CITIBANK HIGH YIELD SAVINGS: Citi Accelerate Savings Account

citibank high yield savings account rate and review
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Citibank is Citigroup’s retail banking division that provides a range of savings accounts for customers with various objectives. It also provides many of the benefits of a large bank and the conveniences of an online bank in one package. Its rates are competitive, however, the rates you receive are dependent on your location. While not all Citibank savings accounts give a favorable annual percentage yield, Citi-accelerate savings account is recorded to be the best high yield savings account as it comes with several benefits that can be stress relieving to their customers. This post gives a comprehensive review of Citibank high yield savings account and its savings rate. 

Citibank High Yield Savings Account

Citi Savings can be a fantastic way to keep your money safe and easily accessible, but its interest rates are typically modest compared to other options. You’ll find better rates often around 0.60% from banks or credit unions that only accept payments online. The following are some of Citibank’s high yield savings accounts and savings rates. 

#1.  Citibank Account Package 

Customers can link their savings accounts, other deposit accounts, retirement and investment accounts, and other accounts with Citibank through the Citibank Account Package. Customers must maintain a minimum balance of $10,000 across all valid linked accounts in order to avoid being charged a $25 monthly service fee.

Citibank high yield Savings Account Package Rate

Account Name

Interest Rate


Minimum Deposit
Citi Savings0.08%0.08%$0

#2. The Access Account Package

If a minimum amount of $500 is maintained in the Access Account Package and the account is not connected to a checking account, then the $4.50 monthly service fee is waived.

Citi Access Account Package Rate

Account Name

Interest Rate


Minimum Deposit
Citi Savings0.08%0.08%$0

#3.  Citi Priority Account

The Citi Priority account is a premium package that features improved perks such as fee-free withdrawals from non-Citibank ATMs and must be opened with a connected checking account. The monthly cost is $30, however, it is waived if all eligible accounts have a total minimum balance of $50,000.

Citi Priority Savings Account Rate

Account NameInterest RateAPYMinimum Deposit for APY
Citi Savings0.04%0.04%Below $10,000
Citi Savings0.06%0.06%$10,000-$24,999.99
Citi Savings0.10%0.10%$25,000-$99,999.99
Citi Savings0.12%0.12%$100,000-$499,999.99
Citi Savings0.15%0.15%$500,000-$999,999.99

CitiBank offers these high-yield savings accounts. However, as noted at the start of this post, there is one with numerous advantages. Let’s take a look at the Citi-accelerate savings account.

Citi Accelerate Savings Account

The Citi-Accelerate Savings account is an online savings account for customers who work comfortably with digital equipment eg phones or PCs. This account may be quickly started online in a few minutes, so customers can use Citi’s online banking features to keep track of their account balance, deposits, and other details. The Citi Accelerate-Savings account presently offers an interest rate that is up to 12 times greater than the national average, has no minimum balance to open, and has no limit on the amount of money you can earn. This is in line with, if not better than other high-yield savings accounts now giving the best rates. 

In addition, Citibank boasts 65,000 ATMs countrywide, making it the largest ATM network accessible by a major bank in the country. It’s also a fantastic alternative for people wishing to access their funds fast and without fees from practically anywhere in the United States.

Advantages of the Citi Accelerate Savings Account

The Citi  Accelerate Savings account has many advantages, one of which you can open a Citi Accelerate Savings account from the convenience of your home. You can open an account online with just your name, address, Social Security number, and date of birth without having to go to a physical bank office to do so.

This high-yield savings account also includes Citi online banking, which allows you to view all of your account information online or via the Citi mobile app. Hence, if you have a linked Citi checking account, the app allows you to manage all of your accounts including external accounts in one location using your favorite mobile device, and you can even deposit checks without having to physically submit them in person or via mail.

You also don’t have to worry about the safety of your money with this account. Not only is Citibank a large, national bank, but deposit accounts at the bank are FDIC insured for up to $250,000 (including principal and accrued interest) per depositor.

Lastly, there is no minimum balance requirement to open a Citi Accelerate Savings account, though you must deposit at least $1 to obtain the 0.50 % percentage yield. There are no monthly maintenance costs in case you hold a Citi Elevate Account Package checking account or have an average monthly balance of $500 or more.

Disadvantages of the Citi Accelerate Savings Account

In case you are not able to comply with the requirements, you’ll be charged a $4.50 monthly service cost and a $2.50 non-Citibank ATM fee. because even at 0.50 % APY, the Citi Accelerate Savings account isn’t worth the monthly service charge.

Furthermore, with a Citi Elevate Account Package, you can avoid the Citi Accelerate Savings monthly maintenance fee if you already have or open a Citi checking account. It’s also possible to save $500 monthly if you have enough money saved up. Thus, the best online savings account for beginners is one that has no monthly fees.

The Citi Accelerate Savings account is available in most states and regions, however, there are some exceptions. Simply enter your zip code to see if your area is covered by the account.

Citi Accelerate Savings Account Rate

The Citi accelerate savings account comes with good perks and high yield as mentioned earlier but not having a Citi Elevate/Access Account Package or not maintaining a monthly balance of $500 or more will result in a $4.50 monthly service fee. 

Below is the rate for Citi accelerate high yield savings account of Citibank   

Account Name


Minimum Deposit
Citi’s-accelerate Savings account0.60%$0

Citibank High Yield Savings Account Review

Basically, this section will be giving a sort of summary/review of what a Citibank high yield savings account is and what it is not. This review will center more on what Citibank offers alongside its high yield savings account. 

Review of What Citibank Offers

Citibank offers a comprehensive range of accounts and services, as one would expect from a large financial services company.

#1. Checking Accounts 

Customers can choose from five regular checking account packages and one high-yield checking account package, depending on their needs. Evidently, there is no minimum opening down amount for any checking account package. So if the minimum conditions are not met, each checking account package costs a monthly service fee.

The following are the options for checking account packages:

  • Access Account
  • Basic Banking
  • The Citibank Account
  • Citi Priority
  • Citigold
  • Citigold Private Client

#2. Citibank High yield Savings Account

A savings account is included in each of the five standard checking account packages. Also, Citibank checking account package is required to open a CitiGold Private Client savings account. This savings account cannot be opened without first opening a checking account.

Meanwhile, to open a savings account, no minimum deposit is necessary. There is no monthly service cost on this account too, but it must be part of a Citibank checking package.

#3. Money Market Account

The CitiBusiness Account is a short-term market-rate money market account that is insured by the Federal Deposit Insurance Corporation (FDIC). All checking packages, with the exception of the Access Account package, allow account owners to write checks. Hence, the Citi Savings Account is only available as part of a Citibank checking package, and there is no monthly service fee.

#4. Certificates of Deposit (CDs)

Citibank offers three CDs with distinct features. All CDs need an initial deposit, but larger deposits provide higher rates.

In the first case, a fixed-rate CD with a term of three to five years A Step Up CD is another option, with a 10-month rate increase. Finally, a CD earns guaranteed interest but allows withdrawals at any time.

Also, A 90-day basic interest penalty applies to 1-year CDs and an extra year on a CD means 180 days of easy interest.


To summarize, the Citi Accelerate Savings account offers numerous benefits, one of which is the ability to open a Citi Accelerate Savings account from the comfort of your own home. This high-yield savings account also comes with Citi online banking, which allows you to check all of your account information online or on your mobile device. The app allows you to manage all of your accounts in case you have a Citi checking account linked to it. If you cannot meet the conditions, you will be charged a $4.50 monthly service fee as well as a $2.50 non-Citibank ATM fee.


What is Citi High Yield savings rate?

The Citibank Citi Accelerate High Yield Savings account saw its first rate increase in nearly 4 years this March when Citi bumped the APY up by 0.10% – from 0.50% APY to the current 0.60% APY.

Is Citibank a good bank?

Citibank is a good bank if you’re looking for solid full-service banking products and services and access to plenty of fee-free ATMs. If you’re also looking to earn the best interest rates on your deposits, you may find better rates at an online bank.

What is Citi accelerate?

In Citibank, review shows that Citi-Accelerate high yield savings give you the ability for eligible accounts to earn a high everyday rate regardless of balance, Automatic transfers with AutoSave, Security of FDIC insurance, Convenient account access through Branch, ATMs, Citibank Online, Citi Mobile, or CitiPhone Banking

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