Citibank Offering 5-Year CD for 3.5% APY

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Author: Cindy Lewis on September 12, 2009

Citibank is offering a 5-year CD that pays 3.5% APY. As of September 12, 2009 that's one of the top rates for this term.

The details are as follows:

A minimum opening deposit of $500 is required for CDs opened online.
Interest is paid monthly for all CDs with terms greater than one year.
CDs renew automatically at maturity for the same term you initially selected. In addition, the amount you have on deposit will receive the rate in effect at the time your CD matures. If you don't want to renew, you have a 7-calendar day grace period to let Citibank know online, by phone or in writing.

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Today's Highest Online CD Rates

Bank	Product Term	Interest Rate (APY)
Finworth, a division of InsBank	1-Year	5.38% APY with $50,000 minimum
TotalDirect, a division of City National Bank of Florida	1-Year	5.35% APY with $25,000 minimum
First Internet Bank of Indiana	1-Year	5.31% APY with $1,000 minimum
Dollar Savings Direct, a division of Emigrant Bank	3-Year	5.00% APY with $1,000 minimum
First Internet Bank of Indiana	3-Year	4.66% APY with $1,000 minimum
IncredibleBank	3-Year	4.58% APY with $1,000 minimum
First Internet Bank of Indiana	5-Year	4.55% APY with $1,000 minimum
BMO Alto, a division of Bank of Montreal Harris	5-Year	4.50% APY with no minimum
Department of Commerce	5-Year	4.34% APY with $500 minimum