City National Bank Review: Great High APY CDs
Written by
Daria Uhlig
Edited by
Joe Evans
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City National Bank has various account options, and the CD rates are generally favorable.
City National Bank is a full-service financial institution with branch locations primarily in California, Nevada and the Eastern United States. Although fees can be high and rates are less competitive than competing banks', those who prefer to work with a community bank are likely to have a positive experience with City National.
City National Bank’s personal banking products include the usual suspects — checking, savings, and money market accounts and certificates of deposit — plus credit cards and loans. However, you should know that most accounts can’t be opened online — you’ll have to fill out a request form and wait to be contacted by a banker.
GOBankingRates has ranked it among the Best Premium Checking Accounts of 2025.
City National Bank’s Checking Account
City National Bank’s standard checking account is called Personal Checking. It’s a basic non-interest-bearing account for those maintaining a relatively high balance.
A better choice for clients who maintain a minimum $250,000 balance across City National Bank deposit, wealth management, and loan accounts is the Preferred Platinum Checking account, which made GOBankingRates’ list of the Best Premium Checking Accounts of 2025.
- City National offers four checking accounts. All four require a $1,000 minimum for a deposit.Â
- Maintenance fees can be waived if you keep a minimum balance. The minimum balance is $3,000 for Personal Checking.Â
- Preferred Platinum account holders have a $50 maintenance fee unless they have $250,000 over multiple accountsÂ
- Preferred Platinum account holders have access to cash flow advice, wealth management and retirement planningÂ
- FDIC insuredÂ
- Extensive ATM network
Best For
Premium Checking Account
Account Perks
Mobile App
Low Monthly Fees
Comprehensive Checking Options for Higher Balance Customers
Several solid checking account options, particularly for clients who can meet the higher balance requirements and don’t mind lower interest rates.
Fees
$25 monthly maintenance fees for Personal Checking Plus, $35 for Premium Checking, $50 for Preferred Platinum Checking
APY
Min Opening
Rates not disclosed online
Pros
- Large ATM network
- Monthly fee waived if you maintain certain balances
- Interest earned on Preferred Platinum (although it is minimal interest)
- Personalized service for Preferred Platinum members
Cons
- Higher minimum balance requirements
- Limited geographic locations
- Lower interest rate on accounts
Why We Like City National Bank
City National Bank excels in providing personalized, comprehensive financial services, particularly for clients who can meet its higher balance requirements. However, potential customers should be aware of the bank’s limited branch network and comparatively lower interest rates on standard deposit accounts.
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City National Bank’s Savings Accounts
City National has one non-money-market savings account. The Personal Savings account is a basic offering requiring just $50 to open and an average daily balance of $100 to waive the $5 monthly maintenance fee.
- Minimum opening deposit of $50
- APY
- Convenient ATM accessibility
- FDIC Insured
Best For
Premium Checking Account
Account Perks
Mobile App
Low Monthly Fees
A Standard Savings Account Offering
A basic, low APY savings account offering for someone looking to cover the basics.
Fees
$3 to $5 monthly fee for regular savings accounts if the balance falls below $200
APY
Min Opening
$50
Pros
- Low minimum to open an account
- Low maintenance fee that can be waivedÂ
- FDIC insured
Cons
- Low APY for savings account
- Monthly maintenance fee
- Limited in-person branches in geographic locations
Why We Like City National Bank
Although City National Bank has a savings account that requires a minimum opening deposit of $50, the low APY of may make another competitor’s offer more compelling.
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City National Bank’s CD Accounts
If you want a longer-term savings option that can pay better rates than a savings account, a certificate of deposit might be a good choice. City National Bank has varying term lengths from seven days to 60 months or more.
- Minimum deposit of $2500 for a CDÂ
- A $10,000 minimum is required for CDs with terms of up to 11 months
- FDIC insured
- Rates are to
- Automatic renewal of CDs
Best For
Premium Checking Account
Account Perks
Mobile App
Low Monthly Fees
Standard CDs for Safe Investor Returns
Investors looking for basic, no-frills CD options are a good fit for City National Bank’s accounts.
Fees
Standard early withdrawal penalties apply
APY
to
Min Opening
$2,500
Pros
- Varying CD lengthsÂ
- FDIC insured
- Guaranteed fixed returns
Cons
- Automatic renewal if you don’t cash out your CD
- High minimum deposit
- Early penalty withdrawal
Why We Like City National Bank
City National Bank offers flexible CD terms and FDIC insurance, but the minimum deposit and interest rate may make other bank CDs more appealing.
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City National Bank’s Money Market Accounts
City National Bank offers two money market accounts, one with a $2500 minimum and the other with $10,000. Both allow for unlimited transactions and have a range of to APY.
- Minimum deposit of $2,500 or $10,000
- Tiered interest rates based on balance
- Unlimited transactions
- Overdraft protection
- Can schedule automatic transfers
Best For
Premium Checking Account
Account Perks
Mobile App
Low Monthly Fees
Decent Money Market Options for High-Balance Investors
For higher-balance investors looking for solid rates and flexible money market options, City National Bank has them covered.
Fees
Monthly fees of $20 or $25 if they aren’t waivable
APY
to
Min Opening
$2,500
Pros
- Higher interest earnings
- FDIC insured
- Flexible access to funds
Cons
- High minimum balance requirements
- Monthly fees of $20 or $25 if they aren’t waivable
Why We Like City National Bank
City National CDs offer favorable rates for clients who keep higher balances and want flexible access to funds, but consideration should be given to the monthly maintenance fees and higher minimum balance requirements.
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Banking Experience
City National Bank provides a positive banking experience overall, especially for those who live near enough to a branch that they can take care of some banking needs in-branch.
Customer Service
You have several ways to reach out to City National Bank. Customer service is available by phone at 800-773-7100. Secure email is available through the bank’s website, and secure messaging is available via mobile banking.
Branch Availability
California residents have over 70 branches to choose from, and Nevada residents and folks who live in the New York metropolitan area have four and six branches, respectively. There’s just one branch in each of the other locations: Delaware, Florida, Georgia, Massachusetts, Tennessee, Virginia, and Washington, D.C., which also serves Maryland residents.
Mobile and Digital Experience
While City National Online makes it easy to manage your accounts, review statements, pay bills and get customer service assistance, you can’t open an account online — a major disadvantage for many consumers. Mobile banking offers the same services as online banking, plus check deposits and Zelle money transfers. The mobile app is available from the App Store and rates the app at 3.6 out of 5 stars. Google Play rates it 4.8 out of 5 stars.
Convenience
The concentration of offices in California makes visiting branches more convenient there than in the other locations where the bank operates. Online banking expands City National’s reach, but most accounts must be opened in-branch.
How Does City National Bank Compare?
City National isn’t the only bank competing for your business. Take a look at this comparison between City National and a few similar banks:
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$25 monthly maintenance fees for Personal Checking Plus, $35 for Premium Checking, $50 for Preferred Platinum Checking
$25 monthly, waivable
$35, waivable
APY
APY
APY
Min Opening
Min Opening
Min Opening
Rates not disclosed online
$25
$0
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$3 to $5 monthly fee for regular savings accounts if the balance falls below $200
$5 monthly
$5 monthly, waivable
APY
APY
APY
Min Opening
Min Opening
Min Opening
$50
$0
$0
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Standard early withdrawal penalties apply
No monthly service fee
No monthly service fee
APY
APY
APY
to
Up to
Up to
Min Opening
Min Opening
Min Opening
$2,500
$250 to $1,000
$1,000
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Monthly fees of $20 or $25 if they aren’t waivable
$12, waivable
No monthly service fee
APY
APY
APY
to
Starting at
to
Min Opening
Min Opening
Min Opening
$2,500
$0
$25
East West Bank vs. City National Bank
East West Bank and City National Bank serve similar markets, but East West has a better selection of checking accounts, including student and senior checking, with no monthly fees. But City National has a broader range of products overall, offering personal loans and lines of credit that aren’t available through East West.
Flagstar Bank vs. City National Bank
Flagstar Bank has far more deposit account options than City National, and it also offers loans and investing. However, as with City National, you’ll have to contact the bank to open an account.
M&T Bank vs. City National Bank
M&T Bank has a large selection of deposit accounts, most of which have fees that can be waived. But M&T has no branches in California, where City National has a strong presence.
Final TakeÂ
City National Bank is a good choice for customers who either live near one of the 70-plus branch locations or bank online and are comfortable with the limited account selection available that way. Detailed account information and easy-to-find data on rates and fees make the bank’s website very user-friendly — an important benefit, considering the large number of accounts available for prospective customers to review.
However, you’ll need to maintain high balances to get the most from City National accounts.
City National Bank FAQ
If you're considering City National Bank, this FAQ can answer your questions about their accounts, services, and fees.- Does City National Bank have free checking?
- City National Bank doesn’t offer a free checking account. They do have several accounts where the maintenance fee can be waived if you meet specific requirements.
- How much is the overdraft fee for City National Bank?
- Yes, City National Bank charges $36 each time an overdraft is paid. The bank limits up to six overdraft charges per day.
- Does City National Bank have high-yield savings accounts?
- City National Bank has a personal savings account that requires a minimum of $50 to open and has a 0.01% APY.
- Is Citibank different from City National Bank?
- Yes, Citibank and City National Bank are two different financial institutions. They have different ownership, service areas, and history
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 19, 2024.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
To determine rankings GOBankingRates looked at the following factors from all banks: (1) minimum deposit to open an account; (2) monthly savings fee ratio (percent the minimum to avoid fee compared to the monthly fee itself); (3) minimum needed to earn APY; (4) savings APY; and (5) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (2) and (3) weighed 1.5 times, factor (4) weighed 4 times; and factor (5) weighed 0.5 times. To be considered for the HYSA, the product offered had to have an APY above 0.45%. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 19, 2024.
To determine the Best Premium Checking Accounts of 2025, GOBankingRates looked at the following factors from the most premier or costly checking product from the top 25 banks (in terms of total assets): (1) total assets as sourced from the FDIC; (2) minimum deposit to open an account; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) APY on the checking account; and (6) associated and advertised benefits or perks from these premium products. All factors were then scored and combined, with the lowest score being the best. Factor (1) and (2) were weighed 0.5 times, and factor (6) was weighed 3 times. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 19, 2024.
