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Citizens Bank CD rates

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Citizens Bank has physical bank locations in 11 states across the Mid-Atlantic, Northeast and Midwest. The online division of Citizens Bank, referred to as Citizens Access, handles all accounts outside the 11-state footprint. When comparing Citizens Bank CD rates, there is an online-only option available for anyone, as well as two other CD options for those in one of the 11 states Citizens Bank services.

Citizens Bank offers limited-term options for all three CD options, and the annual percentage yield (APY) for each one is equally subpar compared to CD rates from other banks. You need a minimum of $1,000 to invest, although this is typical compared to other banks. Overall, Citizens Bank scored 2.8 out of 5 in Bankrate’s bank review, and the lower APYs were definitely a contributing factor.

Citizens Bank CD rates

The CD interest rates are guaranteed throughout the length of the time period you select.

For those who want an online-only option, Citizens Bank offers a 14-month CD account.

Account name Term APY Minimum deposit
Online-only 14-month CD 14 months 0.05% $1,000

For those looking for other CD terms, Citizens Bank also offers an 11-month and 24-month CD option. It’s important to note you will receive an improved APY if you are also a Platinum or Platinum Plus Checking account holder. You have to be a resident of one of the 11 states Citizens Bank has branches in to open an 11 or 24-month CD.

Account name Term APY Minimum deposit
11-month CD 11-month 0.05% $1,000
24-month CD 24-month 0.05% $1,000

NOTE: The APYs (annual percentage yield) shown are current as of Jan. 5, 2021. The APYs may vary by region.

How Citizens Bank compares to top-yielding banks

The 14-month online-only option offering a 0.05 percent APY hardly competes with other online-only CD rates, such as those found with Marcus by Goldman Sachs or the Ally high-yield CDs. Plus the online CD terms are quite limited, with 14-months being your only choice.

The current CD rates with Citizens Bank are less competitive than the Citizens Access CD rates. The Citizens Access CD is offering a more impressive 0.20 percent APY for a one-year term and $5,000 minimum deposit. With other online and brick-and-mortar options offering a variety of terms and higher APYs, you may be better off putting your CD savings elsewhere.

Other savings options at Citizens Bank

If you’re interested in other savings options besides a CD account at Citizens Bank, there is a Citizens Bank Platinum Plus Savings account. Although the APY isn’t competitive compared to top rates, there is no minimum balance to maintain and you can access the money through an ATM. There is also a CollegeSaver option for the savings account, where Citizens Bank will deposit an additional $1,000 bonus if you meet contribution requirements throughout the life of the account.

For those interested in money market accounts, Citizens Bank offers an option to those who are also Platinum Checking account holders. To qualify for the more competitive APY on the money market, you are required to have a monthly minimum of $25,000 across the balances of your Citizens accounts.

Written by
Sara Coleman
Insurance Contributor
Sara Coleman is an insurance contributor at Bankrate. She has a couple of years of experience in writing for insurance domains such as The Simple Dollar,, and numerous other personal finance sites. She writes about insurance products such as auto, homeowners, renters and disability.
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