Citizens Bank is a traditional bank with nearly 1,100 branches across 16 states. It offers a wide variety of financial products, including checking and savings accounts, personal loans, student loans, refinancing, retirement planning and wealth planning. Like most traditional banks, Citizens Bank savings rates are very low, with the highest annual percentage yield (APY) topping out at 0.07 percent.

Though Citizens Bank savings rates are extremely low, there’s no minimum balance required to open an account.

Citizens Bank earned a 3.6 out of 5 in Bankrate’s overall rating and a 2.7 out of 5 score for savings accounts.

Citizens Bank savings account rates

Let’s take a closer look at the savings account interest rates offered by Citizens:

Account name APY Minimum deposit
One Deposit Savings 0.01% Any amount
Citizens Quest Savings 0.07% Any amount

Note: The APYs shown are as of Sept. 25, 2023. The APYs may vary by region.

How Citizens Bank compares to top-yielding banks

The savings accounts offered by Citizens Bank have a much lower interest rate than many of the top-yielding banks and also come in well below the national average.

Many banks offer savings yields much higher than Citizens Bank. Citizens Access, the online division of Citizens Bank, is one of those online banks with competitive yields.

Other savings options at Citizens Bank

Citizens Bank offers two different CDs on its website. You can choose from a 6-month or 14-month term. This might vary depending on location.

Citizens Bank also has IRA CDs and IRA savings accounts for those more focused on growing their retirement savings.