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The Citizens Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
The Citizens Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1953, The Citizens Bank has assets totaling $774 million as well as $659 million in deposits, classifying the institution as a medium-size bank. The Citizens Bank, whose headquarters are in Batesville, Arkansas, 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 apps. At a SmartAsset rating of 4.2 out of 5 stars, The Citizens Bank should be solidly in contention for your choice of bank. The Citizens Bank provides customers with multiple banking products, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, The Citizens Bank's most basic checking account does not have a monthly fee. Banks that offer free checking as well as a high interest rate savings account are your best bet for getting the most income on your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

With a savings rate of 0.10%, The Citizens Bank ranks poorly compared to the average U.S. bank. Its one-year CD earns at a rate of 0.25% and the five-year CD has a rate of 1.10%, while its highest-yielding money market account has a rate of 0.15%. Given The Citizens Bank's poor savings rate, you should consider other options to earn more on your deposits.

How The Citizens Bank's Savings Rates Compare

The Citizens Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, The Citizens Bank charges customers extremely low fees compared to other U.S. banks. The Citizens Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. The Citizens Bank refunds any incurred out-of-network ATM charges, making ATM withdrawals a free and simple process.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.1
SmartAsset Average: 3.7

The Citizens Bank is a brick-and-mortar bank, with 19 total bank locations in Arkansas. With mobile and web apps, The Citizens Bank makes account access convenient, even on the go. The Citizens Bank gets fairly high marks from users for its online presence. With 45 customer reviews across iOS and Android platforms, the The Citizens Bank mobile app is scored at 4.2 out of 5 (compared to the national average of 3.8). The Citizens Bank's mobile app lets you manage your finances by looking at account balances, sending and receiving funds as well as reaching customer service. The Citizens Bank receives a superb consumer satisfaction rating based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

The Citizens Bank is currently a medium-size bank and has assets totaling $774 million as well as $659 million in deposits. The Citizens Bank has an excellent Texas Ratio of 3.80%, suggesting that The Citizens Bank is in superb financial condition and far from failure. Additionally, The Citizens Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.8%
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.

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Compare The Citizens Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $50
Checking Account 0.1% APY $2500
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.45% APY
  • 36 Month: 0.65% APY
  • 48 Month: 0.90% APY
  • 60 Month: 1.10% APY
$500 for all terms
Money Market Accounts 0.15% APY 0.15% APY $10000 $15000

The Citizens Bank has several deposit products including savings accounts, checking accounts and CDs to give you many options to manage your money. The Citizens Bank does not have the best savings rate, which means you should consider looking elsewhere 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. The Citizens Bank's CD rates are fair compared to other U.S. banks.

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Find a The Citizens Bank Near Me

The Citizens Bank has 19 physical locations across the U.S.

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