Citizens Access CD Review (September 2026): 4.00% on 8 Months, 2.75% on 5 Years
Written & reviewed by Hans Goldstein, EA, independent licensed insurance producer · CA license 4273294 · NPN 20602398Admitted to practice before the IRS
Rates checked on citizensaccess.com on September 24, 2026 (bank-dated 07/28/2026) · Updated
Citizens Access pays 4.00% APY on its 8-month Online CD and much less beyond it: 3.25% for 1 year, 3.00% for 2 years and 2.75% for 3 to 5 years, all with a $5,000 minimum. Citizens dates those rates July 28, 2026, and they were still posted on September 24, 2026. Only the 8-month term is competitive; the 5-year pays well under the best national 5-year CDs (4.35%-4.50%).
CD vs MYGA, after tax
What $100,000 earns in 5 years: CD vs MYGA, after tax
Rates used: CD 4.50%, the top nationally available 5-year CD (DepositAccounts, September 24, 2026); change it to the rate you are offered. MYGA 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| CD, interest taxed every year | $118,826 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the CD, after tax | $7,310 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge. In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
Citizens Access CD rates by term
| Citizens Access Online CD | APY | Interest rate |
|---|---|---|
| 8 months | 4.00% | 3.92% |
| 1 year | 3.25% | 3.20% |
| 2 years | 3.00% | 2.96% |
| 3 years | 2.75% | 2.71% |
| 4 years | 2.75% | 2.71% |
| 5 years | 2.75% | 2.71% |
How Citizens Access compares
| Option | Term | APY | Minimum | As of |
|---|---|---|---|---|
| Citizens Access | 8 months | 4.00% | $5,000 | 07/28/2026 |
| Citizens Access | 5 years | 2.75% | $5,000 | 07/28/2026 |
| Barclays Online CD | 12 months | 4.25% | $0 | 09/11/2026 |
| Capital One 360 CD | 11 months | 4.30% | $0 | 09/24/2026 |
| Sallie Mae Bank CD | 60 months | 4.40% | $2,500 | 09/24/2026 |
| Best nationally available 5-year CDs | 5 years | 4.35%-4.50% | varies | 09/25/2026 |
| A-rated-or-better 5-year MYGAs | 5 years | ~5.80%-6.00% | varies | 09/24/2026 |
- Use it for the 8-month term only. 4.00% for 8 months is fair; 1 to 5 years pays 2.75%-3.25%, below several no-minimum online banks.
- $5,000 minimum is higher than Barclays, Capital One or Synchrony (no minimum) and Sallie Mae ($2,500).
- Auto-renewal: a maturing CD rolls into the same term unless you act within the 10-day grace period.
- FDIC insured through Citizens Bank, N.A. (cert #57957); FDIC BankFind lists about $232.5 billion in total assets as of June 30, 2026. Balances at Citizens Bank and Citizens Access count together toward the $250,000 limit.
Citizens Access Savings pays 2.80% APY (bank-stated as of 07/17/2026).
Rates expire like milk.
The best MYGA, CD and savings rates change every few weeks. Get a short email when a rate on this page changes.
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Citizens Access 5-year CD vs. a 5-year MYGA: $250,000 math
| $250,000 for 5 years | Citizens Access 5-year CD at 2.75% | 5-yr MYGA at 5.80% |
|---|---|---|
| Rate | 2.75% APY, fixed | 5.80%, fixed for the term |
| Tax on earnings | Every year | Deferred until withdrawn |
| Value after 5 years, after 24% federal tax | ~$277,200 | ~$311,900 (tax paid at the end) |
| Protection | FDIC, $250K per ownership category | Insurer claims-paying ability + state guaranty association (limits vary by state) |
| Getting out early | Interest penalty | Surrender charge above the free-withdrawal amount; IRS 10% penalty before 59½ |
About $34,600 more after federal tax on the MYGA (24% bracket, state tax ignored). For money you may need inside two years, or that must stay FDIC insured, the MYGA is the wrong tool. MYGA benchmark: carriers rated A or better topped out around 5.80% to 6.00% on 5-year compound-interest MYGAs, per AnnuityRateWatch carrier data, September 24, 2026. Rates vary by state, premium and carrier.
Citizens Access CDs: FAQ
What are Citizens Access CD rates today?
Citizens Access lists 4.00% APY on the 8-month Online CD, 3.25% on 1 year, 3.00% on 2 years and 2.75% on 3, 4 and 5 years, with a $5,000 minimum. The bank dates those rates July 28, 2026; they were still the posted rates on September 24, 2026.
What is the Citizens Access 1-year CD rate?
3.25% APY (bank-stated as of July 28, 2026, still posted September 24, 2026). An earlier version of this page showed about 4.50%; that is out of date.
What is the Citizens Access CD minimum deposit?
$5,000 minimum balance to obtain the APY, per Citizens Access.
What happens when a Citizens Access CD matures?
It renews into a CD of the same term unless you make changes during the 10-calendar-day grace period after maturity, per the bank's disclosure.
Is Citizens Access FDIC insured?
Yes. Citizens Access is a division of Citizens Bank, N.A., FDIC certificate #57957. Deposits at Citizens Access and Citizens Bank are added together for the $250,000 limit.
Is a Citizens Access CD available in California?
Yes. California is on the bank's list of states where it offers personal CD accounts.
My take
Citizens Access is worth a look only for its 8-month CD at 4.00%. For 1 to 5 years its 2.75%-3.25% rates trail the market, and for five-year money a MYGA pays roughly twice as much before tax.
Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) and is not affiliated with Citizens Bank, N.A. or Citizens Access. He does not sell CDs. Rates are copied from the sources named, as of the dates shown; confirm the current rate before opening. MYGA figures are illustrations, not quotes.
Locking money for 3 to 5 years?
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Citizens Access pays 2.75% on 3 to 5 years. See what a fixed annuity pays on the same term, tax-deferred.
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Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Disclosure
This review is based on the carrier's public product materials and rates as of the date shown above. CD rates change frequently, typically weekly. Always confirm current values against the bank's published disclosure before opening an account. MYGA rates change monthly; always confirm against the carrier's most recent rate sheet and contract before purchasing. This is general education, not a personal recommendation or an offer of any product. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated annuity carriers and is not a bank, is not affiliated with Citizens Bank or Citizens Access, and does not sell CDs. No compensation has been received from any bank or carrier in connection with the publication of this review. Always read the actual contract and consult a licensed advisor before purchasing any annuity. CDs and MYGAs are long-term contracts with early-withdrawal penalties; they are not suitable for funds you may need before maturity. FDIC coverage limits and state insurance guaranty association limits are subject to change.