Savings accounts are a great solution for customers with a specific need or goal even if they also have a Money Market or CD. They allow customers to designate funds in individual accounts for a specific goal separate from their checking account. Common goals include; an emergency fund for unexpected expenses, vacation savings, holiday savings, home improvements, taxes, and saving for a new car among others.
Annual Percentage Yield (APY) expresses an annual rate of return taking into account the effect of compounding.
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.
Citizens does not limit transactions, including withdrawals, on savings accounts.
You may open a Citizens savings account with any amount. Take advantage of all the seamless tools and benefits to help maintain your financial goals and balances.
Monitor and access your account anytime, anywhere with Citizens Mobile and Online Banking.
Yes. You can have more than one Citizens savings and/or money market account.
Savings accounts are a great solution for customers with a specific need or goal even if they also have a Money Market or CD. They allow customers to designate funds in individual accounts for a specific goal separate from their checking account. Common goals include; an emergency fund for unexpected expenses, vacation savings, holiday savings, home improvements, taxes, and saving for a new car among others.
CDs are similar to savings accounts, but they are set to a fixed term (usually ranging from three months to five 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 It is expected that a CD be held to the end of the term, at which time the money may be withdrawn with the accrued interest.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 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.
A debit card (also known as a bank card or check card) is an alternative payment method to cash when making purchases. Similar to using cash, funds are immediately withdrawn from your account.
Annual Percentage Yield (APY) expresses an annual rate of return taking into account the effect of compounding.
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.
Citizens does not limit transactions, including withdrawals, on savings accounts.
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