This deal has expired and is unfortunately no longer available. Never miss another deal again by signing up for free and instant notifications of new posts.
Update 01/10/18 deal is back. It’s still bad.
Offer at a glance
- Maximum bonus amount:Â $700
- Availability:Â Nationwide, targeted to existing customers
- Deposit required:Â $25,000-$250,000
- Deposit Length: Until November 30th, 2017
- Monthly fees:Â $30 avoidable
- Early account termination fee:Â None
- Household limit:Â None
- Expiration date:Â
August 31st, 2017February 5th, 2018
The Offer
- Fund a new or existing Citi Savings Account or existing Savings Plus Account with a minimum of $25,000 in new-to-Citibank funds by 2/5/18
- Maintain the minimum deposit until 5/04/18 and you can earn up to $700
- If you’re not already a Citi Priority Account package holder they will ask you to upgrade first
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
The Citi Account Package has a monthly fee of $30, this is waived if you maintain a combined average monthly balance of $50,000 or more in eligible linked deposits, retirement and investment balances. There is no early account termination fee for this account.
Our Verdict
When it comes to savings bonuses, Citi is the undisputed king of terrible offers. Ranging from misleading to just bad. They have offered this same bonus before and my opinion hasn’t changed. At minimum you’ll need to deposit $25,000 in funds for three months for a 0.8% return over that period (3.2% annualized) (your return gets significantly worse as you go up the tiers. For example depositing $250,000 0.28% return over that period or 1.12% annualized) and in all likelihood you need to keep the funds in the account for longer than that time period (need to make sure they are in there on time and will also take some time to remove those funds). Couple that with the fact you normally need to fight Citi tooth and nail to even get them to honor these deposit account bonuses and you’ve got yourself a terrible deal. This one is an easy pass for me.  Better to focus on a high yield savings account that will give you high returns on a regular basis. Really only posting this so readers know to avoid it.
Hat tip to readers @_moarbetter, Chaser123
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet)Â (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
