Citizens Bank Savings Interest Rates: What You’ll Earn in 2025
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
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Citizens Bank offers a full array of financial products and services, including a variety of savings account options to meet different needs. Citizens Bank savings interest rates are on the lower side, however, there are no minimum deposit requirements, and monthly maintenance fees are waivable.
Read on to explore all the savings accounts offered by Citizens Bank, including their features and current interest rates.
Current Citizens Bank Savings Interest Rates
Curious about which savings account is the best for you? Use this comparison table to help you find the best option:
| Account Type | Annual Percentage Yield | Minimum To Open | Monthly Fees |
|---|---|---|---|
| One Deposit Savings | No minimum | $4.99, can be waived | |
| Citizens Quest Savings | No minimum | $0, must be linked to Quest Checking | |
| Citizens Private Client Savings | No minimum | $0, requires Private Client Checking and $200K or more in combined balances | |
| Citizens Access High-Yield Savings | At least one cent | None |
Citizens Bank Savings Accounts: Key Features and Fees
Citizens Bank offers four different savings accounts — here’s a look at their key features and fees.
One Deposit Savings
- Most basic savings account
- No minimum deposit
- Waivable $4.99 monthly maintenance fee
- Fee waivers include: (1) Being under 25 or over 64 years old, (2) Maintaining a minimum daily balance of $200 or more, (3) Making at least one monthly deposit of any amount
- Interest rate is APY
- Best for: Everyday savers who want a basic savings account with easy fee waivers.
Citizens Quest Savings
- You need a Citizens Quest Checking account to open a Citizens Quest Savings account
- No minimum deposit
- No monthly maintenance fee
- Extra perks include: (1) Use of non-Citizens ATMs (although the other bank may charge a fee), (2) Wire transfers, (3) Checks, (4) Overdraft protection plans
- Interest rate is APY
- Best for: Customers with Quest Checking who want to build a relationship and keep moderate balances without monthly fees.
Citizens Private Client Savings
- Citizens Private Client Savings account automatically comes with a Citizens Private Client Checking account
- You’ll need at least $200,000 in monthly combined investment and deposit account balances to maintain a Private Client account.
- Extra perks include: (1) Unlimited refunds on fees charged by other banks when using non-Citizens ATMs, (2) Discounts on mortgages, home equity lines of credit and education refinance loans, (3) A 1% match on new investments up to $2,000
- Interest rate is
- Best for: High-net-worth individuals who maintain a higher account balance and want concierge banking service and bundled benefits.
Citizens Access High-Yield Savings
- Online only high-yield savings account
- Only need one cent to open the account
- You can access the money in your online savings account by linking it to an account at another bank and transferring money, or by asking for a check to be mailed to you.
- Interest rate is APY
- Best for: Online-first savers seeking a high-yield, no-fee savings account without needing in-branch support.
Other Savings Options at Citizens Bank
In addition to the traditional savings accounts, Citizens provides other ways to help you save money.
Citizens Bank Money Market Accounts
Money market accounts usually offer a higher interest rate than traditional savings accounts but may limit the number of withdrawals you can make by check, debit card or electronic transfer.
There are three money market accounts available through Citizens, all with no opening deposit minimums. However, opening with a deposit of at least $25,000 not currently held in a Citizens account will earn you preferred rates on a Quest Money Market account.
Here are the money market interest rates and monthly fees for each money market account type:
| Money Market Account | APY | Fees |
|---|---|---|
| Personal Money Market | $10, waived with $2,500 minimum daily balance | |
| Citizens Quest Money Market | -Standard: Up to -Preferred: Up to |
$0 with Quest Checking account |
| Citizens Private Client Money Market | -Standard: Up to -Preferred: Up to |
$0 with Private Client Checking account |
Citizens Bank Certificates of Deposit
Citizens Bank offers two CDs, one for five months and another for 10 months. To open a new account, you’ll need a minimum deposit of $25,000. Both CDs earn APY.
How Citizens Bank Savings Rates Compare To Other Banks
Want to know how Citizens Bank’s savings rates stack up against other banks? Check out this table:
| Account | APY | Fees | Minimum Deposit |
|---|---|---|---|
| Citizens One Deposit Savings | $4.99, waivable | $0 | |
| Citizens Access Savings | None | $0.01 | |
| Ally High-Yield Savings | None | $0 | |
| Synchrony High-Yield Savings | None | $0 | |
| Marcus at Goldman Sachs | None | $0 |
Looking for Higher Rates? Consider These Alternatives
There are other opportunities to earn higher rates. Here are some alternatives:
Bread Financial
At Bread Financial, you can open a high-yield savings account with a minimum deposit of $100 and an APY of .
SoFi®
SoFi Checking & Savings, Member FDIC, offers up to APY on new savings accounts when you set up eligible direct deposit, plus you’ll get access to budgeting tools and FDIC insurance. It’s a strong choice if you want an all-in-one financial platform.
Varo Bank
Varo Bank offers up to APY if you meet certain conditions like monthly direct deposits and limited balance caps. It’s a good option for younger, mobile-first users who can meet those requirements.
How To Open a Citizens Bank Savings Account
You can open a Citizens Bank savings account in just a few steps:
- Decide whether you want to open your savings account online or in person.
- For online accounts, visit CitizensAccess.com. For traditional accounts, go to CitizensBank.com or visit a local branch.
- If opening your account online, click “Open account” online and follow prompts to start the application.
- Whether you’re opening your account online or in person, you will need to provide the following information: full name, address, date of birth, phone number, Social Security number (SSN) and a valid government-issued ID.
- Choose a way to fund your account. This could be an external transfer from another bank in person or online. You could also bring a check or cash if you’re opening the account in person.
- Agree to terms and disclosures, and submit your savings account application either in person or online.
Final Takeaway: Is a Citizens Bank Savings Account Right for You?
A Citizens Bank savings account may be right for you if you value branch access, easy fee waivers and the convenience of bundling accounts with one provider — especially through options like One Deposit Savings or Quest Savings. For customers with large balances, Private Client Savings offers additional service perks.
However, if your top priority is earning interest, Citizens Bank savings interest rates fall well below national averages, even for their online-only account.
Citizens Bank Savings Accounts FAQ
Have questions about Citizens Bank savings accounts? This FAQ covers the key details you need to know, from interest rates to account features.- Does Citizens Bank offer high-yield savings?
- Citizens offers an online-only Citizens Access savings account that earns 3.70% APY.
- Can I open a Citizens Bank savings account online?
- Yes, you can open a Citizens Bank savings account online.
- What is the interest rate for a savings account at Citizens Bank?
- If you'd like to open an online high-yield savings account, Citizens Bank offers a 3.70% APY. The other savings accounts offer APYs up to 0.03%.
- Which bank gives a 7% interest rate on savings accounts?
- A 7% interest rate is rare. Currently, Community Financial Credit Union in Michigan offers this interest rate but there are some restrictions to qualify.
- Where can I get 5% interest on my savings account?
- You can find interest rates in the 5% range at Varo and Fitness Bank.
Nicole Valentine contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of June 17, 2025.
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.
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
