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On This Page
- At a glance
- Overall
- Citibank bank products
- Bank fees
- Customer experience
- About Citibank
- How does Citibank compare to other banks?
- Citibank FAQs
- Review methodology
At a glance
Best mobile banking app
4.5
Rating: 4.5 stars out of 5
Bankrate Score
CDs
Rating: 4.5 stars out of 5
Checking
Rating: 4 stars out of 5
Savings
Rating: 4.8 stars out of 5
About Bankrate Score
Overview
Citibank is a good option for savers looking for an institution with global reach and the fullest possible range of deposit and lending products. People who live in areas eligible for Citi’s Accelerate Savings can earn a top-tier APY. But unlike other online banks, you’ll need to have a Citi checking account or keep at least an average monthly balance of $500 in order to avoid the $4.50 maintenance fee.
Highlights
- 24/7 Customer Service
- Digital Leader
- Large Branch Network
Compare offers
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Savings Account
5.00
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 3/10/2024
Rating: 4.9 stars out of 5
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer: Plus, no monthly fees and unlimited free external transfers
LendingClub
Member FDIC
Savings Account Details
5.00
%
APY
$0
Min balance for APY
Offer rate as of3/10/2024
Interest rate5.00%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Plus, no monthly fees and unlimited free external transfers
Member FDIC
Savings Account
4.35
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 3/10/2024
Rating: 4.9 stars out of 5
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$1
Min. balance for APY
Promoted offer:
American Express
Member FDIC
Savings Account Details
4.35
%
APY
$1
Min balance for APY
Offer rate as of3/10/2024
Interest rate4.26%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC
Savings Account
4.50
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 3/10/2024
Rating: 4.7 stars out of 5
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer:
Marcus by Goldman Sachs
Member FDIC
Savings Account Details
4.50
%
APY
$0
Min balance for APY
Offer rate as of3/10/2024
Interest rate4.50%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Savings Account
4.9
Rating: 4.9 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
5.00
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 3/10/2024
$0
Min. balance for APY
Promoted offer: Plus, no monthly fees and unlimited free external transfers
LendingClub
Member FDIC
Savings Account Details
5.00
%
APY
$0
Min balance for APY
Offer rate as of3/10/2024
Interest rate5.00%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Plus, no monthly fees and unlimited free external transfers
Member FDIC
Savings Account
4.9
Rating: 4.9 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.35
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 3/10/2024
$1
Min. balance for APY
Promoted offer
American Express
Member FDIC
Savings Account Details
4.35
%
APY
$1
Min balance for APY
Offer rate as of3/10/2024
Interest rate4.26%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC
Savings Account
4.7
Rating: 4.7 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
4.50
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 3/10/2024
$0
Min. balance for APY
Promoted offer
Marcus by Goldman Sachs
Member FDIC
Savings Account Details
4.50
%
APY
$0
Min balance for APY
Offer rate as of3/10/2024
Interest rate4.50%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Member FDIC.
Savings Account
0.0
Rating: 0 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
5.25
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 3/10/2024
$0
Min. balance for APY
Promoted offer: No fees. Easy deposits and quick withdrawals.
Jenius Bank
Member FDIC.
Savings Account Details
5.25
%
APY
$0
Min balance for APY
Offer rate as of3/10/2024
Interest rate5.25%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
No fees. Easy deposits and quick withdrawals.
Member FDIC
Savings Account
4.2
Rating: 4.2 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
5.05
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 3/10/2024
$5,000
Min. balance for APY
Promoted offer: CIT Bank, a division of First Citizens, 125+ years of experience.
CIT Bank
Member FDIC
Savings Account Details
5.05
%
APY
$5000
Min balance for APY
Offer rate as of3/10/2024
Interest rate4.93%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
CIT Bank, a division of First Citizens, 125+ years of experience.
Overall
Citibank is among the world’s largest financial institutions, with well over $1 trillion in assets. It offers a comprehensive selection of banking products, including various CDs and multiple checking and savings accounts. Obtaining competitive yields on savings accounts at Citi will depend on where you live and whether you’re eligible for its Accelerate Savings account.
Citi has more than 65,000 fee-free ATMs. The bank also has more than 600 branches.
And Citi earned Bankrate’s best mobile banking app honor in the 2024 Bankrate awards.
Pros
Those in eligible markets for the Citi Accelerate Savings are able to earn a competitive yield on their savings accounts.
As one of the largest banks, Citibank offers unique advantages that come with scale, including global coverage in terms of branches and ATMs.
Citi’s mobile banking app is very well-regarded.
Citi tends to have bank account bonus offers available for new customers who open a new account.
Cons
The yields offered on deposit products are generally on the low side in certain markets.
Citi’s banking service packages charge monthly fees if accounts fall below minimum balance thresholds.
The Citi Accelerate Savings account is not available in a number of states.
The Citi Accelerate Savings account requires you to have a checking account in the Access Account Package or have at least a $500 monthly average balance to avoid the $4.50 monthly service fee. Generally, online banks don’t have requirements like this.
Citibank banking products
4.8
Rating: 4.8 stars out of 5
Bankrate Score
Compare top savings rates
FEATURES
Citibank savings overview
The Citi Accelerate Savings account has been paying a competitive yield since it launched a few years ago, but it’s only available in select markets.
There is no minimum opening deposit. However, you must maintain an average monthly balance of $500 to waive the $4.50 monthly service fee.
Having both checking and savings accounts at Citi can help you avoid monthly service fees.
The Citi Savings Account isn’t known for having a competitive yield. But the Citi Accelerate, if it’s available in your area, is known for offering a yield comparable to some online banks.
During our review, there was a promotional interest rate offer for existing or new Citi Savings account customers who deposit at least $25,000. Even with a competitive rate for six months, the APY was well below Bankrate’s national savings average.
Pros
The Citi Accelerate Savings account offers a competitive APY.
There’s no minimum deposit required to open a Citi Accelerate Savings account.
Cons
The competitive APY is available only in select markets; otherwise, customers earn a very small yield.
You need to keep an average monthly balance of at least $500 to waive the $4.50 monthly service fee. Many online savings accounts don’t have these requirements.
-
See how rates for this account have changed over time.Interact with the trend lines to view APY by date.
Citibank
APY
APY
National average APY
How do we get this data?
Citibank savings rates
Date
Citibank
APY
APY
National average APY
Compare Offer
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Savings Account
5.00
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 3/10/2024
Rating: 4.9 stars out of 5
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min balance for APY
LendingClub
Member FDIC
Savings Account Details
5.00
%
APY
$0
Min balance for APY
Offer rate as of3/10/2024
Interest rate5.00%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
Plus, no monthly fees and unlimited free external transfers
Promoted offer: Plus, no monthly fees and unlimited free external transfers
4.5
Rating: 4.5 stars out of 5
Bankrate Score
Compare top CD rates
FEATURES
Citibank CD overview
Citibank offers a wide selection of CDs, giving consumers more variety of terms than they’ll get at most other banks. Besides offering the standard terms, it also has a no-penalty CD (with a one-year term) and a step-up CD.
Bankrate found that neither the no-penalty CD nor the step-up CD had a competitive composite APY, though availability and yields may vary by market. (A composite APY is the average of interest rates divided by the number of years in the term of the CD.)
A few of Citi’s CD terms (particularly, 9-month, 11-month and 15-month CDs) had very competitive yields during Bankrate’s review. However, some yields were very low compared with other banks. Bankrate found the minimum deposit to open a CD was $500 during its review, but rates and/or minimum opening deposit requirements might vary by location.
Citibank offers IRA CDs, a product that some banks don’t offer.
Pros
The minimum deposit required to open a CD is low.
There is a wide selection of CD terms available.
Citibank offers IRA CDs.
Cons
Yields on most terms are very low compared with what online banks offer.
The grace period before automatic renewal is short (seven days rather than 10 days at some other banks).
Compare Offer
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
CD
5.05
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 3/10/2024
Rating: 4.9 stars out of 5
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$500
Min. deposit
14mo
Term
Marcus by Goldman Sachs
Member FDIC
CD Details
5.05
%
APY
$500
Min. deposit
14mo
Term
Offer rate as of3/10/2024
Minimum deposit$500
Expires 4/17/24. APY may change before CD is opened & funded.
Promoted offer: Expires 4/17/24. APY may change before CD is opened & funded.
4.0
Rating: 4 stars out of 5
Bankrate Score
Compare top checking rates
Citibank checking overview
Citibank offers two checking accounts: Access Checking and Regular Checking.
The Access Checking account, a checkless account, comes with a $5 monthly service fee. The Regular Checking account, which comes with unlimited checking, charges a $15 monthly fee.
Either fee can be waived if you qualify for a relationship tier or if you maintain at least $250 in direct deposits. Moreover, the fees will be waived for three months after opening the account. Both accounts come with access to more than 65,000 fee-free ATMs nationwide, but the bank charges a $2.50 fee for using an out-of-network ATM. Neither account charges overdraft nor returned item fees.
Qualifying for a relationship tier — such as Citi Priority, which requires you to maintain a monthly combined average of $30,000 — comes with extra benefits, including no fees for using non-Citibank ATMs.
Pros
None of Citibank’s checking accounts charge overdraft fees.
The monthly fee required for either account will be waived for your first three months.
The monthly fees are easy to waive with Citibank’s “Enhanced Direct Deposit,” which counts Zelle and other peer-to-peer transactions as direct deposits.
More than 65,000 fee-free ATMs are available nationwide.
Cons
Both checking accounts come with monthly service and out-of-network ATM fees, unless you qualify for a relationship tier.
Compare Offer
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
Checking Account
0.50
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 3/10/2024
Rating: 4.9 stars out of 5
Bankrate Checking rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
To open
$0
To avoid fees
SoFi
Member FDIC
Checking Account Details
0.50
%
APY
$0
To open
$0
To avoid fees
Offer rate as of3/10/2024
Minimum to avoid fees$0
Monthly fees$0
Overdraft/NSF fees$0
Out of network ATM fee$0
Has online accessYes
Compare more:Bankrate's best savings account offers
Bank fees
| Fee | Charged? | |
|---|---|---|
| Overdraft fee | None | |
| Non-sufficient funds fee | None | |
| Monthly maintenance fee | Depends on the account | |
| Out-of-network ATM fee | $2.50 | |
| Excessive transaction fee | None |
Find out:Tips to avoid common bank fees
Customer experience
Customer support
Physical presence. There are more than 670 Citibank branches in the U.S. and it supports customers in more than 160 countries. Account holders have access to more than 65,000 fee-free ATMs in the U.S. and thousands more overseas.
Mixed Customer Satisfaction. Citibank received mixed customer satisfaction scores in J.D. Power’s 2023 Retail Banking Satisfaction Study. For example, while Citi ranked above the region average in California and Florida, it ranked below average in Illinois and the New York Tri-State area.
by Goldman Sachs ranked second in J.D. Power’s 2023 Direct Banking Satisfaction Study among online-only banks offering savings products.
Digital experience
Highly rated mobile app. Citibank’s mobile app has a high rating on both the Apple App and Google Play stores. Collectively, more than four million users have reviewed the app. The app can be used to pay friends with Zelle, lock or unlock a card when it’s lost or stolen, set travel notices and even open a new account. Moreover, the app features educational financial tools for spending, budgeting and investing.
App drawbacks. There are occasional delays for transactions to post online, sometimes until the following business day, according to a Bankrate staff member with a Citibank account. Moreover, the transaction descriptions are minimal, making it difficult to connect them to your purchases. The interface is also updated frequently, which can be a good thing, but requires you to do some digging when things are moved around.
Bankrate staff insights
"I have found customer service — both over the phone and in-person at a branch — to be very kind and helpful, and I have never had a problem accomplishing whatever I needed to do," said a Bankrate staff member who uses Citibank personally. "But the chat features on the app makes it unclear whether you’re speaking with a bot or an actual representative. Responses here are significantly delayed and communication is not fluid."
Featured customer reviews
The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews. Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers. Some reviews may be edited for length and clarity.
Gain_Spirited
Feb 1, 2023
Good Citibank Experiences?
I have money in Citibank’s HYSA. They hold deposits a day or two longer than I like, but if you can get over that it's fine. It's a savings account so I'm not looking to move a lot of money in and out.
viaReddit
InfamousSea7547
Feb 1, 2023
Citibank Incorrect Fees
Are other people having issues with CitiBank charging incorrect fees? For the last 3 months, CitiBank has tried to charge my checking account a $15 monthly fee. I then have to spend 30+ mins contacting them and explaining that my accounts are supposedly linked and that I meet all the requirements for the fee to be waived. They usually blame the previous rep I worked with, refund the fee and say it will be fixed in the future, but it keeps recurring the 1st of each month.
viaReddit
Our editor's take
Citibank’s high-yield savings account is called Accelerate Savings, which is available in select markets. You can fund your account through recurring transfers or through one-time deposits, which you can make as a transfer from another bank or another Citibank account. It may take some time for the funds to show up in your account.
Monthly maintenance fees at Citibank can typically be waived if you meet certain criteria. If you’ve met the requirements but continue to be charged the monthly fee, it may be worth visiting a branch to fix the problem. If the issue persists, it may be worth filing a complaint with the Consumer Financial Protection Bureau and/or closing your account altogether.
About Citibank
Citibank’s roots stretch back to the City Bank of New York, which was established in 1812. By the late 19th century, it had grown into National City Bank, the largest financial institution in the United States at that time. The bank changed its name to Citibank in 1976 and moved to its current headquarters in Sioux Falls, South Dakota in 2011.
Citibank is the retail banking subsidiary of the multinational financial services company Citigroup.
Learn more:Citibank CD rates
How does Citibank compare to other banks?
Citibank vs. Chase
Citibank and Chase are among the top three largest banks in the United States, with both banks surpassing $1 trillion in assets.
Although both banks are also similar when it comes to fees, Citibank generally offers better yields on its deposit products, notably many of its CDs and its Accelerate Savings Account. Moreover, Citibank completely eliminated their overdraft fees, but Chase is still charging more than $30 per overdrawn transaction.
All that noted, Chase offers a larger branch network that’s available in just about every state. Chase also offers auto financing in addition to mortgages; Citibank only offers the latter.
Learn more:The best banks of 2024
Citibank FAQs
Review methodology
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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