Citibank CD Rates Review January 2023

Citibank CD Rates Reviewed

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In this guide, we’ll review Citibank CD rates and compare them to the best CD rates, savings accounts, money market, and annuity rates offered by the top Banks in the United States.

Citibank is one of the largest banks in the United States. To give you an idea of just how big they are; on 10/14/2021 Citibank reported $4.6 Billion in net income for the 3rd Quarter of 2021.

Citi Bank CD Rates Today

Citibank’s CDs are excellent as far as the flexibility and the variety of shorter-term CDs available. However, generally speaking, when compared to other top bank CD rates in the U.S. – some of Citibank’s CD rates are quite horrible. 

It really just depends on the term.

As you can see in the table, Citibank’s 1 year cd rate is .30% while their 3-year rate is only .40%.

TermAPYMinimum Deposit
6 months4.15%$1,000
11 months*.05%$1,000
1 year4.15%$1,000
13 months.10%$1,000
18 months4.15%$1,000
2 years2.00%$1,000
3 years2.00%$1,000
4 years2.00%$1,000
5 years2.00%$1,000
*No-penalty CD

Visit Citibank’s website to compare more Citibank CD Rates.

Citibank CD Promotion 2023

Updated January 2023:

Citibank continues to raise its promotional CD rates (certificates of deposit) for January 2023 Leading the way is Citibank’s 11-month CD rate which now features an APY of 4.10% – up from 2.75% in October. Citibank also raised its 18-month CD rate to 4.75%for January 2023, up from 2.85% in October 2022.

If you are in the market for a high-yield savings vehicle a Fixed Annuity may warrant consideration. For example, our best 5 years fixed annuity rate is currently 5.80%.

Free CD-Type Annuity Quote

Fill out the form below to receive a free annuity quote within 4 business hours,
or use one of our annuity calculators.

CDs vs Fixed Annuity

A fixed annuity, often called a CD Type Annuity, is essentially a CD that is issued by an insurance company rather than a bank. The table below compares and contrasts some of the key differences and similarities between the two.

FIXED ANNUITYCD
Issued ByInsurance CompaniesBanks
Investment Amount$2,000 - $1,000,000Essentially Any Amount
Investment Term2 years - 10 years3 months - 5 years
Interest Rates (APY)Varies by product.Varies by bank, term and investment amount.
LiquidityUsually, 10% annually or interest earned.Almost always accumulated interest.
GuaranteesBacked by Insurer & State Guaranty Associations.Backed by the FDIC.
Death BenefitMay avoid probate.Probate process required.

Today's Best "CD-Type" Annuity Rates

Fixed annuity rates are guaranteed for a set number of years.

Today's Top CD Rates

3 Month CD Rates

BankRateMinimum Deposit To Open
Popular Direct4.05% APY $10,000.00
Citibank3.25% APY $500.00
America First Credit Union2.30% APY $500.00

Best 1 Year CD Rates

BankRateMinimum Deposit To Open
First Internet Bank4.75% APY $1,000.00
Popular Direct4.75% APY $10,000.00
Alliant Credit Union4.60% APY $1,000.00

2 Year CD Rates

TermBankRateMinimum
24 MonthsRising Bank3.80% APY$1,000
24 MonthsBread Savings3.75% APY$1,500
24 MonthsAmerican Heritage Credit Union3.75% APY$500
24 MonthsMerrick Bank3.70% APY$25,000
24 MonthsSynchrony Bank3.40% APY$.01

3 Year CD Rates

BankRateMinimum Deposit To Open
Alliant Credit Union4.60% APY $1,000.00
Popular Direct4.55% APY $10,000.00
BMO Harris4.50% APY $1,000.00

4 Year CD Rates

TermBankRateMinimum
48 MonthsBread Savings4.15% APY$1,500
48 MonthsAmerican Heritage Credit Union4.00% APY$500
49 MonthsNASA Federal Credit Union3.85% APY$10,000
48 MonthsMerrick Bank3.75% APY$25,000
48 MonthsPenFed Credit Union3.50% APY$1,000

5 Year CD Rates

BankRateMinimum Deposit To Open
BMO Harris4.50% APY $1,000.00
Bread Savings4.50% APY $1,500.00
Popular Direct4.50% APY $10,000.00

CD Rate Calculator

How much will a CD pay? Enter your initial investment amount, the fixed annuity or CD rate and the term in the calculator below then hit CALCULATE.

By default, you’ll see what your annuity or CD will be worth at the end of the investment term based on compounding interest and no withdrawals.

You can access more calculators on our retirement calculators page.

Key Take-Aways

A CD is very similar to a fixed annuity. If you are looking for a safe and steady way to grow your retirement a fixed annuity may warrant consideration. One thing to keep in mind is annuities have early withdrawal penalties that are usually more costly than a bank CD.

Citibank Contact Info

Citibank Phone Number

1-800-321-2484
(TTY 1-800-992-9833)
Mon-Sun: 9:00 AM to 11:00 PM ET

If you’ve already opened your CD and linked it to your Citibank checking or savings account, you can easily check the rate by viewing your statement.

Frequently Asked Questions

For new Citibank customers, please visit a branch or call us at 1-800-321-2484.

Citibank is an owned subsidiary of Citigroup and was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York. 
 

Citibank

TypeSubsidiary of Citigroup
ProductsCredit cards, Mortgages, loans, Commercial, lines of credit
ParentCitigroup
Websiteciti.com

While not FDIC insured, State Guaranty Associations provide a safety net for their state’s annuity policyholders. These Guaranty Associations guarantee policyholders continue to receive coverage (up to the limits spelled out by state law) even if their insurer is declared insolvent. Source: “Learn to Invest, Investment Types, Annuities, Fixed Annuities.”  Financial Industry Regulatory Authority (FINRA).  Visit FINRA’s Fixed Annuities Webpage

You can not lose money in a fixed annuity. However, guarantees are backed by the claims-paying ability of the issuing insurance company so it is important to consider an insurer’s financial rating when shopping for an annuity.

Shop More Bank CD Rates

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Marcus by Goldman Sachs CD Rates Review

Marcus offers a wide selection of CD terms ranging from six months to six years, including three no-penalty CDs (seven, 11 and 13 months), with above average rates. Marcus requires a low $500 minimal balance to earn interest.

Read More »

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