The Citizens Bank pays a competitive rate of interest compounded quarterly.
A minimum deposit of $50 is all that is required to open your account. There is no charge for withdrawals up to 3 per calendar quarter; however a $1.00 charge will be made on each additional withdrawal. There will be a $2.00 charge if the minimum balance falls below $50.00 on any day of the calendar quarter.
Limitations on frequency of transfers - During any calendar month, you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, or by check, draft, debit card or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the financial institution
Our Christmas Club requires no minimum opening deposit. Deposits may be made for any dollar amount at any time. Inerest will be credited into this account annually on the November 14th. All checks will be distributed by the end of November. Any account closed before this date will receive no interest.
Certificates of Deposit*
Certificates of Deposit are designed for a predetermined time and amount. The Citizens Bank CD's are available in maturities from 31 days to three years, with a required minimum deposit of $1000. Interest is based on the current market rate and is set for the term of the CD at the time of purchase. A penalty may be assessed for early withdrawal.
Individual Retirement Accounts*
Your future is secure with The Citizens Bank individual retirement account. If you qualify, it is possible to defer income tax on a portion of your income by opening an IRA account. Withdrawals may begin at age 591/2 and must begin by age 701/2. Substantial penalties as prescribed by law may be charged for early withdrawals from your IRA account.
* The Citizens Bank interest rates vary and are set periodically according to market conditions and are calculated on daily balances. See full disclosure for details regarding crediting, compounding and other specific account details.