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At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. Bankrate logo The Bankrate promise
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Citizens Bank is a traditional bank with more than 1,100 branches located in 11 different states. It offers a wide variety of financial products, including checking and savings accounts, personal loans, student loans, refinancing, retirement planning and wealth planning. Like most traditional banks, Citizens Bank savings rates are very low, with the highest APY topping out at .05 percent. Though Citizens Bank savings account rates are extremely low, it does offer some other savings terms that are advantageous, such as no minimum open balance. earned a 3.2 out of 5 in Bankrate’s overall rating. Citizens Bank savings rates
Let’s take a closer look at offered by Citizens: Account name APY Minimum deposit One Deposit Savings 0.01% Any amount Citizens Bank Platinum Savings 0.02% Any amount Citizens Bank Platinum Plus Savings 0.02% Any amount CollegeSaver 0.01% $25 if child is under age 6 $500 if child is age 6-11 Note: The APYs (Annual Percentage Yield) shown are as of Jan. 5, 2021. The APYs may vary by region. How Citizens Bank compares to top-yielding banks
The savings accounts offered by Citizens Bank have a much lower interest rate than many of the top-yielding banks. For example, currently offers a savings account rate of 0.66 percent, and no minimum balance is required. , which is the online division of Citizens Bank, offers savings accounts with competitive rates. The main reason to open a savings account at Citizens Bank is if you already use the bank for other financial purposes, such as checking. Its CollegeSaver accounts also offers a $1,000 bonus when the customer turns 18 when you make the minimum monthly contribution. To find up-to-date information on the best savings rates offered, check out the . Other savings options at Citizens Bank
Citizens Bank offers a number of other savings options that have marginally better interest rates. It has with terms between 11 and 24 months. They all require a minimum opening balance of $1,000. The APY varies depending on the CD and whether you have a checking account with Citizens Bank. It also offers IRA CDs for those who are more focused on growing their retirement savings. Featured image by simona pilolla 2 of Shutterstock. SHARE: Stephen Altrogge Related Articles