Personal Finance Banking Certificates of Deposit
Written by Taylor Milam-Samuel; edited by Laura Grace Tarpley; reviewed by Evelyn He
Updated
- Citizens Bank CD Rates
- Pros and Cons
- How Citizens Bank CD Rates Compare
- Why You Should Trust Us
- FAQs
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Citizens Bank CD Rates
Citizens Bank (Member FDIC) has two online CD terms: 8 months and 14 months.
Customers must live in select states to open one of these two CDs. However, residents of any state can open a CD with Citizens, the online-only division of the bank. Citizens (previously known as Citizens Access) has five CD terms ranging from one to five years.
Here's what you need to know about Citizens Bank CD rates.
Citizens Bank Online CD Rates
The Citizens Bank 8 Month Online CD pays a high rate, but you must deposit at least $25,000. This is significantly higher than the typical CD minimum deposit of $1,000 you can find at other banks.
The Citizens Bank 14 Month Online CD pays a much lower rate, however, the minimum deposit requirement is lower. You need to deposit at least $1,000.
These two online CDs are only available for people who live near a bank branch. You can open an account if you live in Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, or Washington, DC.
The following rates are for Boston, Massachusetts.
| CD Term | APY | Minimum Deposit |
| 8 months | 5.00% | $25,000 |
| 14 months | 2.75% | $1,000 |
Citizens Access Online CD Rates
Regardless of where you live in the U.S., you can open a Citizens Access Online CD with Citizens, the online-only division of Citizens Bank. There are five term lengths, ranging from one to five years. Rates vary depending on the term, but the minimum deposit is always $5,000.
| CD Term | APY |
| 1 year | 5.00% |
| 2 years | 3.30% |
| 3 years | 3.35% |
| 4 years | 3.40% |
| 5 years | 3.45% |
Citizens Bank CD Pros and Cons
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How Citizens Bank CD Rates Compare
Citizens Bank CDs vs. Capital One 360 CDs
Capital One 360 offers 9 CD terms ranging from 6 months to 5 years. Capital One CD rates are 3.90% to 5.00% APY, depending on the term length.
Citizens Bank and Capital One 360 offer similar rates, but Capital One 360 CDs have a $0 minimum deposit. Compared to the higher minimum deposits Citizens Bank requires, Capital One offers more flexibility. If you plan to deposit less than $1,000, Capital One 360 is a better fit.
Capital One 360 Review
Citizens Bank CDs vs. Synchrony Bank CDs
Synchrony Bank CD terms range from 3 months to 5 years, including a 24-month Bump Up CD and an 11-month No-Penalty CD. Synchrony Bank CD rates vary depending on the term, but you can earn between 0.25% to 5.00% APY.
The banks offer similar rates, but Synchrony offers extra flexibility with 16 term lengths and three types of CDs. There's also a $0 minimum deposit requirement at Synchrony, which is a significant perk compared to Citizens Bank's higher minimums.
Synchrony Bank Review
Why You Should Trust Us: How We Reviewed Citizens Bank CDs
Personal Finance Insider uses our certificate of deposit methodology to review CDs. We evaluated Citizens Bank's interest rates, CD terms, withdrawal penalties, and minimum deposits. We also considered the bank's mobile app, customer service, and ethics to determine a rating. We assign each category a score from 0 to 5, then average the scores together to create an overall rating out of 5.
Citizens Bank CD Rates FAQs
Are Citizens Bank CDs legit?
Yes, Citizens Bank is a Member FDIC bank. The FDIC insures money you deposit at the bank for up to $250,000 per account category and owner. If the bank fails, the FDIC will automatically reimburse you for the insured money you have in a CD.
What is the CD rate at Citizens Bank?
Citizens Bank pays 2.75% APY for a 14-month term and 5.00% APY for a 10-month term. Citizens, the online-only division of the bank, pays 0.05% to 5.00% APY depending on the term length.
What is the Citizens Access 1-year CD?
Citizens, formerly known as Citizens Access, is the online-only division of Citizens Bank. The financial institution offers a 1-year CD that pays a high interest rate.
Freelance Writer
Taylor Milam is a California-based personal finance writer and educator who recently paid off $14,000 of student loans in less than a year. She's passionate about helping people take control of their finances and create a life they love. When she's not researching financial terms and conditions, she can be found reading on the beach or hiking with her dog.
Compliance and Operations Associate
Evelyn He is a Compliance and Operations Associate on the Personal Finance team to ensure content accuracy and editorial independence so readers get up-to-date and objective financial advice.The compliance team's mission is to provide readers with fact-checked and current stories so they can make informed financial decisions. The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.
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Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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