The Comenity Direct CDs offer competitive interest rates on each of their CD terms. The interest rates are competitive with other online accounts. These rates are much higher than typical bank rates. The rates are not tiered. Any amount over $1,500 earns competitive rates.

Comenity Direct encourages CD laddering. CD laddering is when you open one five-year CD each year. Your money earns competitive interest rates offered by five-year CDs. By opening one each year, one renews each year. This allows you access to your money every year without an early withdrawal penalty.

The CDs with Comenity Direct have low opening required amounts. They each need only $1,500 to open. Once you fund the CD, your money starts earning interest immediately.

Each of the CDs offered through Comenity Direct can be opened online. This is an entirely online bank. You open your account online and take care of all your banking needs online. They offer a website as well as a mobile app to access your accounts.

The opening required amount to fund Comenity Direct CDs requires $1,500. This amount must be deposited in one transaction. You cannot make that deposit through multiple transactions.

Comenity Direct offers online CDs. There are limited CD terms available. They offer one, two, three, four, and five-year terms. Open each of the Comenity Direct CDs entirely online.

The Comenity Direct CDs do not offer an interest rate guarantee. The interest rates on each of the CDs are competitive. But, if the rates increase shortly after opening the CD, your interest rates will not increase.

Customer service hours for Comenity Direct are not 24/7. They do offer extended customer service hours. They are open on weekdays from 7 a.m. to 11 p.m. and weekends from 9 a.m. to 5 p.m. You can call customer service or send an email. There are no branch locations.

Read the full Comenity Direct review.

All Ally high yield CDs do not have a required amount to open the account. You can open each of the CDs with any amount. The Raise Your Rate CDs and the No Penalty CD do not have a set amount required to open.

Ally CDs offer competitive interest rates. The rates are competitive with other online CD accounts. The interest rates for Ally CDs are much higher than typical bank rates.

There are a wide variety of CDs offered through Ally. They offer seven high yield CDs. Those terms range from three months to five years. Ally offers a Raise Your Rate CD. These CDs are available in two-year and four-year terms. They also offer a No Penalty CD. This CD is an eleven-month term.

Ally offers a Ten-Day Best Rate Guarantee for each of the different CDs. When you open your CD, you have ten days. If interest rates go up within that time, so does your interest rate for the CD. The best rate guarantee is also available when you are renewing your CD.

The No Penalty CD has high opening amounts to earn the most competitive rates. Balances under $5,000 earn the lowest rates. To earn the most competitive rate for the CD requires a minimum opening balance of $25,000. Balances over $5,000 but less than $25,000 receive an interest rate between the two rates.

Interest earned from Ally CDs is generally credited annually. If your CD is a one-year term or less, they credit your interest at the CD maturity. If your CD term is longer than one year, they credit your interest at your CD terms year-end. You can make some changes to your CDs through the Ally website.

Some Ally CD accounts have tiered interest rates. To earn the most competitive interest rate for your account requires a balance of $25,000. There is not a required amount to open these CDs, but the higher the account balance, the higher the rate you earn.

The Ally No Penalty CD allows you to withdraw your money anytime after the first six days. You cannot make a partial withdrawal of the funds. If you are going to withdraw the money, you must withdraw the entire CD balance.

Read the full Ally Bank review.