Each of the ableBanking CDs has low opening required amounts. All the terms only require $1,000 to open. The CD terms available range from six months to four years.

The ableBanking CDs offer competitive interest rates. The rates are competitive with other online CDs. They are higher than the typical bank rates.

ableBanking CDs require $1,000 to open, but only $500 to earn competitive interest rates. The CD rates are not tiered. Any balance over $500 earns the competitive rates.

You can open ableBanking CDs online. ableBanking is an online division of Northeast Bank. Because of this, you open your accounts and access your accounts entirely online. You do not need to visit a branch location to open an account.

There are five CD terms offered through ableBanking. They offer six-month, one, two, three, and four-year CDs. These are the only CD terms available through ableBanking.

The ableBanking CDs do not offer an interest rate guarantee. If CD rates increase shortly after you open your account, your rates will not increase. The interest rates for each CD term are competitive.

ableBanking is an online bank. To transfer money into your account, you must link another account. This account can be the ableBanking money market account or an external account. Once you link the accounts, you can transfer money. Only one external account can be linked to an ableBanking account at a time.

The only time you can add money to ableBanking CDs is when you open the CD and once the CD reaches maturity. They do not offer CDs that you can add money to at any time. ableBanking does not accept cash deposits. Only electronic, wire, or check deposits are accepted.

Read the full ableBanking review.

Each Popular Direct CD offers competitive interest rates. The rates are competitive with other online accounts. The terms are shorter than 12-months offer competitive interest rates as well. Popular Direct interest rates are much higher than typical bank interest rates.

There are a good variety of CD terms offered through Popular Direct. The terms range in length from three-months to five-years. There are eight CD term lengths in all. You can open any of these CD terms online.

If you have a question and need to contact customer service, they are available anytime. Customers can reach a customer service representative every day, all day. Their customer service phone line is open 24 hours a day, seven days a week. You can also contact customer service through email or mail.

The process of opening Popular Direct CD terms is entirely online. It takes around ten minutes to complete the application for a new CD account. Once you successfully open an account, everything for your account is online. Access your accounts from anywhere, anytime.

Popular Direct CDs have a high set amount required to open their CDs. The requirement is $10,000 to open each CD term. If you do not have at least the $10,000 balance, you cannot open a Popular Direct CD.

The fee for withdrawing money from Popular Direct CDs before the maturity date is high. For terms less than 91 days, the fee is 89 days of interest. For terms greater than 91 days, but shorter than 12-months, the fee is 120 days of interest. The fee for terms longer than 12-months, but shorter than 36-months, is 270 days of interest. For terms from 36-months to 60-months, the fee is 365 days of interest. Terms 60-months or longer has a fee of 730 days of interest.

Some CDs allow you to withdraw interest earned on CDs without paying an early withdrawal fee. Popular Direct does not. They do not allow for withdrawals of the CD principal or the interest earned without paying a fee. You can only make withdrawals without a fee during the grace period.

There is only one way to fund your Popular Direct CDs. Customers must link each CD to an external bank account. When you open a CD, you must make the deposit from a linked external account. This is part of the account opening process. Once the accounts are linked, you can make electronic transfers into your CD. To avoid a fee, only transfer money when you first open the account and during the grace period.

Read the full Popular Direct review.