Our experts answer readers' banking questions and write unbiased product reviews (here's how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.
Citi (Member FDIC) has two savings account options: the Citi® Savings Access and Citi® Accelerate Savings.
The Citi® Savings Access is available in markets where there are Citi branch locations; Citi® Accelerate Savings is an online account for people who live in markets where there are no brick-and-mortar locations.
Citi Savings Account Rates
Citi® breaks its accounts into six "packages." Each package comes with different benefits.
Here are the packages with their APY based on the zipcode of 90015 (in this area, you'd only be eligible for the Citi® Savings Access):
- Access Account: 0.05% APY
- Basic Banking: 0.05% APY
- The Citi Account: 0.05% APY
- Citi Priority: 0.10% APY
- Citigold® Savings Account: 0.12% APY
- Citigold Private Client: 0.35% APY
Higher-tiered accounts come with a few cons, too, such as higher monthly service fees and more stringent requirements to waive monthly fees. You may choose to open a corresponding checking account within your package, or you may just want to open the savings account.
Compare savings accounts
Compare Today's Savings Rates
Citi Savings Account Rates vs. Citi Accelerate Savings Account Rates
The Citi® Savings Access is a regular savings account, and the Citi® Accelerate Savings is a high-yield savings account that pays you a higher rate if you have a $1 minimum balance.
You may earn 0.05% to 0.35% (vary by location) APY on the Citi® Savings Access, depending on which package you choose. Meanwhile, the Citi® Accelerate Savings pays 4.25% (vary by location) APY on all packages.
Citi® Accelerate Savings is a high-yield savings account that pays a competitive rate, and it's clearly superior to Citi Savings — but you can only open an account if you're a resident of certain markets.
Here are the parts of the US where you cannot open a Citi® Accelerate Savings account:
- California
- Connecticut
- Select parts of Florida
- Select parts of Illinois
- Maryland
- Nevada
- New Jersey
- New York
- Virginia
- Washington, DC
However, if you live in those states, you can open a Citi® Savings Access.
-
CloudBank 24/7 High Yield Savings Account
-
CIT Bank Savings Connect Account
-
UFB High Yield Savings
Citi Savings Rates Pros and Cons
| Pros | Cons |
|
|
How Citi Savings Accounts Compare
Citi Savings vs. Wells Fargo Savings
Deciding between Citi and Wells Fargo will ultimately depend on where you live. If you live in a state that offers the Citi® Accelerate Savings account, then Citi is the clear winner.
However, if you're only eligible for the Citi® Savings Access, the best option for you will depend on which package you choose. The Wells Fargo Way2Save® Savings Account pays 0.15% APY, which is higher than Citi's lower tier packages. If you get the Citi Private Client package, however, you'll be able to get a slightly higher savings rate.
You could also end up paying more in monthly fees with Citi, depending on which package you open. High monthly fees might cancel out any earnings from a higher rate.
Citi Savings vs. Bank of America Savings
Similar to Citi's package system, Bank of America has various membership tiers that offer higher rates. However, the lowest membership pays just 0.01% APY, and you have potential to earn more with a higher-tier Citi package than with a Bank of America Advantage Savings Account, regardless of where you live.
Again, Citi's monthly fees are higher than what Bank of America charges unless you qualify to waive the fees. Stiff fees could offset what you'd earn from a higher rate.
Why You Should Trust Us: How We Reviewed Citi Savings Accounts
We rate bank accounts on a scale from zero to five stars. For our Citi saving rates review, we used our bank account methodology, which looks at interest rates, minimum opening deposits, monthly service fees, customer support availability, mobile app ratings, and the ethics of the company to rate both savings accounts.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.