Updated September 12, 2023

Citi Accelerate High-Yield Savings Account Review

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Editorial Note: This content is not provided by the bank. Opinions expressed here are author's alone, not those of the bank, and have not been reviewed, approved or otherwise endorsed by the bank.
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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, a CreditDonkey partner, 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.

Does Citibank have a high-yield savings account?
Yes, Citi Accelerate High-Yield Savings offers 4.35% 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 4.35% APY. This is a competitive interest rate for today's low-yield environment.

In comparison, the national average rate for savings is 0.45% APY.

Here's a calculator that can help you see how much more interest you can earn with a high-yield savings account:

Compound Interest Calculator

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

Citi Accelerate High Yield Savings Account details

  • APY: 4.35%
  • 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.

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


  • 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


  • Not available to all states
  • Relationship Tiers can be confusing
  • Fairly high minimum balance requirement to waive the fee


Is Citibank a good high-yield savings account?
With a high 4.35% 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.

If the Citi Accelerate High-Yield Savings account is not available in your state, check out these online savings accounts open to everyone nationwide.

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.

Compare Savings Account Offers

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.


Citi Priority - Earn up to $2,000 Cash Bonus

Expires 1/9/2024
  • Earn up to $2,000 when you open a new eligible Citi checking account and enroll in the offer the same day
  • New to Relationship customers can choose their Relationship Tier.
  • Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
  • Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
  • If your balance falls to a lower Balance Level at any point during the maintenance period, the bonus changes.
  • Bonus will be paid within 30 days after you successfully complete all required activities.
  • Restrictions apply.
Member FDIC

Chase Total Checking® - $200 Bonus

Expires 10/18/2023
  • New Chase checking customers enjoy a $200 bonus when you open a Chase Total Checking® account and set up direct deposit
  • Access to more than 15,000 Chase ATMs and more than 4,700 branches
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Bank of America
Member FDIC

Bank of America Business Advantage Checking Account - $200 Bonus Offer

Expires 12/31/2023
Earn a cash bonus in three steps:
  1. Open a new eligible business checking account by December 31, 2023
  2. Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
  3. Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**
*Qualifying Deposits are deposits of new money, which is money not currently or previously held in any account at Bank of America or Merrill
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC
TD Bank
Member FDIC

TD Beyond Checking - $300 Cash Bonus

Expires 10/31/2023
  • New customers who apply online for a TD Beyond Checking account can earn a $300 cash bonus after receiving direct deposits of $2,500 or more within 60 days. To qualify for this offer, you must be a U.S. resident and apply for the offer online. Offer is available in these states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
  • Three ways to go monthly maintenance fee-free: Monthly Maintenance fee waived when you set up direct deposits of $5,000 or more within a statement cycle, maintain a $2,500 minimum daily balance, or have a $25,000 combined balance across eligible TD accounts.
  • ATM perks: TD fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance
  • A little extra time. A lot of extra relief: Avoid fees with Grace Period, which gives you until 11 PM ET the next business day to fix an overdraft. Make sure your available balance is at least $0 by depositing enough to cover the overdrawn balance plus any additional transactions and TD will refund the overdraft fee to your checking account.
  • Fast and secure payments: TD Bank debit cards are backed by the Zero Liability guarantee and 24/7 fraud monitoring
  • Convenient locations with the longest hours around: We have over 1,100 locations from Maine to Florida that's open early, late, and weekends.
  • Get reimbursed for fees including two overdraft fees per year, all Rush Bill Payments, and one outgoing wire per statement cycle (domestic or international).
  • Additional TD Bank checking account perks worth talking about: Get 24/7 access to all your TD accounts with Online & Mobile Banking, plus Bill Pay, Send
  • Money with Zelle®, Mobile Deposit and Online Statements.
Discover Bank
Member FDIC

Discover Online Savings - $200 Cash Bonus

Expires 12/14/2023

To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account, online, in the Discover App or by phone. Enter Offer Code CY923 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 12/14/2023, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

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.

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.

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About CreditDonkey
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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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