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 4.7 out of 5 for savings accounts.

Citibank savings rates

Citibank savings rates depend on the type of account, of which there are many 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 3.85% $0

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

Citibank’s Access Account, one of its standard savings accounts, is a checkless account that offers a low APY and comes with a monthly service fee. If the account isn’t linked to a Citibank checking account, you can waive the $4.50 monthly service fee when you maintain a minimum balance of $500.

Here’s a closer look at the Access Account Package.

Account name APY Minimum deposit
Citi Savings 0.05% $0

Next is the Citibank Account Package, which lets customers link other deposit accounts, including retirement and investment accounts.

Customers must maintain a minimum balance of $10,000 across all eligible linked accounts to avoid a $25 monthly fee. This account offers a paltry APY but does come with some extra perks, including Citi fee-free withdrawals from non-Citibank ATMs.

Here’s a closer look at the Citibank Account Package.

Account name APY Minimum deposit
Citi Savings 0.05% $0

The Citi Priority account is a premium package that comes with a linked checking account and includes enhanced benefits, including investment resources from Citi Personal Wealth Management and fee-free withdrawals from non-Citibank ATMs.

The monthly fee is $30, though it is waived with a combined minimum balance of $30,000 across all eligible accounts.

Here’s a closer look at the Citi Priority Account Package.

Account name APY Minimum deposit for APY
Citi Savings 0.10% Below $10,000
Citi Savings 0.10% $10,000-$24,999.99
Citi Savings 0.10% $25,000-$49,999.99
Citi Savings 0.10% $50,000-$99,999.99
Citi Savings 0.10% $100,000-$499,999.99
Citi Savings 0.10% $500,000-$999,999.99
Citi Savings 0.10% $1,000,000 or more

Lastly, the Citigold Account Package, which earns the highest APY outside of the Accelerated Savings account, is a premium package that requires a combined average monthly balance of at least $200,000 across linked deposit, retirement and investment accounts. The account comes without monthly service fees.

Here’s a closer look at the standard rates for the Citigold Account Package.

Account name APY Minimum deposit for APY
Citi Savings 0.12% Below $10,000
Citi Savings 0.12% $10,000-$24,999.99
Citi Savings 0.12% $25,000-$49,999.99
Citi Savings 0.12% $50,000-$99,999.99
Citi Savings 0.12% $100,000-$499,999.99
Citi Savings 0.12% $500,000-$999,999.99
Citi Savings 0.12% $1 million or more

Note: Annual percentage yields (APYs) shown are as of May 16, 2023, and may vary by region for some products.

How Citigroup savings 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 Bread Savings are among the digital banks offering some of the highest rates.

Other savings options at Citibank

Citibank’s Accelerate Savings account is probably 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.