Citi savings account interest rate reddit
Citi savings account interest rate reddit. I've had the double cash credit card since it came out. An hour ago I checked my UFB interest rate again and it was 4. Usually as a way to get you to use it. 5% interest rate which is quite good. VFMXX is getting mid 5% returns, virtually risk free. 5% on checking if you have >$0 of direct deposits per month + an additional $50 a month if you have a direct deposit between $1k-$5k or an additional $250 if you have a direct deposit >=$5k. The bonus rate extends another 3 months if someone opens an account using your referral link. 05% and it’s terrible As you can see, several other online savings accounts offer a higher APY with fewer fees and no account minimums. I can flip between my savings account & credit card account very easily on their website. Strong APY on any savings balance; Get an additional up to 0. My Marcus account was close to 2% and now is down to . 4% percent for three months then 4. 01%, ranging up to 1. I could see the variance being like a point off, but what incentivizes a bank to offer, or not offer, such wildly varying rates? Posted by u/Infamous_Rub_918 - 307 votes and 755 comments I've already got a Discover Bank account, which is at 0. 30% APY. 2 days ago · Discover the best high yield savings accounts of [auto_date format=year]. 50 non-Citibank ATM fee will apply to your account. Timely post, as I just caugh that my CIT bank (not CITI bank) 'savings builder' account has dropped from an initial 2. 4. com. 2%. If Ally, SoFi, etc could get away with giving lower interest, they would. Compare savings accounts to find the best rates. There are many options for savings account and a lot offer a high interest rate for a limited promotional time (eg 4. Thanks! A low account limit (e. While not quite at the top of the heap, its yield is well above the national average — competitive enough to qualify as a legitimate high-yield savings >Is the 3% (current ish rate) on a regular savings account or a MMA? They have a MMF savings account and plain savings accounts. 1% yield. Varo currently offers 5% on their savings account if you have >=$1k of direct deposits per month, and Sofi offers 3% on savings and 2. Rates for Savings accounts are variable, determined by Citibank at its sole discretion and can change before or Then, you can open savings accounts with other banks when they offer better interest rates than your hub bank. " And being online means they need to offer higher interest rates because they need to convince people to give up branch access. 2% if I remember correctly. I have the Discover Savings account (2. If you don’t feel comfortable using a Reddit link - I get it - just search “Marcus Savings Account by Goldman Sachs” and I believe you get the same offer (the 5. 01%. Even better rates are available with some restrictions (some are actually checking accounts but can be used for savings): 6. 5% Reply reply More replies I use USAA, Ally, and Navy Federal for banking services, but I have accounts with Chase (which has a lot of branches) and Citibank (great for international travel), but both Chase and Citibank have poor savings rates. The current basic savings account interest rate is 0. I transferred 40,000 to another bank and left 10,000 at the Citi savings so I get the 25% booster every month in the form of miles. Apparently they have customers who are willing to keep money in savings with a 0. There are better options with close enough or better interest rates that I'd pass on their HYSA and open one elsewhere. I think I will open up another HYSA with a different bank and put another 3 months expenses with them. I’m wondering where’s the best place to store cash for interest. There are other banks offering north of 4% for checking accounts. Apple will be unveiling their new savings account (partnership with Goldman Sachs) in about a week when iOS 16. So "Savings Builder" was initially good, then they introduced "Savings Connect" and now they have "Platinum Savings. g. 1% and an HYSA with 3. 36% APY) and was wondering if anyone has any insight into positive/neg experiences with Citi and knows the pros/cons or differences aside from the interest rate. There is no reason to put all your money in one account forever, especially since you seem to be sensitive to small changes in rate. Bankrate's experts have identified the highest savings account interest rates from top banks to help you maximize your earnings. For example, the Bask Bank Interest Savings Account offers a higher 4. 5% interest Robinhood earning 4% interest Schwab mixed CDs for 4. How can I sign up for Citi accelerate savings at 3. Capital One is the same, they had a HYSA that had good interest rates when the rates were low, but as the interest rates improved, those accounts did not automatically get the improved rates. 5. 25%. At this time a year ago, the highest rate you could find for an HYSA was like 1. 21%, but like I said I like that my main credit card is the same bank as my HYSA. You need to open another account that is very similarly named to get better APR. Wells Fargo, Chase, etc don't need to offer high interest rates because their storefronts are good enough advertising for them. 45% with a Savings Builder account. Get the Reddit app Scan this QR code to download the app now CIT Bank generally offers attractive high-yield savings account interest rates Citi Huntington 5/ Originally, I opened a savings connect account at 4. Oct 16, 2023 · A high-yield savings account, such as the Citi Accelerate Savings Account*, is a savings account that typically offers a higher interest rate to help you earn more with your savings, as compared to standard savings accounts. I priced out Amex but Ally beat them by a lot. Meanwhile, we have a savings account that we do draw from with Chase. I see literally no reason to need this barebones type of savings account. What is the highest interest savings account that does not have a limited term rate. They have three tiers for checking: Access, Basic, and the Citibank Account. I have my checking acct that my paycheck goes to and my main credit card with Capital One too so it’s easy to move money from one account to the other. great rate for only the first 6 months) Maxing savings rate requires chasing those introductory offers, and also spreading your money around if you’ve got enough to warrant it. 2 The interest rate on savings accounts is variable and can change at any time. I’ll make about $1000 in interest this year. In other words, it was their way of attracting new funds from new members (to the new account with higher interest) without taking the hit of having to pay existing users the higher interest rate. 85% APY The interest rates for savings accounts today are not going to stay the same forever. Since the amount you plan to put in your account is so small, you would be at much higher rate of return with the promotion then you citibank savings account. I have around $700K in cash, current in various accounts. 1 day ago · Pros. 45% interest when I opened it about a year ago to 1. Sounds great, but I've also read some posts warning about poor customer service and that some online banks don't offer or make it a hassle to designate a beneficiary and authorized user. Finally, re HYSCs, I have been using Ally online savings for many years, and the rate is competitive. Some examples include Ally, Barclays, and Discover, and many others. . 01%, and they earn more profit with a 0. I opened a new Citi accelerated savings account for the sweet interest rate and $150 bonus. Both are currently paying the same 3%. The rest was bank transfers from existing accounts. 9%. NerdWallet's list of the best savings accounts feature options with great customer service, higher-than-average interest rates and low or no fees. It says to get bonus interest on savings account, I need to deposit 200+ each month into a spending or savings account. I like them, never had a problem. 30% APY from Ivy Bank High-Yield Savings Account, which is more than 10x the national average APY. Does anyone know if they're planning on raising rates soon? The problem is every year or two, the bank spins off a new account type with the highest available interest rate while existing accounts' rates don't go up. 5, then saw the new platinum savings account advertised at 4. Thanks Just saw the interest rate of Ally's online savings is going down from 2. Also if you do direct deposit, they had a promotion going on for $200 or $500 bucks after couple month. From what I've gathered, CIT Bank has the highest APY at 2. They are never the highest rate but they are high, and they don’t play games with the rate either (meaning have a high rate for a few months as a promotion and then drop it). I sent a message through the app and even though it’s an evening on the weekend I got a response within 30 minutes and they “upgraded” my account to the latest with the 5. We have a high federal interest rate right now which is why savings account rates are elevated. Moreover, their checking account offers a 2. 50 and a $2. I recently got an offer from Citibank to open a checking account that has a bonus of up to $1,500 if a certain amount is deposited in "new to Citi" funds and held there for a set amount of time. Aug 15, 2024 · Citibank savings rates depend on the type of account, of which there are a few to choose from. 4% Yes, I currently have a 4. I have a checking account & savings account with them since you can zelle from the checking account unlimited and the savings account you can only have 6 transactions a month. 25% rate. You can also access available cash from your savings account at over 65,000 fee-free ATMs nationwide. Aug 21, 2024 · When you're calculating interest, keep in mind that Citi's high-yield savings account and standard savings account pay a variable interest rate, while the Citibank CDs pay a fixed interest rate. This is the new playbook by major banks. Compare top accounts, learn about their features, and find the highest interest rates to maximize your savings. Macquarie’s savings account welcome rate 2 days ago · The best high-yield savings accounts offer 5. 5% instead of the posted 5. 1% down to 1. Their savings interest rates are both currently only 0. May 23, 2024 · Citi® Accelerate Savings (Member FDIC; select markets only) has an excellent 4. For example, right now most savings accounts are in the 4% range, but about a year ago, they were 1-2%. 5% interest Where else should I store money that’s even better and tax free interest? I already bought I-bonds. high return on only the first $1000) “Introductory” rates that decrease with time (e. Apr 2, 2024 · Many of Citibank's interest rates are low but it has strong customer service and more than 65,000 ATMs in its network. It's true that you have to keep checking rates because they won't automatically bump you to a new account type, but as long as you're paying attention periodically, it's an easy transition. 30% APY from BrioDirect High Yield Savings Account and 5. I can't speak to their policies on interest rate changes, but I just don't like them as a bank. I have 3 months of expenses in Ally online savings account. You can transfer funds online between your Citi savings account and other linked Citi accounts or non-Citi accounts. Access is free if you have a direct deposit once a month or use bill pay; Basic is free if you use There is no minimum opening deposit required to open a Citi Accelerate Savings Account. 10%. It’s not the absolute highest interest rate right now for a HYSA at 4. 01% savings rate because they are a business trying to make a profit. My saving account with them is 0. I get paranoid of an account getting hacked and money drained. Access and Basic don't pay interest. Marcus by Goldman Sachs. 01% interest rate than a 5% interest rate. The MMF version can have paper checks and a debit card. 4% for three extra months and so do you. 03% APY) and just heard about the Citi Accelerate (2. Check today's Citibank® rates on checking and savings accounts, CDs, IRAs, personal loans & lines of credit. the rates fluctuate and are subject to externalities, most notably the federal interest rate. 2 drops. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. 4% if you have $500K in the "Performance First" account. The Citigold Account Package opens the door to our highest level of benefits, preferential rates, ATM fee reimbursements, and more. I was comparing interest rates the other day and USAA's are abysmal. 4% to 5. With that yield, which is higher than savings account rates at many other banks, the name makes sense. This value tanked throughout the pandemic, probably as low as . 25% for 6 months, then rate reverts to the regular interest rate of 2. Since you're not linking these savings accounts with anything other than your hub account, you can open and close these accounts with minimal effort. Does anyone know if this is going to stay this way or potentially go down given that the fed just lowered interest rates? Even with interest rates higher than they’ve been in years, many big-bank savings accounts remain stuck in near-zero interest rate territory. Find someone you know that already has an account. 25% or some offer like that). Also sofi pays interest on your balance at a descent rate. If interest rates go down and HYSAs start returning more than money market funds, just move the money to HYSA. Generally the interest rates tend to be better during potential periods of recession or high interest rates in general. A monthly service fee of $4. 75% interest rate, which is pretty competitive with most other HYSAs. Jul 10, 2024 · The standard Citibank savings interest rate on a Citi Accelerate Savings Account is 4. Join our community, read the PF Wiki, and get on top of your finances! Ally has been very good for us the rate is at 1. Their savings account is also at 1. 75 and upgraded. For this month, Komo has the highest new promo interest at 6%. When their rates go down, you just take your money out. 00% for 3 months for a total of 5. Open an account today. There are other banks out there that offer high-yield savings accounts with the same or better interest rates, whose savings accounts are much more feature-rich than Apple’s barebones offerings. Yeah, I don't get how traditional savings accounts survive with HYSA'S around that have much better rates. It's at 0. The Accelerate Savings account is Citibank’s high-yield option that must be opened online or We have our emergency funds sitting in Bread, at 4. 75%. Chase and Bank of America choose to offer a 0. 83% now. This is supposedly "Premier" too. Citi Miles Ahead Savings, certain Savings accounts that are UTMAs, and COMMA accounts are not charged monthly service fees. Part of my funding came from sales from my ESPP through E*Trade. SoFi earning 3. $1,000 limit. I think this is a good idea with an online bank for an emergency fund so that you can get money instantly in an emergency. Aug 22, 2024 · The Citi® Accelerate High-Yield Savings account might be for you if: You're interested in earning a high APY on your savings account funds without giving up access to a nationwide branch network I opened the savings account with 50,000 in August 2021, received my 40,000 miles in my AAdvantage account in Dec 2021. 4% and it's amazing that they get people to open the regular savings account. 75% as of last week. The Citibank account costs $25/month if you keep less than $10,000 in the account (or in linked citi savings/investment accounts). 3% interest rate on a Capital One savings account. So I basically missed out on 6 months of interest because I didn't realize I needed to open the new account type. 4% for savings account. 17% at Digital Credit Union. Why would you not use it? For reference: as long as you have any amount of direct deposit set up, Sofi savings currently offers a 3. 2 different accounts with 2 different emails and passwords will work well I hope lol. 36% interest rate. Citi® Accelerate Savings is a rare exception. They track the market trends consistently, albeit slightly lagging. †Annual Percentage Yield (APY) is accurate as of 09/19/2024 in the location entered upon accessing citi. The information related to Citi checking and savings accounts has been To be fair, every high APY savings account has been doing that since the FED has dropped interest rates. 4% intro, then 4. Still a good rate I keep getting offers for Citi Accelerate savings accounts with 2. 20% APY on savings when you add UFB Freedom Checking and set up direct deposit of $5,000 monthly, maintain minimum balance of Hi! Just wanted to share this info I compiled - I decided to start checking the interest rates of digital banks every start of the month to check kung sino yung may pinakamataas na interest rate, and saan maganda i-lipat yung Emergency Savings. 15% APY but you can get an extra 1. You can pull the money out in 1 business day penalty free. 75%, now it is on the rebound and I am getting monthly updates about increases, which now puts the HYSA interest rate at 1. Citi isn't the only one, Capital one has a savings account with 0. Use my referral link below and I bump up from 4. Citibank will waive your Savings account Monthly Service Fee when at least one owner of a Savings account also owns a Checking account, when an owner of a Savings account is in a Relationship Tier, during the first three full months after account opening, or when a Savings account has an Average Monthly Balance of $500 or more. It does say this though: Your savings account will be opened in the Access Account Package as a Citi Accelerate Savings account. 15% APY if you use a referral link. pkpbbux sevpbqc ofwbzn oouid vxiw wioaw ielh czpf vynlbx jwucvf