Citizens Bank Minnesota savings and CD rates
Citizens Bank Minnesota's WooHoo! Savings advertises 2.02% APY on balances of $100,000 or more, and 0.75% to 1.51% below that. On a $10,000 balance the account earns 0.75% overall, about $75 in a year, which is 0.38 percentage points above the national savings average of 0.37% (FDIC, Sep 2026).
Ranked #462 of 2929 tracked savings rates by advertised APY. For a $10,000 balance it would rank #668.
Estimate your earnings·What Citizens Bank Minnesota actually pays
Citizens Bank Minnesota at a glance
| Savings | |
|---|---|
| Top savings APY | Up to 2.02% · WooHoo! Savings · needs at least $100,000 |
| Minimum to open | $5,000 · WooHoo! Savings |
| Against the national average | 1.65 percentage points above the 0.37% FDIC savings average (Sep 2026) |
| CDs | |
| Top CD APY | 3.75% · 21 months · 21 Month Special CD |
| Minimum to open | $2,500 · 21 months CD |
| FDIC certificate | 8200 · New Ulm, MN |
|---|---|
| Website | www.citizensmn.bank |
| Branches | 6 branches in MN |
| Availability | Available in MN |
Citizens Bank Minnesota savings and CD rates
Personal
How the rate applies
How the rate applies
How the rate applies
IRA
Business
How the rate applies
Rates are APY. The national savings average is 0.37% (FDIC, Sep 2026). The top tracked savings rate on Banksparency is 12.00%. Across 60 savings accounts from 59 banks in the Banksparency core savings index, the median advertised rate is 3.65%, and one account in ten advertises 4.20% or more. See the highest savings rates.
Citizens Bank Minnesota CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| Personal CDs | |||
| 6 months | 2.02% | $500 | 6 Month CD |
| 11 months | 3.55% | $2,500 | 11 Month Special CD |
| 12 months | 2.78% | $500 | 12 Month CD |
| 21 months | 3.75% | $2,500 | 21 Month Special CD |
| 24 months | 3.03% | $500 | 24 Month CD |
| 36 months | 3.24% | $500 | 36 Month CD |
| 48 months | 3.34% | $500 | 48 Month CD |
| 60 months | 3.44% | $500 | 60 Month CD |
| IRA CDs | |||
| 60 months | 3.44% | $500 | 60 Month Special IRA CD |
Interactive Tool
Calculate Savings for Citizens Bank Minnesota
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$469.50(3.2%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$14,469.50
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What Citizens Bank Minnesota pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined. The 2.02% needs a balance of at least $100,000. Below that, the account advertises 0.75%.
In Q2 2026, Citizens Bank Minnesota paid a higher average rate on savings and money market deposits than 34% of banks that reported a figure (3,938 banks; FDIC call report). The all-bank median was 1.45%.
- Citizens Bank Minnesota, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the 3,938 banks that reported a figure for the quarter ending June 30, 2026.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| Personal | ||||||||
| WooHoo! U | Up to 3.04% | $50 | $0 | $4,999.99 | not stated | Direct deposit · linked account not stated | Tiered | |
| Fine print: Ages 0 to 17, one per Social Security number. Converts to Regular Savings at 18. Bonus rate on the first $4,999.99, only in cycles with a direct deposit or auto transfer, e-Statements, no withdrawals. | ||||||||
| WooHoo! Savings | Up to 2.02% | $5,000 | $0 | None | not stated | not stated | Tiered | |
| Fine print: $5,000 is required to open the account, and a $10 monthly processing fee applies in any statement cycle in which the average ledger balance falls below $5,000. The lowest rate tier starts at one cent. | ||||||||
| Health Savings Account | 0.75% | not stated | $0 | None | not stated | not stated | One rate | |
| Regular Savings | Up to 0.35% | $50 | $50 | None | not stated | not stated | Tiered | |
| Fine print: A $5 monthly processing fee applies in any statement cycle in which the average ledger balance falls below $50. The fee does not apply to account holders under 18 years of age. No interest is earned on any day the daily collected balance falls below $50. | ||||||||
| Business | ||||||||
| Business Savings | Up to 0.75% | $0 | $500 | None | not stated | not stated | Tiered | |
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| Personal CDs | |||||
| 6 Month CD | 6 months | 2.02% | $500 | not stated | not stated |
| 11 Month Special CD | 11 months | 3.55% | $2,500 | not stated | not stated |
| 12 Month CD | 12 months | 2.78% | $500 | not stated | not stated |
| 21 Month Special CD | 21 months | 3.75% | $2,500 | not stated | not stated |
| 24 Month CD | 24 months | 3.03% | $500 | not stated | not stated |
| 36 Month CD | 36 months | 3.24% | $500 | not stated | not stated |
| 48 Month CD | 48 months | 3.34% | $500 | not stated | not stated |
| 60 Month CD | 60 months | 3.44% | $500 | not stated | not stated |
| IRA CDs | |||||
| 60 Month Special IRA CD | 60 months | 3.44% | $500 | not stated | not stated |
Opening and using the account
| Availability | Available in MN |
|---|---|
| Footprint | 6 branches in MN |
| Eligibility | not stated |
How Citizens Bank Minnesota behaves over time
Every observation of the advertised WooHoo! Savings rate in the last 12 months was 2.02% (observed through Oct 14, 2026). The series includes promotional tiers where one applied.
Recent rate changes, as observed
- Obs. Oct 2, 202621 Month Special CDRaise:3.24%to3.75%
- Obs. Oct 2, 20266 Month CDRaise:1.25%to2.02%
- Obs. Sep 30, 202611 Month Special CDRaise:3.44%to3.55%
- Obs. Sep 30, 202612 Month CDRaise:2.52%to2.78%
- Obs. Sep 30, 202624 Month CDRaise:2.83%to3.03%
- 21 months CD
- Up 0.51 percentage points from 30 days ago.
$10,000 in Citizens Bank Minnesota's WooHoo! Savings earns 0.75% overall at the advertised rates, so it grows to $10,075 in a year. Prices rose 3.4% in the year to August 2026 (Consumer Price Index (CPI)). After a year of prices rising at that pace, it buys as much as $9,744 does today. See how the federal funds rate shapes savings rates.
Citizens Bank Minnesota CD rates over time
Who is Citizens Bank Minnesota?
| Headquarters | New Ulm, MN |
|---|---|
| Founded | 1875 |
| Scale | $596M assets · $499M deposits, $475M of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 8200 |
| Charter state | Minnesota · one of 223 insured banks chartered there (Q2 2026, FDIC) |
| Size | 1,574th-largest by deposits of 4,238 insured banks (Q2 2026, FDIC) |
| Deposit growth | Higher than at 29% of 4,226 insured banks over the four quarters to Q2 2026 (FDIC) |
Financial detail is in What Citizens Bank Minnesota pays on deposits above.
Common questions about Citizens Bank Minnesota
Is Citizens Bank Minnesota FDIC insured?
Yes. Citizens Bank Minnesota is FDIC insured under certificate 8200, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at Citizens Bank Minnesota?
Citizens Bank Minnesota requires a minimum deposit of $5,000 to open its WooHoo! Savings account, as observed on Oct 14, 2026. Check the bank's current terms before you open an account.
Does the 2.02% apply to my whole balance?
The 2.02% needs a balance of at least $100,000. Below that, the account advertises 0.75%. Rates are as observed on Oct 14, 2026.
Does Citizens Bank Minnesota have branches?
Yes. Citizens Bank Minnesota operates 6 branches according to FDIC branch records, in addition to its website and mobile apps.
Citizens Bank Minnesota against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| Citizens Bank Minnesota | Up to2.02% | 1.04% | $5,000 | 6 branches in MN |
| Coleman County State Bank | Up to2.02% | 1.42% | $10,000 | 7 branches in TX |
| Elizabethton Federal Savings Bank | Up to2.02% | 0.13% | not stated | 5 branches in TN |
| First Guaranty Bank | 2.02% | 2.69% | $25,000 | 25 branches in KY, LA, WV |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose savings APY is closest to Citizens Bank Minnesota's.
Similar banks and related pages
Banks in the same rate band with the same product mix:
Other banks chartered in Minnesota, nearest to Citizens Bank Minnesota in deposits:
Rate hubs: today's highest savings rates, and CD rates by term.
State pages: savings rates in Minnesota, and banks in Minnesota.