Business Insider's personal finance team compared Citizens CD rates to the best CD rates and found it to be a standard offering. Some of its CDs offer competitive rates, but not all, and it doesn't offer many CD term lengths.
Citizens Bank (Member FDIC) offers two online CD terms: 10 months and 14 months. To get these CDs, you must have a Citizens Private Client Checking or Citizens Quest Checking Account. Customers must also live in select states to open one of these two CDs.
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 and one liquid CD with an 11-month term.
Here's what you need to know about Citizens Bank CD rates.
Current Citizens Bank CD Rates
Citizens Bank Online CD Rates
The Citizens Bank 10 Month Online CD pays a decent rate of 3.50% APY. The Citizens Bank 14 Month Online CD pays a much lower rate of 2.75% APY; however, the minimum deposit requirement is also lower.
The following rates are for Boston, Massachusetts.
| CD Term | APY | Minimum Deposit |
| 10 months | 3.50% | $25,000 |
| 14 months | 2.75% | $1,000 |
Citizens Online CD Rates
Regardless of where you live in the United States, you can open a Citizens Access Online CD with Citizens, the online-only division of Citizens Bank. Fixed rates vary depending on the term, but range from 2.75% to 3.50% APY. Overall, these CD rates are higher than average CD rates, but you can still find higher rates at other online banks.
| CD Term | APY |
| 1 year | 3.50% |
| 2 years | 3.50% |
| 3 years | 3.25% |
| 4 years | 2.75% |
| 5 years | 2.75% |
Citizens Liquid CD Rates
The Citizens Liquid CD is a no-penalty CD, and it has an interest rate of 0.05%. It has a term length of 11 months.
No-penalty CDs allow you to withdraw money from your CD without incurring an early withdrawal penalty. Not all banks offer specialty CDs like no-penalty CDs; that being said, the Citizens Liquid CD has a low interest rate. If you're interested in a no-penalty CD, you're better off going to another online bank or credit union.
Overview of Citizens Bank CDs
The Citizens Bank 10 Month Online CD rate is competitive, but you must deposit $25,000 and live in a certain area to earn it. Citizens Access CDs are appealing for 1-year terms, but other online banks pay higher CD rates for longer terms.
Many of the best CD rates are available nationwide and have lower minimum deposits. However, Citizens Bank could be a good choice if you want to deposit a significant amount.
If you're looking for business deposit accounts, there are several Citizens Bank business accounts, including business CDs.
Citizens Bank CD Pros and Cons
Citizens Bank CD Pros
- Competitive rates on 10-month and 1-year terms
- Standard minimum opening deposit for 14-month term
- Citizens Access Online CDs available nationwide
- Easy-to-use mobile app
Citizens Bank CD Cons
- Other online banks offer higher CD rates overall
- High minimum deposits on most terms
- Citizens Bank CDs only available in select states
Citizens Bank CD Alternatives
Citizens Bank CDs vs. Capital One 360 CDs
Capital One 360 nine offers CD terms ranging from six months to five years. Capital One CD rates are 3.50% to 4.00% APY, depending on the term length.
The best bank for you ultimately depends on which term you're interested in getting.
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.
Citizens Bank CDs vs. Synchrony Bank CDs
Synchrony Bank CD terms range from three months to five 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 4.25% APY.
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.
About Citizens Bank CDs
Types of CD Offered by Citizens Bank
Citizens Bank offers standard CDs that you'd find at any other bank.
The Citizens Bank 10 Month Online CD and Citizens Bank 14 Month Online CD are only available for people who live near a bank branch. Branches are located in California, Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, or Washington, DC.
You must also have an eligible Citizens Bank checking account to get these CDs. If you don't already have an account, you'll need to open one with the CD.
If you don't live near a branch, you can open a Citizens Access Online CD through the bank's online-only division. There are five term lengths, ranging from one to five years. Other banks offer more CD variety, though.
Citizens Bank CD Minimum Opening Deposit
You must deposit at least $25,000 into a Citizens Bank 10 Month Online CD. The Citizens Bank 14 Month Online CD has a $1,000 minimum opening deposit.
The Citizens Access Online CD and Citizens Liquid CD have more straightforward opening requirements. All the CDs require $5,000 upfront.
If you don't have much money to deposit upfront, other banks will likely be a better fit than Citizens Bank. For example, there are online banks that let you open a CD with $0.
Citizens Bank CD Early Withdrawal Penalties
Citizens Access Online CDs have the following early withdrawal penalties:
- 90 days of interest on the withdrawal amount for terms of one year or less
- 180 days of interest on the withdrawn amount for terms longer than one year
What Influences Citizens Bank CD Earnings
The total amount of CD interest you earn depends on your CD selection.
External factors, like changes to the federal funds rate, can also impact your earnings. If you get a CD when rates are higher, you'll be able to earn more.
Role of the Federal Reserve
Historical CD rates show that CD rates can fluctuate a lot. This is because CD rates are impacted when the Federal Reserve changes the federal funds rate.
When rates rise, banks offer more competitive CD rates. If rates go down, banks lower CD rates, and your options might not be as competitive as other safe investment options.
To see if CD rates will change, keep tabs on the next Fed meeting.
CD Selection and Minimum Opening Deposit
One of the advantages of getting a Citizens Bank CD over a savings or money market account is that you're earning a fixed interest rate. This means the rate will be locked in for the term you've selected.
You can use our CD calculator to see how much you'd earn in a Citizens Bank CD.
Citizens Bank CD Rate Interest Compounding
How frequently interest compounds, and whether you keep your CD interest in your CD or not, will change how much money you make from your CD.
Citizens Online CDs, formerly Citizens Access Online CDs, compound daily. This means that the interest you make each day is added back into your account and used to calculate your total interest earned. Citizens Bank Online CDs compound monthly instead.
CDs that compound interest daily will pay you more interest over time than CDs that compound interest monthly or yearly. You can determine how much interest you'll make in a compound interest account with a compound interest calculator.
You can withdraw interest from your Citizens CDs during the term length, but doing so will prevent your interest from compounding, earning you less money overall. When a bank lists an annual percentage yield, or APY, that number assumes that you leave your interest in your CD for the entire term length. Both Citizens Bank and Citizens Online CDs allow you to withdraw interest during your term.
Why You Should Trust Us: How We Reviewed Citizens Bank CDs
Business Insider uses our certificate of deposit methodology to review CDs. We evaluated Citizens Bank's interest rates, CD terms, withdrawal penalties, miscellaneous features, and minimum deposits. We also considered the bank's mobile app, customer service, security, and ethics to determine a rating.
We assign each category a score from 0 to 5. We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience. We rate bank accounts on a scale of one to five stars.
Citizens Bank CD Rates FAQs
Does Citizens Bank offer competitive CD rates?
Citizens Bank offers competitive CD rates for 10-month and 1-year terms. If you are interested in opening a CD over a year, the best online banks pay better CD rates.
Does Citizens Bank change its CD rates often?
Citizens Bank can change CD rates at any time. That said, CD rates are often affected by changes in the federal funds rate.
What's unique about Citizens Bank CDs?
Citizens Bank offers unique 10-month and 14-month terms on online CDs. Besides that, though, Citizens Bank CDs don't have any other standout features. For specialty CDs, you also have to consider other banks; Citizens only has one specialty CD, a no-penalty CD, and it offers a low rate.
Are Citizens Bank CDs FDIC-insured?
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.
Do I need an existing Citizens Bank account to open a CD?
You must have a Citizens Private Client Checking or Citizens Quest Checking Account to open a Citizens Bank 10 Month Online CD or Citizens Bank 14 Month Online CD. You can open checking accounts and CDs at the same time, though.
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.
**Enrollment required.
*Varo Savings Account: To earn the highest APY each month (5.00%) on up to $5,000, you must receive at least $1,000 in direct deposits each month and keep your Varo Bank Account balances above $0. Earn 2.50% APY on your remaining balance. Rates are subject to change at any time.
**LendingClub LevelUp Savings Account: Earn 4.40% APY when you deposit at least $250 per month, earn 3.40% standard APY if minimum isn't met.
***Barclays Tiered Savings Account: Accounts with $250,000 or less will earn 3.65% APY, accounts with over $250,000 will earn 3.75% APY. Rate are determined by balance tiers and amount deposited.
1Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
2Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 15, 2025.
1 APY — Annual Percentage Yield is accurate as of September 23, 2025. Interest Rates for the Savings Connect Account are variable and may change at any time without notice. The minimum to open a Savings Connect account is $100. Fees could reduce earnings on the account.
2Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 15, 2025.
