account.

    • Joint account.

    • Custodial account (on behalf of kids).

    • Trust.

    » Learn more about accounts on our Citibank bank review

    Want to compare CD details?

    View a curated list of nine CD reviews to see all rates, minimum requirements and other details at online and traditional banks and one brokerage.

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    What to consider when opening CDs

    • CD rates are fixed. If you open nearly any Citibank CD today, its annual percentage yield will stay the same until the CD expires. The exception for Citibank is its step-up CD, offered for a 30-month term, which has two built-in rate increases.

    • Be aware of two common rules with CDs: You can’t make partial withdrawals or add additional funds after depositing money into a CD. Withdrawals of interest already earned are allowed for standard and step-up CDs, but not no-penalty CDs.

    • You lose interest if you withdraw early. CDs are built to keep your money out of sight, out of mind. If you dip into almost any Citibank CD before it expires, there’s an early withdrawal penalty, which means losing some or all of the interest you earned. There is one exception in Citibank’s case:, its 12-month no-penalty CD. (Compare this with other no-penalty CDs.)

    • Interest accrues in a CD during the term, so you can benefit from compound interest. Alternatively, you can request to receive interest during the term to an external account or by check.

    • CDs auto renew unless you opt out. In addition, no-penalty and step-up CDs automatically renew into standard CDs of the same term length as the original CD. To avoid renewal, withdraw during the grace period.

    • Compounding frequency doesn’t often help you compare rates. Like a savings account, a CD’s rate is primarily quoted as an annual percentage yield (APY), meaning the annual interest rate that factors in compounding. You can compare two interest rates with different compounding periods using APY. Alternatively, if you only know a CD’s interest rate, you need to know the compounding frequency — often daily or monthly — to estimate your return. Learn more about APY vs. interest rate.

    » Unsure about CDs? Consider the best high-yield savings accounts instead

    Ready to choose a CD?

    View a curated list of our picks based on competitive rates and terms.

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    The information related to Citi certificates of deposit has been collected by NerdWallet and has not been reviewed or provided by the issuer or provider of this product or service.

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