Welcome to Citizens Bank. This site is screen reader friendly.

Skip to content Skip to main navigation Skip to main sub navigation Skip to footer navigation

Deposit Account Overview

Learn about money market accounts, and certificates of deposit (CDs) and traditional savings accounts

There are a few different savings account options available. No matter your account balance, interest rate and savings horizon, there is an account to fit your needs.

Deposit accounts are designed for saving money on a regular basis or for keeping lump sums of money that you may not need for some time. Depending on the type of savings accounts, you will earn interest on the money you deposit, and the interest rate may be higher the longer you are prepared to keep your money in the account.

Another type of deposit account is a money market account (MMA), which typically earns a higher interest rate but requires a larger account balance. Typically, checks can be written, subject to certain restrictions, and you'll earn a higher rate of interest in this type of account compared to a savings account

Certificates of deposit (CDs) are similar to savings accounts, but they are set to a fixed term (often three months, six months, or one to five years), and, usually, a fixed interest rate. You cannot withdraw the money before the fixed term is over without being assessed an early withdrawal penalty. Typically, your interest rate is higher the longer you are prepared to leave your money. It is expected that a CD be held to the end of the term, at which time the money may be withdrawn together with the accrued interest.

Helpful Products
Featured Articles
Tools & Resources



Personalize MoneyHelp

Topics by personal interest


Branch/ATM Locator

Over 1,100 branches close by.


Contact Information

Receive Email Updates

Sign up now to receive offers and updates from Citizens Bank.