Business CDs Terms
If you have excess cash you don't need to access for three months or more, you can earn safe, guaranteed returns when you open a business CD. Our business CDs have no monthly maintenance fee and earn a fixed interest rate on your money. We offer a variety of terms to fit your business needs.
Minimum balance to open:
$1,000*
Monthly maintenance fee:
$0
| Term | APY (Annual Percentage Yield) | Minimum Deposit |
|---|---|---|
| 3 month | 0.03% | $1,000 |
| 6 month | 0.03% | $1,000 |
| 9 month | 0.03% | $1,000 |
| 12 month | 0.10% | $1,000 |
| 15 month | 0.03% | $1,000 |
| 18 month | 0.03% | $1,000 |
Business CD Features and Benefits
Business CD Frequently Asked Questions
The minimum opening deposit for a Business Certificate of Deposit is $1000*.
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.
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
Penalty for Early Withdrawal
Original maturity of less than one year:
$50 transaction penalty plus the greater of 90 calendar days' interest on the amount withdrawn or half the remaining interest to be earned on the withdrawn amount.
Original maturity of one year or more:
$50 transaction penalty plus the greater of 180 calendar days' interest on the withdrawn amount or half the remaining interest to be earned on the withdrawn amount. You can withdraw interest credited to your CD account before the maturity of the term of your CD without bank penalty.
Download detailed account documents
Review what is needed to open an account
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Please note: Citizens Business Banking Products and Services are offered in the following states: Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia and Washington, D.C.
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Rates accurate as of #Json=Label_Lookup|Brand=citizensbank|TargetElementType=span|TargetElementId=|Key=currentDate# and subject to change before or after account opening. Rates apply to new accounts and may not apply to existing accounts.
Maximum deposit of $1,000,000 per customer.
CD rates listed require a Business Advisor Checking, Citizens Analysis Business Checking, or Commercial Checking account.
* $5,000 if monthly interest disbursement by check or transfer is required.