Citizens Bank is offering online-only certificates of deposit with competitive rates.

Competitive Rates

Citizens Bank offers competitive rates on their online-only certificates of deposit (CDs), with rates varying depending on the term length and when you open the account. These rates are comparable to what you would find at brick-and-mortar banks.

Short Term Options

Citizens Bank offers short-term CD options, including 6-month and 14-month CDs, which are not as common at other banks. This makes Citizens Bank a good option for those who want to lock in a fixed rate for a shorter period of time.

Minimum Deposit

The minimum deposit for a Citizens Bank CD is $250, which is higher than some other banks. However, there are no minimum deposit requirements for Ally CDs, making them a more accessible option for those with less money to invest.

Lock-In Period

Citizens Bank CDs have a lock-in period of at least one year, which means you cannot access your money without paying a penalty. This is a common feature of CDs and is important to consider before opening an account.