January 17, 2024

Citi Savings Account Interest Rate

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Citibank boasts two savings accounts with varying rates and low fees. But which one should you open? Read on for all the details.

Citibank is one of the largest banks in the US. And, they have two savings accounts that can be offered to you: a basic Citi Savings Account and a high-yield Citi® Accelerate Savings Account.

But, their availability depends on where you live. How are they different? Read on to find out more.

Does Citi have a high-interest savings account?
Yes. Citi has a high-yield savings account called Citi® Accelerate Savings. But, it's only available in specific states.

Citibank Savings Account Interest Rates

Citibank offers two main savings accounts: Citi Savings and Citi Accelerate Savings. Citi Savings has a standard 0.03% APY. Meanwhile, Citi® Accelerate Savings offers 4.3% APY.

  • Citi® Accelerate High-Yield Savings: 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® Savings: Available in CA, CT, DC, MD, NV, NJ, NY, VA, and select markets in Florida and Illinois.

Let's take a closer look at each account!

How important is the interest rate when deciding on a savings account?

Citi Savings

The Citi Savings account allows users to earn 0.03% APY on balances ranging from $0 and $29,999.99.

There is no opening deposit or minimum balance requirement, but you'll have to pay a $4.50 monthly service fee. The fee is waived for the first three months after opening your account.

But to avoid fees altogether, you either need to have a Citi checking account or keep an average monthly balance of $500.

Citi Savings Availability
Citi Savings is only available to those with a residential address in these states: CA, CT, MD, NV, NJ, NY, VA, the District of Columbia, and certain areas in FL and IL.

Citi® Accelerate Savings

Citi® Accelerate Savings is a high-yield savings account featuring a 4.30% Annual Percentage Yield on all balances.

Just like Citi Savings, there is no opening deposit requirement, but a $4.50 service fee is imposed every month.

You can also waive these fees by maintaining a balance of $500 every month, or by owning a Citi checking account, or by qualifying for a relationship tier. The monthly service fee is also waived for the first three months after account opening.

Citi® Accelerate Savings Availability
Citi® Accelerate Savings is only available to those with a residential address in these states: AL, AK, AZ, AR, CO, DE, GA, HI, ID, IN, IA, KS, KY, LA, ME, MA, MI, MN, MS, MO, MT, NE, NH, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, WA, WV, WI, WY and select markets in FL and IL.

Citi Savings Relationship Tiers

Citi has a relationship program that offers perks that can include higher APY, waived fees, and more.

To be eligible, you need to maintain a Combined Average Monthly Balance (CAMB) across all your eligible deposit and investment accounts for three consecutive months.

There are three Relationship Tiers:[1]

  • Citi Priority: $30,000 to $199,999.99
  • Citigold®: $200,000 to $999,999.99
  • Citigold® Private Client: $1,000,000+

The information on Citi Priority, Citigold, and Citigold Private Client has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

CAMB Eligible Deposit and Investment Accounts inlcude:[2]
Regular Checking, Access Checking, Citi® Accelerate Savings, Citi Savings, Citi Miles Ahead Savings, Citibank Savings Plus, Certificates of Deposit, IRAs and Roth IRAs, CGMI IRAs and Roth IRAs, Investments in your linked Citigroup Global Markets Inc.(CGMI) Accounts, and annuity positions shown on linked CGMI Account Statements.

How Much Can You Earn in a Citibank Savings Account?

Check out this calculator to see how much interest you can earn with a savings account.

Savings Calculator

How long are you willing to lock in your funds to earn a higher interest rate?

Can You Lose Money with Citibank Savings?

No, you generally can't lose money with a Citibank Savings account. They are an FDIC-member (Cert #7213), meaning your deposits are insured up to $250,000 per depositor, per ownership category.

However, if you fail to waive the monthly charges, the fees can reduce your balance.

Pros and Cons


  • No opening deposit
  • No minimum balance
  • High APY for Citi® Accelerate Savings
  • Free debit card for Citi Savings
  • Protected by FDIC insurance
  • Simple mobile banking platform


  • $4.50 monthly service fee
  • Low APY for Citi Savings
  • High balance required to get higher APY for Citi Savings
  • Limited availability for Citi® Accelerate Savings

What is the main feature you look for in a savings account?

Should You Open a Citibank Savings Account?

If you're looking for a traditional account or a high-yield one, Citibank is a good place to start because they can offer both.

Citi Savings is ideal for those who prefer traditional accounts that offer easy access to their funds. Meanwhile, Citi® Accelerate Savings is best for eligible people who want to earn a good rate.

But remember, either account might not be accessible in all states. Check if you're eligible to open an account there first.

How to Open a Citibank Savings Account

To open a Citi Savings account, you can visit one of their physical locations or over the phone at +1-800-321-2484. But, for Citi Accelerate Savings, you cannot open one at a branch.

You can open an account online by following these steps:

  1. Go to Citibank's page and click Open an Account.
  2. Under Savings Account, click Open an Account.
  3. Fill out the application with your personal information.
  4. Submit and fund your account.

How to fund Citibank Savings Account?
To fund your savings account, you can directly go to a branch to deposit cash or a check or use your debit card. Online, you can fund your account using your debit card, or transfer money from another bank account.

How Citibank Savings Compares

Other Citibank Accounts

If a savings account doesn't fit the bill, Citibank also offers checking accounts and certificates of deposits (CDs) that you can consider.

Bottom Line

Citibank can offer you a savings account if you meet certain criteria, mainly on where you live.

If you don't mind earning low interest, Citi Savings is good if you simply want to stow your money away but have easy access to it.

Citi® Accelerate Savings, on the other hand, is ideal if you want to make your money work harder with a competitive APY.

Make sure to check your eligibility before you open an account at Citi. Ultimately, both are good savings accounts that can help you in your budgeting journey.


  1. ^ Citi Consumer Deposit Account Agreement. Relationship Tiers, Retrieved 11/08/2023
  2. ^ Citi Consumer Deposit Account Agreement. Simplified banking, Retrieved 11/08/2023
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.
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  • 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.
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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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How long are you willing to lock in your funds to earn a higher interest rate?
85% Not at all, I need constant access to my funds.
15% Up to 3 months
Source: CreditDonkey
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