bank rates

Citibank Cuts 5-Year CD Rates

Citibank logoThe only term that’s changed since we last reviewed CD rates at Citibank is the 60-month term, which has dropped to 0.60% APY from 0.75% APY.

And that’s probably the best news you’ve read recently about this New York City-based big bank with more than 1,000 branches.

Citi’s 60-month CD rates are now more than a third of a percentage point below the average annual yield that large banks and thrifts pay for the term, which is a paltry — and record low — 0.92% APY for the second week.

If you head to the CD Rates Leaderboard, you’ll find two banks there offering a much higher 1.80% APY.

Granted, that’s not great — but it’s still a heck of a lot better than what Citi and other big banks pay.

And that doesn’t apply just to the 60-month term.

With a minimum deposit of $500, Citibank offers a:

3-month CD rate at 0.15% APY versus an average rate of 0.13% APY. (Leaderboard leader is 0.65% APY.)

6-month CD rate at 0.15% APY versus an average rate of 0.19% APY. (Leaderboard leader is 0.91% APY.)

12-month CD rate at 0.25% APY versus an average rate of 0.29% APY. (Leaderboard leader is 1.12% APY.)

24-month CD rate at 0.30% APY versus an average rate of 0.45% APY. (Leaderboard leader is 1.30% APY.)

36-month CD rate at 0.40% APY versus an average rate of 0.56% APY. (Leaderboard leader is 1.40% APY.)

Citibank’s rates can vary by the 16 regions it divides the United States into, so you should type your ZIP code into the website. These rates are for the “national region,” which includes most states.

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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