Citibank CD Rates

One of the most secure investment vehicles that investors will use for their financial future is CDs. CDs are certificates of deposits that allow investors to not only save their money, but to earn a return. There are many different types of CDs and the rates can fluctuate between these different CDs. Moreover, many banks provide CDs with different rates that investors should be fully aware. The main goal of an investor is to earn as much of a return as possible without dealing with a high amount of risks. In other words, investors interested in CDs will typically shop for the best CD rates possible.

Before choosing a CD rate, investors should research what affects the rate of a certificate of deposit. Citibank CD rates are among the most competitive rates that are offered on this type of investment. However, in order to get the most out of a Citibank CD the investor must first figure out what type of CD to purchase. For example, Citibank CD rates are affected by the amount being deposited as well as the term of the certificate of deposit. These factors will play a huge role with how much an investor will receive with interest payments on the CD.

Citibank CDs can be opened online or in person, depending on the plans of the investor. Opening up a certificate of deposit account online can be done through the Citibank website. There are a few rules and regulations when opening a new CD account like a minimum deposit amount. In order to open up a new Citibank CD account, the customer must deposit at least $1,000. The rates for a Citibank CD for a $1,000 balance will pay the account holder 1.50% in interest for a 5 year maturity CD. CD rates for $1,000 will fluctuate according to the maturity day or term of the CD.

If a customer opens up a new CD account with $1,000 for a three month term, they will earn 0.15% interest. These interest rates will remain the same until the amount of the account reaches over $10,000. However, the rates only slightly change for larger accounts, in some cases the rates will be the same. Citibank CDs pay out interest to the customer in the form of monthly payments. Monthly interest payments are received for Citibank CDs that have a 12 month term or less on the certificate of deposit.

If the customer wishes to renew their CD term, Citibank automatically sets up a new term for the same amount of interest and time frame. There is a 7 day period in which the customer can cancel the renewal process of the CD. The FDIC insures Citibank CDs for up to $250,000. All Citibank CD terms are available from 3 months to a maximum of 5 years. CDs are among the most secure investment vehicles that investors can take advantage of, especially during times of a slow economy. Another factor that will dictate the amount of interest that will be earned with a Citibank CD is the state in which the CD is purchased.

The convenience of opening up a new CD account from Citibank is definitely a selling point to investors. By going online, investors can seek out the right CD and all the information pertaining to the rates on the CD on the Citibank website. Savings accounts, money market accounts and CDs are ways to save money while earning some interest. Setting money aside for a raining day is definitely a strategy that all investors should consider. Citibank CD rates remain to be competitive, even when opening an account online.

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