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.

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.