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I received the following email targeted offer from Citi. Is this something to consider?
There’s nothing quite like watching your savings grow. And you can watch it grow faster, with up to $500 in bonus interest on your savings after you upgrade to The Citi Priority® Account Package and fund a Citibank® Savings Plus Account. Here’s how it works:
 
 
1. Enroll in this promotion and upgrade to the Citi Priority Account Package by clicking here

 
 
2. Make a qualifying deposit into a new or existing Citibank Savings Plus Account with a minimum of $25,000 in new-to-Citibank funds between 1/1/17 and 4/14/17.

 
 
3. Maintain a $25,000 minimum balance for 90 consecutive calendar days from the date the minimum deposit of $25,000 was made and you can earn ten times the interest on your savings for this bonus period: up to a $500 bonus.*

 
We appreciate your business, and look forward to welcoming you to Citi Priority. This is a limited-time offer, so don’t wait to make the most of your savings.
 
  *The bonus interest will be credited into your new or existing Citibank Savings Plus Account or Citi Savings Account within 90 calendar days from the end of the statement period in which you completed all offer requirements.  

 
 
  To qualify for the bonus interest offer, you must first enroll in this promotion by first clicking "Enroll now", visiting a branch and asking a Citibank Representative to enroll you, or by speaking with a Citibank Representative through CitiPhone Banking® . You must also make a minimum deposit of $25,000 with new-to-Citibank funds into a new or existing Citibank Savings Plus Account or Citi Savings Account between the promotion period of 1/1/17 and 4/14/17. A minimum balance of $25,000 must be maintained in the Citibank Savings Plus Account or Citi Savings Account for 90 consecutive calendar days from the date the minimum deposit of $25,000 was made. The bonus will be equal to nine times (9x) the interest paid, up to $500, on the Citibank Savings Plus Account or Citi Savings Account for the three consecutive full monthly statement periods following the date the minimum deposit was made. Thus, the ten times (10x) offer calculation equals the bonus interest (9x) plus the regular interest paid on the account during the three consecutive full monthly statement periods following the date the minimum deposit was made. New-to-Citibank funds are funds not currently held by Citibank or its affiliates.  

 
 
  As of 11/30/16, the Annual Percentage Yield (APY) for CA Citibank Savings Plus Accounts or Citi Savings Accounts in The Citigold Account Package or Citi Priority Account Package was 0.06% for a balance of $25,000 - $49,999.99; 0.08% for a balance of $50,000-$499,999.99; 0.10% for a balance of $500,000 or more. As of 11/30/16, the Annual Percentage Yield for Citigold Interest Checking and Interest Checking opened in a Citi Priority Account Package in all markets is 0.03% for all balances. Rates are variable and subject to change without notice after account opening. Fees may reduce account earnings.  

 
 
  A consumer checking account in an eligible consumer checking account package (The Citigold Account Package or The Citi Priority Account Package) is required. The new or existing Citibank Savings Plus Account or Citi Savings Account must be in a qualifying checking account package. The checking account and Citibank Savings Plus Account or Citi Savings Account must remain open and in good standing at the time the bonus is credited to the Citibank Savings Plus Account or Citi Savings Account. A $30 monthly service fee applies to the checking account in The Citi Priority Account Package if minimum combined average monthly balances are not met. There is no monthly service fee for The Citigold Account Package. See the Citibank Marketplace Addendum or visit www.citi.com/compareaccounts for all account pricing details.  

 
 
  Important tax information: The bonus will be reported to the IRS as interest, in the year received, as required by applicable law. Bonuses received by U.S. persons will be reported on IRS Form 1099-INT for the year received. Bonuses received by non-U.S. persons will be reported on IRS Form 1042-S for the year received. Customer is responsible for taxes and consulting a tax advisor. To be eligible for the bonus, a U.S. person must have a valid Form W-9 on file, and a non-U.S. person must have a valid Form W-8BEN on file, and the account must not be subject to back-up withholding.  

 
 
  For purposes of this offer, the first listed signer for any account will be considered the customer; that signer needs to be enrolled in the promotion and fulfill the terms and conditions of the offer in order to be eligible for the promotion. One bonus per customer only. Offer cannot be combined with other savings account offers. You will receive the bonus premium for the first savings account offer for which you fulfill all offer requirements. However, if you meet the terms of two or more savings account offers in the same calendar month, you will receive the offer with the higher bonus value. Customers who enrolled in the September - November 2016 10x Savings Promotion between 9/1/2016 and 11/15/2016 and who will receive or have already received a reward for that promotion period will not be eligible to receive a reward for this offer. Consumer accounts only. Fiduciary, estate, business and all trust accounts except Living Trusts are not eligible. Customer must be 18 years or older to qualify for the promotional offer. Enrollment in this promotion does not guarantee eligibility. To qualify for this promotion, you must enroll in the promotion, meet the terms and conditions in this offer and perform the required qualifying activities contained in this offer. Offer may be modified or withdrawn at any time without notice and expires 4/14/17. Accounts are subject to approval, terms and fees.  

 
 
  Terms, conditions and fees for accounts, products, programs and services are subject to change.


 


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rated:
ToddC said:   I received the following email targeted offer from Citi. Is this something to consider?
Was it really necessary to quote all the crap from the email?
See fine print said: The bonus will be equal to nine times (9x) the interest paid, up to $500, on the Citibank Savings Plus Account or Citi Savings Account for the three consecutive full monthly statement periods following the date the minimum deposit was made. Thus, the ten times (10x) offer calculation equals the bonus interest (9x) plus the regular interest paid on the account during the three consecutive full monthly statement periods following the date the minimum deposit was made.

As of 11/30/16, the Annual Percentage Yield (APY) for CA Citibank Savings Plus Accounts or Citi Savings Accounts in The Citigold Account Package or Citi Priority Account Package was 0.06% for a balance of $25,000 - $49,999.99; 0.08% for a balance of $50,000-$499,999.99; 0.10% for a balance of $500,000 or more. As of 11/30/16, the Annual Percentage Yield for Citigold Interest Checking and Interest Checking opened in a Citi Priority Account Package in all markets is 0.03% for all balances. Rates are variable and subject to change without notice after account opening. Fees may reduce account earnings.
 


IOW, you will get 10 times 0.06%-0.1% (depending on balance) or 0.6% to 1.0%. One can earn 1% in many financial institutions without jumping through any hoops.
 

rated:
I got this junk-quality-promo in a luxury envelope.....so I researched and also spoke to banker .... what fwuser12 says is the reality.............this is the crappiest idea anyone could even comeup with at Citi....oh well only Citi can try to be Citi

rated:
I'm seeing lots if banks banks 10x* interest. It's not just citi





















*10x the national average of 0.1%

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