Review of CD Bank’s CD Rates

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Updated on Friday, October 1, 2021

CD Bank’s CD Rates

High-yield CD savings options with flexible terms.



3 Months


6 Months


9 Months


12 Months


18 Months


24 Months


36 Months


48 Months


60 Months


  • Minimum opening deposit: $10,000
  • Minimum balance amount to earn APY: $10,000
  • Early withdrawal penalty: Lose months of interest earnings depending on CD term
    • 3 months of interest for a CDs with a term of less than 12 months
    • 12 months of interest for a CD with a term of 12-18 months
    • 18 months of interest for a CD with a term of 24-36 months
    • 24 months of interest for a CD with a term of 48-60 months

CD Bank offers a CD term to accommodate long-term and short-term savings goals. Their interest rates are pretty good even for the shorter-term CDs. For a 6-month CD, you can still secure a substantial APR better than most savings accounts. Interest is credited to your account quarterly.

CD Bank doesn’t charge any fees aside from the early withdrawal penalties. It’s best not to withdraw your money before the CD’s maturity date because you’ll lose some of your interest earnings.

You can fund your CD account with an electronic transfer or by check from another bank account, or you can do a wire transfer.

The only downside about CD Bank’s certificates of deposit is the high, $10,000 minimum opening deposit that is consistent for all their terms. That is why this type of CD would be best for a saver looking to set aside a 5-figure sum of money and not someone only looking to save a small amount.

When your CD matures, you have a 10-day grace period to withdraw the funds or roll your CD over for a new term. If you do nothing during this time, CD Bank will automatically roll your CD over to another identical term and lock in the current APR at the time.

How to get a CD from CD Bank

You can open an account with CD Bank online through their website. Just click the green ‘Open Your Account’ button in the top right corner and complete your application in minutes.

You need to be at least 18 years old and must be a U.S. citizen or U.S. resident alien to open your account. You’ll need to have the following information handy: U.S. Social Security number, a valid form of ID (including driver’s license, state ID or passport), and your previous home address (if you’ve lived at your current home address less than two years).


on CD Bank’s secure website

Member FDIC

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How CD Bank’s CD rates compare

CD Bank’s CD rates are on par with some of the best offerings out there. Their current rates for shorter term CDs — including their 6-month, 9-month, and 12-month products — are even higher than some of the top banks with the best CD rates.

Since CD Bank is an online bank with an easy application process, it’s easy for you to sign up and lock in these competitive rates.

Again, the only potential drawback is the high minimum opening deposit. Other banks — like Ally Bank, Marcus by Goldman Sachs, and Synchrony Bank — all have lower minimum opening deposits and still provide a high APY.

Overall review of CD Bank’s banking products

Overall, CD Bank provides a solid certificate of deposit product that gets the job done. They offer flexible terms to help you meet a range of savings needs while offering some of the best interest rates in the industry.

In order to take advantage of their CDs, you need to come in with a high opening deposit. If you can’t afford to make a 5-figure deposit but still want to invest in a CD, you’ll have better luck looking elsewhere and choosing from another bank.