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.

Luana Savings Bank offers a good variety of CD terms. The terms range from three-months to five-years. They offer a variety of CD types as well. Along with regular CDs, they offer CDs with rate increases. They also offer a CD specifically for children under 18.

The interest rates for Luana Savings Bank CDs are competitive. Their rates are slightly lower than other online CDs, but still competitive. Luana CD interest rates are higher than typical bank interest rates. Even the shorter-term CDs offer competitive interest rates.

Luana Savings Bank offers a Step Up and Add CD. This CD is available in a 26-month term. The opening required amount is $5,000. Any amount above $5,000 earns the most competitive rate. This is also true for the special nine-month CD. Amounts above $5,000 earns the competitive rate.

Most of the Luana Savings Bank CDs have low opening required amounts. A good portion of the CD terms only require $1,000 to open. The CD for children only requires $500. You must keep the opening required balance in the account to earn interest.

The CDs offered through Luana Savings Bank have tiered interest rates. To earn the most competitive rate, you must have a high account balance. Most of the CD terms require a balance of $100,000 to earn the most competitive interest rate. Lower balances still earn good rates, just not the most competitive.

Luana Savings Bank CDs do not offer an interest rate guarantee. The interest rate on the day you open the account is the rate your CD earns for the life of the term. If interest rates increase shortly after you open your account, your rate will not increase.

The required amounts to open Luana CDs vary depending on the CD term. The regular CD accounts typically require $1,000 to open. A few special CDs require $5,000 to open. The CD for kids requires $500 to open. These amounts are required to open the CD. To earn the best rate requires a much higher balance.

You can apply for Luana Savings Bank CDs online, but the process takes some time. To apply for a CD, you fill out the necessary information. The paperwork is then submitted to a Luana employee. They will contact you within one business day to discuss your application.

Read the full Luana Savings Bank review.