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Financial Rates:
3.0
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Customer Service:
5.0
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Variety of Terms:
5.0
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Opening Required Amount:
5.0
Pros:
- Low opening required amounts
- Good variety of CD terms
- Can open CD terms online
- Account statements are electronic
Cons:
- 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.
History
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
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.
There are ten standard CD terms and ten jumbo CD terms. The terms range from seven days to five years.
The standard CDs require $500 to open. The jumbo CDs require $100,000.
Through electronic transfers. By visiting a branch location, you can deposit cash or checks.
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.
No. You can open a Citizens Trust Bank CD without opening any other accounts.
The rates are not competitive with other online CDs of the same term length. These rates are much lower.
Specific ways to receive interest are not listed on the website.
Contact customer service for more information.
Contact customer service.
Contact customer service.
The grace period is typically ten days after the CD reaches maturity.
Yes. The standard and jumbo CDs offer fixed rates. Citizens Trust Bank guarantees the rates for the life of the CD term.
Yes. With the mobile app, you can see account balances and transactions. You can deposit checks, pay bills, and set up account alerts.
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.
Their security measures comply with federal laws. Their computers have safeguards in place. Their buildings and files are secure.
The shortest term is seven days.
The longest term is a 60-month CD.
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.
Yes. Citizens Trust Bank offers business savings, checking, and money market accounts. They offer cash management options, credit cards, and lending options.
By phone, email, mail, or by visiting a local branch location.
Bank Contact Information
ctbconnect.com678-406-40007
www.ctbconnect.com.com
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