Citizens Bank is one of the exceptional banking options for the investors that offers a range of certificate of deposit (CD) options. These options are primarily designed to meet the savings needs of a wide variety of customers.

It contains competitive interest rates and terms that vary from short-term to long-term investments.  Citizens Bank aims to provide secure and rewarding opportunities for individuals. The following guide is quite comprehensive that helps to make it easier for savers to find the perfect fit for their financial goals.

Citizens Bank CD Rates Offers

Here are some of the best rewarding and popular CD offers by Citizen bank.

High-Yield 12-Month CD

  • Term Length: 12 months
  • APY: 4.60%

Key Considerations:

  • Early withdrawal penalties apply, impacting earnings if funds are accessed before term ends
  • Minimum deposit requirement to open the CD and earn the stated APY
Higher APY compared to standard savings accountsEarly withdrawal penalties can decrease earnings
Automatic renewal at maturity offers convenienceMinimum deposit requirement may be higher

Premium 18-Month CD

  • Term Length: 18 months
  • APY: 4.75%

Key Considerations:

  • Suitable for savers who can commit for over a year but seek higher flexibility than typical long-term CDs
  • Early withdrawal penalties that could reduce earnings and principal
Enhanced APY for better earnings over a medium-term periodEarly withdrawal penalties could reduce earnings and principal

24-Month CD

  • Term Length: 24 months
  • APY: 4.85%

Key Considerations:

  • Requires longer commitment, locking in funds for two years
  • Significant early withdrawal penalties, so best if you’re sure you won’t need access to the funds
Interest is compounded, maximizing the growth potentialSignificant early withdrawal penalties
Suitable for long-term savings without needing immediate accessMinimum deposit and term commitment may not suit all savers

Collective Comparison CD Rates in Table

For the collective comparison of the CD rates mentioned above, the following table will provide you side-by-side analysis.

Feature12-Month CD18-Month CD24-Month CD
Term Length12 months18 months24 months
Best ForSavers looking for short-term investment with higher returnsSavers seeking a balance between flexibility and higher earningsSavers focused on maximizing growth over a longer term without needing immediate access

Are Citizens Bank CD Rates Competitive?

Citizens Bank CD rates are generally competitive. The competitive aspect is highly notable for the customers who are seeking higher-than-average returns on their savings without taking on the risks associated with investing in the stock market.

In the broader scenario, the APYs exceed 4.50% for certain term lengths. These CDs tend to offer attractive rates in comparison to the national average for CDs. All of them collectively make this bank a compelling choice for the investors who are looking to maximize their interest earnings in a highly secure environment.

How do Citizens Bank CD Rates Compare?

In perspective of the comparison approach with the other financial institutions, Citizens Bank CD rates stand out a most reliable option so far. It is especially considerable for mid to longer-term investments.

These competitive rates are designed to attract a broad spectrum of savers, who are planning for a secure financial future. While some of the online banks might offer slightly higher rates, Citizens Bank provides a balance of competitive returns along with the reassurance of banking with a well-established, brick-and-mortar institution.

How Much You Can Earn With Citizens Bank CD Rates?

With the competitive CD rates of Citizens Bank, investors can expect to earn substantial interest that vary over the term of predefined investment. Moreover, the actual earnings will depend on the initial deposit amount and the specific CD’s APY.

CD OfferInitial DepositTermAPYPotential Earnings*
High-Yield 12-Month CD$10,00012 months4.60%$460
Premium 18-Month CD$10,00018 months4.75%$712.50
Maximum Growth 24-Month CD$10,00024 months4.85%$985

Overview of Citizens Bank

Citizens Bank was established in the year 1828, and it has grown to become one of the oldest and largest financial institutions of the United States.

The bank offers a comprehensive suite of financial products and services;

·         Personal and business banking

·         Wealth management

·         Loans

Furthermore, its headquarters is in Providence, Rhode Island. On the whole, there are various branches available in numerous states of the country. These features featured a wide network of branches and ATMs.

Locations of Citizens Bank

Citizens Bank primarily serves customers in;

·         New England

·         Mid-Atlantic

·         Midwest regions of the United States.

Its presence is notable in states such as Massachusetts, Pennsylvania, and New York, among others.

Frequently Asked Questions

What facilities of accounts are available at Citizens Bank?

Citizens Bank offers checking, savings, and money market accounts, along with the prominent features of CDs and other investment accounts.

Is it possible to access online banking with Citizens Bank?

Yes, Citizens Bank provides an online banking solution to its customers. It is done with the help of mobile banking apps. Investors can get authentication with convenient account management and 24/7 access for the services of bank

Does Citizens Bank provide mortgage services to investors?

Yes, Citizens Bank offers a range of mortgage services. These services primarily comprise new home loans, refinancing options, and home equity lines of credit.

Are there any fees for using Citizens Bank ATMs?

No, there are no charges available. Citizens Bank customers can use Citizens Bank ATMs without any fees.

How can I find the nearest Citizens Bank branch or ATM?

You can find the nearest branch or ATM using the locator tool on the Citizens Bank website.