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Bread Savings CD rates will make you look twice, wipe your eyes, then look a third time in disbelief. This mobile bank offers some of the highest interest rates on CDs we've seen. The minimum deposit is fairly high ($1,500), but if you're okay locking a grand and a half up you could snag an excellent CD rate. Below we'll break down Bread Savings CD rates, stack them up against competitors, and see if it's right for you.
APY = Annual Percentage Yield
Comenity Direct CDs (the bank behind Bread Savings) are available in many of the most popular terms, making it a flexible high-yield CD to consider for differing needs. There's also no monthly maintenance fee. But its $1,500 minimum deposit is a little steeper than what some of its competitors charge.
1 Yr. APY | 2 Yr. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY |
---|---|---|---|---|
5.25% | 4.65% | 4.25% | 4.15% | 4.15% |
Bread Savings CD rates are higher than the national average and can compete with bigger, more well-known financial institutions. Here's how Bread Savings CDs stack up against its competitors.
Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
---|---|---|---|---|
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
APY: 4.95% | Term: 1 Year | Min. Deposit: — | ||
APY: 5.00% | Term: 9 Months | Min. Deposit: — |
Bread Savings' CDs are an excellent choice if you can deposit more than $1,500 in a CD. To help you make the best decision, here are some pros and cons to consider.
Bread Savings CD offers a big punch for a reasonable minimum deposit. The APYs are extremely competitive, the term lengths are decently varied, and the $0 monthly fees are icing on the cake. That said, if you want a term shorter than 12 months, or you can't lock up $1,500, you'll have to consider one of Bread Savings' many CD competitors.
A Bread Savings CD is perfect for savers who have at least $1,500 and want a CD with a term that's greater than 12 months. It's also an excellent choice if you prefer online and mobile banking over brick-and-mortar banks.
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.
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You should get a Bread Savings CD if you want a high CD rate with no monthly maintenance fees. If you have substantial savings, you could even build a powerful CD ladder with different Bread Savings CDs.
A Bread Savings CD is worth it if you have $1,500 to lock up for one to five years and want to earn more interest than the CD national average.
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