Compound Interest Calculator
CD 5-year Account from Citizens with 3.45% APY and $5,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 5-year Account from Citizens with 3.45% APY and $5,000 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $28,076. The interest earned would be $8,076 and the tax amount on the interest earned would be approximately $2,423.

Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Citizens

Savings Boost of
$4,318 over 10 years
Cash Savings $20,000
Average Interest Earned $1,335

 
Citizens Interest Earned $5,653

 

 

See comparison detail table

This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.

Comparison Detail Table Close X

Average Rate Scenario

Rate:
0.92%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 183 128
2 20,183 185 129
3 20,368 186 130
4 20,554 188 132
5 20,742 190 133
6 20,932 192 134
7 21,123 193 135
8 21,317 195 137
9 21,512 197 138
10 21,709 199 139
TOTAL: $1,907 $1,335

Citizens Scenario

Rate:
3.45%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 690 483
2 20,690 714 500
3 21,404 738 517
4 22,142 764 535
5 22,906 790 553
6 23,696 818 572
7 24,514 846 592
8 25,360 875 612
9 26,235 905 634
10 27,140 936 655
TOTAL: $8,076 $5,653

Take Action

The accounts below offer some of the best rates in the country can be opened online, and are available nationally. As the calculator shows, changing accounts to earn a higher interest rate can really add up over time.



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Customer Reviews for Citizens (38)


  • November 18, 2023 |

    Online Savings Rates

    bad bank hold your deposit over months without credit in your account, no interest, they don’t want pay you interest , they want your money with 0% interest.

  • October 18, 2023 |

    Online CDs 12 Month Rates

    Citizens is just a great CSR experience in every way imaginable (user interface, phone support, etc.) compared to any of these other places on this list. Also, a recognized and positive brand (at least throughout the northeast). I just renewed a 1-year CD with them and highly recommend. (Four 1/2 stars because I wish the rates were further towards to top of this table).

  • January 18, 2023 |

    Online Savings Rates

    The website is constantly down. I'll move all my accounts to a less recognized name with a better rate as that gives me fewer surprises like this.

  • September 1, 2022 |

    updated review - The bank managed to finally provide the requested document listing the beneficiary after a number of calls. So will add a few stars. The website still needs some work to be more descriptive of the transfer information. It is pretty useless as all it has is generic info with no bank information listed under the source of the transfer. Pretty mediocre for a bank listed as having over 160 billion in assets.

  • September 1, 2022 |

    I'm only comfortable with banks whose names I recognize and among those 4 or 5 I have found Citizens consistently has the best rate in 2022. Also outstanding service. I will stick with this one over anything else on this site.


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