Citi Accelerate High-Yield Savings Account Review
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. This compensation may impact how and where products appear on this site. You help support CreditDonkey by using our links.
Citi now offers high-yield savings with one of the best interest rate. But it's only available in select markets. Read this review to see if it's good for you.
 |
Citi® Accelerate High-Yield Savings from Citi offers high interest with lower fees.
Can it stack up to the competitive rates offered by smaller (mostly online) banks?
Below, review the features, fees, and eligibility requirements.
Yes, Citi Accelerate High-Yield Savings offers 3.30% Annual Percentage Yield (APY) in select markets only. It has no minimum opening deposit. It does carry a $4.50 monthly service fee (which can be waived by maintaining a minimum average daily balance of $500).
Who Is Eligible for a Citi Accelerate Savings Account?
Citi® Accelerate High-Yield Savings account is currently available in 42 U.S. states:
- Alabama, Alaska, Arizona, Arkansas, Colorado, Delaware, select markets in Florida, Georgia, Hawaii, Idaho, select markets in Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Washington, West Virginia, Wisconsin, and Wyoming
Citi Accelerate is NOT available to:
- California
- Connecticut
- Illinois
- Maryland
- Nevada
- New Jersey
- New York
- Virginia
Current Citi High-Yield Savings APY
The current rate for the Citi® Accelerate High-Yield Savings is 3.30% APY. This is a competitive interest rate for today's low-yield environment.
In comparison, the national average rate for savings is 0.39% APY.
Here's a calculator that can help you see how much more interest you can earn with a high-yield savings account:
Keep in mind, interest rates can change quickly. When the Federal Reserve lowers interest rates, banks make less profit from loans. As a result, they offer customers lower interest rates in return for their deposits.
Compare Savings Account Promotion
- APY: 3.30%
- Monthly fee: $4.50 if you don't maintain at least $500 in the account
- Available in AA, AE, AK, AL, AP, AR, AS, AZ, CO, DE, GA, GU, HI, IA, ID, IN, KS, KY, LA, MA, ME, MI, MN, MO, MP, MS, MT, NC, ND, NE, NH, NM, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VI, VT, WA, WI, WV, WY and select markets in Florida and Illinois.
CIT Bank Platinum Savings - $300 Bonus
- Qualify for a $300 cash bonus with a minimum deposit of $50,000
- This limited time offer to qualify for a $225 cash bonus with a minimum deposit of $25,000 or a $300 bonus with a minimum deposit of $50,000 is available to New and Existing Customers who meet the Platinum Savings promotion criteria. The Promotion begins on September 23, 2025 and can end at any time without notice.
UFB Portfolio Savings - Earn up to 3.26% APY
- Earn up to 3.26% APY.*
- No monthly maintenance fees.
- No minimum deposit required to open an account.
- Access your funds 24/7 with easy-to-use digital banking tools.
- Enjoy peace of mind with FDIC insurance up to the maximum allowance limit – Certificate #35546.
High-Yield Savings Premier - 3.80% APY
- No account fees
- Option to open individual or joint account
- FDIC insured up to $250,000 per depositor
- Only $500 minimum opening deposit
Citi Accelerate Savings Relationship Tiers
You can apply to open a Citi® Accelerate Savings account regardless of your Relationship Tier status.
You won't have to bundle the savings account with their checking account if you don't want to. The tiers enables you to access more benefits and services.
Relationship Tiers range from bare-bones to several that are suitable for the ultra-rich (like their Citigold Private Client account).
Citibank Accelerate Pros and Cons
Pros:
- High APY — especially for a big national bank
- No minimum opening deposit
- Many account options
- Relationship Tiers can offer a lot of perks, especially if you have multiple accounts with Citi
Cons:
- Not available to all states
- Relationship Tiers can be confusing
- Fairly high minimum balance requirement to waive the fee
FAQ
Is Citibank a good high-yield savings account?
With a high 3.30% APY, the Citi Accelerate High Yield Savings is a good account. It has one of the best rates in the nation, especially for a large bank. It's also easy to waive the monthly fee with just $500 minimum balance. However, it's not available in all states.
Is Citi high-yield savings account FDIC insured?
Yes, Citi checking and savings accounts are FDIC insured up to the federal limit of $250,000 (learn more). This includes the combined deposits in your Citi checking and savings accounts.
How it Compares
Citibank isn't the only kid on the block when it comes to high-yield savings accounts. Let's review how Citi compares to some other rivals.
- Axos ONE:
Earn up to 4.31% APY - Valley National Bank:
High-Yield Savings Account - 3.95% APY - Mission Valley Bank:
High Yield Savings Account - 3.86% APY - Live Oak Bank:
Personal Savings - Earn 3.80% APY - Western Alliance Bank:
High-Yield Savings Premier - 3.80% APY - CIT Bank Platinum Savings:
3.75% APY - Quontic:
High Yield Savings - 3.50% APY - UFB Freedom Checking & Savings:
Unlock Up to 3.46% APY
Bottom Line: Is Citibank Good for Savings?
Citibank offers a surprisingly competitive high-yield account for a big bank.
In fact, high net worth individuals will likely gravitate toward Citi in favor of the competitors listed above due to the additional benefits that extend far beyond basic banking.
While Citi does have minimum balance criteria to waive monthly fees, the amounts are low enough that anyone who would benefit from a high-yield account should be able to easily surpass them.
The main drawback is the complex Relationship Tiers / benefits structure. While Citi may offer a little something for everyone, it can be difficult to decide what you want with all the different options.
Note: This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.
Bank of America Advantage Banking - Up to $500 Cash Offer
- The cash offer up to $500 is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 1/31/2026.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* into that new eligible account within 90 days of account opening. Your cash bonus amount will be based on the total amount of your Qualifying Direct Deposits received in the first 90 days.
Cash Bonus Total Qualifying Direct Deposits $100 $2,000 $300 $5,000 $500 $10,000+ - If all requirements are met 90 days after account opening, Bank of America will attempt to deposit your bonus into your new eligible account within 60 days.
- Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Additional terms and conditions apply. See offer page for more details.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
Wells Fargo Everyday Checking Account - $325 Bonus
- Get a $325 new checking customer bonus when you open an Everyday Checking account and receive $1,000 or more in qualifying direct deposits.
- Wells Fargo Bank, N.A.
Member FDIC
U.S. Bank Business Essentials - $400 Bonus
Promo code Q1AFL26 MUST be used when opening a U.S. Bank Business Essentials® or Platinum Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
To earn a business checking bonus, open a qualifying U.S. Bank business checking account between 1/15/2026 and 3/31/2026. Make the required deposit(s) in new money within 30 days of account opening, maintain the same required daily balance through the 60th day, and complete 6 qualifying transactions based on posted date within 60 days of account opening.
Business Essentials: $400 bonus with $5,000 new money deposits, daily balance, and 6 qualifying transactions.
Qualifying transactions include debit card purchases, ACH and wire credits or debits, Zelle credits or debits, U.S. Bank Mobile Check Deposit, electronic or paper checks, Bill Pay (excluding payments made by credit card), and payment received via U.S. Bank Payment Solutions. Other transactions, such as person-to-person payments, credit card transfers, or transfers between U.S. Bank accounts, are not eligible.
New money is defined as funds from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees may reduce the required daily balance during the qualifying period.
Bonus will be deposited into your new eligible U.S. Bank business checking account within 30 days after the month-end in which all offer requirements are met, provided the account remains open with a positive available balance.
Offer may not be combined with other business checking bonus offers. Existing businesses with a business checking account or had one closed within the past 12 months, do not qualify.
All regular account-opening procedures apply. For full checking account pricing, terms and policies, refer to your Business Pricing Information, Business Essentials Pricing Information, and YDAA disclosure. These documents are available at any U.S. Bank branch or by calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice.
Member FDIC
HSBC Premier - Earn Up to $7,000
- Send and receive money with Zelle® right from our mobile app
- Manage your money safely, easily and fee-free around the world - from Global Money Transfers to multi-currency needs
- Enjoy peace of mind with unique travel benefits available through our credit cards
Here's how the offer works: Open a new HSBC Premier checking account by March 31, 2026. Add New Assets to your Premier checking account, Premier Savings account, Premier Relationship Savings account, Managed Portfolio Account and/or Spectrum account (Eligible Accounts) by March 31, 2026, and maintain the New Assets through June 30, 2026.
- Get a $1,500 Cash Bonus: Add and maintain New Assets of $150,000 to $249,999
- Get a $2,500 Cash Bonus: Add and maintain New Assets of $250,000 to $499,999
- Get a $3,500 Cash Bonus: Add and maintain New Assets of $500,000 to $999,999
- Get a $7,000 Cash Bonus: Add and maintain New Assets of $1,000,000+
If all offer requirements are met, the bonus will be paid by August 31, 2026.
CIT Bank Platinum Savings - $300 Bonus
- Qualify for a $300 cash bonus with a minimum deposit of $50,000
- This limited time offer to qualify for a $225 cash bonus with a minimum deposit of $25,000 or a $300 bonus with a minimum deposit of $50,000 is available to New and Existing Customers who meet the Platinum Savings promotion criteria. The Promotion begins on September 23, 2025 and can end at any time without notice.
Write to Justin Barnard at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
|
|
| ||||||
|
|
|
Compare:
