Citizens State Bank (FL) Offers Nationally Available CDs


Availability: CDs – 36-month (2.80% APY), 48-month (3.00% APY), 60-month (3.20% APY), $1k minimum deposit

Availability: Nationwide

Florida-based Citizens State Bank (CSB) has raised the rates on all it CDs, with the 36-month (2.80% APY), 48-month (3.00% APY), and 60-month (3.20% APY) the most competitive. While CSB lists tiered deposit levels ($1k and $100k), the CD APYs are the same no matter the deposit.

In the past five months there have been three rate increases, with the 36-, 48-, and 60-month CDs adding 165, 177, and 159 bps, respectively.

As stated in the Personal CD Overview, the Early Withdrawal Penalty reads as follows:

For accounts with an original maturity of three or four years we may impose
a fee equal to 9 month interest on the amount withdrawn subject to penalty.

For accounts with an original maturity of five years we may impose a fee
equal to 12 months interest on the amount withdrawn subject to penalty.


According to the online application, the options to fund a CD include a “transfer from an existing account, transfer from another bank account or mail a check.” CSB CDs have a ten day grace period. Here’s something I’ve never seen on an online application:

Maturity Options: Auto Renewal, Mail Check, ACH Checking, ACH Savings (if you select ACH please provide the routing number, account number and the financial institution's name, zip code and city)


Headquartered in Perry, Florida, Citizens State Bank offers its product line nationwide to all U.S. citizens and permanent residents who have a valid Social Security number.

Checking, Savings, Money Market accounts, and CDs can be opened online, or at any of the four Florida branches located in Gainesville (2), Perry, and Steinhatchee.

The online application states that,

Once your application is submitted please allow 48 hours for processing.

Bank Overview

Citizens State Bank has an overall health grade of "B+" at, with a Texas Ratio of 13.78% (excellent), based on March 31, 2018 data. In the past year, CSB increased its total non-brokered deposits by $2.16 million, an above average annual growth rate of 0.97%. Please refer to our financial overview of Citizens State Bank (FDIC Certificate # 17880) for more details.

CSB was originally established in 1958 as The Citizens Bank of Perry – a small bank in a small Florida town. The Bank rebranded in 2007 and began offering savings accounts and CDs nationwide in 2012. Citizens State Bank’s philosophy of "we understand that change is inevitable," is evident in its growth and scope. By adding online banking services, Citizens State Bank has embraced the inevitable.

How the CDs Compare

When compared to the 174 nationally available similar length-of-term CDs tracked by, which require a similar minimum deposit, Citizens State Bank’s 48-month CD APY currently ranks second.

When compared to the 185 similar length-of-term CDs tracked by that require a similar minimum deposit and are available nationwide, Citizens State Bank’s 60-month CD APY currently ranks third.

When compared to the 206 similar length-of-term CDs tracked by that require a similar minimum deposit and are available nationwide, Citizens State Bank’s 36-month CD APY currently ranks fifth.

The above rates are accurate as of 6/26/2018.

To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.

Related Pages: Tallahassee CD rates, Gainesville CD rates, 5-year CD rates, nationwide deals

klink   |     |   Comment #1
Kudos to Citizens for stating up-front ways to get your money back upon maturity.
Capper   |     |   Comment #2
Maybe they have changed something but earlier this year I had a CD mature. I had to actually mail them back the original certificate they had sent me. Luckily I still had it. But by the time I called them and found this out, I had to over night to make the grace period. So buyer beware, hold on to that certificate.
The Mighty Sven
The Mighty Sven   |     |   Comment #3
Helpful war story. Thank you for posting. Sending back the CD, while quaint, is so quintessentially twentieth century. The practice is ridiculous in 2018.
Citizens State Bank (FL) National Rate Leader in 1-, 2-, and 5-Year CDs

Citizens State Bank (FL) raised the rate on three of its CDs yesterday, making these CDs the nationwide rate leaders for their respective maturities:

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    24-month CD 1.55% APY

    60-month CD 2.35% APY

Each of these CDs requires a $1K minimum deposit to open and has no maximum balance cap. The Early Withdrawal Penalty is based on the individual CD’s length of term: 12-month CD/3 months interest penalty; 24-month CD/6 months interest penalty; and 60-month CD/12 months interest penalty.

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The new 5-year CD yields are 1.81% APY for a $100K minimum and 1.75% APY for a $1K minimum. The old yield was 2.05%.

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