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Home Savings Bank VS

Which bank is better for you?

  • Financial Rates: 5.0 Star Icon
  • Customer Service: 3.0 Star Icon
  • Variety of Terms: 5.0 Star Icon
  • Required Opening Amount: 3.0 Star Icon
CD Account
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  • Good variety of CD terms available
  • Competitive interest rates on CDs
  • CDs renew automatically
  • Early withdrawal fees low


  • High opening required amounts
  • Must schedule CD closure before maturity
  • All banking needs must be done online
  • Does not offer interest rate guarantee
  • Financial Rates: 4.0 Star Icon
  • Customer Service: 2.0 Star Icon
  • Variety of Terms: 5.0 Star Icon
  • Required Opening Amount: 4.0 Star Icon
No Rate Information
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  • Most accounts offer competitive rates
  • Good variety of CD terms offered
  • Can apply through mail or online
  • Opening required amount is low


  • Short-term CDs have low rates
  • Limited ways to fund CDs
  • Customer service has limited hours
  • Transfer interest to internal accounts
Home Savings Bank CD Review

Home Savings Bank offers a good variety of CD terms. They offer online only terms for those who do not live by a branch location and in-branch terms for those who do. There are a total of seven different CD terms for each type. The terms range from six-months to 60-months.

The CDs with Home Savings Bank offer competitive interest rates. The rates are much higher than typical bank rates. They are competitive with other online CD rates. Even the short-term CDs offer rates competitive with other short-term online CDs.

Home Savings Bank CDs will automatically renew after the CD reaches maturity. If you wish to keep your money in your Home Savings Bank CD, you do not have to contact customer service. The CD will automatically renew to the same CD term length. The rate will be determined on the day the CD renews.

The early withdrawal fees are low compared to other online CD accounts. For terms from six-months to 15-months, the fee is three months of interest on the withdrawn amount. For terms longer than 15-months, the fee is six-months of interest on the withdrawn amount.

The opening required amounts for Home Savings Bank CDs are high. Each CD term requires $5,000 to open. You can open any of the CD terms online with this set required amount. You must keep $5,000 in the CD to earn interest.

You cannot close your Home Savings Bank CD during the grace period. You must specify you want to close the account before the CD reaches maturity. You can set up to close your CD 30 days prior to the CD maturity date up to the day before maturity. Upon maturity, the money transfers into the initial account the money transferred from. Set up CD closure through online banking.

Home Savings Bank has specific online accounts. All activity for those accounts must be through online banking. Those activities include opening and closing CDs and all inquiries about the accounts. There is a $10 fee per transaction if any of this activity is done in a branch location.

Home Savings Bank does not offer an interest rate guarantee. The interest rate on the day you open the account is the rate you receive for the CD term. If the rates increase shortly after you open the CD, your interest rate will not increase.

Read the full Home Savings Bank review. CD Review

Most CDs offer competitive interest rates. The rates for some CDs are competitive with other online accounts. All of the CD rates are higher than typical bank rates. The CD terms that are 12-months and longer offer the most competitive interest rates.

There are a good variety of CD terms available. The terms range from 91-days to 60-month CDs. There are seven different terms offered through You can apply for any of these CD terms online.

There are two options on how to open a CD with You can apply for the CD online or fill out an application and send the application back through the mail. If you open the CD online there is a maximum opening amount of $50,000.

The opening required amount for CDs are low. Each of the CD terms requires $2,500 to open. You must keep a balance of at least $2,500 in the CDs to earn interest. Any amount over the required balance earns a competitive interest rate. The interest rates are not tiered.

The short-term CDs do not offer as competitive interest rates as the longer-term CDs. The 91-day, six-month, and nine-month CDs do not offer as competitive rates. These rates are still competitive. The rates are just not as competitive as the other terms. limits the ways you can initially deposit money into CD accounts. Those ways include mailing in a check or a wire transfer. You can also transfer money from another account. The website does not say you can make the initial transfer from an external bank into a CD. is an online bank. You can contact customer service through email, mail, phone, or fax. Customer service does have limited hours they are open. They are available Monday through Friday from 9 a.m. to 6 p.m. EST.

Customers can transfer the interest earned on CDs to other accounts. But, the money can only be transferred to other accounts. Those accounts include checking or money market accounts.

Read the full review.

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