Your Citi Savings Account rate will depend on which Citi package you choose

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Citi is a national bank with 690 branches sprinkled around the US. Citi; Alyssa Powell/Business Insider

Citi Savings Account rates

Citi® breaks its accounts into the following six "packages." Here are the packages with their APY:

• 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: 0.15% APY

Each package comes with different benefits. A big perk of higher-tiered packages is that you can earn a better savings rate with a higher account balance.

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

Citi Savings Account vs. Citi® Accelerate Savings

Citi® Accelerate Savings

3.75/5

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Annual Percentage Yield (APY)

3.40% (varies by location)

Minimum Deposit Amount

View Full Details

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On Citi's website

Citi® Accelerate Savings

Learn more

On Citi's website

Details

Annual Percentage Yield (APY)

3.40% (varies by location)

Minimum Deposit Amount

Editor's Rating

3.75/5

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Pros & Cons

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Highlights

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Additional Reading

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You may notice that Citi has two savings account options: the Citi Savings Account and the Citi® Accelerate Savings. These accounts have three main differences:

• The Citi Savings Account 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.
• The Citi Savings Account is available in markets where there are Citi branch locations; the Citi® Accelerate Savings is an online account for people who live in markets where there are no brick-and-mortar locations.

The exceptions to the rule about branches locations: There are branches in South Dakota and certain parts of Florida, but you can still open a Citi® Accelerate Savings. Here are the parts of the US where you cannot open a Citi® Accelerate Savings:

• California
• Connecticut
• Select parts of Florida
• Select parts of Illinois
• Maryland
• Nevada
• New Jersey
• New York
• Virginia
• Washington DC
• Puerto Rico

However, if you live in those states, you can open a Citi Savings Account.

Citi Savings Account vs. Wells Fargo Way2Save Savings

You'll earn a higher APY with a Citi Savings Account than with a Wells Fargo Way2Save® Savings Account, regardless of which Citi package you choose. However, you could 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 Account vs. Bank of America Advantage 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 higher-tier Bank of America account.

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.