UPDATE: Citibank has lowered the rates on its 6 month CD. Please check the Citibank website for the most up-to-date rates.
Citibank is getting a bit more aggressive with its rates and is offering a competitive 6 month CD paying 4% APY. There is a minimum balance requirement of $500 to open the account.
4% is competitive when stacked against the best 6 month cd rates.
As is expected from a large bank, Citibank has an all electronic process for opening an account online. You verify your identify by answering a few financial questions which they match against a credit report. Once you are verified, the account is opened and you can transfer money into it from another via using your checking account number and your routing number. Or, you can fund it via a credit or debit card.
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