FinWise Bank High-Yield CDs
Guaranteed Returns:
Open a CD with a $500 Minimum Deposit
Online Account Opening
Open a CD online, no matter where you are in the U.S.
Our online account opening process will guide you from start to finish. This application process should take approximately 10 minutes, and you will need the following items:
- Driver’s License, Passport, Military ID or State ID
- U.S. Social Security Number
- U.S. Citizenship or Resident alien status
- External account information if funding from an external account
Enjoy the convenience of opening a CD from no matter where you and your circle are today.
Certificate of Deposit (CD) Features
How will you benefit from
our FinWise Bank CDs?
About Certificate of Deposits
What is a CD?
Certificates of Deposit3 are great for saving money you don’t need access to until the end of your specified term.
CDs allow you to save money over a fixed timeframe otherwise known as a “term” at a fixed interest rate. Traditional savings accounts have variable interest rates and may change over time. When you invest in a CD you will know what to expect at the end of your term.
Read our MoneyWise article to learn more: How Does a Certificate of Deposit Work?
Still have questions?
Get help from our support team below or call 1-833-346-9473.
DISCLOSURES:
*APY = Annual Percentage Yield is accurate as of today and assumes that interest and principal will remain on deposit until maturity.
1 - FDIC insured up to $250,000 per depositor, per ownership category.
2 - Offer good for the initial term only. This account will automatically renew. You will have 10 calendar days after maturity date to withdraw funds without penalty. If you do not withdraw funds, each renewal term will be for an identical period of time as the original term. Interest on renewed accounts will be calculated at the interest rate then in effect for time deposits of that deposit amount and term. Fees could reduce the earnings on the account.
3 - A Certificate of Deposit (CD) is a Time Deposit account. By opening a Time Deposit account, you will agree to keep funds in your account until the maturity of your account. If you choose to close your account early, an early withdrawal penalty may apply. If your Account has not yet earned enough interest so that the penalty can be deducted from earned interest, or if the interest already has been paid, the difference will be deducted from the principal amount of your Account. For fixed rate Accounts, we will use the rate in effect for your deposit.
Deposit products are offered by FinWise Bank at 820 E 9400 S, Sandy, UT 84094. Member FDIC.
Frequently Asked Questions
Our experts answer your questions.
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Can I make additional deposits during my term?
All deposits must be made at the beginning of your term and can be withdrawn at maturity.
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How safe is it to stash cash in a CD account?
CD savings accounts allow you to save with low risk. FinWise Bank is a FDIC insured1 institution. You can rest assured that your CD account will be just as safe as traditional savings accounts.
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What happens at the end of my CD term?
At the end of your term, you may withdraw from your account the full amount you deposited into the account plus any interest you have earned while carrying out your term. Or keep it set to auto renew2 for even more earnings!
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What if I need access to my funds before the end of my term?
Before opening CD account, you should consider when you need access to your funds. To receive the full benefits of a CD Savings account you should refrain from withdrawing from your account. However, we understand life happens.
If you withdraw early there is a penalty of 90-day loss of interest. If your Account has not yet earned enough interest so that the penalty can be deducted from earned interest, or if the interest already has been paid, the difference will be deducted from the principal amount of your Account. For fixed rate Accounts, we will use the rate in effect for your deposit.
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