Citizens Bank has physical bank locations across the Mid-Atlantic, Northeast and Midwest regions. The online division of Citizens Bank, referred to as Citizens Access, handles all accounts outside the footprint.

Citizens Bank only offers one option for a CD on its website. The annual percentage yield (APY) is fairly competitive, but you’ll find much higher yields at the top online banks.

You need a minimum of $1,000 to open a Citizens Bank CD, which is typical compared to other banks (though some banks have lower minimum deposit requirements). Overall, Citizens Bank scored 3.6 out of 5 for its overall score in Bankrate’s bank review and a 3 out of 5 for its CD.

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 2.75% $1,000

NOTE: The APYs shown are current as of May 23, 2023. The APYs may vary by region.

How Citizens Bank compares to top-yielding banks

The 14-month online-only option offering isn’t as competitive as one-year CDs at online banks such as Ally Bank or Marcus by Goldman Sachs.

The current CD rate at Citizens Bank is less competitive than the Citizens Access CD rates. The Citizens Access one-year CD is offering a much higher 5 percent APY with a $5,000 minimum deposit. With other online 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

Citizens Bank’s One Deposit Savings account earns 0.01 percent APY on all balances. Although the APY isn’t competitive compared to top rates, you can easily waive the monthly service fee by making a deposit — the amount doesn’t matter — once per statement cycle.

For those interested in money market accounts, Citizens Bank offers three different types of money market accounts: a Personal Money Market, the Citizens Quest Money Market and the Citizens Wealth Money Market.