Citizens Bank CD Rates Review: Better Rates With Checking Account

See if Citizens Bank's CD rates will work for you.

Although Citizens Bank operates branches only in 11 states — Connecticut, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Delaware, Michigan and Ohio — don’t think it’s not a major financial institution. In fact, it’s one of the oldest and largest in the U.S., boasting $153.5 billion in assets. Its integrated experience includes a full range of banking products, mobile and online banking and a 24/7 customer contact center.

In addition, Citizens Bank offers CDs. Use the charts below to review what bank CD rates you’ll find at Citizens, then dive deep and decide if this is the best CD option for you.

Citizens Bank CD Rates

CD TermMin. Opening DepositAPY without checkingw/ Platinum Checkingw/ Platinum Plus Checking
Breakable 12-month CD$10,0000.01%0.01%0.01%
Rates are accurate as of July 10, 2018.

Citizens Bank CDs: Standard Features

If you use Citizens Bank’s checking account, you can get some great CD rates with the 15-, 17- and 36-month options. Citizens Bank offers seven different CDs, all of which are FDIC-insured, which means each depositor is insured for at least $250,000. The accounts also offer:

  • A range of fixed yields and terms
  • Zero monthly maintenance fees
  • 24/7 online, mobile and phone banking

Find Out: 9 Tips for Choosing a CD Account

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Citizens Bank CD Rates

At Citizens Bank, you can earn a higher CD rate if you have a Platinum Checking account, and you’ll earn the best CD rates if you have a Platinum Plus Checking account. Review the chart above to see exactly what interest rate you’ll earn for each account. You’ll find some current CD rates that might make Citizens a wise choice for a CD. Note that Citizens does not offer five-year CDs, which is unfortunate, as five-year CD rates can be high. The chart below shows you how much you can earn with certain CDs over time:

How Much You’ll Earn Over Time
Citizens Bank Checking AccountInitial Deposit14-month CD36-month CD48-month CD
APY without checking$1,000$1,000.35$1,000.90$1,001.20
APY with Platinum Checking$1,000$1,000.47$1,052.32$1,002
APY with Platinum Plus Checking$1,000$1,000.58$1,0061.83$1,004.01
Rates are current as of July 10, 2018.

Citizens Bank CD Fees

You won’t pay any fees for your Citizens Bank CDs, but if you withdraw your money before the term is up, you will pay a penalty. If, however, you opt for the 36-month CD, you will be able to make one full or partial withdrawal during your account term without paying any penalty — this is a nice perk if you think you might have to take out some money before the account reaches maturity. If you choose the Breakable 12-month CD, you can also make one full or partial withdrawal without penalty during the term.

Citizens requires a $1,000 minimum deposit for opening most of its CD accounts, but if you choose the Breakable CD option, you’ll need to ante up $10,000 for a deposit.

Understand: How Often Do CD Rates Change?

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Pros and Cons

Every financial product has its strengths and weaknesses. Here are some things to consider when you’re deciding whether to apply for a Citizens Bank CD:


  • 1.90% APY on 17-month CD for Platinum Plus Checking account holders
  • 1.75% APY on 15-month CD for Platinum Plus Checking account holders
  • FDIC-insured
  • Citizens Bank online banking
  • 36-month CD rates higher — with a checking account — than the national average


  • Lower CD interest rates if you don’t have a Citizens Bank Platinum or Platinum Plus Checking account
  • $1,000 minimum opening deposit for most accounts
  • $10,000 minimum opening deposit for Breakable 12-month CD
  • You’ll find a better rate on a 36-month CD at some online banks, such as Ally Bank, Synchrony Bank, Barclays and Marcus by Goldman Sachs.

Consider: Citizens Bank Savings Account Review: Easy Savings to Meet Your Goals

Is a Citizens CD Right for You?

If you’re interested only in a CD, you can get some pretty great rates from Citizens Bank, particularly if you are a Platinum or Platinum Plus Checking account holder at the bank. In addition, Citizens makes it easy for you to bank: You’ll have access to approximately 1,150 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. If you love the convenience of online banking, the Citizens Bank online program has you covered with mobile and online banking, plus 24/7 customer service.

More on CDs

GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met in order to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account. 

About the Author

Barri Segal has 20+ years of experience in the publishing and advertising industries, writing and editing for all styles, genres, mediums, and audiences. She has been writing on personal finance topics for 12 years and gains great satisfaction from making a difference in consumers’ lives.