Citibank new account promotions: Bonuses for checking and savings accounts

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Citibank, one of the top three banks in the US by assets, often provides bonuses to entice new customers. Meeting the bank’s promotional criteria and having sufficient funds can result in receiving appealing rewards from Citibank’s new account bonus.

If you’re considering opening a checking account with Citibank, there’s a bonus available for new customers who deposit new money from outside the bank. To qualify for the bonus, you’ll need to open a checking account within an eligible package, deposit new funds within 20 days, and maintain a specific balance for another 60 days. The amount of the bonus varies depending on the account balance and can range from $200 to $2,000.

If you open a new Citi Savings Account and meet certain requirements, you can take advantage of a promotion that offers a 4.25% promotional rate for three months. To qualify, you need to fund your account with a minimum of $25,000 and maintain that amount for three months after opening the account. Once the promotional period is over, the standard interest rates will apply.

Citi’s checking bonus offer

Customers can receive a cash bonus by opening a Citibank checking account from one of the four available packages and fulfilling the deposit and balance criteria. To qualify, customers must fund their accounts outside Citibank before July 23, 2023. The promotion is open to all customers and can be enrolled online or at a branch.

The cash bonuses for the minimum deposit and balance requirements are listed below.

  • You will receive a $200 cash bonus if you deposit $10,000 or more and keep it in your account.
  • If you deposit $30,000 or more and keep it in your account, you will receive a cash bonus of $500.
  • If you deposit and keep a minimum balance of $75,000, you will receive a $1,000 cash bonus.
  • If you deposit a minimum of $200,000 and keep the balance, you will receive a cash bonus of $1,500.
  • If you deposit and keep a balance of $300,000 or more, you will receive a cash bonus of $2,000.

There are four account packages associated with this promotion: Basic Banking Account Package, Citibank Account Package, Citi Priority Account Package, and Citigold Account Package.

Your cash bonus will be based on the amount of money in your account on the 20th day after opening it. After that, you must maintain the required minimum balance for 60 days. Once the 60 days are over, the bonus will be deposited into your account within 30 days.

Citi savings account offer

If you open a new Citi Savings Account and complete the required actions, you can get a promotional interest rate of 4.25% for three months with the Citi Savings New Account Rate Offer. This offer is only valid in specific states and is open to new and existing customers. To take advantage of this offer, follow these steps:

  • You can create a new Citi Savings Account before July 7, 2023.
  • To be eligible for the offer, you must deposit $25,000 or more of new funds into your Citibank account within ten business days of opening it.
  • You must keep a balance of at least $25,000 in your account for three months after opening it.
  • If you keep at least the minimum balance in your savings account every day, you will receive the promotional interest rate for three months from the date of account opening.

To be eligible for the offer, you must open an account at a Citibank branch or over the phone with a Citibank employee. The offer will end on July 7, 2023. If your account balance falls below the minimum amount required to receive the promotional rate, your account will switch back to the standard rate.

What’s the catch?

Citank offers promotions for free cash, but consumers should be aware that there are specific limitations that could disqualify them based on their location or failure to follow the terms and conditions.

To qualify for the Welcome Checking Cash Bonus Offer, you must meet the following requirements: haven’t had a Citi checking account in the past 180 days, meet tax requirements, and be at least 18 years old. Also, note that this offer is only available to customers with residential addresses or those who open an account in a branch located in the following states: California, Connecticut, District of Columbia, Florida (specific areas), Illinois (specific areas), Maryland, Nevada, New Jersey, New York, and Virginia.

In order to receive a checking bonus from Citi, you need to have a checking account with them. The eligible account packages are Citigold Account Package, Citi Priority Package, Citibank Account Package, or Basic Banking Package. Regardless of the chosen account package, you need to deposit and maintain a minimum balance of $10,000 to qualify for the bonus.

The Citi Savings New Account Rate Offer is limited to customers who have a residential address in specific states or who open an account at a branch in one of those states. To qualify for the promotional interest rate, a minimum deposit and balance of $25,000 are required.

This offer includes different types of Citi Savings Accounts: Citi Savings Account in Citibank Basic or Access, Citi Savings Account in Citi Priority, Citi Savings Account in Citigold, and Citi Savings Account in Citigold Private Client.


You are not eligible for the Citi Savings New Account Rate Offer if you have a Citi Accelerate Savings or Citi Miles Ahead Savings account.

The Welcome Checking Cash Bonus Offer and Citi Savings New Account Rate Offer are unavailable for Fiduciary, estate, business, retirement, or other trust accounts. However, living trust and custodial accounts can qualify for these offers. International personal bank customers are not eligible for either offer.

Is this a good deal for you?

The promotional interest rate offer for Citibank’s savings account could be a good choice if you have enough extra money to meet the deposit requirements. Yet, other banks provide savings accounts with similarly high annual percentage yields (APYs) that require lower minimum balances or no minimum balance at all. Furthermore, several of these accounts offer consistent high rates without reducing the APY after a promotional period.

Fees for money orders, ordering and reordering standard checks, and stop payment fees are waived with the Citigold and Citi Priority package.

To avoid unnecessary charges, make sure you are familiar with Citibank’s fee structure before creating an account. Although Citibank imposes monthly maintenance fees on some accounts, you may be able to avoid service fees by maintaining a minimum balance. To avoid being downgraded to a lower status, Citigold account holders need to keep a combined average monthly account balance of $200,000 across all their accounts (including investment accounts). However, they won’t be charged any monthly service fees. If you cannot meet Citibank’s minimum balance requirements, you should explore other account options.