Find the latest Bank5 Connect CD Rates, Offers, and Promotions here.
Best CD Rates: 12-month CD, 3.10% APY ($500 minimum deposit). 24-month Investment CD, 3.30% APY, $500 minimum/$500k maximum opening deposit, unlimited number of deposits throughout the term.
There is now the 24-month Investment CD (3.30% APY) which is also an add-on CD. You can make unlimited deposits anytime during the term. There is a $500 minimum deposit and a maximum opening deposit is $500k. However, you can add as much as you want anytime during the term up to $1M balance cap.
Availability: Nationwide, with the exception of Massachusetts and Rhode Island.
Credit Inquiry: Unknown
About Bank5 Connect
Bank5 Connect has been serving its community for more than 160 years and is an online-only bank, which means there are no brick-and-mortar physical locations. As an online-only bank, Bank5 Connect has low overhead costs, meaning they can offer more competitive rates on their products.
Bank5 Connect offers a vast array of products including CD options for all of your specific financial needs. From checking and savings account to loans and CDs, you are bound to find one that works for you.
|Term||APY Rate||Minimum Deposit|
|24-Month Investment CD||3.30%||$500|
*The above rates are accurate as of 09/20/2022*
Bank5 Connect CD Rates
CDs are a certificate issued by a bank to a person depositing money for a specified length of time. Usually the longer of a term, the higher APY rate you make.
Bank5 Connect’s Best CD Offer pays the highest APY rate with a 3.20% APY rate on their 21-Month term. If you’re interested in earning a higher rate than a traditional savings account than make sure to check out the CD rates below.
- Minimum deposit: $500
- Maximum deposit: $1,000,000
- Early withdrawal penalty: There’s an early withdrawal penalty on a Connect CD of 3 months of interest for terms less than one year and 6 months of interest for terms greater than one year
Editor’s Note: You can fund your account up to $500K maximum via ACH. They will also let you fund with a credit card up to $100.
To name a beneficiary on a Bank5 Connect account, you must call Bank5 Connect at (855) 552-2655.
There is a 10-day calendar grace period before a CD renews. If you choose to not renew, the maturing funds will be transferred to an interest-bearing Bank5 Connect liquid account.
|Compare to the best CDs such as Sallie Mae Bank 27-Month CD (5.15% APY), Blue Federal Credit Union 15-Month CD (5.15% APY), First Mid Bank & Trust 9-Month CD (5.10% APY), FVCbank 12-Month No Penalty CD (5.06% APY), CIT Bank 6-Month CD (5.00% APY), and CIT Bank 11-Month No Penalty CD (4.90% APY).|
Bank5 Connect CD Features
- No hidden fees or maintenance fees
- Low minimum deposit of $500
- Competitive rates
- Federally insured by the FDIC
Whether you are interested in a short term or long term CD, look no further than Bank5 Connect. Bank5 Connect is a DIF member bank, and all their deposit accounts are covered by DIF insurance. So sign up for a CD and the enjoy their high APY rates today.
This is ideal for accounts like Certificate of Deposits, which require very little maintenance. The rates are worth a look, but always compare them with the nation’s best using our guides: CD Rates | Savings Rates.
*Although Bank5 Connect does have competitive rates, their product line is limited. I recommend to take a look at Discover Bank Promotions here
|Blue Federal Credit Union||5.15% APY 15-Month CD||Review|
|Sallie Mae||5.15% APY 27-Month CD||Review|
|Ponce Bank||5.15% APY 3-Month High Yield CD||Review|
|Quontic Bank||5.15% APY 12-Month CD||Review|
|First Mid Bank & Trust||5.10% APY 9-Month CD||Review|
|Ponce Bank||5.10% APY 1-Month High Yield CD||Review|
|Ponce Bank||5.06% APY 4-Month No-Penalty CD||Review|
|Western Alliance Bank||5.01% APY 12-Month CD||Review|
|CIT Bank||5.00% APY 6-Month CD||Review|
|Western Alliance Bank||5.00% APY 6-Month CD||Review|
|Western Alliance Bank||5.00% APY 3-Month CD||Review|
|Sallie Mae||5.00% APY 23-Month CD||Review|
|Blue Federal Credit Union||5.00% APY 9-Month No Penalty CD||Review|
|mph.bank||4.92% APY 6-Month No Penalty CD||Review|
|First Mid Bank & Trust||4.92% APY 12-Month No Penalty CD||Review|
|FVCbank||4.90% APY 12-Month No Penalty CD||Review|
|CIT Bank||4.90% APY 11-Month No-Penalty CD||Review|
|Idabel National Bank||4.90% APY 24-Month CD||Review|
|Nationwide||4.75% APY 12-Month CD||Review|
|Discover Bank||4.75% APY 18-Month CD||Review|
|Sallie Mae||4.75% APY 14-Month No-Penalty CD||Review|
|Sallie Mae||4.70% APY 10-Month No-Penalty CD||Review|
|CIT Bank||4.65% APY 13-Month CD||Review|
|CIT Bank||4.60% APY 18-Month CD||Review|
|Great Lakes Credit Union||4.60% APY 12-Month CD||Review|
|SkyOne Federal Credit Union||4.50% APY 15-Month CD||Review|
|SkyOne Federal Credit Union||4.20% APY 12-Month CD||Review|
This is a great opportunity to invest in a high-interest CD from Bank5 Connect. However, you may want to compare them with our best CD Rates:
- Best 6-Month CD Rates
- Best 9-Month CD Rates
- Best 12-Month CD Rates
- Best 18-Month CD Rates
- Best 24-Month CD Rates
- Best 36-Month CD Rates
- Best 48-Month CD Rates
- Best 60-Month CD Rates
You might even find yourself earning more than a regular savings account. Be sure to apply as soon as you can to start your new account experience. Check back often for the latest Bank5 Connect CD rates!
Disclaimer: Rates / APY terms above are current as of the date indicated. These quotes are from banks, credit unions and thrifts. Bank, thrift and credit union deposits are insured by the FDIC or NCUA. Contact the bank for the terms and conditions that may apply to you. Rates are subject to change without notice and may not be the same at all branches.
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