Banking » Compare Banks » CD Rate Battle: Comparing Capital One and Citibank
Advertiser Disclosure This website is an independent, advertising-supported comparison service. The product offers that appear on this site are from companies from which this website receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This website does not include all card companies or all card offers available in the marketplace. This website may use other proprietary factors to impact card offer listings on the website such as consumer selection or the likelihood of the applicant’s credit approval. This allows us to maintain a full-time, editorial staff and work with finance experts you know and trust. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impacts any of the editorial content on The Smart Investor. While we work hard to provide accurate and up to date information that we think you will find relevant, The Smart Investor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. Learn more about how we review products and read our advertiser disclosure for how we make money. All products are presented without warranty.

CD Rate Battle: Comparing Capital One and Citibank

Citi has better CD rates than Capital One for specific terms, but Capital One rates are higher on other terms. Here's a full comparison
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: June 3, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: June 3, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Table Of Content

Certificates of Deposit (CDs) have long been a go-to for savers seeking to grow their wealth securely. Among the many online banking options, Capital One and Citi Bank can be a decent choice. Although both offer attractive rates and flexible terms, there are significant differences between the two.

In this piece, we'll examine the CDs provided by Capital One and Citi Bank, comparing rates, minimum deposits, early withdrawal penalties, and other features. By the end of this article, you'll have the information you need to determine which bank's CDs are the perfect fit for your savings goals.

Capital One
Citi Bank
CD Range
3.90% – 5.00%
0.05% – 4.75%
Minimum Deposit
$0
$500 – $2,500
Early Withdrawal penalty
3-6 months of interest
90 -180 days of interest
Term
6 – 60 months
3 months – 5 years

CD Rates Comparison

Both Capital One and Citi offers competitive rates compared to other banks. When comparing Citi and Capital One, Capital One offers higher rates for most terms, but there are specific terms when Citi is better. 

For example, Citi CD rates are higher for 3-month and 9-months CDs. On the other hand, if you're looking for CD laddering or long-term CDs, however, Capital One may be a better bank. For example, if you're looking for a 5-year CD, Capital One rates are much better.

CD Term
Capital One APY
Citi Bank APY
3 Months
N/A
0.05%
6 Months
4.25%
4.75%
9 Months
4.25%
3.75%
12 Months
5.00%
2.00% – 3.00%
18 Months
4.45%
2.00%
24 Months
4.00%
2.00%
30 Months
4.00%
0.10%
36 Months
4.00%
2.00%
48 Months
3.95%
2.00%
60 Months
3.90%
2.00%

When It Comes to No Penalty CD - Citi Bank Wins

If you're looking for flexibility – no penalty CD can be a good option.

From both banks, only Citi offers a no-penalty CD. The rate is very competitive compared to other banks (0.05% APY, as of June 2024) and can be a good option for those who are looking for this feature.

Capital One
Citi Bank
12 Months
N/A
0.05%

Sign Up for

Our Newsletter

Join our community for the latest attractive savings rate changes ,expert insights, and member-only perks

CD Early Withdrawal Penalty: How They Compare?

Citi and Capital One have comparable early withdrawal penalties. Discover's penalty varies depending on the term of the CD. For CD terms up to a year, a penalty of three months of simple interest applies with Capital One (which is equivalent to 90 days with Citi).

In contrast, for terms ranging from one to five years, the penalty increases to six months of simple interest (which equals 180 days with Citi).

CD Term
Capital One
Citi Bank
3 Months
N/A
90 days of interest
6 Months
3 months of interest
90 days of interest
9 Months
3 months of interest
90 days of interest
12 Months
3 months of interest
90 days of interest
18 Months
6 months of interest
180 days of interest
24 Months
6 months of interest
180 days of interest
30 Months
6 months of interest
180 days of interest
36 Months
6 months interest
180 days of interest
48 Months
6 of months interest
180 days of interest
60 Months
6 months of interest
180 days of interest

About Capital One Bank

Capital One, primarily known for its credit card offerings, acquired online bank ING Direct in 2012 and rebranded it as Capital One. Since then, Capital One has expanded into a full-service online bank.

The bank provides a high annual percentage yield (APY) with its Performance Savings account, and its mobile banking options are among the best in the banking world. Capital One also has no monthly maintenance fees for its 360 Checking and Performance Savings accounts.

However, while the rates offered by Capital One 360 Performance Savings account are competitive, they are not the highest available in the market. Additionally, Capital One has only limited branches located in select U.S. states.

Capital One account options
Capital One account options (Screenshot from Capital One)

About Citi Bank

Citibank, a subsidiary of Citigroup Inc., is the fourth largest bank in terms of assets. The bank has established its reputation for credit cards and retail banking, catering to more than 110 million customers across the U.S., Mexican, and Asian markets.

Citibank has a comprehensive range of products that includes savings and checking accounts, CDs, investment products, as well as lending products such as mortgages and personal loans.

Compare Capital One Certificate Of Deposit (CDs)

Overall, Capital One CD rates are higher than Chase. Compare CD rates, minimum deposit, early withdrawal fees, and alternatives.

Comparing CD Rates: Capital One and Chase Head-to-Head

Discover and Capital One offer high CD rates on all terms. However, for each term there is a different winner – here's a full comparison: Capital One CDs vs. Discover CDs

Marcus offers higher CD rates than Capital One on most terms but not all of them. Compare CD rates, min deposit, and early withdrawal fees.

Compare CD Rates: Capital One vs. Marcus

Compare Citibank Certificate Of Deposit (CDs)

Synchrony Bank offers higher CD rates than Citibank on most terms. Compare CD rates, minimum deposit and early withdrawal fees.

CD Rate Battle: Comparing Synchrony Bank vs. Citibank

Citi Bank and Ally offer competitive CD rates, including no penalty CDs. Which one is the winner? Check out our full comparison: Ally CDs vs. Citibank CDs

While Citi Bank offers competitive CD rates on most terms, Wells Fargo offers high rates on specific terms. Compare rates and withdrawal fees.

CD Rate Comparison: Wells Fargo vs Citibank

While Citi Bank offers CD competitive rates on most terms, Bank Of America is the winner for specific terms. Citi also offers no penalty CD.

Compare CD Rates: Citibank vs. Bank Of America

Compare CD Rates

Picture of Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Search
Best CD Rates
Top Offers From Our Partners

UpgradeLogo

Savings Rate: 5.21% APY
Minimum Deposit:
$0
 
CIT-Bank-Logo
Savings Rate: Up to 5.00% APY
Minimum Deposit:
$5,000
Quontic bank logo
Savings Rate: 4.50% APY
Minimum Deposit:
$100
 
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

PNC bank logo

Promotion:
Up to $400 Open a new, select Virtual Wallet product and receive $500/$2,000/$5,000 or more in qualifying monthly direct deposits within 60 days to earn a $100/$200/$400 bonus.
Subject to state availability
PNC Virtual Wallet ® is available in AL, AZ, CA, CO, DC, DE, FL, GA, IL, IN, KY, MD, MI, NC, NJ, NY, NM, OH, PA, SC, TX, VA, WI, and WV. Virtual Wallet ® is offered in the state of MO with the exception of the Greater Kansas City area. Product availability may vary based on where you open your account and the Zip code of your primary address.

Chase_logo

Promotion:
$300 New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account and make direct deposits totaling $500 or more within 90 days of coupon enrollment.. Expired on 7/24/2024
Chase Overdraft Assist
With Chase Overdraft AssistSM, you won’t be charged an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day

UpgradeLogo

Fees:
No monthly fees No monthly fees and no overdraft fees. Plus get reimbursed for ATM fees with an active account 
Rewards:
Up to 2% cash back Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases 

Promotion:
$300 Use Promo Code “AXOS300” for a $300 bonus when you apply for a Rewards Checking account
Up to 3.30% APY
to get the maximum rate (up to $50,000) you’ll need monthly direct deposits of $1,500 (0.40% APY), 10 transaction on your debit card (+0.30% APY), average daily balance of $2,500 on Axos Invest Managed Portfolio (+1.00% APY), average daily balance of $2,500 on Axos Invest Self Directed Trading Account(+1.00% APY) and make full monthly payment on loans (mortgage, personal and auto) with Axos account (+0.60% APY).

penfed personal loan

APY on Daily Balances
0.15% APY on daily balances of less than $20,000 or 0.35% APY on daily balances of $20,000 up to $50,000
Get paid up to 2 days early
Set up direct deposits and get your paycheck up to 2 days early

Promotion:
Up to $4,000 New customers may earn up to $4,000 when they open an eligible HSBC Premier checking account from January 8, 2024 through March 27, 2024 and complete qualifying activities:

• Receive a cash bonus of $1,500 when you deposit or invest $100,000 – $199,999.99

• Receive a cash bonus of $2,000 when you deposit or invest $200,000 – $299,999.99

• Receive a cash bonus of $2,500 when you deposit or invest $300,000 – 499,999.99

• Receive a cash bonus of $3,500 when you deposit or invest $500,000+

• Earn an extra $500 when you set up recurring monthly Direct Deposits totaling at least $5,000 for 3 months
Wealth Products & Advice
Get access to wealth products, insights and advice from an HSBC Financial Professional through HSBC Securities (USA) Inc
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

#1 In Banking

Our Newsletter

Get expert advice, insider tips, fresh banking promotions and rate changes on savings accounts and CDs

Banking Promotions & Latest Rate Updates

Our Banking Newsletter

Sign up for our newsletter and gain access to expert advice,
insider knowledge, and exclusive updates