It is true that sometimes, your regular saving bank account will not offer the desired results. You might be depositing your money diligently into the saving account every month. But a low in interest rate has made your account grow slower. So, if you are in search of something better,  Citizens Access online savings bank may be a good option. The bank offers a highly secure place to keep your money and comes with features that will maximize your earnings. Citizens Access online bank was introduced by Citizens Bank in July 2018 and has become very popular among people.

Citizen Access account features

The online bank offers two major banking products, one is a savings account, and another one is a CD. It offers a good APY of 1.5%, but you will have to make a minimum deposit of  $5000 to your bank account. If you go under the minimum balance limit, then the interest can go down to 0.25%. The CD option also has very competitive rates, but it also requires a minimum deposit of  $5,000. If you can do that, then go for it.

The best thing about their account is, they don’t charge fees for operations or maintenance. There are also no monthly service fees. In addition, they offer liquid CDs, which are essentially no-penalty CDs. With such an account you can make a withdrawal after 7 days.

Furthermore, Citizens Access accounts are secured by the FDIC- Federal Deposit Insurance Corporation. So, the funds deposited into the account are insured up to $ 250,000 per depositor. This adds additional security to do banking with Citizens Bank.

Citizens Access’s CD ladder option

The users who want to get the most out of CD rates without constantly opening and closing the accounts can go for the CD ladder strategy. For this, the account holders need to deposit  $25,000 to spread over a minimum of 5 CDs.

Citizens Access Liquid CD account

If you think with CDs your money may remain locked for a long time period; then you can always go for an alternative option called Liquid CD. You will have to keep your money for 11 months, and the APY will be 135 %. You can withdraw funds at any time, but there will be no penalty.

The processes in place to add money to accounts

Online fund transfer

You can link any saving accounts from other U.S. financial institutions to Citizens Access using the account number and routing number. After that, you can make online fund transfers.

Check deposits

People can submit checks by signing into their account and then choosing Deposit a Check option. They can find it in the “Move Money” menu. They can also mail their check to the bank.

Direct deposit

For this, the account holders need to submit their routing and account number to the Payroll Department. You can use a Direct Deposit Authorization form.

What do customers say about the bank?  

“The bank is great for me, and as I like online banking facilities, so I have chosen the Citizen Access online bank. The saving interest rate is good, and the customer support team is very professional. Till now, my account is working fine. My overall experience with Citizen Access is good.”  Lizbeth

“First, I was a little hesitant to move my saving account to another bank. But I found Citizens Access’s CD rates better and so put some fun in CDs and in saving. Well, I wish I had done that earlier. Their websites quite easy to use.” – Arnold Donnelly

Interested people can visit the official site of Citizens Access to open a saving account, and it takes just 5 to 10 minutes.

Goldman Sachs, a behemoth of the financial services industry, introduced Marcus by Goldman Sachs to expand its offerings in 2016. The online savings bank arm offers high-yield CDs- Certificates of Deposit, zero cost personal loans and high-yield savings accounts. The brand’s mission is to keep things inexpensive and simple.

Types of accounts from Marcus

With Marcus by Goldman Sachs, you can open three types of accounts:

  1. CD’s
  2. Online savings accounts
  3. Personal unsecured loans

Highlights of Marcus by Goldman Sachs

No minimum balance requirement

The best thing about the Marcus is it doesn’t have any minimum account balance requirement in order to enjoy the interest rate. That means you can open your saving account now with a low deposit amount and deposit more money later.

High APY

The savings account offers an impressive APY- Annual Percentage Yield. Other savings bank accounts offer 0.09 per cent APY; the Marcus accounts have a higher APY. The APY is 1.15 per cent, much higher than the industry norm.

Zero monthly maintenance fee

When you have a Marcus by Goldman Sachs online savings account, you don’t have to worry about the maintenance cost. However, if account holders transfer funds to the account, then Marcus will not be responsible for funds transfer fees imposed by the other institution.

FDIC insured

Marcus is an arm of Goldman Sachs Bank USA. The bank is insured by FDIC- Federal Deposit Insurance Corporation. That means the authority protects the account holder’s money up to $250,000 per depositor.

Better transfer limits

A Marcus saving account allows six transfers per month, including deposits as well as withdrawals and up $125,000 cash transfers per month.

Who are Marcus savings accounts best for?

It is the best saving account option for those who want to have a savings account with a higher interest rate and don’t want to move money in and out. Besides, it can be a good option for those who:

  • Want to free of cost savings account just to store their money.
  • Don’t have sufficient savings to get qualified for better interest rates with other saving accounts that typically require huge initial deposits.
  • Don’t require other checking accounts.
  • Require faster money transfers.

Marcus’ CD options

By depositing $500, you can open a CD. For one year, the yield will be 2.50 %, for three years, it is 2.60 %, and by living the savings for five years, you can get a yield of 2.80 %.

Marcus – Also a provider of unsecured personal loans

If you are looking for an unsecured personal loan with decent APR, then Marcus’ personal loans aren’t bad either. Marcus offers personal loans starting from $3,500 to $30,000. The APR ranges from 6.99 percent to 23.99 percent. The length of terms for the loan ranges from 36 months to 72 months. If you have a good credit score, you can qualify for the lesser rate and better loan terms.

What are customers saying about Marcus? 

“Marcus personal loans are just amazing, and I found it quite useful for their low APRs and fees. I have two online saving accounts with the bank and have not faced any issue till now. My overall experience is good with them.” – Steve

“I will give five stars to the bank for offering a very easy process to open a new account. On the hand, the transferring process is fast. It took just 15 minutes, and I got my new saving account. The bank is genuine, and I would definitely recommend it to others.” – Thomas Kirby

Interested people can or call 1-855-730-7283 to open a saving account. For a personal loan, they can call 1-844-627-2871.