After decades of low returns, yields for parking your money in a savings account are finally getting a boost, though this isn’t true for every bank.

Citibank, the retail banking division of Citigroup, offers a variety of savings accounts for customers with different goals. Most of its accounts still offer paltry annual percentage yields (APYs), but Citibank now offers a high-yield savings option that may be worth looking into. (Here’s how it compares to the best high-yield savings accounts.)

Citibank earned an overall Bankrate score of 4.5 out of 5 and a rating of 4.8 out of 5 for savings accounts.

Citibank savings account interest rates

Citibank savings rates depend on the type of account, of which there are a few to choose from.

The Accelerate Savings account is Citibank’s high-yield option that must be opened online or through the Citibank mobile app. The APY is the same for all balances, and the account isn’t available in some markets.

Here’s a closer look at Citibank’s Accelerate Savings Account:

Account name APY Minimum deposit
Citi’s Accelerate Savings account 4.45% $0

Outside of Citibank’s Accelerate Savings Account, yields at Citibank are pretty low.

Citibank offers its Citi Savings account, which offers a low APY and comes with a monthly service fee. You can waive the $4.50 monthly fee by linking a Citibank checking account, maintaining an average monthly balance of at least $500 or by qualifying for a relationship tier (which you can get if you maintain a certain balance for a few months). Additionally, the fee will be waived for new customers for three months.

The relationship tiers come with enhanced benefits, including no monthly fees and fee-free withdrawals from non-Citibank ATMs. But at the time of Bankrate’s review, all tiers earn the same balance.

Here’s a closer look at the Citibank Savings account.

Account name APY Minimum balance required to earn yield*
Note: Annual percentage yields (APYs) shown are as of April 19, 2024, and may vary by region for some products.
*To qualify for a relationship tier, you must maintain the minimum balance for at least three months.
Citi Savings 0.03% $0
Citi Savings Priority Relationship Tier 0.06% $30,000
Citi Savings Citigold Relationship Tier 0.09% $200,000
Citi Savings Citigold Private Client Relationship Tier 0.12% $1,000,000

The Citi Savings account has an introduction rate in certain locations.

How Citigroup savings interest rates compare to top-yielding banks

Citi’s Accelerate Savings account is a solid choice if you’re looking for a competitive yield from a big bank, but it’s not available in:

  • California
  • Connecticut
  • District of Columbia
  • Florida (part)
  • Illinois (part)
  • Maryland
  • Nevada
  • New Jersey
  • New York
  • Virginia

Savers in these states who want competitive yields and are comfortable with internet banking may want to consider an online bank. Bask Bank and EverBank are among the digital banks offering some of the highest rates.

Other savings options at Citibank

Citibank’s Accelerate Savings account is likely the bank’s best option for savers who live in states where it’s available. Citi also offers a wide range of certificates of deposit (CDs) with terms from three months to five years.