Citi® Savings Account Interest Rates for May 2023

"Singapore - April 11, 2012: Citibank offices in Singapore with people sitting in front and one business man passing by.
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Interest rates are conceptually intriguing in their duplicity. When high, they are either great for your savings or checking account or terrible for your mortgage payments. When low, they help fight inflation but also don’t earn you much on your active annual percentage yields, or APYs.

Whatever your next step is on your savings journey, whether it be a high-yield savings, money market or CD account, be sure you find the best rates for your financial situation. Your bank should fit into your savings goals, not the other way around.

Citi® Savings Account Overview

Citi has two savings account options available. There is the traditional Citi Savings account, but as another option, Citi offers a high-yield savings account known as the Citi® Accelerate Savings account. Depending on what Citi banking package you choose, the rates, average monthly balance or daily minimum balance requirements, and monthly fees can fluctuate.

Citi Savings Account Interest Rates

Citi Savings has a APY. There are six Citi banking account packages, which each include a Citi savings account, but be aware the package you select will affect whether you earn higher interest rates or not.

  1. Basic Banking Package
  2. Access Account Package
  3. The Citibank Account Package
  4. Citi Priority Account Package
  5. Citigold® Account Package
  6. Citigold® Private Client
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In select markets, Citi also offers the Citi® Accelerate Savings, which offers a considerably higher APY.

What Is Citi’s Savings Account Interest Rate?

Account APY
Basic Banking Package
Access Account Package
The Citibank Account Package
Citi Priority Account Package
Citigold® Account Package
Citigold® Private Client
Citi® Accelerate Savings

Is the Citi Savings Account Right For You?

Citi is best for you if you prefer a wide variety of banking products and services. Citi also offers a highly-rated website and mobile app, which makes your online banking experience all the more user-friendly.

The Citi® Accelerate Savings account is great for a high-yield savings option to grow your money with an APY well above the national average — unfortunately, it’s not available everywhere.

Where the Citi® Accelerate Savings Account Is Not Available

The Citi® Accelerate Savings account is not available to you if you live in the following states and districts:

  • California
  • Connecticut
  • District of Columbia
  • Maryland
  • Nevada
  • New Jersey
  • New York
  • Virginia
  • Select markets in Florida and Illinois

Citi Savings Rates Pros

  • Higher rates than the national average
  • Variety of banking packages to choose from
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Citi Savings Rates Cons

  • Citi savings rates are not available in several states
  • Increasing APY on a standard Citi Savings account requires you to open multiple accounts

Citi: Other Savings Options

If you want more than just a savings account option, Citi also offers a variety of CDs varying in term lengths and APYs. Be aware that CDs, unlike savings accounts, require you to leave the money untouched in the account until it has reached maturity in the agreed-upon term length. If you try to withdraw funds early you could be subject to early withdrawal penalties or may stop earning interest on the account.

Below is a breakdown of some of the CD accounts offered by Citi

Term Length APY
3-month CD
6-month CD
12-month No Penalty CD
5-year CD

Final Take To GO

The bottom line remains that though the Citi Savings account has a low APY, the Citi® Accelerate Savings account offers a competitive APY, which offers great growth potential. As many rates are dependent on how you bundle your Citi accounts, be aware of what each package can offer you and choose the best one suited for your needs.

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If you already do a majority of your banking through Citi, this may be the best option for your financial goals.


Here are answers to frequently asked questions about Citi savings account interest rates.
  • Is Citi a good high-yield savings account?
    • Yes, the Citi® Accelerate Savings account is a good high-yield savings account as it earns 4.05% APY, which is above the national average and a great way to grow your savings fund.
  • Which U.S. bank gives 7% interest on a savings account?
    • There is currently no bank in the U.S. that offers 7% APY on a savings account. To get a 7% interest rate on a bank account, you would have to consider moving your bank accounts outside of the United States, which has some disadvantages that could mean the higher APY isn't worth it.
  • How much interest will I get on $10,000 a year in a savings account?
    • If you were to put $10,000 in the Citi Accelerate® Savings account, which boasts an APY of 4.05%, after one year, you would have $10,385.
    • However, if you were to put that $10,000 in the regular Citi Savings account earning 0.05% APY, you would have just $10,005.
    • These estimations are based on a $10,000 deposit with no money being added through the year.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of May 4, 2023.

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.

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About the Author

Caitlyn Moorhead has written content for a variety of businesses and publications. After graduating from Central Michigan University cum laude, she moved to New York City where she wrote columns, articles and plays for several years before relocating to Austin, Texas in the fall of 2020.
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