Compound Interest Calculator
Savings Account from Citi Accelerate with 4.30% APY and $0 minimum deposit



Use or Change These Amounts and Rates

The product Savings Account from Citi Accelerate with 4.30% APY and $0 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $30,470. The interest earned would be $10,470 and the tax amount on the interest earned would be approximately $3,141.

Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Citi Accelerate

Savings Boost of
$7,009 over 10 years
Cash Savings $20,000
Average Interest Earned $320

 
Citi Accelerate Interest Earned $7,329

 

 

See comparison detail table

This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.

Comparison Detail Table Close X

Average Rate Scenario

Rate:
0.23%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 45 32
2 20,045 45 32
3 20,091 45 32
4 20,136 46 32
5 20,181 46 32
6 20,227 46 32
7 20,273 46 32
8 20,319 46 32
9 20,364 46 32
10 20,410 46 32
TOTAL: $457 $320

Citi Accelerate Scenario

Rate:
4.30%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 860 602
2 20,860 897 628
3 21,757 936 655
4 22,693 976 683
5 23,668 1,018 712
6 24,686 1,061 743
7 25,748 1,107 775
8 26,855 1,155 808
9 28,009 1,204 843
10 29,214 1,256 879
TOTAL: $10,470 $7,329

Take Action

The accounts below offer some of the best rates in the country can be opened online, and are available nationally. As the calculator shows, changing accounts to earn a higher interest rate can really add up over time.


Recent Rate Changes



Date APY
August 7, 2024 4.30%
May 13, 2024 4.35%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↑0.25% on October 28.
6 Month Jumbo CD.

Last change: ↓0.09% on October 17.
3 Month CD.

Last change: ↓0.15% on September 6.

Last change: ↓0.05% on September 27.

Last change: ↑0.20% on October 28.
Early Withdrawal Penalty is 3 months interest.



Customer Reviews for Citi Accelerate


  • June 30, 2020 |

    Online Savings Rates

    I can easily imagine the pain and the trouble Karen went through. I tried and open accounts, too, but when I asked questions on the phone, the customer service person was not very knowledgeable, kind, or polite. It was very unprofessional attitude. Just as I read many others’ negative reviews about Citi’s poor customer service out there. I am pretty happy with the responses of the current online banks I have business with, so I passed citi.

  • December 19, 2019 |

    Zero stars. As of 12/19/19, rate has fallen to 1.85%. Not worth the trouble. I read somewhere that Citi limits daily withdrawals to $2000, which is ridiculous. Worst online banking experience ever. If you do open the account, wait to fund it in case you make the same mistake I did. For background, I’ve opened many online savings and checking accounts over the years without any problems, and this is absolutely the worst experience ever. I tried to open the Accelerate account online and somehow accidentally opened the Access checking account instead. I had funded the account via ACH. I didn’t realize there might be a problem until I finished the process and noticed “Access” instead of “Accelerate.” When I called to try to fix my mistake, I was told it should be easy to fix and the person on the phone started the process to open the Accelerate and have the money moved from the checking to the savings. He couldn’t finish the process because another department had to do that, and they were closed. I called the number he gave me as soon as they opened, and that person told me I had to wait 4 days for the ACH transfer to clear, and then the money from the checking would be moved to the savings, and the checking account would be closed. In the meantime, I can’t even access the money online that’s in the poorly named Access checking account, because I have to wait for them to send me an ATM card with the PIN (this is required to set up online access). This is ridiculous. All the other online checking and savings account I’ve opened allow me access to my money online, as soon as the money has cleared. All my other accounts let me at least SEE and access my account immediately upon setting up the user name and password, even if the money hasn’t cleared. After waiting 4 days for the ACH to clear, I called Citi about moving the money from the checking to the savings. NOW they tell me they can’t move it until I return a signature card via MAIL or FAX (no electronic option), and even then it will take days to verify since it goes through actual people and departments. I asked if I can cancel the whole process and have them send the money back to the original account, and they can’t do that, either. They will have to close the account, and then issue a check, and then mail the check, explaining that the whole process will take probably 2 weeks. This phone call lasted over 45 minutes, because of long hold and wait times. Crazy. And to top it off, I have multiple Citi credit cards so went into my account to try to send them a message about this awful experience so that they can fix their weird system, but there’s no way to send them an email, either securely from my account, or through an external email address. DON’T EVEN BOTHER WITH CITI!!!

  • July 24, 2019 |

    Online Savings Rates

    We have been Citi credit card users for many years. The money market rate looked appealing so we opened the savings account online. It was easy to open. The account merged with my credit card account in the app without a problem. Deposits and withdrawals are easily done.


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