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Bask Bank offers some of the highest interest rates on the market. Bask Bank offers CD terms ranging from 6 to 24 months, making it a great option for short and mid-term investments. Bask Bank has a minimum deposit requirement and doesn't offer CD terms longer than 24 months, so it may not be right for everyone.
Read this review to learn more about Bask Bank CD rates, how they compare to the competition, and who should get a Bask Bank CD.
APY = Annual Percentage Yield
You get a few straightforward CD terms to choose from (from 6 months to 2 years), and a competitive APY from Bask Bank. But you will need to pony up $1,000 to open one of these CDs.
6 Mo. APY | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY |
---|---|---|---|
5.15% | 5.20% | 4.50% | 4.50% |
Bask Bank has some of the best 6-month to 24-month CDs rates available on the market, especially for its 6-month CDs. Take a look at how some of the competition stacks up.
Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
---|---|---|---|---|
Member FDIC.
| APY: 5.10% | Term: 10 Months | Min. Deposit: $0 | |
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
APY: 5.05% | Term: 1 Year | Min. Deposit: $1 | ||
APY: 5.15% | Term: 9 Months | Min. Deposit: $1 | ||
Member FDIC.
| APY: 4.75% | Term: 1 Year | Min. Deposit: $500 |
Bask Bank offers four CD options: 6 months, 12 months, 18 months, and 24 months.
Bask CD rates are extremely competitive and some of the highest in the market. There are also no fees. However, penalties for early withdrawals are high and Bask Bank doesn't offer CD terms longer than 24 months.
The early withdrawal penalty for 6-month and 12-month CDs is three months of interest and the penalty for CDs with longer terms is six months of interest. If the penalty is higher than the accrued interest, the difference will be taken from your principal.
Bask Bank also requires an initial deposit of $1,000. This must be received within 10 business days, or the account will be closed. Once you make the initial deposit, you will not be able to make any additional deposits until the renewal grace period at the end of the CD term.
After your CD matures, you will have a 10-day grace period. You can choose to withdraw your funds, add funds, move to another Bask Bank CD, or adjust the term length. If you do nothing, your CD is renewed automatically and you'll receive a renewal letter after the end of the grace period.
Bask Bank CDs are right for those who want to earn a high interest rate, are comfortable with online banking, and are able to meet the $1,000 minimum requirement.
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
Learn more about how The Motley Fool Ascent rates bank accounts.
If you're looking for a high interest rate CD with a term of 24 months or less, Bask Bank might be a fit for you.
Bask Bank CDs offer some of the highest CD rates in the market. CDs are a safe way to grow your money if you don't need it for day-to-day expenses.
Our Banking Expert
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