Occasionally, we here at Peak Personal Finance like to bring you information on how certificate of deposit and other savings tools are performing at some of the nation’s leading financial institutions. Today, we’re looking at Citibank certificate of deposit rates.
Citibank is still the top ranking bank in the United States despite its recent financial problems. Citibank certificate of deposit rates depend on the total money invested in the certificates and the general economic conditions.
Citibank requires a minimum deposit of $500 for opening a CD account. The company offers a complete online product for its customers where they can open their accounts, accrue interests and can also sell these certificates. For a 12-month CD, Citibank offers an APY of 0.95%. An 18-month CD returns an APY of 1.05%.
A 2-year CD offers an APY of 1.25%. CD account rates for a 30-month certificate return an APY of 1.25%. A 3-year investment in these certificates will return an APY of 1.50%.
The company offers best CD rates for four and five year certificates of deposit. A 4-year CD returns an APY of 2.00% whereas a 5-year investment yields an APY of 2.50%.
The company also offers short term certificates of deposit. A 3-month CD returns an APY of 0.25%. A 4-month CD also returns an APY of 0.25%. A 5-month CD returns an APY of 0.45% and this rate is also applicable for 6-month and 7-month certificates. A 9-month CD returns a higher APY of 0.50%. A 13-month CD returns an APY of 1.01%. Option CDs are available at Citibank and they offer a uniform APY of 0.50%. APY are constant irrespective of the total amount of investments though the overall profits will increase in case of higher investments. The bank applies penalties in case of early withdrawals.
