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Giantbank.com CD Review

How does your bank stack up?

  • Financial Rates: 4.0 Star Icon
  • Customer Service: 2.0 Star Icon
  • Variety of Terms: 5.0 Star Icon
  • Opening Required Amount: 4.0 Star Icon

Pros:

  • Most accounts offer competitive rates
  • Good variety of CD terms offered
  • Can apply through mail or online
  • Opening required amount is low

Cons:

  • Short-term CDs have low rates
  • Limited ways to fund CDs
  • Customer service has limited hours
  • Transfer interest to internal accounts

What You Need to Know

Most giantbank.com CDs offer competitive interest rates. The rates for some CDs are competitive with other online accounts. All of the CD rates are higher than typical bank rates. The CD terms that are 12-months and longer offer the most competitive interest rates.

There are a good variety of giantbank.com CD terms available. The terms range from 91-days to 60-month CDs. There are seven different terms offered through giantbank.com. You can apply for any of these CD terms online.

There are two options on how to open a CD with giantbank.com. You can apply for the CD online or fill out an application and send the application back through the mail. If you open the CD online there is a maximum opening amount of $50,000.

The opening required amount for giantbank.com CDs are low. Each of the CD terms requires $2,500 to open. You must keep a balance of at least $2,500 in the giantbank.com CDs to earn interest. Any amount over the required balance earns a competitive interest rate. The interest rates are not tiered.

The short-term CDs do not offer as competitive interest rates as the longer-term CDs. The 91-day, six-month, and nine-month CDs do not offer as competitive rates. These rates are still competitive. The rates are just not as competitive as the other giantbank.com terms.

giantbank.com limits the ways you can initially deposit money into CD accounts. Those ways include mailing in a check or a wire transfer. You can also transfer money from another giantbank.com account. The website does not say you can make the initial transfer from an external bank into a giantbank.com CD.

giantbank.com is an online bank. You can contact customer service through email, mail, phone, or fax. Customer service does have limited hours they are open. They are available Monday through Friday from 9 a.m. to 6 p.m. EST.

Customers can transfer the interest earned on giantbank.com CDs to other accounts. But, the money can only be transferred to other giantbank.com accounts. Those accounts include giantbank.com checking or money market accounts.

Cool Things

Financial Calculators

The giantbank.com website offers financial calculators. They have specific calculators tailored to home purchases, investments, and retirement. You can also see how much to save for college, what car you can afford, and different lease options.

History

giantbank.com started in 1999 as an online division of Centennial Bank. There are no physical locations for giantbank.com. Because of this, the interest rates on their accounts are competitive. giantbank.com offers an interest earning checking account, money market account, and CDs. People across the United States can apply for an account with giantbank.com.

Frequently Asked Questions

Is giantbank.com FDIC insured?

Yes. giantbank.com is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.

How many different terms does giantbank.com offer?

giantbank.com offers seven CD terms. The terms range from 91-days to 60-months.

What is the required amount to open a CD with giantbank.com?

All the giantbank.com CD terms require $2,500 to open.

How do I deposit money into giantbank.com CDs?

Deposit money into giantbank.com CDs through checks or wire transfers. Customers can transfer money electronically from other giantbank.com accounts.

How do I access my money?

Transfer money into another giantbank.com account. You can request a cashiers check mailed to you or a wire transfer. The wire transfer does have a fee.

Do I have to open other giantbank.com accounts before I can open a CD?

No. You can open a giantbank.com CD online without having to open any other accounts. To transfer money to or from the CD you must have another giantbank.com account.

Do giantbank.com CDs offer competitive interest rates?

The interest rates are competitive, but slightly lower than other online accounts. The short-term CDs offer interest rates lower than other online CDs. The short-term CD rates are still higher than typical bank accounts.

Can I choose how to receive my interest payments from giantbank.com CDs?

Yes. You can choose to add the interest to the CD. You can also have interest transferred into another giantbank.com account. Those accounts include a checking or money market account.

What percentage am I charged if I withdraw money before the maturity date?

If the CD term is 30-days to 12-months, the fee is six-months of interest. For terms longer than 12-months, the fee is nine-months of interest.

How do I make changes during the grace period?

Contact customer services to make changes. If you wish to redeem your CD, sign the certificate and mail it back to customer service.

How will I know my giantbank.com CD is nearing maturity?

giantbank.com gives you a certificate when you open the CD with all the information. The maturity date is listed on that paper.

How long is the grace period between renewal?

The grace period is ten days after the CD reaches maturity.

Are giantbank.com CD rates guaranteed for the entire term?

Yes. The rates are determined on the day you open and fund your account. The rate on that day are the rates for the term life of the CD.

Does giantbank.com offer mobile banking?

There is no specific app listed on the giantbank.com website.

Is giantbank.com a good bank?

They offer a good variety of CD terms. The opening required amount is relatively low. The interest rates for CDs are not tiered. They are competitive rates, but lower than other online accounts. The rates are more competitive that typical bank rates.

Is giantbank.com secure online?

giantbank.com encrypts personal information. They offer security measures that comply with federal laws. Their computers have safeguards. Their files and buildings are secure.

What is the shortest giantbank.com CD term offered?

The shortest term available through giantbank.com is a 91-day term.

What is the longest giantbank.com CD term offered?

The longest term available through giantbank.com is a 60-month term.

Does giantbank.com offer accounts other than CDs?

Yes. They also offer a checking and money market account.

Can I use giantbank.com CDs for my business accounts?

Specific business accounts are not listed on the website.

How do I reach customer service?

Reach giantbank.com customer service through mail, email, phone, or fax. Customer service is only open Monday through Friday.

Bank Contact Information

giantbank.com
P.O. Box 100970
Ft. Lauderdale, FL 33310-7899
(877) 446-4200

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Favorite Rates

Sallie Mae
1 Year CD 05/16/2021
APY 0.45%
Rate 0.45%
For APY $2,500
Monthly Fee $0.00
Checkbook Yes
Guaranteed Returns. FDIC-insured peace of mind.
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