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Citi bank 11-Month Fixed Rate CD 5.25% to 5.65% APY

+17 Deal Score
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Citi Bank Certificate of Deposit Account
11-Month Fixed Rate CD
BALANCE

STANDARD APY 5.25% - 5.65%
STANDARD INTEREST RATE 5.12% - 5.50%
Balance - Below $100,000, STANDARD APY / STANDARD INTEREST RATE5.25% / 5.12%
Balance - $100,000+,STANDARD APY / STANDARD INTEREST RATE 5.65% / 5.50%

https://www.citi.com/banking/cd-account
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Citi bank 11-Month Fixed Rate CD 5.25% to 5.65% APY
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in Financial Tools & Services (4) Citi Banking - Bank Advertiser
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Joined Oct 2005
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> bubble2 4,602 Posts
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Elpee
12-18-2023 at 04:19 AM.
12-18-2023 at 04:19 AM.
Looks great. On the fence with Citi jumbo CD (>$100K). How about Grace Period? How many days do I have to fund from the time I open the CD and withdraw money from my CD once it reaches maturity? I'm asking because I'm not sure how fast to transfer money between Citibank CD account and my accounts at other banks.
TIA
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Joined Jul 2011
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eneka
12-18-2023 at 04:34 AM.
12-18-2023 at 04:34 AM.
Discover is offering 5.3% APY for 9months
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Joined Feb 2009
L3: Novice
> bubble2 288 Posts
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alpha_1976
12-18-2023 at 06:47 AM.
12-18-2023 at 06:47 AM.
Quote from Elpee :
Looks great. On the fence with Citi jumbo CD (>$100K). How about Grace Period? How many days do I have to fund from the time I open the CD and withdraw money from my CD once it reaches maturity? I'm asking because I'm not sure how fast to transfer money between Citibank CD account and my accounts at other banks.
TIA
"All CDs automatically renew at maturity for the same term at the rates in effect on the CD renewal date. There is a grace period of up to 7 calendar days after the maturity date. You can make a change during the grace period without penalty. The CD opening date (renewal date) and maturity date will reset if you make a change during the grace period, and you will not be able to make any changes until the next maturity date without penalty."
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Joined May 2020
I like good deals
> bubble2 93 Posts
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Yevdaslickdealer
12-18-2023 at 09:40 AM.
12-18-2023 at 09:40 AM.
Thanks OP! Already have a Citi account for my doublecash credit card so it was an easy process to set up a CD. Rate is slightly better than my Ally 5%.
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Joined Mar 2017
L1: Learner
> bubble2 24 Posts
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yvolnov
12-18-2023 at 09:54 AM.

Our community has rated this post as helpful. If you agree, why not thank yvolnov

12-18-2023 at 09:54 AM.
I would highly advise not going with Citi for any CDs. My wife and I opened a 3 month CD earlier in the year. After 3 months they claimed to have sent the check but we never received it. They persistently gave us the runaround saying it was handled by the "back office", which nobody could contact for some reason. After speaking on the phone with them approximately 15 times over 3 months, and receiving fake tracking information 3 times we got our money with the interest quoted, only at 6 months instead of 3.

Do yourself a favor and go with another bank. During this fiasco I talked to a friend of mine who used to work for Citi and he confirmed that their "back office"situation is a mess. I don't know what that means exactly, but I know I will never deposit my money with them again and would be doing a disservice if I didn't mention something here.
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Joined Jun 2013
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DaveDray
12-18-2023 at 10:04 AM.
12-18-2023 at 10:04 AM.
Quote from eneka :
Discover is offering 5.3% APY for 9months

So that's $10,530 in 9 months w/ 10k invested?
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Joined Dec 2020
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SociableShape885
12-18-2023 at 10:07 AM.
12-18-2023 at 10:07 AM.
Quote from DaveDray :
So that's $10,530 in 9 months w/ 10k invested?

No. APY = Annual Percentage Yield, so approximately $10,397 after 9 months at 5.3% APY
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Joined Nov 2022
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PurpleSardine227
12-18-2023 at 10:08 AM.
12-18-2023 at 10:08 AM.
You seem to have to convert to their "simplified banking". Which will charge you service fees unless you direct deposit $250 or more to your checking account.

Online banks like Discover or Capital One often offer > 5.0% APY CD without such arbitrary fee. Furthermore their savings accounts offer competitive APY themselves.
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Joined Jan 2007
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TruongKy
12-18-2023 at 10:36 AM.
12-18-2023 at 10:36 AM.
Does Citi still have that ridiculous rule on unlimited inbound transfer and $25k / day outbound transfer?
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Joined Nov 2013
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Bennysdeals1
12-18-2023 at 11:35 AM.
12-18-2023 at 11:35 AM.
Quote from yvolnov :
I would highly advise not going with Citi for any CDs. My wife and I opened a 3 month CD earlier in the year. After 3 months they claimed to have sent the check but we never received it. They persistently gave us the runaround saying it was handled by the "back office", which nobody could contact for some reason. After speaking on the phone with them approximately 15 times over 3 months, and receiving fake tracking information 3 times we got our money with the interest quoted, only at 6 months instead of 3.

Do yourself a favor and go with another bank. During this fiasco I talked to a friend of mine who used to work for Citi and he confirmed that their "back office"situation is a mess. I don't know what that means exactly, but I know I will never deposit my money with them again and would be doing a disservice if I didn't mention something here.
I appreciate that since i went with that about 9 months ago. Im doing the "checks in the mail" routine.
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HIDDENslickdealer2e12-18-2023 at 12:02 PM.
Joined Sep 2022
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norcal007
12-18-2023 at 12:10 PM.
12-18-2023 at 12:10 PM.
CD's are state and Fed taxed while a Treasury bond is state tax exempt. Good info on Treasury vs CD here: https://www.schwab.com/learn/stor...o-consider
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HIDDENWineWomenSong12-18-2023 at 12:24 PM.
Joined Dec 2006
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CalMan
12-18-2023 at 01:03 PM.
12-18-2023 at 01:03 PM.
Quote from yvolnov :
I would highly advise not going with Citi for any CDs. My wife and I opened a 3 month CD earlier in the year. After 3 months they claimed to have sent the check but we never received it. They persistently gave us the runaround saying it was handled by the "back office", which nobody could contact for some reason. After speaking on the phone with them approximately 15 times over 3 months, and receiving fake tracking information 3 times we got our money with the interest quoted, only at 6 months instead of 3.

Do yourself a favor and go with another bank. During this fiasco I talked to a friend of mine who used to work for Citi and he confirmed that their "back office"situation is a mess. I don't know what that means exactly, but I know I will never deposit my money with them again and would be doing a disservice if I didn't mention something here.
It's always been my understanding that "back office" refers to actual banking personnel. The call center employees are there for general questions and general actions. Not confirmed, just my experiences with many banks that use this term. Sorry about your troubles and thanks for sharing your experience.
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