Citizens

Written by Theresa Stevens | Edited by Ali Cybulski | Published on 2/19/2025

Citizens Access is an online bank that offers a high-yield savings account and certificates of deposit (CDs). It is a division of Citizens Bank, which is the 17th-largest U.S. bank. By operating exclusively online and eliminating the overhead costs of physical branches, Citizens Access is able to offer higher rates on its savings products.

Citizens Access offers two savings products: a high-yield savings account and CDs.

The high-yield savings account offers a competitive 3.70% annual percentage yield (APY) — significantly higher than the national average. Start saving with as little as one cent, and pay no hidden fees, according to the bank.

As for the CDs, terms range from one year to five years, with the one-year CD earning the highest rate of 4.35% APY. One drawback is that you’ll need to deposit at least $5,000 to open a CD.

Here is the full list of Citizens Access CDs and rates:

1-year CD
4.35% APY

2-year CD
3.50% APY

3-year CD
2.85% APY

4-year CD
2.75% APY

5-year CD
2.75% APY

Rates as of Feb. 19, 2025

Though the bank has no physical branches, you can still easily access your money. Simply link a bank account to your Citizens Access savings account or CD and request an electronic transfer. Alternatively, you can request a check.

CD rules
Keep in mind that when you open a CD, your money will be locked up for the duration of the term — the length of time your funds stay in the CD. If you need to access your money before the end of the term, you’ll face an early withdrawal penalty that can result in lost interest or a flat fee.

Withdrawal penalty aside, a CD can be a good option because you’ll earn a guaranteed rate for the entire term. Savings accounts, on the other hand, feature rates that can change anytime.

Though Citizens Access CDs have a hefty minimum deposit, they charge no fees. The interest in a Citizens Access CD is compounded daily and paid monthly.

Pros and cons of Citizens Access

Pros:
• Features competitive rates on savings products
• Requires one-cent minimum deposit to open high-yield savings account
• Provides wide range of CD terms

Cons:
• Limits product offerings
• Offers no physical branches
• Sets $5,000 minimum deposit for CDs

Account opening
Setting up an account with Citizens Access is relatively straightforward. You might be able to open a savings account or CD in as little as five minutes, according to the Citizens Access website. You will need to provide a funding source for your account — such as an existing checking or savings account — along with personal information, including your name, address, birthdate, phone number, Social Security number and email address.

You can also fund your account by depositing checks via the remote deposit feature on the Citizens Access website or mobile app. If you’re not comfortable using remote deposit, you can also mail a check. You’ll need to provide the $5,000 CD opening deposit within 10 days of account opening.

Service
If you have a question or need help with your account, you have a couple of options for customer service. You can log into your account and click on the chat icon to send a message. Otherwise, you can obtain live support at 888-201-6505 from 6 a.m. to midnight Eastern time Monday through Friday; from 9 a.m. to 5 p.m. ET Saturday; and from 10 a.m. to 5 p.m. ET Sunday.

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