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Our quick setting: The Citi® Accelerate Savings Account currently offers an interest rate up to 12 times the national average, with no minimum balance required to open an account, and no cap on the amount of interest you can earn.
- The Annual Percentage Return (APY) is competitive compared to other major online banks.
- Avoidable monthly service charges.
- No minimum account required.
- Free withdrawals at 65,000 ATMs nationwide.
- 24/7 digital access with the Citi app.
- Minimum $ 500 balance required to avoid monthly service charge of $ 4.50, unless you also have a checking account in the Citi Elevate account package.
- Not available in all states or regions.
Best for: People who want a high yield FDIC insured savings account with access to digital tools and can keep a balance of at least $ 500 to avoid monthly service charges.
Open a Citi® Accelerate Savings account and earn 12 times more than the national average in savings.
You can open a Citi® Accelerate Savings account without leaving your home.
The Citi® Accelerate Savings Account is a no-frills online savings account for people who are comfortable with digital tools. This account can be easily opened online in minutes, and users can monitor their account balances, deposits and other details using Citi’s online banking tools.
As interest rates fluctuate with the market over time, Citi® Accelerate Savings currently offers 12 times the national average interest rate – an APY of 0.50%. It’s at least on par with other high yield savings accounts offering the best rates right now, and even better in some cases.
It’s also a good choice for those looking to quickly access their savings at no cost from almost anywhere in the United States, as Citibank has 65,000 ATMs nationwide, which is the largest ATM network offered by a major bank in the country.
Access over 65,000 toll-free ATMs with high performance Citi® Accelerate Savings Account.
There are several benefits to the Citi® Accelerate Savings account, and it all starts with the fact that you can open your account from the comfort of your own home. You don’t need to go to a physical bank to fill out paperwork, and all you need is your name, address, social security number, and date of birth to open your account online.
This high-yield savings account also comes with the power of Citi Online Banking, which lets you monitor every detail of your account online or using the Citi mobile app. The app lets you manage your accounts – even external accounts – in one place using your favorite mobile device, and you can even deposit checks using the app without having to physically submit them in person or by mail if you have a linked Citi checking account.
Monitor your Citi® Accelerate savings account with the Citi mobile app.
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.
Finally, the Citi® Accelerate Savings Account does not require a minimum balance to get started, although you do need at least $ 1 deposited to earn the APY of 0.50%. There is also no monthly maintenance fee if you have a checking account in the Citi Elevate account package or if you maintain an average monthly balance of $ 500 or more.
If you are unable to meet the requirements to avoid the monthly maintenance fee, you will be charged a monthly service fee of $ 4.50 and a non-Citibank ATM fee of $ 2.50. Even at 0.50% APY, you probably won’t get enough value from the Citi® Accelerate Savings Account if you have to pay these monthly service fees.
On the other hand, if you already have a Citi checking account in the Citi Elevate account package or you don’t mind setting one up, you won’t have to worry about the monthly Citi® maintenance fees. Accelerate Savings. Or, if you’ve got some massive savings to put aside, maintaining an average monthly balance of $ 500 might not be a big deal. But those who are just starting out with a small amount of savings may want to look for an online savings account that never charges a monthly fee.
Additionally, while the Citi® Accelerate Savings account is available in most states and regions, there are a small handful of areas where customers will not be eligible. But it’s easy to enter your zip code and quickly find out if you’re in an area covered by the account.
See if you qualify to open a High Yield Citi® Accelerate Savings Account.
Before settling into the Citi® Accelerate Savings account, it may be helpful to compare all of the best options available today. The table below shows how the Citi High Yield Savings Account compares to other online savings accounts that offer similar rates and features.
As you can see, several other online savings accounts offer the same or nearly the same APY with no fees required or hoops to go through. For example, the American Express High Yield Savings Account allows users to get started with no minimum deposit required and no account fees to worry about. However, this account pays a lower APY of 0.40%, which is 20% less than Citi’s option.
You can also check out the Marcus High Yield Online Savings Account by Goldman Sachs. This account offers the same 0.50% APY rate as Citi® Accelerate Savings with no account minimums or monthly fees. However, Marcus is an online bank that does not have physical branches or an ATM network, and it does not offer mobile check deposit.
If you have a large amount of money, you may want to consider a premium option like the Citi Priority Account, as you can earn up to $ 1,500 in bonuses when you open a Citi Priority account and make a deposit and maintain the required very high balance. to earn the bonus.
Related: Earn up to $ 1,500 in bonuses with the Citi Priority account.
If you already have an eligible Citi checking account or plan to keep at least $ 500 in your new savings accounts at all times, opening the Citi® Accelerate Savings account could help you secure 0.50% APY without monthly service charge. This decision can be smart if you already love the Citi platform or are used to using their mobile app. With Citi’s online and mobile tools, you can easily track your balances, deposits, and income over time.
Even so, it never hurts to compare other high yield savings accounts, including options that don’t require a minimum monthly balance to avoid annual fees.
Learn more and apply now for a Citi® Accelerate Savings Account.
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