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Citizens Trust Bank CD Review

How does your bank stack up?

  • Financial Rates: 3.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Variety of Terms: 5.0 Star Icon
  • Opening Required Amount: 5.0 Star Icon


  • Low opening required amounts
  • Good variety of CD terms
  • Can open CD terms online
  • Account statements are electronic


  • Low interest rates on CDs
  • Jumbo CDs do not earn higher rates
  • Short-term rates are much lower
  • Customer service has limited hours

What You Need to Know

The initial amount required to open standard Citizens Trust Bank CDs is low. All the standard CDs only require $500 to open. The jumbo CDs require $100,000 to open.

Citizens Trust Bank offers a variety of CD terms. The terms range from seven days to 60-months. There is a total of ten standard CD terms offered. The jumbo CDs also offer the same ten CD terms.

The CD terms offered through Citizens Trust Bank can be opened online. The application is online and completed entirely online.

The statements for Citizens Trust Bank accounts are free. To receive the free statements, signup to receive them electronically. If you wish to receive a statement in the mail, there is a fee of $5 per statement cycle.

The interest rates for Citizens Trust Bank are not competitive with other online CDs. These CD rates are competitive with typical bank rates. The interest rates are not tiered. Any amount over $500 earns the highest rate offered for Citizens Trust Bank CDs.

The jumbo Citizens Trust Bank CDs do not offer any higher interest rates. To open a jumbo CD requires $100,000. These rates are not competitive with other jumbo online CDs. The jumbo rates are not higher than the Citizens Trust Bank standard CD rates.

The short-term CDs hardly earn interest. The seven-day to 31-day terms, 90-day term, and six-month term earn very low interest. These term rates are similar to typical bank savings accounts. Online CDs earn much higher interest.

There are specific hours Citizens Trust Bank operates. Customer service is open Monday through Friday from 8:30 a.m. to 6 p.m. ET. You can call or email customer service. Citizens Trust Bank does offer some branch locations.

Cool Things

Citizens Trust Bank Blog

Their website a blog where you can read financial articles. You can read about surviving bankruptcy or how to stop living paycheck to paycheck. You can learn about credit and how to pay off debts.


Citizens Trust Bank started in 1921 on Sweet Auburn Avenue, Georgia. Heman E. Perry started Citizens Trust Bank to primarily serve African American’s. He worked to help African American’s be successful. The bank was fundamental in the housing growth for African American’s in Georgia.

Citizens Trust Bank was the first African American owned bank to become a member of the Federal Reserve Bank. They serve communities in Alabama and Georgia. In 2018, the bank had a historical growth of 32 percent.

Giving Back

Citizens Trust Bank helps the community through its Financial independence Training program. This program helps youth learn how to be financially successful. In 2018, they helped over 7,700 students through this program.

Frequently Asked Questions

Is Citizens Trust Bank FDIC insured?

Yes. Citizens Trust Bank is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.

How many different terms does Citizens Trust Bank offer?

There are ten standard CD terms and ten jumbo CD terms. The terms range from seven days to five years.

What is the required amount to open a CD with Citizens Trust Bank?

The standard CDs require $500 to open. The jumbo CDs require $100,000.

How do I deposit money into Citizens Trust Bank CDs?

Through electronic transfers. By visiting a branch location, you can deposit cash or checks.

How do I access my money?

Contact customer service to see the best way to access your money. To avoid a fee, do not withdraw money before the CD reaches maturity.

Do I have to open other Citizens Trust Bank accounts before I can open a CD?

No. You can open a Citizens Trust Bank CD without opening any other accounts.

Do Citizens Trust Bank CDs offer competitive interest rates?

The rates are not competitive with other online CDs of the same term length. These rates are much lower.

Can I choose how to receive my interest payments from Citizens Trust Bank CDs?

Specific ways to receive interest are not listed on the website.

What percentage am I charged if I withdraw money before the maturity date?

Contact customer service for more information.

How do I make changes during the grace period?

Contact customer service.

How will I know my Citizens Trust Bank CD is nearing maturity?

Contact customer service.

How long is the grace period between renewal?

The grace period is typically ten days after the CD reaches maturity.

Are Citizens Trust Bank CD rates guaranteed for the entire term?

Yes. The standard and jumbo CDs offer fixed rates. Citizens Trust Bank guarantees the rates for the life of the CD term.

Does Citizens Trust Bank offer mobile banking?

Yes. With the mobile app, you can see account balances and transactions. You can deposit checks, pay bills, and set up account alerts.

Is Citizens Trust Bank a good bank?

The opening required amounts for Citizens Trust CDs are low. They have a variety of CDs, and you can open any term online. The interest rates for the CDs are low. They are not competitive with other online CDs.

Is Citizens Trust Bank secure online?

Their security measures comply with federal laws. Their computers have safeguards in place. Their buildings and files are secure.

What is the shortest Citizens Trust Bank CD term offered?

The shortest term is seven days.

What is the longest Citizens Trust Bank CD term offered?

The longest term is a 60-month CD.

Does Citizens Trust Bank offer accounts other than CDs?

Yes. Citizens Trust Bank offers personal and business accounts. Those accounts include savings, checking, and money market accounts. They offer personal and business credit cards and lending options.

Can I use Citizens Trust Bank CDs for my business accounts?

Yes. Citizens Trust Bank offers business savings, checking, and money market accounts. They offer cash management options, credit cards, and lending options.

How do I reach customer service?

By phone, email, mail, or by visiting a local branch location.

Bank Contact Information

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