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Citibank CD Rates Review September 2022

Citibank CD Rates

Citibank CD Rates Reviewed

Citibank Logo

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.

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.

Citi Bank CD Rates

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. – Citibank CD rates are quite horrible. 

As you can see in the table below 5 years Citibank CD rate is only 1.01% APY. 

CD TermMinimumCD Rates (APY)
3 Month$0.05%
6 Month$01.10%
9 Month$01.10%
12 Month$02.50%
18 Month$02.75%
60 Month$01.01%

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

Citibank CD Promotion 2022

Update September 2022:

Citibank continues to raise the rates on their promotional CDs (certificates of deposit) this month. Leading the way is Citbank’s 1 year CD rate with now features an APY of 2.50% – up from 2.00% in July. Citibank also raised its 18-month CD rate by 0.40% to 2.75% for September 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 4.50%.

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 Guaranteed Annuity Rates

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

Get a Free CD Type Annuity Quote

Fill out the form below to receive a free annuity quote or use one of our annuity calculators.

Today's Top CD Rates

3 Month CD Rates

Best 3-Month CD RatesRateTermMinimum
Spectrum Credit Union 0.50% APY3 Months$500.00
Navy Federal Credit Union0.40% APY3 Months$1,000.00
Chevron Federal Credit Union0.50% APY3 Months$500.00
Luana Savings Bank0.55% APY3 Months$1,000.00

Best 1 Year CD Rates

Best 12 Month CD RatesRateMinimum
Citibank2.50% APY$1,000.00
Live Oak 1.75% APY$2,500.00
Limelight Bank1.25% APY$1,000.00
Lafayette Federal Credit Union0.80% APY$5,000.00

2 Year CD Rates

Best 2-Year CD RatesRateTermMinimum
Oceanview Harbourview Annuity3.50% APY24 Months$20,000
Connexus Credit Union 2.86% APY24 Months$5,000
Popular Direct2.30% APY 24 Months$10,000
BMO Harris2.25% APY24 Months$1,000
PenFed Credit Union1.25% APY24 Months$1,000

3 Year CD Rates

Best 3-Year CD RatesRateTermMinimum
Synergy Choice4.20% APY36 Months$100,000
Connexus Credit Union 3.01% APY36 Months$5,000
My Banking Direct1.40% APY36 Months$500
Lafayette Federal Credit Union1.01% APY36 Months500

4 Year CD Rates

Best 4-Year CD RatesRateTermMinimum
Nassau Simple Annuity4.35% APY48 Months$10,000
Connexus Credit Union 3.11% APY48 Months$5,000
NASA Federal Credit Union1.70% APY48 Months$500
Teachers Federal Credit Union1.30% APY48 Months$1000

5 Year CD Rates

Best 5-Year CD RatesRateTermMinimum
Ibexis MYGA Plus Annuity5.10% APY60 Months$25,000
Connexus Credit Union3.21% APY60 Months$5,000
BMO Harris2.80% APY60 Months$1,000
Teachers Federal Credit Union1.65% APY60 Months$1000

CD Interest 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 Certificate of deposit 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

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.

Jason Caudill, MBA

Jason Caudill, MBA

Jason is passionate about annuities and the important role they can play inside a retirement portfolio. He's distributed more than $1.5 Billion in annuities over a 17-year career; serving in many roles, including RVP at the largest independent Annuity Brokerage Firm, VP of Marketing at a top Insurance Company, and Regional Director in the Private Client Group at a Fortune 500 Company.

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