Citizens Access CDs offer competitive interest rates. The rates are much higher than typical bank rates. Each of the CD terms offers interest rates competitive with other online CDs. The interest rates are not tiered. Any balance above $5,000 earns the most competitive interest rate offered.

Each Citizens Access CD comes with the CD Pledge Rate guarantee. Once you fund your CD, Citizens Access watches interest rates for ten days. The Rate Pledge guarantees you lock in the highest interest rate during that time. Once you lock in the highest interest rate, the rate stays the same for the entire term.

Citizens Access offers a good variety of CD terms. Those terms range from a six-month term to a five-year term. In all, Citizens Access offers seven CD term lengths.

Citizens Access encourages CD laddering. This means dividing up your investment between different term CDs. Dividing up your money can earn more interest. You can invest your money into short-term or long-term CDs. The Citizens Access website offers tools to help you understand CD laddering better.

The Citizens Access CDs have high opening required amounts. Each of the CD terms require $5,000 to open. The savings account also requires $5,000 to open.

There are limited ways to open and fund Citizens Access CDs. You cannot deposit cash or make a wire transfer into the CD. You can link an external bank account or deposit a check to fund the account. Make changes to the account during the 10-day grace period or once the CD reaches maturity.

To set up a maturity plan for your Citizens Access CD you need to call customer service. They can help you figure out what happens to your CD once it reaches maturity. Customer service has set hours they are available. Find the hours listed below.

Citizens Access offers two ways for customers to receive the interest earned on their CDs. You can choose to have the money added to the CD principal or transfer the money to another account. Those are the only two options for how to receive the interest earned.

Read the full Citizens Access review.

Union Bank offers a variety of CD terms. The terms range from 91-days to 60-months. They provide standard CDs as well as agricultural CDs. These are for the farmers of Michigan who have their business accounts with Union Bank.

The Union Bank CDs offer interest rates that are competitive with other online CDs. They offer a special 15-month and a 36-month terms. These terms earn more competitive interest rates. These two CDs are promotional. The other CDs are not promotional and earn competitive rates.

The initial required amount to open standard Union Bank CDs is low. Each of the CD terms only requires $500 to open. The interest rates are not tiered. Any balance over $500 earns competitive interest rates.

You can choose how to receive the interest you earn off Union Bank CDs. You can have the interest added to the CD balance. You can have the money mailed to you in the form of a check. You can also have the interest deposited into another checking or savings account.

Union Bank CDs cannot be opened entirely online. You fill out the initial application online. Once the bank reviews your information, they will contact you. You then set up a time to go into a branch location to finish the account opening process. When you visit the branch, you will pay the initial opening amount.

Union Bank CDs do not offer an interest rate guarantee. If the rates increase shortly after you open a CD, you will not receive the higher rates. Union Bank CD rates are competitive with other online CDs.

The only deposit you can make into Union Bank CDs is the initial deposit when you open the CD. After that, you must wait until the CD reaches maturity to add money to the account. The CD will automatically renew unless you contact customer service to make changes.

The only personal CDs Union Bank offers are standard CD terms. They do not offer IRA, educational, no-penalty, or add on CDs. The standard CD terms range from 91-days to 60-months.

Read the full Union Bank review.