What is a money market account?

A money market account is a variable APY account similar to a savings account which may earn a higher interest rate compared to savings for customers who do not need frequent access to their funds. Click here for more information about money market accounts.

What is the minimum deposit to open a money market account and how do I deposit funds into my account?

You may open a Citizens Money Market account with any amount. Funding options vary. When opening in branch or online your funding options will be provided. Please refer to the Personal Deposit Account Fees and Features Guide for additional information.

Do I have to maintain a minimum balance in my money market account?

While we don't require a minimum balance to open, some accounts and/or promotional offers may have requirements that must be satisfied. See your promo offer for more details.

Do money market accounts have transaction limits or fees?

Money market accounts allow unlimited deposits and withdrawals at branches or ATMs. However, certain transactions, like online or phone transfers, checks, debit card purchases, preauthorized payments, and outgoing wires are limited to 6 per statement cycle. Exceeding these limits may result in your account being converted to a non-interest-bearing checking account. Some money market accounts have a monthly maintenance fee that can be waived by meeting minimum balance requirements. Please refer to the Personal Deposit Account Fees and Features Guide for additional information.

Can I write checks or use a debit card with a Citizens money market account?

Yes, Citizens money market accounts usually allow check writing and debit card access, but transactions are limited to no more than 6 per statement period. Exceeding the limits may lead to account changes.

What does APY mean for a money market account?

APY (Annual Percentage Yield) shows the true annual return you’ll earn, including the effect of compounding. Click here for more information on Annual Percentage Yield.

What is a money market account?

A money market account is a variable APY account that's similar to a savings account. It may earn a higher interest rate compared to a savings account for customers who do not need frequent access to their funds.

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

What is compound interest?

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

Are there any transaction limits on a money market account?

We offer unlimited deposits and in-branch and ATM transactions. We limit certain types of transactions to no more than 6 per statement period, including telephone transfers, online transfers, automatic interest transfers, preauthorized or automatic debits, preauthorized transfers, outgoing wire transfers and checks, debit card transactions or similar orders to a third party from the money market. If you exceed these limits 3 times or more during any consecutive 12-statement period, we will, as applicable, transfer the funds in your money market account to a checking account that does not pay interest. We may, however, transfer your funds sooner if you significantly exceed these transfer limits in any one statement period. Please refer to the Fees and Features Guide for additional information. Please note that withdrawals and transfers made at our branches or ATMs do not count against these limits.

This content is based on your location ofThis product is not available in your current location

Personal Money Market Account

Save for what's important and get the benefits of FDIC insurance.^†

Open Your Account

This product is not available in your current location

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

Safety and security

Bank securely with 24/7 fraud monitoring and FDIC insurance.^†

Personalized guidance

Learn more details from one of our bankers. Schedule an appointment.

Waive monthly maintenance fee

Maintain a minimum daily balance of $2,500 to waive the $10 monthly maintenance fee.^†

Balance	Annual Percentage Yield (APY)
$0 - $2,499	#ProductLine=ODS\|Brand=citizensbank\|Product=Money Markets\|ProductName=Personal Money Market\|Code=MM-003-DF\|ProductLevelCode=NOR\|PromoExpiryDt=PExD\|ProductAttribute=RatesTier\|APY=LowTier(0.00)#%
$2,500 - $9,999	#ProductLine=ODS\|Brand=citizensbank\|Product=Money Markets\|ProductName=Personal Money Market\|Code=MM-003-DF\|ProductLevelCode=NOR\|PromoExpiryDt=PExD\|ProductAttribute=RatesTier\|APY=LowTier(2500.00)#%
$10,000 - $24,999	#ProductLine=ODS\|Brand=citizensbank\|Product=Money Markets\|ProductName=Personal Money Market\|Code=MM-003-DF\|ProductLevelCode=NOR\|PromoExpiryDt=PExD\|ProductAttribute=RatesTier\|APY=LowTier(10000.00)#%
$25,000 - $49,999	#ProductLine=ODS\|Brand=citizensbank\|Product=Money Markets\|ProductName=Personal Money Market\|Code=MM-003-DF\|ProductLevelCode=NOR\|PromoExpiryDt=PExD\|ProductAttribute=RatesTier\|APY=LowTier(25000.00)#%
$50,000 - $74,999	#ProductLine=ODS\|Brand=citizensbank\|Product=Money Markets\|ProductName=Personal Money Market\|Code=MM-003-DF\|ProductLevelCode=NOR\|PromoExpiryDt=PExD\|ProductAttribute=RatesTier\|APY=LowTier(50000.00)#%
$75,000 - $249,999	#ProductLine=ODS\|Brand=citizensbank\|Product=Money Markets\|ProductName=Personal Money Market\|Code=MM-003-DF\|ProductLevelCode=NOR\|PromoExpiryDt=PExD\|ProductAttribute=RatesTier\|APY=LowTier(75000.00)#%
$250,000 - $999,999	#ProductLine=ODS\|Brand=citizensbank\|Product=Money Markets\|ProductName=Personal Money Market\|Code=MM-003-DF\|ProductLevelCode=NOR\|PromoExpiryDt=PExD\|ProductAttribute=RatesTier\|APY=LowTier(250000.00)#%
$1,000,000 - $2,999,999	#ProductLine=ODS\|Brand=citizensbank\|Product=Money Markets\|ProductName=Personal Money Market\|Code=MM-003-DF\|ProductLevelCode=NOR\|PromoExpiryDt=PExD\|ProductAttribute=RatesTier\|APY=LowTier(1000000.00)#%
$3,000,000+	#ProductLine=ODS\|Brand=citizensbank\|Product=Money Markets\|ProductName=Personal Money Market\|Code=MM-003-DF\|ProductLevelCode=NOR\|PromoExpiryDt=PExD\|ProductAttribute=RatesTier\|APY=LowTier(3000000.00)#%

Ready to open a Personal Money Market account?

Open your account today

^† For additional information, please click the ^† symbols throughout this page to view our savings and deposits disclosures.

All accounts disclosure: All accounts and services are subject to individual approval.

¹Personal Money Market Account Rate Disclosure: Rates accurate as of #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=currentDate# and subject to change before or after account opening. (#Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=Region Label#). Rates apply to new accounts and may not apply to existing accounts. The variable Annual Percentage Yield (APY) is subject to increase or decrease daily after account opening without notice. Rates are not tied to an index and are subject to change at the bank’s discretion. Other fees may apply. Fees may reduce earnings.

Personal Money Market Account

This product is not available in your current location

Features and benefits

Safety and security

Personalized guidance

Waive monthly maintenance fee

Personal Money Market Interest Rates¹

Ready to open a Personal Money Market account?

Personal Money Market Account

This product is not available in your current location

Features and benefits

Safety and security

Personalized guidance

Waive monthly maintenance fee

Personal Money Market Interest Rates1

Ready to open a Personal Money Market account?

Personal Money Market Interest Rates¹