Citi is now offering a 3.60% APY for their Accelerate Savings account. Continue reading to learn everything you need to know about the attractive account and rate!
Update 5/28/25: The rate has decreased to 3.60% APY (from 3.80%).
Citi® Accelerate Savings Summary
- Citi® Accelerate Savings
- 3.60% Annual Percentage Yield
- Offer available in select markets only
- Member FDIC
- Minimum balance for APY: $0
- No monthly service fee with an average monthly balance of $500
- No limit on how much you can earn
- No min deposit
(FDIC Insured)
How to Earn Rate
- Citi® Accelerate Savings account must be opened in one of Citi®’s banking accounts
- Your Citi® Accelerate Savings account can be opened in any Account.
- The standard Account for Citi® Accelerate Savings is the Citi ElevateSM account.
- For full terms and conditions please view the Client Manual and Marketplace Addendum or the Consumer Deposit Account Agreements page.
- There is no minimum opening deposit required to open a Citi® Accelerate Savings account.
- PLEASE NOTE: Accounts which have a zero balance for ninety (90) days are subject to closure.
Are There Any Service Fees?
There is no separate monthly service fee for the Citi® Accelerate Savings Account. When a Citi® Accelerate Savings Account is opened, it must be in an account and is subject to the applicable monthly service and non-Citi ATM fees of the applicable account as disclosed in the Information About Account in the Marketplace Addendum. A monthly service fee of $4.50 and a $2.50 non-Citi ATM fee apply to a Citi® Accelerate Savings account without a checking account in the Citi ElevateSM Account if an average monthly balance of $500 or more is not maintained.
Offer Availability
The Citi® Accelerate Savings account is available in select markets for customers with a residential/home (not mailing) address in an Eligible Location who apply online through Citi® Online, the Citi Mobile® App, or Citiphone Banking. “Eligible Locations” include AA, AE, AK, AL, AP, AR, 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.
Conclusion
It is often difficult to select which account fits your needs the best. With a sea of bank rates, finding one that’s perfect for you isn’t as easy as it seems.
However, with Citi®, you can do just that! With a new account, you can earn a generous rate just for meeting its deposit requirement.
For more, see our list of the latest promotions from Citi or our list of the best bank promotions & bank rates / business bank rates.
Let us know about your experience with this bank and comment below.
As of 12/19/19, rate has fallen to 1.85%. Not worth the trouble. I read somewhere that Citi limits daily withdrawals to $2000, which is ridiculous. Worst online banking experience ever. If you do open the account, wait to fund it in case you make the same mistake I did. For background, I’ve opened many online savings and checking accounts over the years without any problems, and this is absolutely the worst experience ever. I tried to open the Accelerate account online and somehow accidentally opened the Access checking account instead. This is the first time I’ve made a mistake like this. I had funded the account via ACH. I didn’t realize there might be a problem until I finished the process and noticed “Access” instead of “Accelerate.” When I called to try to fix my mistake, I was told it should be easy to fix and the person on the phone started the process to open the Accelerate and have the money moved from the checking to the savings. He couldn’t finish the process because another department had to do that, and they were closed. I called the number he gave me as soon as they opened, and that person told me I had to wait 4 days for the ACH transfer to clear, and then the money from the checking would be moved to the savings, and the checking account would be closed. In the meantime, I can’t even access the money online that’s in the poorly named Access checking account, because I have to wait for them to send me an ATM card with the PIN (this is required to set up online access). This is ridiculous. All the other online checking and savings account I’ve opened allow me access to my money online, as soon as the money has cleared. All my other accounts let me at least SEE and access my account immediately upon setting up the user name and password, even if the money hasn’t cleared. After waiting 4 days for the ACH to clear, I called Citi about moving the money from the checking to the savings. NOW they tell me they can’t move it until I return a signature card via MAIL or FAX (no electronic option), and even then it will take days to verify since it goes through actual people and departments. I asked if I can cancel the whole process and have them send the money back to the original account via ACH, and they can’t do that, either. They will have to close the account, and then issue a paper check, and then mail the check, explaining that the whole process will take probably 2 weeks. This phone call lasted over 45 minutes, because of long hold and wait times. Crazy. And to top it off, I have multiple Citi credit cards so went into my account to try to send them a message about this awful experience so that they can fix their weird system, but there’s no way to send them an email, either securely from my account, or through an external email address. DON’T EVEN BOTHER WITH CITI!!!