Citibank Savings Promotion – Up To $700 Bonus

Offer at a glance

• Maximum bonus amount: $400
• Availability: Nationwide (can be done online)
• Minimum deposit required: $25,000
• Additional requirements: Maintain until November 30th, 2016
• Hard/soft pull: Soft pull
• Credit card funding: None
• Monthly fees: $25, avoidable
• Early account termination fee: None
• Expiration date: August 31, 2016

The Offer

Direct link to offer

• Fund a new or existing Citibank Savings Plus account with a minimum deposit of $25,000 with new-to-Citibank funds between July 1st and August 31st, 2016. Maintain your minimum deposit until November 30th and earn a bonus of up to $700. Bonus depends on the balance you’ve deposited (current APY rates have been put in brackets):
  • Deposit $25,000 – $49,999: $300 bonus (0.04% APY)
  • Deposit $50,000 – $99,999: $400 bonus (0.06% APY)
  • Deposit $100,000 – $249,999: $500 bonus (0.06% APY)
  • Deposit $250,000+: $700 deposit (0.06% APY unless balance is over $500,00, then 0.06% APY)

The Fine Print

• Cash bonus will be credited to your account within 90 calendar days from when you completed all qualifying requirements
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There is no fee for the Savings Plus Account.

Our Verdict

The best return for this bonus is depositing $25,000, you’re basically getting a 4.8% APY return for three months if you deposit the funds on August 31st and withdraw them on November 30th, realistically you’re not going to be able to do that perfectly. You’re also burning a ChexSystems inquiry for a return that only lasts three months. This is certainly better than the promos Citibank has run in the past for their savings accounts, but it’s still not worth doing in my opinion. Their $400 checking bonus is a better option, but if you’ve received this targeted offer chances are you already have an account. You can view a list of the accounts we do recommend opening here.

Big thanks to reader, Raphael (and mk712 for the direct link) who let us know. Please consider sharing bank bonuses with this site so we can make it even better.

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• How To Use Our Direct Deposit Page For Bank Bonuses Page
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