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The below rates are for Rhode Island. Please update your ZIP code to see pricing, rates and promotions in your area.

Online CD (Certificate of Deposit)

Lock in a fixed rate with an online-only certificate of deposit.

5-Month CD

Minimum balance to open: $25,000 new money required

  • Annual percentage yield (APY)1: #ProductLine=ODS|Brand=citizensbank|Product=CD|ProductName=5 month|Code=RCD-807-DF|ProductLevelCode=NOR|PromoExpiryDt=PExD|ProductAttribute=CurrentAPY#%
  • Available with a Citizens Quest® or Citizens Private Client® Checking account
  • Early withdrawal penalties may apply
Open 5-Month CD

10-Month CD

Minimum balance to open: $25,000 new money required

  • Annual percentage yield (APY)1: #ProductLine=ODS|Brand=citizensbank|Product=CD|ProductName=10 month|Code=RCD-310-DF|ProductLevelCode=NOR|PromoExpiryDt=PExD|ProductAttribute=CurrentAPY#%
  • Available with a Citizens Quest® or Citizens Private Client® Checking account
  • Early withdrawal penalties may apply
Open 10-Month CD

CD Features and Benefits

Branches and ATMs

Visit us at more than 1,000 branches and over 3,000 ATMs

Safety & Security

Bank securely with 24/7 fraud monitoring and FDIC insurance

Personalized Guidance

Learn more from one of our bankers. Schedule an appointment

24/7 Banking

Bank anytime, anywhere with Online and Mobile Banking*

Certificate of Deposit FAQs

CDs are similar to savings accounts, but they are set to a fixed term (usually ranging from one month to ten years) and a fixed interest rate. It is expected that a CD be held to the end of the term, at which time the money may be withdrawn with the accrued interest. Early withdrawals of the principal balance may result in a fee, so ensure you will not need access to these funds for the term of the account before opening your CD.

Annual Percentage Yield (APY) expresses an annual rate of return taking into account the effect of compounding.

Find out more about Annual Percentage Yield (APY).

Compound interest is the concept of adding accumulated interest back to the principal, so that interest is earned on interest from that moment on.

An interest rate is the rate at which a financial institution agrees to pay you back for holding your money.

No, once your CD account is opened you cannot add additional funds to the account. After your CD account reaches maturity, you will have a 10-day grace period where you can add additional funds to your renewing CD account.

If you withdraw the principal balance from your CD prior to maturity, you will be charged an early withdrawal penalty based on the term of your CD account.

The applicable early withdrawal penalties are as follows:

  • Short-term CD (Less than one year) - 90 days interest on withdrawal amount, or half the remaining interest to be earned, whichever is greater. Plus a Transaction Penalty - $50
  • Long-term CD (one year or longer) - 180 days interest on withdrawn amount, or half the remaining interest to be earned, whichever is greater. Plus a Transaction Penalty - $50

You can withdraw interest credited to your CD account before the maturity of the term of your CD without bank penalty.

We will provide you with a CD Maturity notice 35 days prior to your CD account’s maturity date. The maturity date is the last day of your CD account’s term. There is a 10-day grace period that begins the day after your maturity date. During this 10-day grace period you have the following options:

  • Renew your CD with the same term or a different term (if renewing you can add additional funds);
  • Request a partial withdrawal of funds from your account without penalty; or
  • Close your CD by withdrawing all of the funds from your account without penalty

© Citizens Financial Group, Inc. All rights reserved. Citizens is a brand name of Citizens Bank, N.A. Member FDIC

1 APY is accurate as of #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=currentDate# and subject to change (#Json=Label_Lookup|Brand=citizens|TargetElementType=span|TargetElementId=|Key=Region Label#). You must have or upgrade to a Citizens Quest® Checking account or Citizens Private Client® Checking account. Must open with funds not currently on deposit with Citizens. Any funds transferred from Citizens Access should not be considered “New Money” for this offer. APY assumes interest remains on deposit until maturity date. Penalty for early withdrawal. This CD will renew automatically upon maturity.

2 APY is accurate as of #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=currentDate# and subject to change (#Json=Label_Lookup|Brand=citizens|TargetElementType=span|TargetElementId=|Key=Region Label#). You must have or upgrade to a Citizens Quest® Checking account or Citizens Private Client® Checking account. Rates apply to new accounts and may not apply to existing accounts. APY assumes interest remains on deposit until maturity date. Penalty for early withdrawal. This CD will renew automatically upon maturity.

Call us or visit a branch to apply or learn more about other available terms, competitive promotional CD and Money Market products with high yields or to roll over an existing Citizens CD

* Wireless carrier, text, and/or data charges may apply.

Citizens offers personal savings accounts in the following states: CT, DC, DE, FL, MD, MA, MI, NH, NJ, NY, OH, PA, RI, VT or VA

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