Citibank CD Rates Review 2022

clerk counting cash money at bank office

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’s CD rates and compare them to the CD rates, savings accounts, money market, and annuity rates offered by the top Banks in the United States.

Citibank 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 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 0.15% APY. 

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 4.05%.

CD TermMinimumCD Rates (APY)
3 Month$0.05%
5 Month$0.05%
7 Month$00.25%
12 Month$00.10%
13 Month$00.10%
18 Month$00.10%
60 Month$00.15%

CDs vs Fixed Annuity

A multi-year guaranteed annuity (MYGA) 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 but usually higher than CDs.Varies by bank, term and investment amount.
LiquidityUsually, 10% annually or interest earned.Almost always accumulated interest.
GuaranteesBacked by Insurance Company & 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.

Term InsurerAnnuityRatingRateApply
2 Years Oceeanview logo OceanviewHarbourview 2A-2.85%
3 Years Sagicor life logo SagicorMilestone 3A-3.50%
4 Years Sagicor life logo SagicorMilestone 4A-3.70%
5 Years Security sentinel life logo Sentinel SecurityPersonal ChoiceB++4.05%
6 Years Oceeanview logo OceanviewHarbourview 6A-4.30%
7 Years Security sentinel life logo Sentinel SecurityPersonal ChoiceB++4.10%
8 Years Oxford life logo Oxford LifeMulti-Select A3.80%
9 Years Oxford life logo Oxford LifeMulti-Select A3.65%
10 Years Atlantic coast life logo Atlantic Coast LifeSafe HavenB++4.15%

Get a Free Annuity Quote

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

12 Month CD Rates

Best 12 Month CD RatesRateMinimum
Live Oak 1.75% APY$2,500.00
Limelight Bank1.25% APY$1,000.00
Lafayette Federal Credit Union0.80% APY$5,000.00
CommunityWide FCU0.75% APY$1,000.00

2 Year CD Rates

Best 2-Year CD RatesRateTermMinimum
Connexus Credit Union 2.86% APY24 Months$5,000
Oceanview Harbourview Annuity2.85% APY24 Months$20,000
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
Sagicore Milestone 33.50% 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
Sagicor3.70% APY48 Months$100,000
Connexus Connexus Credit Union 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
Milestone 53.85% APY60 Months$100,000
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 an annuity pay? Enter your initial investment amount, the fixed annuity or CD rate and 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.

If you would like to know how much interest you will earn monthly scroll past the bar chart below and click the monthly tab (just to the right of the annual tab). 

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 savings you can learn more about fixedCD Type Annuities here.

If you would like a personalized annuity quote you can contact us or use one of our fixed annuity calculators to see how much an annuity would pay you.

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

Citibank

Type Subsidiary of Citigroup
Products Credit cards, Mortgages, loans, Commercial, lines of credit
Parent Citigroup
Website citi.com

Source: Citibank – Wikipedia

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.

get an annuity quote

As Seen On:

NBC logo
ABC Logo
fox logo
MarketWatch logo
Investopedia logo
CBS logo

Client Reviews

Free Annuity Quote