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The Citibank savings account interest rate for its Accelerate account is 0.50% APY. With that yield, which is higher than savings account interest rates at many other banks, the name makes sense. However, the rate for Citi’s basic savings account is lower, at 0.04%. Here’s a look at how the savings accounts measure up compared to other options.
Citibank interest rates, fees
Citi® Accelerate Savings interest rate | 0.50% |
Citi Savings interest rate | 0.04% |
How they compare | The average national rate for savings accounts is 0.06% APY. |
Monthly fees on Citi® Accelerate Savings and Citi Savings | $4.50. |
How to avoid monthly savings fees |
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Minimum opening deposit for savings | None. |
Citi® Accelerate Savings availability |
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Account linking availability | You can link your Citi® Accelerate Savings or Citi Savings account in any Citi banking package. Note that the Elevate package is available only where Citi® Accelerate Savings is available. |
» Check out high-interest rate options with NerdWallet’s best high-yield online savings accounts
How Citibank compares to online banks
Large banks tend to have accounts with higher monthly fees and lower rates for savings. Citibank’s savings accounts do have monthly fees, and its basic Citi Savings account has a low rate.
However, Citi® Accelerate Savings — available in select markets — offers a much better return. And the monthly fee is relatively easy to avoid. If the account is available in your market, it's worth a look.
If Accelerate savings is not available to you, however, you have other options at online banks. Along with higher rates, many online accounts come with no monthly fees or minimum balance requirements.
» Learn more: Read NerdWallet’s Citibank review
How much interest could you be earning? Find out with the calculator below. The higher the rate, the faster your money can grow.
Deposits are FDIC Insured
One Save
1.00%
$0
Member FDIC
Comenity Direct High Yield Savings Account
0.55%
$0
Savings calculator
» Find this month’s best savings account rates in NerdWallet’s best savings rates
The information related to the Citi Savings account has been collected by NerdWallet and has not been reviewed or provided by the issuer or provider of this product or service.
