CD Review Bank: Citizens Bank Insurance: FDIC to $250K (Cert #57957) Last updated: 2026-06-27

Citizens Bank CD Review (2026) — Northeast Retail CDs

Quick take: This page covers Citizens Bank's retail branch CDs — not Citizens Access (its online-only sister brand). Featured CDs at retail pay ~3.85% on 7 and 14-month terms; Standard CDs pay 0.05-0.10%. If you want Citizens' best online-only rates, see Citizens Access separately.

Hero stats · Citizens Bank CDs

APY Range

0.05% – ~3.85% (Featured)

FDIC Cert #

57957

Bank Size

~16th-largest US bank ($220B assets)

Min Deposit

$1,000

EWP

90–365 days interest

As of

2026-06-27

Citizens Bank CD rates — full term ladder

Here’s the current Citizens Bank CD rate sheet across all standard and promotional terms as of 2026-06-27:

Term	APY
Featured 7-Month	3.85%
Featured 14-Month	3.65%
Featured 19-Month	3.40%
Standard 3-Month	0.05%
Standard 6-Month	0.05%
Standard 1-Year	0.05%
Standard 2-Year	0.05%
Standard 3-Year	0.10%
Standard 5-Year	0.10%

Rates as of 2026-06-27. Citizens Bank re-prices based on Fed funds and competitive pressure. Confirm current rates on the bank’s site before opening.

Pros and cons

Pros

Featured 7-Month at ~3.85% is competitive
Strong Northeast branch coverage (~1,100 branches)
FDIC-insured (Cert #57957)
Online and in-branch opening
Low $1,000 minimum

Cons

Standard rates 0.05-0.10%
Featured rates rotate — not all terms available
Citizens Access online sister-bank often pays more (compare both)
Northeast-only footprint
Long-term CDs (3-5 yr) badly trail online and MYGAs

Why this CD is so much lower than online competitors

Citizens' ~1,100 Northeast branches carry typical dense-metro real estate costs. Note: Citizens Access (the online-only arm) operates with much lower overhead and pays higher APYs on the same FDIC-insured deposits. If you don't need branch access, use Access.

The branch-overhead math

A megabank branch costs roughly $1–2M per year to operate (real estate, staffing, security, utilities, IT, compliance). Multiply across thousands of branches and the bank’s effective cost of deposits is 2–3% before paying you a dime. An online bank with zero branches can pass nearly that entire spread back to depositors as APY. That’s why Marcus, Ally, Synchrony, and Discover routinely pay 4.00–4.50% while megabanks pay 0.05%.

Better alternatives at higher APY

If branch access isn’t critical for you, these alternatives currently pay materially more on the same FDIC-insured deposit:

Citizens Access (sister online bank) — same parent, higher APY
Marcus 1-Year CD — ~4.50%
Ally 5-Year CD — ~4.00%

For a 30+ bank comparison at the 5-year point, see Best 5-Year CD Rates 2026.

When a MYGA beats this CD

A Multi-Year Guaranteed Annuity (MYGA) is the insurance-industry equivalent of a CD: lock a fixed rate for a fixed term, principal-protected. The pricing gap vs. a megabank CD is dramatic.

Math at $250,000 over 5 years:

Citizens (retail) 5-year Standard CD pays 0.10%. A 5-year MYGA pays ~5.50%. On $250,000:

Citizens 5-Year CD @ 0.10%: $251,253 ending balance
5-Year MYGA @ 5.50%: $326,740 ending balance
Difference: $75,487 — in favor of the MYGA

MYGAs also defer tax on interest until withdrawal — CDs are taxed annually as ordinary income whether you touch the interest or not. The trade-off: MYGAs have a fixed surrender schedule (usually with 10%/yr free withdrawal); CDs have shorter penalty periods. For taxable retirement money you don’t plan to touch, the MYGA almost always wins. See CD vs MYGA Comparison.

FAQ — Citizens Bank CDs

Is Citizens Bank the same as Citizens Access?

Same parent (Citizens Financial Group), different brand. Citizens Bank = retail branch network in the Northeast. Citizens Access = online-only sister brand with higher posted rates. Both FDIC-insured under the same charter.

Current Citizens Bank CD rate?

Featured CDs ~3.40-3.85% on 7, 14, 19-month terms. Standard CDs 0.05-0.10%.

FDIC-insured?

Yes (Cert #57957).

Minimum deposit?

$1,000 for both Featured and Standard CDs.

Early withdrawal penalty?

90 days interest under 12 months; 180 days for 12-23 months; 365 days for 24+ months.

Does Citizens offer IRA CDs?

Yes, at retail branches and online.

Should I use Citizens Bank or Citizens Access for my CD?

If you don't need a physical branch, use Citizens Access — same FDIC backing, higher posted APYs. If you want in-branch service or have a Citizens checking account, the retail Featured CDs are reasonable.

Before you lock in — see what a MYGA pays at the same term

Hans Goldstein, independent licensed insurance producer.

If you’re looking at a Citizens Bank CD, you should see what an A-rated MYGA pays for the same lock-up. The yield gap is often 100–500 basis points — on a $250K deposit over 5 years that’s real money.

Drop your info and you’ll get a written side-by-side: this CD vs. the top 3 MYGAs at the same term, with end-of-term math at your actual deposit amount. No pitch, no follow-up calls unless you ask.

Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers

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Disclosure

This review reflects publicly posted bank rates and approximate APYs as of 2026-06-27. CD rates change frequently — confirm current rates directly with Citizens Bank before opening an account. This article is general information for educational purposes; it is not a personalized recommendation, solicitation, or offer of any specific banking or insurance product. Citizens Bank is FDIC-insured to the limits stated; coverage is per depositor, per ownership category. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated annuity carriers; he is NOT a bank employee, broker-dealer, or registered representative, and is not paid by Citizens Bank for this review. No compensation has been received from Citizens Bank in connection with this content. MYGA comparisons reference rates from A-rated carriers as of the date stated; carrier rates change monthly. Always read the actual CD disclosure or annuity contract before purchasing.