Updated September 12, 2023

Citi Accelerate High-Yield Savings Account Review

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Citi now offers high-yield savings with one of the best interest rate. But it's only available in select markets. Read this review to see if it's good for you.

Citi® Accelerate High-Yield Savings from Citi offers high interest with lower fees.

Can it stack up to the competitive rates offered by smaller (mostly online) banks?

Below, review the features, fees, and eligibility requirements.

Does Citibank have a high-yield savings account?
Yes, Citi Accelerate High-Yield Savings offers 4.30% Annual Percentage Yield (APY) in select markets only. It has no minimum opening deposit. It does carry a $4.50 monthly service fee (which can be waived by maintaining a minimum average daily balance of $500).

Who Is Eligible for a Citi Accelerate Savings Account?

Citi® Accelerate High-Yield Savings account is currently available in 42 U.S. states:

  • Alabama, Alaska, Arizona, Arkansas, Colorado, Delaware, select markets in Florida, Georgia, Hawaii, Idaho, select markets in Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Washington, West Virginia, Wisconsin, and Wyoming

Citi Accelerate is NOT available to:

  • California
  • Connecticut
  • Illinois
  • Maryland
  • Nevada
  • New Jersey
  • New York
  • Virginia

Current Citi High-Yield Savings APY

The current rate for the Citi® Accelerate High-Yield Savings is 4.30% APY. This is a competitive interest rate for today's low-yield environment.

In comparison, the national average rate for savings is 0.45% APY.

Here's a calculator that can help you see how much more interest you can earn with a high-yield savings account:

Compound Interest Calculator

Keep in mind, interest rates can change quickly. When the Federal Reserve lowers interest rates, banks make less profit from loans. As a result, they offer customers lower interest rates in return for their deposits.

Compare Savings Account Promotion

Citi Accelerate High Yield Savings Account details

  • APY: 4.30%
  • Monthly fee: $4.50 if you don't maintain at least $500 in the account
  • Available in AA, AE, AK, AL, AP, AR, AS, AZ, CO, DE, GA, GU, HI, IA, ID, IN, KS, KY, LA, MA, ME, MI, MN, MO, MP, MS, MT, NC, ND, NE, NH, NM, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VI, VT, WA, WI, WV, WY and select markets in Florida and Illinois.

Citi Accelerate Savings Relationship Tiers

You can apply to open a Citi® Accelerate Savings account regardless of your Relationship Tier status.

You won't have to bundle the savings account with their checking account if you don't want to. The tiers enables you to access more benefits and services.

Relationship Tiers range from bare-bones to several that are suitable for the ultra-rich (like their Citigold Private Client account).

Citibank Accelerate Pros and Cons


  • High APY — especially for a big national bank
  • No minimum opening deposit
  • Many account options
  • Relationship Tiers can offer a lot of perks, especially if you have multiple accounts with Citi


  • Not available to all states
  • Relationship Tiers can be confusing
  • Fairly high minimum balance requirement to waive the fee


Is Citibank a good high-yield savings account?
With a high 4.30% APY, the Citi Accelerate High Yield Savings is a good account. It has one of the best rates in the nation, especially for a large bank. It's also easy to waive the monthly fee with just $500 minimum balance. However, it's not available in all states.

If the Citi Accelerate High-Yield Savings account is not available in your state, check out these online savings accounts open to everyone nationwide.

Is Citi high-yield savings account FDIC insured?
Yes, Citi checking and savings accounts are FDIC insured up to the federal limit of $250,000 (learn more). This includes the combined deposits in your Citi checking and savings accounts.

How it Compares

Citibank isn't the only kid on the block when it comes to high-yield savings accounts. Let's review how Citi compares to some other rivals.

Compare Savings Account Offers

Bottom Line: Is Citibank Good for Savings?

Citibank offers a surprisingly competitive high-yield account for a big bank.

In fact, high net worth individuals will likely gravitate toward Citi in favor of the competitors listed above due to the additional benefits that extend far beyond basic banking.

While Citi does have minimum balance criteria to waive monthly fees, the amounts are low enough that anyone who would benefit from a high-yield account should be able to easily surpass them.

The main drawback is the complex Relationship Tiers / benefits structure. While Citi may offer a little something for everyone, it can be difficult to decide what you want with all the different options.

Note: This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

Member FDIC

Chase Total Checking® - $300 Bonus

Expires 10/16/2024
  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Bank of America
Member FDIC

Bank of America Advantage Banking - $200 Bonus Offer

Expires 9/30/2024
  • The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
  • The offer is for new checking customers only.
  • Offer expires 9/30/2024.
  • To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
  • Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
  • Additional terms and conditions apply. See offer page for more details.
  • Bank of America, N.A. Member FDIC.
Member FDIC

HSBC Premier - Earn Up to $2,500

Expires 11/22/2024
Start an HSBC Premier relationship today. You'll enjoy premium banking with both local and global benefits and access to wealth solutions offered through HSBC Securities, (USA), Inc*.

You could earn $1,500 or $2,500 if you open a new, eligible HSBC Premier checking account from July 1, 2024 through November 22, 2024, and complete qualifying activities.

  • Get a $1,500 Cash Bonus: Add New Money of $100,000 to $249,999 in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months.
  • Get a $2,500 Cash Bonus: Add New Money of $250,000+ in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months.
  • Cash Bonus will be deposited into your new checking account within 8 weeks of meeting all the offer requirements.
Discover Bank
Member FDIC

Discover® Online Savings - $200 Cash Bonus

Expires 9/12/2024

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY624 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/12/2024, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

CIT Bank
Member FDIC

CIT Bank Platinum Savings - 5.00% APY

  • 5.00% APY with a balance of $5,000 or more
  • 0.25% APY with a balance of less than $5,000
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC

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About CreditDonkey
CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

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