Loading
Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

Citizens Bank and Trust Company Review

Your Details Done
by Updated
Citizens Bank and Trust Company Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Citizens Bank and Trust Company started in 1873 and its headquarters are located in Blackstone, Virginia. Citizens Bank and Trust Company owns assets of $374 million and deposits totaling $315 million, classifying it as a small bank. Citizens Bank and Trust Company lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. At a SmartAsset rating of 3.4 stars out of 5, Citizens Bank and Trust Company should be more closely inspected to see if its services match your needs. Citizens Bank and Trust Company offers the complete slate of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Citizens Bank and Trust Company has a fair savings rate; other popular banks have higher rates. Institutions that offer free checking and a high savings APY are your best option for gaining the highest income from your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.4/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.1
SmartAsset Average: 3.5

Citizens Bank and Trust Company features a savings rate of 0.20%, which is poor compared to other U.S. banks. Citizens Bank and Trust Company's one-year CD has a rate of 0.25% and the five-year CD has a rate of 1.30%, while its highest-yielding money market account has a rate of 0.25%. Given its noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How Citizens Bank and Trust Company's Savings Rates Compare

Citizens Bank and Trust Company Savings 0.20 National Average 0.26 Compare Offers
Back to Overview

Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Citizens Bank and Trust Company's fees to provide a full SmartAsset rating.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
Back to Overview

Service Quality

2.5
SmartAsset Average: 3.7

Citizens Bank and Trust Company is a brick-and-mortar bank, with 11 total branches in Virginia. With a mobile app, Citizens Bank and Trust Company provides convenient mobile banking, even from home or work. Citizens Bank and Trust Company gets an outstanding consumer satisfaction score based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating NR
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.5
SmartAsset Average: 4.8

Citizens Bank and Trust Company is currently a small bank owning assets totaling $374 million and $315 million in deposits. Citizens Bank and Trust Company's Texas Ratio is 10.59%, indicating that the bank is in fine financial health and far from failure. Additionally, Citizens Bank and Trust Company is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

10.59%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

Back to Overview

Compare Citizens Bank and Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.35% APY
  • 36 Month: 0.65% APY
  • 48 Month: 0.75% APY
  • 60 Month: 1.30% APY
$1000 for all terms
Money Market Account 0.2% APY $10000

Citizens Bank and Trust Company has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Citizens Bank and Trust Company does not have the best savings rate, which means you should consider other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Citizens Bank and Trust Company's CD rates are fair in comparison to the average U.S. bank.

Back to Overview

Find a Citizens Bank and Trust Company Near Me

Citizens Bank and Trust Company has 11 branches across the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure