bank rates

Why Take Citibank’s CD Rates?

Although it claims to have highly competitive CD rates, that's only true if you consider competitive to mean less than average.Citi just might be the worst of the big banks when it comes to pathetic CD rates.

And that’s saying a lot when you consider most “deals” at these banks barely eke by average.

In Citibank’s case, average is just too much to hope for.

Nothing has improved at this big bank with more than 1,000 branches since I last posted about it at the end of May.

The 60-month CD remains Citi’s top offering. But now it’s below average for every state I checked.

(Citi’s CD rates differ by state or region; you can select your state for your specific rates at

Since March, Californians’ 60-month CD rate has dropped from 2.00% APY to 1.50% APY.

That’s the same rate savers in Florida, Illinois and Texas are earning. Sunshine State savers were getting 1.75% APY.

The “national region,” which covers the majority of the country, remains at just 1.25% APY.

The average yield offered by large banks and thrifts for 60-month CDs is 1.62%.

That doesn’t seem tough to beat.

MainStreet Bank, the current 60-month leader on our CD Rates Leaderboard, is paying 2.60% APY.

Other rates Citi offers for the national region:

3-month CD rates are still 0.15% APY vs. an average rate of 0.17% APY. (Top Leaderboard rate is 0.81% APY.)

6-month CD rates are still 0.20% APY vs. an average rate of 0.26% APY. (Leaderboard is 1.15% APY.)

12-month CD ratesare still 0.30% APY vs. an average rate of 0.44% APY. (Leaderboard is 1.33% APY.)

24-month CD rates are 0.50% APY, down from 0.60% APY, vs. an average rate of 0.66% APY. (Leaderboard is 1.50% APY.)

36-month CD rates are 0.90% APY, down from 1.01% APY, versus an average rate of 0.97% APY. (Leaderboard is 2.00% APY.)

It should be easy to find better deals than what Citibank has to offer.

You can start by comparing Citi’s returns with the best CD rates from scores of other banks in our extensive database.

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Comments (1)
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One Existing Comment
  1. Kathy at Bankaholic said:
    on August 29th at 10:49 am

    Citi’s 24-month and 36-month rates are even lower now.