The online division doesn't operate in Florida, Somoa, Guam, the Northern Mariana Islands, or the U.S. TotalDirectBank is the online-only division of the City National Bank of Florida. TotalDirectBank CDs have a steep minimum opening deposit of $25,000 and a maximum deposit of $1 million. Penalties: This account doesn't have any early withdrawal penalties.Ī TotalDirectBank CD may be appealing if you're searching for a 3-month or 6-month term available nationwide. Term options: Raisin is partnered with over 30 banks and credit unions, so it has multiple terms for both no-penalty and regular CDs. It also won't be the best choice if you want to do all your banking at one institution because you can't open checking accounts.

Raisin may be appealing if you'd like to open a CD with a low minimum opening deposit. Raisin is an online marketplace with savings accounts, money market accounts, and CDs from different financial institutions. The SkyOne Federal Credit Union 1 Year No-Penalty CD offers the highest no-penalty CD rate at Raisin. SkyOne Federal Credit Union 1 Year No-Penalty CD Penalties: The early withdrawal penalty for the 8-month CD special is 90 days of interest. Term options: Financial Partners Credit Union also has terms ranging from 3 months to 5 years. This offering is also only for new members. This promotional CD has specific opening requirements: You must deposit at least $1,000 but no more than $5,000. To open the CD special, you must live in an eligible area in Southern California (Los Angeles County, Orange County, Riverside County, San Diego County, the city of San Francisco, or Alameda, California). You can earn 6.50% APY on an 8-month CD if you qualify for membership at the credit union. The Financial Partners Credit Union 8-Month Certificate Special pays the highest CD rate overall. Financial Partners Credit Union 8-Month CD Special When a financial institution is FDIC- or NCUA-insured, up to $250,000 per depositor, per account category is secure in a bank account. Bear in mind money is safe at a federally insured financial institution. Our top picks for CDs are protected by federal insurance.

Also, make sure you know what steps you need to take once your CD term ends. Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.ĬDs aren't as accessible as other types of savings accounts, so keep in mind how long you can keep money in the account without potentially facing early withdrawal penalties.

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