Citi Accelerate Savings account review: Earn 12x the national savings average


CNN Underscored opinions monetary merchandise comparable to bank cards and financial institution accounts based mostly on their total worth. We might obtain a fee via Citi in the event you apply and are authorised for an account on this web page, however our reporting is at all times impartial and goal.

Our fast take: The Citi® Accelerate Savings account presently options an rate of interest that’s as much as 12 occasions increased than the nationwide common, with no minimal steadiness required to open an account, and no cap on the quantity of curiosity you may earn.


  • The Annual Share Yield (APY) is aggressive with different high on-line banks.
  • Avoidable month-to-month service charge.
  • No account minimums required.
  • Charge-free withdrawals at 65,000 ATMs nationwide.
  • 24/7 digital entry with the Citi app.


  • Minimal steadiness of $500 required to keep away from a $4.50 month-to-month service charge except you even have a checking account within the Citi Elevate Account Package deal.
  • Not accessible in each state or area.

Greatest for: Individuals who need an FDIC-insured high-yield financial savings account with entry to digital instruments and might preserve a steadiness of not less than $500 to keep away from month-to-month service charges.

Open a Citi® Accelerate Savings account and earn 12x greater than the nationwide financial savings common.

You can open a Citi® Accelerate Savings account without having to leave your home.


You’ll be able to open a Citi® Speed up Financial savings account with out having to go away your property.

The Citi® Accelerate Savings account is a no-frills on-line financial savings account geared towards people who find themselves comfy utilizing digital instruments. This account could be simply opened on-line in a matter of minutes, and customers can monitor their account steadiness, deposits and different particulars utilizing Citi on-line banking instruments.

Whereas rates of interest go up and down with the market over time, Citi® Accelerate Savings is presently providing 12 occasions the nationwide common rate of interest — a 0.50% APY. That is not less than on par with different high-yield financial savings accounts providing the very best charges proper now, and even higher in some instances.

It’s additionally a good selection for these trying to shortly entry their financial savings with none charges from almost wherever within the US, since Citibank has 65,000 ATMs nationwide, which represents the biggest ATM community provided by a serious financial institution within the nation.

Get entry to over 65,000 fee-free ATMs with a high-yield Citi® Accelerate Savings account.

The Citi® Accelerate Savings account comes with a number of advantages, and all of it begins with the actual fact you may open your account from the consolation of your property. You don’t have to go to a bodily financial institution location to fill out any paperwork, and also you solely want your identify, deal with, Social Safety quantity and date of beginning to open your account on-line.

This high-yield financial savings account additionally comes with the facility of Citi on-line banking, which helps you to monitor each element of your account on-line or through the use of the Citi cell app. The app allows you to handle your accounts — even exterior accounts — in a single place utilizing your favourite cell machine, and you’ll even deposit checks utilizing the app with out having to bodily submit them in particular person or by way of mail you probably have a linked Citi checking account.

Monitor your Citi® Accelerate Savings account with the Citi mobile app.


Monitor your Citi® Speed up Financial savings account with the Citi cell app.

You additionally don’t have to fret concerning the security of your cash with this account. Not solely is Citibank a big, nationwide financial institution, however deposit accounts on the financial institution are FDIC insured for as much as $250,000 (together with principal and accrued curiosity) per depositor.

Lastly, the Citi® Accelerate Savings account doesn’t require a minimal steadiness to get began, although you do must have not less than $1 deposited in an effort to earn the 0.50% APY. There are additionally no month-to-month upkeep charges in the event you both have a checking account within the Citi Elevate Account Package deal or preserve a median month-to-month steadiness of $500 or extra.

When you aren’t capable of meet the necessities to keep away from the month-to-month upkeep charges, you’ll be charged a month-to-month service charge of $4.50 and a $2.50 non-Citibank ATM charge. Even at a 0.50% APY, you in all probability received’t get sufficient worth out of the Citi® Accelerate Savings account if you need to pay that month-to-month service charge.

Alternatively, if you have already got a Citi checking account within the Citi Elevate Account Package deal or don’t thoughts setting one up, then you definately received’t have to fret concerning the Citi® Accelerate Savings month-to-month upkeep charge. Or, you probably have a substantial quantity in financial savings to stash away, then sustaining a $500 common month-to-month steadiness may be no massive deal. However these simply beginning out with a small quantity of financial savings might wish to search for an internet financial savings account that by no means costs a month-to-month charge.

Additionally, whereas the Citi® Accelerate Savings account is on the market in most states and areas, there are a small handful of areas the place clients received’t be eligible for it. But it surely’s simple to enter your zip code and shortly discover out in the event you’re in an space lined by the account.

See in the event you qualify to open a high-yield Citi® Accelerate Savings account.

Earlier than you choose the Citi® Accelerate Savings account, it may assist to match all the very best choices accessible at the moment. The chart under exhibits how Citi’s high-yield financial savings account compares to another on-line financial savings accounts that supply comparable charges and options.

Citi® Speed up Financial savings American Categorical Excessive Yield Financial savings Marcus by Goldman Sachs
Opening deposit requirement $0 $0 $0
Annual proportion yield (APY) 0.50% 0.40% 0.50%
Month-to-month account charge $4.50 in the event you don’t have a checking account within the Citi Elevate Account Package deal or don’t preserve a median month-to-month steadiness of $500 or extra None None
Branches/ATM community Sure, 65,000 ATMs No No

As you may see, a number of different on-line financial savings accounts supply the identical APY or near it with none charges required or hoops to leap via. For instance, the American Express High Yield Savings Account lets customers get began with no minimal deposit required and no account charges to fret about. Nevertheless, this account pays out a decrease 0.40% APY, which is 20% lower than Citi’s choice.

You additionally would possibly take a look at the web high-yield financial savings account from Marcus by Goldman Sachs. This account gives the identical fee of 0.50% APY as Citi® Accelerate Savings with none account minimums or month-to-month charges. Nevertheless, Marcus is an internet financial institution that doesn’t have any bodily branches or an ATM community, and it doesn’t supply cell examine deposit.

When you have a considerable amount of money, it’s possible you’ll wish to contemplate a high-end choice just like the Citi Priority account, since you may earn as much as $1,500 in bonuses once you open a Citi Precedence account and deposit and preserve the very excessive steadiness required to earn the bonus.

Associated: Earn up to $1,500 in bonuses with the Citi Priority account.

If you have already got an eligible Citi checking account otherwise you plan to maintain not less than $500 in your new financial savings accounts always anyway, opening the Citi® Accelerate Savings account might assist you safe 0.50% APY with out a month-to-month service charge. This transfer could be sensible in the event you just like the Citi platform already or you might be accustomed to utilizing their cell app. With Citi’s on-line and cell instruments, you may simply monitor your balances, deposits and earnings over time.

Even so, it by no means hurts to match different high-yield financial savings accounts, together with choices that don’t require a minimal month-to-month steadiness to keep away from annual charges.

Be taught extra and apply now for a Citi® Accelerate Savings account.

Get all the latest personal finance deals, news and advice at CNN Underscored Money.

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