Citibank Savings Account Interest Rate: How It Compares

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The Citibank savings account interest rate for its Accelerate account is 0.50% APY. With that balance-boosting 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 0.05% 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 | Citi Accelerate Savings and Citi Savings accounts are available in all Citi account packages with one exception. If you have an Elevate package, where available, you can only have Accelerate Savings. |
» 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.
How does Citibank compare?
APY0.50% With $0 minimum balance | APY0.55% With $0 minimum balance | APY0.50% With $0 minimum balance |
BonusN/A | BonusN/A | BonusN/A |
» 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.
Savings calculator
» Find this month’s best savings account rates in NerdWallet’s best savings rates