Business Savings

The Business Savings Account is your business' ticket to increased savings and a great place to keep excess funds until you need them.

Get an interest bearing account with an easy-to-use record keeping book for deposits and withdrawals.


  • Interest bearing
  • Low minimum balance
  • Free Online Banking
  • Free e-Statements
  • Free Citizens-On-Call Telephone Banking

View Current Rates

How to Open a Basic Business Savings Account

To open a Citizens business savings account today, bring the documents listed below to any of our offices.

1. Your business Employer Identification Number (EIN) or tax ID number (sole proprietors can use the owner's Social Security number).

2. Articles of Incorporation, Articles of Organization, or a charter or a similar legal document that indicates when your company was formed (not required for sole proprietors).

3. A government issued photo ID and Social Security number for you and anyone else authorized to sign checks or make transactions on behalf of your organization.

Ultimate CD

When you're looking for a solid investment to keep your unused assets, this CD is hard to beat. It combines the flexibility of a savings account with the market rates of a CD. You can even take money out during the term if you need to.

Outstanding rates without losing access to funds? No wonder we call it the Ultimate!


  • Variable tiered interest rate
  • Interest compounded and paid quarterly
  • No maturity date
  • Unlimited deposits
  • No monthly processing fee
  • One no-fee withdrawal per quarter*
  • Interest can be automatically transferred to another Citizens account
  • $1,000 minimum balance

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*One no-fee withdrawal may be made during any of the first five business days of each calendar quarter.

Individual Retirement Account (IRA)

We realize that saving for the future can be hard work, and knowing how to invest assets most effectively can be confusing.

Citizens Bank Minnesota offers many FDIC-insured IRA options to choose from, and knowledgeable client service representatives to help you decide which is the best choice for your business.


  • Competitive rates
  • Flexible terms

Types of IRAs

We offer a variety of IRA options to suit your unique needs:

  • A Traditional IRA is a special tax-deferred* savings plan authorized by the federal government to encourage you to accumulate money for retirement.
  • A Roth IRA is an individual retirement account to which participants can make annual nondeductible contributions. Unlike a Traditional IRA in which your earnings are tax-deferred, Roth IRA earnings can be tax-free.*
  • A Simplified Employee Pension (SEP) IRA is a written plan that allows you to make contributions toward your own retirement account and those of your eligible employees.

*Please consult your tax advisor.

Health Savings Account (HSA)

Staying healthy doesn't have to cost an arm and a leg. With an HSA, you can start saving for future medical costs so that you have the funds when you need them.

An HSA is a tax-exempt custodial account established for the purpose of paying medical expenses in conjunction with a high-deductible health care plan.


  • Interest bearing
  • Possible tax advantages*
  • Free check card
  • Free Online Banking
  • Online Bill Payment
  • Low annual fee*
  • No minimum balance
  • Money may be used for any qualifying medical expense

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*Please consult your tax advisor. Annual fee is waived when enrolled with e-statements.

Premiere Money Market

INVESTOR ALERT: Those on the lookout for a great opportunity should take note of this amazing deal!

Make the most of your savings, earning a money market rate of interest without sacrificing liquidity. Tiered interest rates maximize your dividends -- as your balance goes up, so do your returns.

You earn a tiered variable rate on your entire collected balance when minimum balance requirements are met. You can access your money by making a withdrawal at any Citizens office or writing a check.


  • Tiered interest rate to maximize earnings
  • Check writing privileges*
  • Free Online Banking
  • Free e-Statements
  • Free Citizens-On-Call Telephone Banking
  • Detailed monthly statement
View Current Rates

*Limit 3 checks per month. Checks must be $500 or more.

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