bank rates

Make More Than 3% With A 22-Month CD

CD rates are so low right now that you usually have to commit your money for at least five years to earn 3%.

But Citizens First, a 32-branch bank headquartered in Port Huron, Mich., is paying 3.15% APY on a 22-month certificate of deposit.

The minimum deposit is only $1,000, the offer is available nationwide, and you can open an account online.

While it’s true that odd-term CD rates are often higher than those on your standard 12-, 24- or 36-month CDs, this CD rate is exceptional.

It’s more than double the national average for 24-month CDs and is substantially higher than the best nationally available rate for a 24-month CD — 2.47% from E-Loan Bank.

Just remember that great rates usually don’t last at community banks because they quickly attract all of the money they need. So, if you’re in the market, sign-up today.

You can also click here to see how Citizens First’s deal compares with the best CD rates and terms from dozens of other banks in our extensive database.

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Comments (14)
1 Star2 Stars3 Stars4 Stars5 Stars (5 votes, average: 3.80 out of 5)
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14 Existing Comments
  1. Rate Checker said:
    on August 1st at 10:46 am

    This bank is not to be found on FDIC it appears someone is trying to
    pull a quick one.

  2. rd said:
    on August 1st at 12:25 pm

    Citizens First Savings Bank has been FDIC insured since August 1, 1938
    It was established on January 1, 1937.
    Its main office (headquarters) is located at:
    525 Water Street
    Port Huron, Michigan 48060
    County of St. Clair

  3. rd said:
    on August 1st at 12:27 pm

    FDIC Certificate #: 30005 Bank Charter Class: SB

  4. renee kellis said:
    on August 1st at 01:20 pm

    are you fdic insured?

    are you fdid insured

  5. ck said:
    on August 1st at 03:06 pm

    The bank has a one star rating on Bankrate. Not good.

  6. skinny jenny said:
    on August 1st at 03:26 pm

    Lots of banks offering the best rates are in financial trouble. They’re doing it to raise capital. But if Citizens First is FDIC insured — and it says it is on its Web site — your money is safe even if it fails and gets taken over by the government.

  7. ck said:
    on August 3rd at 03:30 pm

    Your deposit is secure but do you get your interest if the bank assets are liquidated ?

  8. Ralfie said:
    on August 4th at 10:25 am

    The FDIC insures your interest up to the date the bank fails.

  9. rd said:
    on August 4th at 06:12 pm

    Up to and including the max. cap of $250K for eligible accounts.

  10. TJ said:
    on August 5th at 12:25 pm

    You must have a checking acct with them to qualify for the 22 month 3.15% CD. Its a costomer special.

  11. Will said:
    on August 5th at 01:20 pm

    It states that you have to have a checking account, but you DO NOT. I applied for a checking account online and just talked to a representative at the bank who informed me that was incorrect and you don’t have to have a checking account.

    She then asked me if I really wanted to open a checking account with a bank in Michigan when I live in Texas. Ha…

  12. DealMaven said:
    on August 6th at 10:45 am

    We checked again with Citizens First Bank in Port Huron and you absolutely do not need a checking account or any other banking relationship to open the special 22-month “new money” CD. And it still pays an amazing 3.15% APY.

  13. StJames said:
    on August 8th at 05:52 am

    i just checked and that rate is no longer offered …

  14. Sal Liggieri said:
    on August 9th at 05:43 pm

    As of August 10, their website now has the rate at 2.50%.