Dedicated to Deposits: Deals, Data, and Discussion
Citizens State Bank (FL)2.01%$1k-60 Month CD
Citizens State Bank (FL)1.51%$1k-48 Month CD
Citizens State Bank (FL)1.26%$1k-24 Month CD
Accounts mentioned in this post. Rates as of August 28, 2014

Competitive CD Rates at Citizens State Bank in FL - Online Application


Citizens State Bank (FL)

Citizens State Bank in Florida is offering several competitive CD rates. One thing new with this bank is that it has added an online application which allows people from any state to open personal CDs, interest checking, savings and money market accounts. The bank's Jumbo CDs have the best rates. These include a 2.00% APY 5-year CD, 1.77% APY 4-year CD and a 1.36% APY 2-year CD. Minimum deposit is $100,000. Regular CDs have rates 15 basis points lower. Minimum deposit for the regular CDs is $1,000. There's also a good deal with a raise your rate CD. That's a 1.50% APY 3-year CD. Minimum deposit is $5,000. This provides the customer the option to increase the interest rate once during the term. These rates are listed in the bank's rates page as of 10/15/2012.

One downside with these CDs is a large early withdrawal penalty. The early withdrawal penalties for CD terms from 2 to 5 years are:

  • 9 months of interest for 2-year CD
  • 12 months of interest for 3-year CD
  • 18 months of interest for 4-year CD
  • 24 months of interest for 5-year CD

These penalties apply on the amount withdrawn. Please refer to the fee tab of the bank's personal CD page for the full details on the early withdrawal penalties.

As I mentioned above, the bank has recently enabled an online application that allows people from any state to apply for personal CDs. You can select the Jumbo CDs and the Raise Your Rate CD in the application. One downside with the application is that it currently doesn't allow for beneficiaries on POD accounts. However, I've been told that they are working to add this, and it should be available soon.

The application includes the following message about what accounts that can't be opened online:

Please note, you cannot apply for business, trust, power of attorney, beneficiary, or individual retirement accounts or accounts for minors (i.e. primary account owners under age 18).

Bank Overview

Citizens State Bank is a small bank with 4 branches in north Florida. It just recently established a branch in Gainesville. The other branches are located in small towns between Gainesville and Tallahassee.

The bank has an overall health score at of 3 stars (out of 5) with a Texas ratio of 42.33% (below average) based on June 2012 data. Please refer to our financial overview of Citizens State Bank for more details. The bank has been a FDIC member since 1958 (FDIC Certificate # 17880).

How These CD Rates Compare

Compared to banks with CDs available nationwide, these Citizen State Bank Jumbo CD rates are on top. The highest 5-year bank CD rate that can be opened online is 1.85% APY at CIT Bank and at Nationwide Bank. The highest 5-year credit union CD rate that's available nationwide is 2.00% APY.

Citizens State Bank's 3-year Raise Your Rate CD is similar to Ally Bank 2-year and 4-year Raise Your Rate CDs. However, Ally Bank's CDs have lower rates. Ally's 4-year RYR CD is close with a 1.44% APY. This Ally CD has one advantage in that it allows for two rate bumps.

The above rates are accurate as of 10/15/2012.

Searching for Top CD Rates

To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of

  Tags: Citizens State Bank (FL), Florida, CD rates

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Comment #1 by Anonymous posted on

Personal Savings

Customer Notice: We are temporarily not accepting new online savings accounts at this time. [/H3]

Comment #2 by Anonymous posted on
Also from the application page