bank rates

Citi’s CD Rates Simply Not Competitive

If there is good news to be had, most of Citibank’s CD rates are no worse than they were when we last looked two months ago at one of the country’s biggest banks.

That’s not saying much, though.Citibank's CD Rates Aren't Half As Good As Our Leaderboard Rates In Most Cases

Citibank’s rates remain so low just one yield is even half as good as the best nationally available returns you’ll find on our latest CD Rates Leaderboard.

What’s worse, the New York-based bank with its more than 1,000 branches nationwide doesn’t even compete in most cases with the average returns paid by large banks and thrifts.

As with many other big banks, Citibank’s CD rates differ by state or region.

One semibright spot: In some states, Citibank offers 60-month CD rates with above-average yields. These yields are still far below the national leader, Melrose Credit Union, which is paying 2.93% APY.

For example, Citibank is offering 60-month rates at 1.75% APY in California and Florida; they’re 1.50% APY in Texas and Illinois and only 1.25% APY in the majority of states.

Otherwise, other Citibank rates are below-average for most of the country:

3-month CD rate is 0.15% APY versus an average rate of 0.19% APY.

6-month CD rate is 0.25% APY versus an average rate of 0.30% APY.

12-month CD rate is 0.45% APY versus an average rate of 0.48% APY.

24-month CD rate is 0.60% APY versus an average rate of 0.73% APY.

36-month CD rate is 1.01% APY versus an average rate of 1.04% APY.

If your main concern is earning the best return possible, you can find much better CD rates from scores of other banks in our extensive database.

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Comments (2)
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2 Existing Comments
  1. Kathy O'Gorman said:
    on February 27th at 01:55 pm

    The 24-month rate is up slightly to 0.65% APY as of 2/27.

  2. Kathy at Bankaholic said:
    on April 3rd at 03:34 pm

    As of April 3, 2011, Californians can get a 60-month CD for 2.0% APY. But Citi’s 12-month rate has slipped to .40% APY. The 24-month rate is still at the higher .65% APY set in late February.