Looking at APY and term, as well as size, if you’re interested in jumbo CDs, pick the one right for you on Citibank’s website and hit the “apply now” button beside the CD. Choose your CDĬitibank’s CDs range from three months to five years. Here’s an example of what you might be able to earn with a $10,000 contribution in each Citibank CD (assuming no early withdrawals). Like any interest-bearing product, the bigger your deposit and the longer you leave it in the account, the more you can earn.
How much you can earn from a CD depends on the size of your deposit, your interest rate, the term of the CD and whether you renew the term after its maturity date.
Savers, then, should only apply for those products if they’re reasonably confident they won’t need the money. The minimum deposit on most of Citibank’s CDs are low enough that most savers can get going without too much trouble, though the early withdrawal penalties on the Fixed Rate CDs and the Step Up CD are expensive. For instance, the APY on an eight-month term is just 0.05%. However, not all terms offer a competitive rate, eroding some of the value of such an array of options. Whether you need to hold a deposit for four months, or for five years, you’ll find an option. The Fixed Rate CDs offer savers a variety of term lengths (19 in all), giving savers an opportunity to pick the length that best suits their needs.
