Citizens Trust Bank Online Savings Account Rates

Since 1921 Citizens Trust Bank has proven themselves to be a substantial force in the financial services industry. Ever since their founding they have made it a company mission to provide economic empowerment to the communities they serve. One of the many ways they do this is with their online savings accounts.

While their physical branch locations are in the Atlanta area, this should not necessarily dissuade outside customers from considering an online account. There are always ATMs that you can use and the Citizens Trust Bank online savings account rates are ones that should be considered carefully. However it is important to note that if you want a signature card then you will need to so to their offices to sign it, and they can always request that you come in for photocopies of your identification, and the application online will only accept applicants from Georgia and Alabama.

Citizens Trust Bank has two types of online savings account, though they both earn the same annual interest rate. The current interest rate being offered by the financial institution is a 0.30% as on 03/02/10. Of course, as with any interest rate it is subject to change at any time. While the interest rate is the same, the biggest difference in the two accounts is the minimum needed to open the account and the minimum balance needed to obtain the stated interest rate.

The regular savings account requires a $100.00 deposit to open the account and you must maintain the same minimum balance in order to earn any interest on the account. The future savings account only requires a minimum opening deposit of $10.00 and the balance must stay at $5.00 or more in order to earn interest.

The future savings is more an account that is directed toward helping students or children learn how to save money since they have the lower threshold for minimum balances.  With either account you will forfeit any interest if your balance falls below the minimum, so the lower threshold makes it perfect for children. The application is easy enough, asking for your identification information and what kind of account you would like.  Then simply hit submit and you are on your way.