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Citizens Access Bank CD review

Gain access and higher rates with CD laddering.’s rating: 1.8 / 5.0


Citizen’s Access Bank, the online-only division of Citizens Bank, offers ways to customize your CD with a ladder program. You’ll get high rates and a specialized CD that lets you liquidate before maturity with no penalty for early withdrawal. But you’ll need at least $5,000 to open a CD.

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1-year APY


3-year APY


5-year APY


Minimum deposit to open$5,000
Interest compoundingDaily
1-year APY0.1%
2-year APY0.6%
3-year APY0.65%
4-year APY0.7%
5-year APY0.75%
Early withdrawal penaltyEarly withdrawal penalty not advertised

Review by

Heather Petty is a personal finance writer at Finder specializing in home loans, banking and insurance. After falling victim to a disreputable mortgage broker when buying her first home, she’s on a mission to help readers avoid similar experiences when managing their own finances. A self-proclaimed word nerd, her writing has been featured on MSN, and, among others. Heather previously worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. She holds a bachelor’s degree in English with a minor in journalism from the University of Nevada, Reno.

Expert review

With Citizens Access Bank CD, you can earn up to 0.75% APY. This is a solid interest rate, but not one that stands out from its competitors. If you’re concerned about locking your money for an entire year, its 11-month Liquid CD allows you to make an early withdrawal with no penalty. You also have the option of building a CD ladder to disperse your money between different terms.

How do I open a Citizens Access CDs account?

Open a Citizens Access CD in seven steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. Select Open Account from the Citizens Access website.
  3. Select the CD you want to open and the amount of your deposit. Click Continue.
  4. Enter your personal information and click Continue.
  5. Read the account disclosures and accept the terms of your CD account. Click Continue.
  6. Create a username and password to access your account online. Click Continue.
  7. Choose how to fund your account.


You must meet the following eligibility requirements to open a CD account:

  • At least 18 years old
  • US resident or citizen
  • Social Security number
  • $5,000 minimum deposit

Required information

Have the following information ready before you apply:

  • Home address
  • Social Security number
  • Phone number
  • Date of birth
  • Occupation

Funding options

Add funds to your Citizens Access account in one of the following ways:

  • Bank transfer from a linked account
  • Deposit or mail a check

Benefits of a Citizens Access CD

This bank offers CDs with no fees along with these perks:

  • Access to interest. The interest you earn automatically gets credited to your CD. You’ll have the option to withdraw that interest by transferring it to a Citizens Access savings account or linked external account.
  • Early withdrawals. With a liquid CD, you can access your money penalty-free and make a one-time withdrawal of your entire balance and interest seven days after you fund your account.
  • Daily compounding interest. The interest on your CD compounds daily and posts to your account monthly to help you meet your savings goals.
  • CD Ladder. Use the CD ladder tool to take advantage of the highest APY rates, while still having a CD that matures every year.

What to watch out for

Keep in mind these potential drawbacks before you apply for a CD with Citizens Access:

  • High minimum deposit. You’ll need $5,000 minimum to open a CD.
  • No wire transfers. The only way to deposit or withdraw your money is through a linked external account or by check.
  • No mobile app. Unlike other online-only banks, this one has no mobile app. Instead the bank has chosen to optimize their website for mobile devices and offers check deposits through your mobile web browser.

But if you can’t meet the bank’s high $5,000 deposit, compare the best CD rates to find one that’s more accessible.

Compare with other CDs

Name Product 1-year APY 18-month APY 2-year APY 3-year APY 5-year APY
Quontic Bank CD
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less
State Exchange Bank CD
Locally-owned independent community bank. FDIC insured. No fees.
CIT Bank Term CDs
Choose from a range of terms with no maintenance fees and $1,000 minimum to open.
Discover CDs
Start saving with $2,500 and enjoy flexible terms from 3 months to 10 years with no account fees.

Compare up to 4 providers

How do I cash in a CD?

When your CD matures, you have a 10-day grace period to choose from the following options without penalty:

  • Do nothing. If you wait out the grace period, your CD will automatically renew for the same term with an updated interest rate.
  • Make a partial withdrawal. Withdraw some of your funds. As long as you keep at least $5,000 in the CD, it will auto renew for the same term with an updated interest rate.
  • Change your term. Change the term before your CD renews.
  • Redeem your CD. If you withdraw all of your funds, your account will close and your CD is considered “redeemed.”

How to contact Citizens Access customer service?

To talk to customer support, you can send a security message from the website or call the service center at 888-201-6505 on weekdays from 8 a.m. to 10 p.m., Saturdays from 9 a.m. to 3 p.m. and Sundays from 10 a.m. to 3 p.m. EST.

What other savings products does Citizens Access offer?

This bank only offers one additional banking product:

  • Online savings account. You’ll need at least $5,000 to open this account and earn 0.80% APY.

Frequently asked questions

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We rate CDs and share certificates on a scale ranging from one to five stars based on what matters most to you. We consider two factors equally when rating CDs: minimum deposits and annual percentage yields (APYs) relative to term length. If a bank requires a different minimum opening deposit depending on the chosen term, we rate the CD based on the average minimum deposit across all terms. And although some institutions offer CDs with terms ranging from one week to 20 years, we only consider term lengths the FDIC uses in its monthly updates on national rates.

Read the full methodology of how we rate CDs.

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