The interest rates on these savings accounts vary from bank-to-bank, but it can be as much as 2.15% APY for your first six months at Discover Bank. There’s no minimum balance and you earn a higher rate than other similarly structured products.

The “best 1-year cd rates” are the best CD rates available on the market. The current best 1-year CD rate is 2.15% APY.

Bread Savings CD Rates – Up to 2.15% APY

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Bread Savings, previously Comenity Direct, offers very low CD rates on all five of their normal term certificates of deposit.

You may recall Comenity Direct. They consistently have the greatest returns on fixed rate CDs as well as their variable rate online savings account. Bread Savings has maintained the competitiveness of these offerings to this day.

Below are the pricing and account information.

This article will teach you:

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A $1,500 minimum deposit is required for a Bread Savings certificate of deposit, which is federally insured up to $250,000 per depositor.

CD Rates

Term APY
1 year 1.50%
2 year 1.80%
3 year 1.85%
4 year 1.95%
5 year 2.15%

To put these rates in context, the current national average for a 12 month CD and a 60 month CD, according to latest FDIC statistics, is only 0.17 percent APY and 0.32 percent APY, respectively.

At present moment, Bread Savings does not provide any specialized CDs or CDs with a period of less than one year.

They also have a $1 million deposit limit per account and a $10 million deposit limit per client.

Interest Compounding

The interest you receive on a Bread Savings CD accrues and accumulates on a daily basis. The money is subsequently credited and deposited to the account on a monthly basis.

Fees

A Bread Savings CD has no monthly maintenance fees or other hidden charges. An outbound wire transfer or an official check request are the only expenses you could incur with your deposit account. The following are the fees:

  • Each outbound wire transfer costs $25.
  • Each formal check request costs $15.

A $5 print statement charge applies if you want to get paper statements rather than read them online.

Fees for Early Withdrawal

If you need to access your funds prior to the maturity of your CD, you stand to lose a portion of your interest but you will not lose any of your principal. Fees for Early Withdrawal are as follows:

  • The penalty is 90 days simple interest for periods less than one year.
  • The penalty is 180 days simple interest for periods of 12 to 3 years.
  • The penalty is 365 days simple interest for periods of four years or more.

Period of Grace

Prior to the maturity of your CD, Bread Savings will notify you letting you know the term is almost over. When it is, you will be given a 10 day Period of Grace in which you may withdraw any or all of these funds. If nothing is done within the 10 day window, Bread Savings will automatically renew your CD with the same term and the going APY at that time.

The “wells fargo cd rates” is a tool that allows users to find the best CD rates for their money. It also has an online calculator that can be used to determine how much interest you will earn from your investment.

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