You can open all CalFirst CDs terms online. You can complete the entire application through the CalFirst website. There is also the option to apply by calling customer service or mailing in an application.

The shorter-term CDs offer more competitive rates than long-term CDs. The rates are more competitive with online CDs than long-term CDs. The short-term CDs include a three month and six-month term.

Customers can choose how to receive interest payments. You can have the money credited to your CD or another CalFirst account. You can have the money transferred into another bank account, or have the interest mailed to you in a check. Interest will credit to your account monthly.

Customers can choose how to receive interest payments. You can have the money credited to your CD or another CalFirst account. You can have the money transferred into another bank account, or have the interest mailed to you in a check. Interest will credit to your account monthly.

The initial amount required to open CalFirst CDs is high. Each of the standard CD terms requires $5,000 to open. You must keep that amount in the CD to earn interest. To open IRA CDs and earn interest requires a balance of $2,000.

There is a limited amount of CD terms offered through CalFirst. There are five CD terms available. Those terms range from three months to three years. CalFirst provides CD terms as standard CDs or IRA CDs. All terms can be opened online.

CalFirst CD interest rates are low. They are not competitive with online CD rates. These rates are competitive with typical bank rates. CalFirst rates are not tiered. Any balance over the opening amounts earns the rates listed on the website.

There are only two early withdrawal fees for CalFirst CDs. For terms less than one year, the fee is 90-days of interest. For CD terms 12-months or longer, the fee is 180-days of interest. If you withdraw money early, you must pay that amount of interest even if you have not earned it.

Read the full California First National Bank review.

The interest rates for TIAA Bank CDs are competitive. Each of the term interest rates is competitive with other online CD accounts. TIAA rates are much higher than typical bank rates. Their CD rates are not tiered. Any account balance earns competitive rates.

TIAA Bank offers a wide variety of CD terms. Their terms range from three-months to five-years. They offer the basic CD terms between these times, but they offer a nine-month term and a 30-month term as well. TIAA Bank also offers a 42-month Bump Rate term.

TIAA Bank offers on Bump Rate CD. This CD term is a 42-month term. This CD only requires $1,500 to open. If interest rates increase during the CD term, you have the option to bump up to the new interest rate. You can bump up the interest rate once during the CD term. Customers can only have one Bump Rate CD opened at a time.

TIAA guarantees their interest rates earned are in the top five percent of the most competitive accounts. Each week TIAA reviews the rates of competitors. Based on their findings they adjust their rates to make sure they are competitive with the best.

The TIAA Bank high yield CDs have a high opening required amount. Each of these CDs terms require $5,000 to open. TIAA Bank offers the option of CDARS. This is if you want to invest an amount over the FDIC insured limit of $250,000 and still be insured. To open a CDARS CD requires an opening deposit of $10,000.

TIAA Bank offers high yield and regular CDs. The regular CD account interest rates are slightly lower. They are not as competitive as the high yield interest rates. The high yield accounts earn high rates but require a higher opening amount.

The early withdrawal penalty for CDs is high. The Bump Rate CD charges 318 days of interest if you withdraw money before the maturity date. The six-month CDs require 45 days of interest. The 18-month CDs require 136 days of interest. The five-year CDs require 456 days of interest. Other early withdrawal fees vary depending on the CD term.

Once you open a TIAA CD, you cannot make deposits into the CD. The opening deposit is the only deposit allowed until the CD reaches maturity. Contact customer service to decide what happens to your CD once it reaches maturity.

Read the full TIAA Bank review.