Citizens Bank High Yield Savings
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Citizens has an online savings account with a competitive APY and no fees. But what's the catch? Continue reading to find out.
Overall Score | 4.4 | ||
Savings | 4.5 | ||
Fees | 5.0 | ||
Mobile App | 4.0 | ||
Customer Service | 4.0 | ||
Pros and Cons
- High APY
- No monthly fees
- No physical branches
- No cash deposits
Bottom Line
Online savings account with an impressive rate and no fees
Citizens Bank offers a variety of banking products. That includes a high-yield savings account called Citizens Access® Savings through its online-only division, Citizens.
But, it has a catch—it's an online-only savings account. Access to your money may not be as convenient as you'd like.
Read on to learn more about Citizens' high-yield online savings account.
Does Citizens Bank Have High-Yield Savings?
Yes, Citizens Bank offers a high-yield savings account through Citizens—an online-only bank that allows you to earn a competitive rate with minimal fees.
Citizens Bank High Yield Online Savings - 3.50% APY
- No opening fee
- No service fee
- $0.01 minimum opening deposit
What Is Citizens Access® Savings?
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Citizens Access® Savings is an online high-yield savings account by Citizens[1]. It boasts an impressive 3.50% APY with no fees, hidden costs, or balance requirements.
With this APY, you can earn higher than the national average savings rate of 0.38% APY (as of August 2025), speeding up your savings journey. All you need is a minimum opening deposit of $0.01 to get you started.[2]
Citizens Bank High Yield Online Savings - 3.50% APY
How Much Can You Earn?
Here's a calculator you can use to see how much your money can grow with Citizens Access® Savings.
Fees to Look Out For
With a Citizens Access® Savings account, you don't ever have to worry about any hidden costs. It has zero fees so you can expect:[3]
- No account opening fees
- No maintenance fees
- No service fees
But it does have a very minimal minimum opening deposit of $0.01. No fees give you more control over your funds, allowing you to save easier and faster.
Pros and Cons
Pros
- Competitive rate
- Low opening deposit
- No monthly charges
- Top-rate mobile app
- FDIC-insured
Cons
- No physical branches
- No ATM card
- No cash deposits
How Citizens High Yield Savings Compares
High-Yield Savings Account - 4.31% APY
- $1 minimum deposit
- No fees
- 24/7 online access to funds
- FDIC insured
CIT Bank Platinum Savings - 4.00% APY
- 4.00% APY with a balance of $5,000 or more
- 0.25% APY with a balance of less than $5,000
- $100 minimum opening deposit
- No monthly maintenance fee
- Member FDIC
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. See advertiser website for full details.
UFB Portfolio Savings - Earn up to 4.01% APY
- Earn up to 4.01% APY.*
- No monthly maintenance fees.
- No minimum deposit required to open an account.
- Access your funds 24/7 with easy-to-use digital banking tools.
- Enjoy peace of mind with FDIC insurance up to the maximum allowance limit – Certificate #35546.
High-Yield Savings Premier - 4.30% APY
- No account fees
- Option to open individual or joint account
- FDIC insured up to $250,000 per depositor
- Only $500 minimum opening deposit
How to Open an Account
If you want to open an account, you can do so through the official website of Citizens. Here are the steps:
- Go to the Citizens Access® Savings page and select Open an Account.
- Answer the online application form.
- Submit and fund your account.
To open a Citizens Access Savings account, you must be a US citizen or a resident alien who is at least 18 years old.
How to Fund Your Account
There are several ways you can fund your account, you can do any of the following:
- Online bank transfer by linking your external account to Citizens Access®
- Mail a check to Citizens Access®, PO Box 6801, Carol Stream, IL 60197-6801
- Mobile check deposit via Citizens Access® mobile app
- Set up direct deposits
Since Citizens is purely online, there are only a few ways for you to access your funds:
- Transfer money from your Citizens Access Savings account to a linked external account
- Request a check via mail
Is Citizens Bank High Yield Savings Safe?
Yes because Citizens Savings Accounts are FDIC-insured. This means deposits are protected up to the maximum amount allowed by law. So, in the event of bank closure, you are guaranteed to get your money back.
Who Is It Best For?
Citizens Access® Savings is best for those who want to focus on building their wealth. You can make your money work harder through competitive rates and minimal fees.
But, if you prefer using ATMs or going to a physical bank, this might not be the best choice.
Ultimately, this savings account was designed to help you reach your savings goals, not to replace your everyday spending account.
Bottom Line
Citizens online high-yield savings account is a great choice for those who have financial goals they want to meet and don't mind a digital-only experience.
However, if you want your funds within physical reach, you can check out other savings accounts with ATM access or branches.
References
- ^ Citizens. High-yield online savings account, Retrieved 12/27/2023
- ^ Citizens. FAQS: Is there a minimum deposit needed to open a Citizens Access® Savings account?, Retrieved 12/27/2023
- ^ Citizens. FAQS: No fees? Really?, Retrieved 12/27/2023
Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer
- The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new eligible business checking customers only.
- Offer expires 12/31/2025.
- To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
- Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or
Merrill investment accounts.
- ** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
- Bank of America, N.A. Member FDIC
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- Chase Mobile® app - Manage accounts, pay bills, send money to friends with Zelle® and deposit checks from almost anywhere.
- Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
- Help keep your money protected with features like Zero Liability Protection, fraud monitoring and card lock.
- Chase Total Checking includes FDIC insurance up to the maximum amount allowed by law.
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
Wells Fargo Everyday Checking Account - $325 Bonus
- Get a $325 new checking customer bonus when you open an Everyday Checking account and receive $1,000 or more in qualifying direct deposits.
- Wells Fargo Bank, N.A.
Member FDIC
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. See advertiser website for full details.
Darlene Santos is a research analyst at CreditDonkey, a bank comparison and reviews website. Write to Darlene Santos at darlene.santos@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
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