bank rates

3-Month CD Still Citibank’s Best Bet

Citi cut some of its CD rates since last we looked.If you’re thinking about purchasing a CD from Citibank, I have bad news for you.

Since my last review, long-term CD rates are even worse at this New York, N.Y.-based big bank with more than 1,000 branches.

In less than two months, Citi has dropped its 60-month CD rate by more than a quarter of a percentage point to just 0.75% APY.

I’d like to point out that the old rate didn’t beat the average annual yield offered by large banks and thrifts.

So the new rate is … not good.

Citi’s only above-average rate can be found in the 3-month term.

Before you get too excited, it’s 0.15% APY versus an average rate of 0.13% APY.

But, to be fair, there’s little to get excited about in short-term CD rates these days. The top nationally available 3-month CD rate on our CD Rates Leaderboard is only 0.66% APY.

Citi can vary its CD rates by the 16 regions it divides the United States into, so you should put in your ZIP code on the website.

The majority of states fall into its “national region.” With a minimum deposit of $500, Citi’s current CD rates for those savers are:

6-month CD rate is 0.15% APY versus an average rate of 0.20% APY. (Leaderboard leader is 0.93% APY.)

12-month CD rate is 0.25% APY versus an average rate of 0.31% APY. (Leaderboard leader is 1.10% APY.)

24-month CD rate is 0.30% APY versus an average rate of 0.48% APY. (Leaderboard leader is 1.25% APY.)

36-month CD rate is 0.45% APY versus an average rate of 0.63% APY. (Leaderboard leader is 1.42% APY.)

60-month CD rate is 0.75% APY versus an average rate of 1.03% APY. (Leaderboard leader is 1.85% APY.)

You can learn more about Citi at or call 800-374-9500.

There are definitely better deals out there, and you’ll find them if you compare Citi’s returns with the best CD rates from scores of other banks in our extensive database.

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