Citizens Bank offers two very different savings experiences. Standard branch savings pays 0.01% APY with a $4.99/month fee. Citizens Access — Citizens’ online savings division — pays 4.50%+ APY with no fee and no minimum. Any Citizens customer seeking real savings growth should use Citizens Access.
Bottom line: Open Citizens Access for 4.50%+ APY. Standard Citizens savings at 0.01% is not a savings vehicle — it’s an overdraft buffer.
Citizens Savings Options
| Account | APY | Monthly Fee | Fee Waiver | Min Balance | Availability |
|---|---|---|---|---|---|
| Standard Savings | 0.01% | $4.99 | $200 balance or linked checking | $10 to open | Branch/online |
| Citizens Access HYSA | 4.50%+ | $0 | N/A | $0 | Online (all 50 states) |
| Citizens Access CDs | Higher (varies) | $0 | N/A | $0 | Online (all 50 states) |
Citizens Access: The Right Choice
Citizens Access High Yield Savings delivers:
- 4.50%+ APY — competitive with top online banks
- $0 monthly fee — no conditions required
- $0 minimum balance — earn full APY on any amount
- FDIC insured through Citizens Bank N.A.
- Available in all 50 states — no branch relationship needed
How to open:
- Go to citizensaccess.com
- Provide SSN, address, date of birth
- Link an external checking account (routing + account number)
- Fund via ACH from your checking account ($0 minimum)
- Earning 4.50%+ APY from first deposit
What 4.50% APY Earns
| Balance | Citizens Access (4.50%) | Standard Citizens (0.01%) | Chase Savings (0.01%) |
|---|---|---|---|
| $5,000 | $225 | $0.50 | $0.50 |
| $15,000 | $675 | $1.50 | $1.50 |
| $30,000 | $1,350 | $3.00 | $3.00 |
| $50,000 | $2,250 | $5.00 | $5.00 |
The difference between Citizens Access and Citizens standard savings at $15,000 is $673.50/year — pure lost income for customers sitting in the standard account.
Standard Citizens Savings: When It Makes Sense
The only practical use for Citizens standard savings:
- Overdraft protection: Link to Citizens One Deposit Checking — transfers automatically cover shortfalls
- Fee waivers: The $200 minimum to waive the $4.99/month fee is low; easy to maintain as a buffer
- In-person deposit needs: Standard savings can receive cash deposits at a branch; Citizens Access cannot
Citizens Access CDs
Citizens Access also offers CDs with terms from 1 year to 5 years at rates above the savings account. CDs require a funding commitment for the full term; early withdrawal penalties apply.
| Term | APY (approximate) |
|---|---|
| 1 year | 4.20%+ |
| 2 years | 4.25%+ |
| 3 years | 4.30%+ |
Citizens Access vs. Other Online HYSAs
| Bank | APY | Monthly Fee | Min Balance |
|---|---|---|---|
| Axos HYSA | 4.66% | $0 | $0 |
| Citizens Access HYSA | 4.50%+ | $0 | $0 |
| BMO Alto | 4.50%+ | $0 | $0 |
| Discover HYSA | 4.25% | $0 | $0 |
| Ally HYSA | 4.20% | $0 | $0 |
| Marcus HYSA | 4.10% | $0 | $0 |
Citizens Access is competitive at the top tier. For Citizens branch customers, it is the obvious savings choice over the standard savings account.
See also: Citizens Bank review | Citizens checking account | Best high-yield savings accounts | Citizens vs. TD Bank
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy