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Citizens Bank enables customers to give the gift of good savings habits this holiday season

Gift of Savings offer runs through Dec. 26; provides an extra $10 to start savings on right track

      

Providence, R.I.    (December 8, 2009) - In response to consumer demand for cash gifts this holiday season and growing awareness about the importance of savings, Citizens Bank is offering customers the opportunity to open savings accounts for their loved ones and receive an extra $10 to start them on the right track toward their savings goals. The Gift of Savings holiday promotion ends December 26, 2009.

“While consumers are entering the holiday shopping season feeling cautiously optimistic about the economy, the importance of saving remains top of mind. This offer enables customers to give their loved ones the gift of good savings habits, which can be used throughout their lifetime,” said Ned Handy, President, Citizens Bank, Rhode Island.

There are two ways to receive the extra $10 as part of the promotion. After opening an eligible savings account, customers will receive the $10 when they fund the account with a deposit of $100. They also can receive the $10 when they open a savings account with the minimum-required deposit and arrange for at least $25 to be transferred per month from their own account to the account they’ve opened on behalf of their loved one. In both cases, the $10 bonus will be awarded when the accounts are opened.

The special holiday offer applies to most Citizens savings accounts, including Green Savings, Citizens’ basic savings account with no minimum balance or monthly fee. The minimum balance to open a Green Savings account, which comes with free online banking and bill pay, is $25.

The $10 bonus also applies to CollegeSaver℠, which rewards customers who save a minimum of $25 per month until their child, grandchild, niece or nephew is 18 with a $1,000 bonus plus interest for opening an account by the child’s sixth birthday. Customers receive the $1,000 bonus plus all the accrued interest when the child turns 18.

About Citizens Bank

Citizens Bank is a division of RBS Citizens, N.A., operating its seven-state branch network in Connecticut, Delaware, Massachusetts, New Hampshire, New York, Rhode Island and Vermont. It has 82 branches and 150 ATMs in Rhode Island.

RBS Citizens, N.A. is a subsidiary of Citizens Financial Group, Inc., a $151 billion commercial bank holding company headquartered in Providence, R.I. CFG’s two bank subsidiaries are RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, and the Charter One brand in Illinois, Michigan and Ohio. CFG has non-branch retail and commercial offices in about 40 states. CFG is owned by RBS (The Royal Bank of Scotland Group plc).