Citi Bank High Yield Savings

The Citibank high yield saving account is a newer competitor in the high interest savings arena.  Their new high interest rate is at 2.36% APY though they caveat it for select markets only.  They ask you what state you live in before showing you if you can get the rate.  Definitely check on this.  There are no requirements on minimums to earn this and the high yield account is FDIC insured.

Citibank high yield savings

High Yield Savings Account Details:

  • Interest Rate:  2.36% APY ongoing.
  • Minimum amount:  $0
  • Fees:  Some fees but can be avoided with a $1,500+ average deposit**
  • Two Factor Authentication:  From what we could tell, they do have this
  • Phone app:  Yes

The brand name for this high interest account is the Citi Accelerate Savings account.

You can reduce fees by linking a checking and savings account.   Possible ways to have a fee include:  $4.50 fee if savings account is not linked to a checking account.  If an account is not linked, you’d want to have a deposit of at least $500 to avoid a fee.   $10 monthly fee for linked savings and checking account.  You can avoid this fee if “Make one qualifying direct deposit OR one qualifying bill payment per statement period OR maintain a $1,500+ combined average monthly balance in eligible linked accounts”.  Though definitely read the terms and conditions on this if you are concerned.

Our Impression

This is a great interest rate though its a large sized bank.  Generally, if I’m going to put my emergency savings or any savings into a bank, I want a larger one that’s FDIC insured.  And a good savings rate is a critical piece of any good personal financial plan.  The high yield interest account rate is one of the best.  Please see our list of best high interest accounts so you can compare our analysis of the best high yield savings account rates.

Who is CitiBank?

CitiBank has its origins as early as 1812 as the City Bank of New York and later became the First National City Bank of New York.  It has grown considerably since then to have 2,649 branches in 19 countries, including 749 branches in the USA.  Citibank is a subsidiary of Citi Group.  Interestingly the US Branches are concentrated in six major metropolitan areas which are New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami.  Though given how easy it is to bank online today, this really isn’t an issue.

** Please see the full terms and conditions on the website.  

We do our best to provide accurate information but sometimes make mistakes.  Please always read the offer terms and conditions so you understand everything about what you are signing up for.


Please enter your comment!
Please enter your name here