Last Updated: 04/18/2025
First Citizens Bank High-Yield CD Account
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in CD Accounts from First Citizens Bank
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
5.00%(Verified 06/21/2024)
Minimum Opening Deposit
Starting at $5,000
Certificate Term
11 months
First Citizens Bank High-Yield CD Account Review
First Citizens Bank High-Yield CD Account are offered by First Citizens Bank, a bank founded in 1898 and based in Raleigh, NC. First Citizens Bank High-Yield CD Account are available in 50 states and Washington, DC.
Key Takeaways
- Small selection of CD account types. First Citizens Bank High-Yield CD Account only offers bump up and traditional CDs.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 5.00%, which is much higher than the national average for a CD account.
- High minimum deposit. You must deposit a minimum of $5,000, which is high compared to most CD accounts.
- Limited selection of CD terms. First Citizens Bank High-Yield CD Account only offers one CD term. This limits your options when trying to set up a CD ladder.
Pros & Cons of First Citizens Bank High-Yield CD Account
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First Citizens Bank High-Yield CD Account FAQ
Are CD from First Citizens Bank federally insured?
Yes, your First Citizens Bank CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
What types of CDs does First Citizens Bank offer?
First Citizens Bank High-Yield CD Account provides the following types of CDs.- Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CDs for another term.
- Bump-up CDs. Bump-up CDs allow you to increase the interest rate you earn on your savings if the going interest rates rise. These CDs are useful in a changing interest rate environment.
What rates does First Citizens Bank offer on its CDs?
The CD rates for this account have an APY of5.00% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1.6% APY for 12-month CDs.
What terms does First Citizens Bank High-Yield CD Account offer?
First Citizens Bank offers CD terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term | 11 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 11-Month APY | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a CD account with First Citizens Bank?
First Citizens Bank High-Yield CD Account require a minimum deposit of $5,000 to open an account.
What is the grace period for First Citizens Bank High-Yield CD Account?
First Citizens Bank High-Yield CD Account does not specify what their grace period is. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new CD rates probably won’t be the same as the original.
What types of fees, such as early withdrawal penalties, does First Citizens Bank charge?
Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the term ends.
First Citizens Bank charges an early withdrawal fee.
First Citizens Bank does charge any of the fees we track.
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Hours of Operation
Sunday
7:00AM - 11:00PM
Monday
7:00AM - 11:00PM
Tuesday
7:00AM - 11:00PM
Wednesday
7:00AM - 11:00PM
Thursday
7:00AM - 11:00PM
Friday
7:00AM - 11:00PM
Saturday
7:00AM - 11:00PM