6% 6-Month CD at Citibank Texas
Jun 25, 2006 - 4:44 PM by Ken Tumin
Citibank is advertising a 6.0% APY 6-month certificate of deposit. There's a $500 minimum and a $100K maximum. This special doesn't seem to be listed at Citibank's website. It was advertised in today's Dallas Morning News. The ad is available online here.
I called the 800 number listed in the ad (1-800-349-1987) and was told that it's only available for Texas residents. You have the option to open the CD by visiting a branch or by phone. If you visit a branch, you need to have a checking account. This is not needed if you open the CD by phone. With the phone option, you can fund the CD by ACH debit or by mailing a check.
You may actually want a Citibank checking account. Citibank has a free plane ticket promotion for opening its EZ Checking account (see post). With the EZ Checking Account, you are also eligible for the 4.75% e-Savings account (see post). A Citibank official was quoted by the New York Times saying "when the Fed increases rates, we will go up as well.". Citibank provided proof of this after the last Fed rate hike. So by the end of this week, the e-Savings may be up to 5%.
I called the 800 number listed in the ad (1-800-349-1987) and was told that it's only available for Texas residents. You have the option to open the CD by visiting a branch or by phone. If you visit a branch, you need to have a checking account. This is not needed if you open the CD by phone. With the phone option, you can fund the CD by ACH debit or by mailing a check.
You may actually want a Citibank checking account. Citibank has a free plane ticket promotion for opening its EZ Checking account (see post). With the EZ Checking Account, you are also eligible for the 4.75% e-Savings account (see post). A Citibank official was quoted by the New York Times saying "when the Fed increases rates, we will go up as well.". Citibank provided proof of this after the last Fed rate hike. So by the end of this week, the e-Savings may be up to 5%.
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latex_salesman (anonymous) - #1, Monday, June 26, 2006 - 9:16 PM
" Citibank has a free plane ticket promotion for opening its EZ Checking account (see post).... "
Oh come'n - this sounds like a snake oi'l promotion !!! Are those guys real or is it a joke ?
Banking Guy (anonymous) - #2, Tuesday, June 27, 2006 - 8:32 AM
You do have to be careful with Citibank promos as I mentioned in this post. Many have yet to receive the $200 bonus for a winter checking account promotion.
Anonymous - #3, Monday, July 31, 2006 - 9:25 AM
I called the same 1-800 number but I was told that one needs to have a checking account even to open a CD over the phone
Anonymous - #4, Monday, July 31, 2006 - 6:19 PM
anyone know when this offer expires?
Anonymous - #5, Monday, August 7, 2006 - 10:28 PM
I opened the CD over the phone - and I do NOT have a checking account with Citibank. Call back and get a different representative...
Banking Guy (anonymous) - #6, Thursday, August 24, 2006 - 8:18 AM
The 6% 6-month CD is still being advertised as of August 24, 2006. Here's an advertisement that was in Aug 24th Dallas Morning News
Banking Guy (anonymous) - #7, Monday, October 2, 2006 - 7:11 PM
I called Citibank today (October 2, 2006) and this 6% 6-month CD is still available for those in Texas.
One note: The CSR told me that it does require a Citibank checking account. The EZ Checking is the best deal since it has the smallest minimum ($1500) to avoid monthly fees. Also note there are other ways to avoid fees for this checking.
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