The Banesco USA BaneSmart CDs offer competitive interest rates. These rates are much higher than typical bank rates. Banesco USA CDs offer rates competitive with other online CDs.

The Banesco CDs have low opening required amounts. The amounts range from $1,000 to $1,500 depending on the account. You must keep these balances in your CD accounts to earn competitive interest rates.

You can open each BaneSmart CD term online. The application is on the Banesco USA website. You do not need to visit a branch location.

There are options on how and when you receive your interest payments. You can choose to receive BaneSmart CD interest payments monthly, quarterly, or semi-annually. You can also choose to receive the interest when the CD reaches maturity. You can deposit interest earnings into any Banesco USA accounts.

There are limited BaneSmart CD terms available through Banesco USA. The terms range from six to 36-month CDs. There are a total of five CDs available online. More CD terms may be available at a branch location.

The BaneSmart CDs do not offer an interest rate guarantee. If the interest rates increase shortly after you open your CD, your rates will not increase. The interest rates for BaneSmart CDs are competitive. But, there is not a guarantee if the rates increase.

Banesco CD terms longer than 12-months have limits on interest payments. The annual percentage yield cannot stay in the account. A payout is necessary. Withdrawing the money before the CD reaches maturity will result in a fee. Contact customer service for more information on this matter.

There are limited ways to fund your BaneSmart Banesco CD. To initially fund your CD, you need to mail in a check. The CD terms range from six to 36-months.

Read the full Banesco USA review.

The interest rates for Colorado Federal Savings Bank CDs are competitive. Their interest rates are competitive with other online CD rates. CFSB interest rates are much higher than typical bank rates. Each of the CD terms offers competitive interest rates.

The penalty for withdrawing money from your CFSB CD before the maturity date is low. Most CDs have a penalty for withdrawing money before the maturity date. Colorado Federal Savings Bank fees are much lower than other bank fees. For terms less than six months, the fee is one month of interest. Terms from six to twelve months require three months of interest. For terms longer than twelve months, the penalty is only six months of interest.

Colorado Federal Savings Bank offers a good variety of CD terms. The shortest terms available is a one-month CD. The longest term offered from CFSB is a five-year CD. They offer a total of nine different CD terms between these two CD lengths. These CDs are for consumer accounts.

Colorado Federal Savings Bank is an entirely online bank. There are no branch locations. You apply for an account online and access your accounts online. They offer consumer CDs as well as an online savings account. CFSB also offers some lending options. Each of these services is online. You must open accounts online. You cannot apply for an account through the mail or in person.

Because CFSB is an entirely online bank, to open an account, you must enroll in online banking. This is how you will access all CFSB accounts. With online banking, you can see your account balances and account history. You can transfer money between CFSB accounts and to external bank accounts. You must receive your statements online.

The amount required to open any of the Colorado Federal Savings Bank CDs is high. Each CD term requires $5,000 to open. You must keep at least $5,000 in the account to earn interest on the CDs. If your balance drops below the $5,000, CFSB may close your account.

You must link your Colorado Federal Savings Bank CD to an external bank account. When you decide to close your account, CFSB will not send you a check for the amount from the account. To receive your money from the closed CD, CFSB transfers the money back into your linked account.

The CDs with Colorado Federal Savings Bank does not offer an interest rate guarantee. They offer competitive interest rates, but the rates you receive when you open the CD is the rate for the CD term. If the interest rates increase shortly after you open the CD, you will not receive a higher rate.

Read the full Colorado Federal Savings Bank review.