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Home Savings Bank VS TIAA Bank

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: 5.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Variety of Terms: 5.0 Star Icon
  • Required Opening Amount: 4.0 Star Icon
No Rate Information
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  • Competitive interest rates
  • A wide variety of CD terms
  • Bump Rate CD
  • Yield interest rates guaranteed


  • High opening amounts for some CDs
  • Basic CDs offer lower interest rates
  • High penalty for early withdrawal
  • Cannot make deposits after opened
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 For terms from six-months to 15-months, the fee is three months of interest on the withdrawn amount. For terms longer than 15-months, the fee is six-months of interest on the withdrawn amount.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.

TIAA Bank CD 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.

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