Citizens Bank Money Market Rates: What You’ll Earn and When They Make Sense
Written by
Rudri Bhatt Patel, CFHC™
Edited by
Joe Evans
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If you’re checking Citizens Bank money market rates, you’re probably asking a simple question: Is this a reasonable place to keep my cash right now, or could it be earning more elsewhere?
Citizens offers multiple money market options that emphasize relationship banking and branch access, not top-of-market yields. That can work in certain situations — but it’s important to understand how the rates actually compare before parking larger balances.
Citizens Bank Money Market — At a Glance
Account Typical APY Range* Balance Requirements Best For Key Trade-Off Personal Money Market Around about 0.01% Low minimums Basic liquidity Minimal interest Quest® Money Market (Preferred) Mid-2% range (with requirements) $25,000+ new money + relationship Existing Citizens clients Still trails top yields *APYs are variable and subject to change. Preferred rates require specific balance and relationship conditions.
Quick takeaway: Citizens money market accounts are designed for convenience and existing relationships, not for maximizing interest.
Citizens Bank Money Market Rates Right Now
Citizens offers two primary personal money market options. Your actual APY depends on balance size, whether funds are considered “new money” and whether you qualify for preferred relationship pricing.
Citizens Personal Money Market
This is the standard money market account available to most customers.
- APY: typically sits near the very low end of the market
- Balances: tiered, but higher tiers offer only marginal improvements
- Access: full branch, ATM, online and mobile banking
What this means:This account functions as a cash access tool, not a growth vehicle. Even sizable balances earn very little interest.
Citizens Quest® Money Market (Preferred Rates)
The Quest Money Market is Citizens’ higher-yield option for customers who meet relationship criteria.
- Preferred APY: generally in the mid-2% range
- Requirements: qualifying relationship + minimum new money deposit
- Standard APY (non-preferred): remains low, even at higher balances
What this means:Quest narrows the gap versus basic branch accounts but still leaves meaningful yield on the table compared with stronger money market options available today.
Do Citizens Bank Money Market Rates Still Stack Up?
Short Answer:Citizens Bank’s money market accounts remain materially uncompetitive on yield, even after factoring in Quest relationship rates.
How Citizens Money Market Rates Compare Today
Citizens vs National Averages
Based on FDIC data:
- The national average money market rate remains well under 1%
- Citizens Personal Money Market generally falls below that average
- Quest Preferred rates exceed the average but don’t lead the market
Citizens vs High-Yield Money Market Accounts
Many high-yield money market accounts currently sit in the upper-3% to around 4% range, meaning:
- Citizens Personal MM lags dramatically
- Quest MM reduces the gap, but still underperforms on larger balances
On $50,000, the difference between low-yield and high-yield options can amount to thousands of dollars per year.
Who Citizens Bank Money Market Accounts Are Best For
Best Fit
- Existing Citizens customers consolidating accounts
- Savers who value branch access and in-person service
- Short-term cash where convenience matters more than yield
Less Ideal
- Rate-focused savers chasing competitive APYs
- Large idle balances where opportunity cost is meaningful
- Digital-first users comfortable managing accounts online
Citizens Money Market vs Other Cash Options
Citizens money market accounts prioritize access and familiarity.
Versus high-yield money market accounts:Higher-yield accounts typically pay significantly more without relationship hurdles.
Versus high-yield savings accounts:Savings accounts often offer similar or better rates with simpler structures.
Versus CDs:CDs may pay more but lock up funds. Citizens money markets favor flexibility over return.
Final Take to GO: Are Citizens Bank Money Market Rates Worth It?
Citizens Bank money market accounts can make sense if you value branch access, relationship banking and simplicity — especially for smaller or frequently accessed balances.
From a yield perspective, however, they consistently trail stronger money market options. Many savers use Citizens for everyday banking while placing larger cash balances in higher-yield accounts to avoid letting low rates quietly erode their returns.
Citizens Bank Money Market FAQ
- Are Citizens Bank money market accounts FDIC-insured?
- Yes. Deposits are FDIC-insured up to applicable federal limits.
- Does Citizens offer high-yield money market rates?
- Citizens offers higher rates through its Quest Money Market, but yields remain below top market options.
- What is required to earn Quest Money Market rates?
- Preferred rates typically require a qualifying relationship and a minimum amount of new money.
- Is Citizens a good choice for large cash balances?
- For large balances, higher-yield money market accounts generally provide stronger returns.
Methodology: GOBankingRates analyzes deposit rates from banks and credit unions with nationwide availability. The best rates are identified from this group by focusing on APY. Institutions listed in the daily chart are insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
Financial institutions may require certain eligibility criteria — such as membership, existing accounts or location-based restrictions — to open an account or qualify for the listed rates. Always verify account terms, conditions and regional availability with the institution before applying.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Jan. 29, 2026.
