Citibank CDs review: can you buy brokered CDs today? Best Citi CD rates: 6-months, 1-year, 3-years, 5-years.
CD Rates at Citi Invest
Certificates of deposit can be opened with some good interest rates through Citibank. Citi Self Invest, the online discount brokerage affiliate of Citibank, doesn’t offer brokered CDs, although there are other options you should consider.
CDs at Citibank
Citibank has a wide range of certificates of deposit with different terms and rates. First, there’s the bank’s no-penalty CD. This type of deposit can be closed without any fees, unlike most CDs. However, the rate of return is very low. Currently, the APY on the no-penalty CD is just 0.05%. The term is 12 months, and there is a $500 minimum deposit requirement.
You can get a higher return with a regular CD. During our research, we found the following rates on Citibank’s CDs:
| CD maturity date | Annual yield to maturity |
|---|---|
| 9-month term | 4.05% (with a deposit under $100,000) |
| 9-month term | 4.75% (with a deposit over $100,000) |
| 1-year term | 4.05% (any balance) |
| 2-year term | 2.50% (any balance) |
The last CD type Citibank offers is a step-up time deposit. This one has a term of 30 months. The advantage is that an extra 0.05% of interest is added every ten months. The downside is the base APY, which is only 0.10% right now.
All CD types at Citibank require a $500 deposit. Citi offers FDIC insurance on all its certificates of deposit, up to program limits.
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Cash Equivalents from Citi Self Invest
Although Citi Self Invest doesn’t offer any fixed-income securities, it does allow trading in ETFs and mutual funds, including some short-term bond funds that can be used instead of certificates of deposit.
Finding bond funds on the Citi Self Invest website is quite simple. Click on the tile for the brokerage account on the Citi dashboard, then select the link to explore ETFs and mutual funds. This will open the fund screener.
In the fund categories section on the left, select bonds, money market, or both. For fund type, select ETFs, mutual funds, or both.
In our scan, we found the following funds with their rates of return:
| Fund | Total return (trailing 12 months) |
|---|---|
| PGIM Ultra Short Bond ETF (PULS) | 2.93% |
| Pioneer Multi-Asset Ultrashort Income Fund (MAFRX) | 3.43% |
| SPDR Bloomberg 3-12 Month T-Bill ETF (BILS) | 2.41% |
| Money Market Fund | 7-day yield |
|---|---|
| Invesco Government Money Market Fund (ACZXX) | 4.56% |
| BlackRock Money Market Portfolio (PINXX) | 4.60% |
Neither bond funds nor money market funds are insured by the FDIC, but they do have SIPC protection.
Placing a Trade
To place an order at Citi Self Invest for an ETF or mutual fund, go to the fund’s profile (this can be done by clicking on the fund in the search results or entering a ticker symbol in the top search bar) and click the blue buy button that appears on the profile.
There is no cost for placing a trade for either a mutual fund or an exchange-traded fund at Citi Self Invest.
Connecting Accounts
Within Citi.com, bank and brokerage accounts opened with the same Social Security Number will be automatically linked for easy management.
Brokered CDs at Charles Schwab
If none of the fixed-income options from Citi appeal to you, consider Charles Schwab. This brokerage firm does offer brokered CDs, and because they come from various financial institutions, a large selection is available.
To find this extensive list, log into the website (the mobile app and desktop platform won’t work for this) and go to the tab in the main menu for Research. A drop-down menu will appear with various links. Several are for CDs and other fixed-income assets. Click on the one you want.
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Charles Schwab CD Rates
Charles Schwab’s website has several CD tools, including:
- CD ladder builder
- Matrix of CD and bond rates
- Step-by-step search engine for CDs
- Regular search engine with multiple criteria
- Bond calculator
Here’s a sample of CDs we found using the regular search engine:
| Bank | Maturity date | Yield |
|---|---|---|
| LendingClub Bank | 12/23/2025 | 5.50% |
| Morgan Stanley Bank | 03/20/2025 | 5.35% |
| American Express | 09/22/2025 | 5.25% |
| Morgan Stanley Bank | 09/21/2026 | 5.00% |
| Discover Bank | 09/18/2028 | 4.65% |
Read detailed Charles Schwab Review.
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Updated on 6/21/2024.
About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.
