Citibank, member of FDIC, is offering 2.50% APY for any 12 month certificate of deposit. The minimum opening deposit is $500 and there is no maximum. I won’t recommend depositing more than $250,000 as that is the maximum FDIC insured amount.
How it works
- A minimum opening deposit of $500 is required for CDs opened online.
- Interest is paid monthly or at maturity for all CDs with terms of one year or less.
- Interest is paid monthly for all CDs with terms greater than one year.
- CDs renew automatically at maturity for the same term you initially selected. In addition, the amount you have on deposit will receive the rate in effect at the time your CD matures. If you don’t want to renew, you have a 7-calendar day grace period to let us know online, by phone or in writing.