Citibank is now offering a CD rate of 2.47%, with a yield of 2.50% for a 12 month CD. The minimum opening deposit is $500. The rate is available on balances of $500 and above.
The CD rate is current as of 3/11/2009 and is only available for certificate of deposits opened through citibank.com. One cool feature Citibank has is you can set up alerts that notify you via cell phone or e-mail as your CD nears maturity.
The early withdrawal penalty for a 12 month certificate of deposit is 1 month of simple interest.
The 2.50% annual percentage yield (APY) is for personal certificate of deposits. Different rates and terms may apply to a CD held in an Individual Retirement Account (IRA). You can contact Citibank at 1-800-695-5911 for more information on CDs held in an IRA.
Author: Jason P. Jones
March 11th, 2009
