Citizens Bank is a traditional bank with more than 1,100 branches located in 14 different 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 APY topping out at .05 percent.

Though Citizens Bank savings account rates are extremely low, it does offer some other savings terms that are advantageous, such as no minimum open balance.

Citizens Bank earned a 3.2 out of 5 in Bankrate’s overall rating and a 2.4 out of 5 score for savings accounts.

Citizens Bank savings 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 (Annual Percentage Yield) shown are as of Dec. 22. 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 the national average.

Many banks are offering savings yields many times 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 only one CD on its website. It has a 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.