Citi Takes Lead In 18-Month CD Rates

It’s been a long time since a big bank had a CD rate that made us sit up and take notice.

But Citibank is offering 2.25% APY on an 18-month certificate of deposit with a very modest $500 minimum deposit.

That’s the best nationally-available deal on an 18-month CD that we know of, beating the 2.13% APY from Discover Bank, OneWest Bank and MetLife Bank. (They have much higher minimum deposits, too.)

The Federal Reserve and Treasury Department have been pumping so much cheap money into the big banks that they haven’t needed our savings.

Ever since the banking crisis struck last the best rates have come from smaller banks that still needed to compete for deposits.

But desperate savers would flood those banks so much money they’d quickly lower their rates, sometimes in a matter of days, contributing to the extraordinary volatility we’ve seen in CD rates this year.

Could Citi be leading the big banks back into the market?

Use our database to compare Citi’s offer with the best CD rates from scores of other banks.

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