There is no limit to the number of CDs you can have at any time. You can have multiple certificates of deposit accounts at one bank or at different financial institutions. Our Dollar Bank experts can help you decide whether opening multiple CDs at the same time is a good strategy for your financial goals.
CD Rates
With competitive rates and the safety of FDIC insurance, our CDs offer you a secure way to earn more on your terms. Want to learn more? Check out our CD FAQs below.
Current Rates for All Terms
| Account Name | Term | Minimum Balance | APY* | Appointment |
|---|---|---|---|---|
| Bump-up CD | 15 months | $2,500.00 | 0.05 % (APY) | Schedule an Appointment |
| CD Ladder | 6 months | $1,000.00 | 1.00 % (APY) | Schedule an Appointment |
| CD Ladder | 12 months | $1,000.00 | 2.25 % (APY) | |
| CD Ladder | 18 months | $1,000.00 | 2.50 % (APY) | |
| CD Ladder | 24 months | $1,000.00 | 2.50 % (APY) | |
| CD Ladder | 30 months | $1,000.00 | 2.50 % (APY) | |
| CD Ladder | 36 months | $1,000.00 | 2.50 % (APY) | |
| CD Ladder | 48 months | $1,000.00 | 2.50 % (APY) | |
| CD Ladder | 60 months | $1,000.00 | 3.00 % (APY) | |
| CD Ladder | 120 months | $1,000.00 | 3.00 % (APY) | |
| Relationship CD | 6 months | $2,500.00 | 1.10 % (APY) | Schedule an Appointment |
| Relationship CD | 6 months | $250,000.01 | 1.00 % (APY) | |
| Relationship CD | 12 months | $2,500.00 | 2.35 % (APY) | |
| Relationship CD | 12 months | $250,000.01 | 2.25 % (APY) | |
| Relationship CD | 18 months | $2,500.00 | 2.60 % (APY) | |
| Relationship CD | 18 months | $250,000.01 | 2.50 % (APY) | |
| Relationship CD | 60 months | $2,500.00 | 3.10 % (APY) | |
| Relationship CD | 60 months | $250,000.01 | 3.00 % (APY) | |
| Rising Rate CD | 12 Months | $2,500.00 | 2.00 % (APY) | Schedule an Appointment |
| Rising Rate CD | 1st 90 Days | $2,500.00 | Interest Rate of 1.00 % (APY) | |
| Rising Rate CD | 2nd 90 days | $2,500.00 | Interest Rate of 1.75 % (APY) | |
| Rising Rate CD | 3rd 90 days | $2,500.00 | Interest Rate of 2.20 % (APY) | |
| Rising Rate CD | 4th 90 days | $2,500.00 | Interest Rate of 3.00 % (APY) | |
| Traditional Term CD | 3 months | $2,500.00 | 0.10 % (APY) | Schedule an Appointment |
| Traditional Term CD | 6 months | $2,500.00 | 1.00 % (APY) | |
| Traditional Term CD | 7 months | $2,500.00 | 0.15 % (APY) | |
| Traditional Term CD | 7 months | $25,000.00 | 5.00 % (APY) | |
| Traditional Term CD | 7 months | $1,000,000.01 | 0.15 % (APY) | |
| Traditional Term CD | 9 months | $2,500.00 | 1.00 % (APY) | |
| Traditional Term CD | 12 months | $2,500.00 | 2.25 % (APY) | |
| Traditional Term CD | 13 months | $2,500.00 | 0.50 % (APY) | |
| Traditional Term CD | 13 months | $25,000.00 | 4.80 % (APY) | |
| Traditional Term CD | 13 months | $1,000,000.01 | 0.50 % (APY) | |
| Traditional Term CD | 18 months | $2,500.00 | 2.50 % (APY) | |
| Traditional Term CD | 24 months | $2,500.00 | 2.50 % (APY) | |
| Traditional Term CD | 25 months | $2,500.00 | 0.50 % (APY) | |
| Traditional Term CD | 25 months | $25,000.00 | 4.25 % (APY) | |
| Traditional Term CD | 25 months | $1,000,000.01 | 0.50 % (APY) | |
| Traditional Term CD | 30 months | $2,500.00 | 2.50 % (APY) | |
| Traditional Term CD | 36 months | $2,500.00 | 2.50 % (APY) | |
| Traditional Term CD | 48 months | $2,500.00 | 2.50 % (APY) | |
| Traditional Term CD | 49 months | $2,500.00 | 0.25 % (APY) | |
| Traditional Term CD | 60 months | $2,500.00 | 3.00 % (APY) | |
| Traditional Term CD | 72 months | $2,500.00 | 3.00 % (APY) | |
| Traditional Term CD | 120 months | $2,500.00 | 3.00 % (APY) | |
| Three Month No Penalty CD | N/A | $2,500.00 | 0.03 % (APY) | Schedule an Appointment |
FAQs About Dollar Bank Certificates of Deposit
Can I transfer a CD from one bank to another?
A CD is a term deposit – which means you agree to keep it with the bank for a set amount of time. When your Dollar Bank CD matures, you will have a 7-day grace period to decide what you want to do with your money. You can let your CD renew or move your money into another account or into another CD at the same bank or a different one.
What is a variable rate CD?
With a variable rate CD, your money is locked up for a fixed period of time (term) and has an interest rate that fluctuates throughout the term. Dollar Bank offers a Bump-Up CD, if interest rates go up you have the choice of bumping up to a higher rate for the remainder of your term. Plus, you can select whether to receive your interest regularly or let it accumulate to earn more interest.
Can I add money to an existing CD account?
Unlike a savings account, once you open and fund your CD, you generally can’t add money until it reaches the end of its fixed term, which is called the maturity date. When your CD matures, you will have a grace period to decide what you want to do with your money. You can let your CD renew or move your money into another account or into another CD.
What types of CDs does Dollar Bank offer?
We go beyond traditional certificate of deposit accounts to offer a variety of CD options with competitive rates to meet your savings goals. Our selection of CDs offers you a secure way to earn more on your terms.
- Traditional Term CD - Choose the term and amount.
- Relationship CD – Earn our exclusive Relationship rate when you also have an Everything Checking account.
- CD Ladder – A combination of CDs working as one investment to maximize your savings
- Rising Rate CD – Get a high interest rate and access to your money every 90 days.
- Bump-Up CD – Lock in today’s rate with the flexibility to bump up to a higher rate later.
- 3-Month No Penalty CD – A short-term savings option at a high interest rate.
How does CD interest work?
CD interest gets compounded over time just like a regular savings account. This means you will earn interest on your initial deposit and the accrued interest that the CD earns. How much interest you accrue depends on the annual percentage yield (APY). Compounding takes place at regular intervals – such as daily or monthly.
Do you pay taxes on CD interest?
Interest earned on a certificate of deposit is considered taxable by the IRS, regardless of whether the money is received in cash or reinvested.
What happens to my CD when it matures?
We’ll send you a notice 30 days before your certificate of deposit matures to remind you of the upcoming maturity date. Once your CD matures, you have a 7-day grace period to decide whether you would like to renew the CD or add funds to it, move the funds to a different CD or account or withdraw the money. If you do nothing, your CD will automatically renew for the same term at the current interest rate. We’ll send you a renewal letter to verify the new rate and term.
Can I open a CD for my minor child?
A parent or guardian can open a CD for a minor child through a joint custodial account and manage the account until the child turns 18.
Learn more about FDIC insurance coverage for this product.