The set amount required to open Marcus CDs is low. Each CD term only requires $500 to open. Marcus CD offers competitive interest rates. The rates are competitive with other online CDs and much higher than typical bank rates. To earn interest on your Marcus CDs, you must keep $500 in the account. You will not earn interest until your CD has a balance over the $500 minimum.

Marcus offers a ten-day interest rate guarantee. Once you fund your account with the minimum deposit, you have ten days to watch the rates. If the rates increase in those ten days, Marcus locks in the highest interest rate.

Interest earned on Marcus CDs is automatically added to the principal amount of your CD. There are other options if you wish to receive interest in another way. You can have the monthly interest transferred to a Marcus online savings account. You can also transfer the money to an external linked account. You can withdraw the earned interest anytime during the CD term without a penalty.

Marcus offers a No-Penalty CD. This CD requires $500 to open. Once the account has been opened for seven days, you can withdraw your money at any time during the CD term. You will not be charged a fee for withdrawing your money before it reaches maturity. You cannot add additional funds to the No-Penalty CD.

You can withdraw money from the No-Penalty CD without a fee, but you cannot make a partial withdrawal. If you want to withdraw the money, you must withdraw the entire balance. This includes all the interest you have earned. You can withdraw the money after the account is open for seven days. You can only make a withdrawal one time during the term life of the CD. Once you withdraw your money, the account will close.

Marcus CDs terms less than 12-months do not offer as competitive of rates as the other CDs. The six-month and nine-month terms still offer competitive rates. Their rates are just not as competitive as the other CD term rates. These rates are still much higher than typical bank rates of the same terms.

The No-Penalty CDs offered through Marcus comes in limited term lengths. There are only three terms offered for the No-Penalty CDs. Those terms are a seven-month term, an 11-month term, and a 13-month term.

To make electronic transfers into your Marcus CDs requires linking another account. You can link a Marcus CD to a Marcus online savings account. You can also link your Marcus CD to an external account. Once you link the accounts you can transfer money electronically to fund the account. You can also have the earned interest transferred into the linked account.

Read the full Marcus by Goldman Sachs review.

The opening amount required for Zions Bank CDs is low. Each of the standard CD terms requires $1,000 to open. The IRA CD accounts also require $1,000 to open. The jumbo CDs require $100,000 to open.

There are a good variety of CD terms available through Zions Bank. The CD terms range from one month to five years. They include standard, IRA, and jumbo CDs. The CD term lengths are the same for the different CD types.

The early withdrawal penalties for Zions Bank CDs are low. If you withdraw money from terms 31-days or less, the fee is all the interest earned. If the term is from 32-days to one-year, the fee is 90 days of interest. For all terms longer than one year, the fee is 180-days of interest.

You can set up your Zions Bank CDs to renew automatically. If you select this option, your CD will renew at maturity. The interest rate for the renewed CD are the interest rates offered at the time of renewal. Contact customer service to set up automatic renewal.

You cannot open Zions Bank CDs online; you must visit a branch location. Branch locations are listed on their website. Once you open a CD in a branch location, you can access your CD and other accounts online.

The interest rates for Zions Bank CDs are lower than other online CD rates. To earn the highest interest rates requires a balance of at least $100,000. The highest rates are just higher than the standard rate. Even the highest rate is lower than online CD rates.

The interest rates for Zions Bank CDs may change based on your location. To know the correct rates for your area, input your zip code on the Zions Bank website. You can also call customer service or visit a branch location.

The short-term CDs with Zions Bank offer low interest rates. These rates are not competitive with other online CDs of the same term length. These term lengths include a one, three, six, and nine-month CDs. The interest rates increase with terms 12-months or longer.

Read the full Zions Bank review.