Vio Bank offers a wide variety of CD terms. There are 11 different CD terms available through Vio Bank. The terms range from 6-months to 120-months. Each of the CD terms can be opened online. You must be 18 years or older to open an account with Vio.

The Vio Bank CDs offer competitive interest rates. The rates are competitive with other online accounts. They are much higher than typical bank rates. Each term offers rates competitive with other online CDs of the same term length. Vio Bank regularly monitors interest rates. This helps to ensure their rates are competitive with national rates.

The amount required to open Vio Bank CDs is low. Each CD only requires $500 to open. You can open any of the CDs online, with that set amount. With the required opening amount, you will earn the competitive interest rates on the CD.

When you open a CD with Vio Bank, you can choose how often and how to receive earned interest. Choose how often your interest credits to your CD. There may be options on what account to have the interest credit to as well. If you close your account before the interest credits, you will not receive your earned interest.

Vio Bank CDs are not eligible for fund transfers. Only the savings accounts are eligible for the fund's transfer. If you try to transfer funds to or from your Vio Bank CD, you will receive an error message.

To withdraw money from the CDs before the maturity date has a set penalty and a fee for terms longer than 31 days. For terms 31 days or shorter, the penalty is all the earned interest on the withdrawn amount. For terms from 32 days to 12 months, the penalty is one percent on the withdrawn amount and a $25 fee. For terms longer than 12-months, the penalty is three percent of the withdrawn amount and a fee of $25.

Vio Bank does not offer an interest rate guarantee. The rate on the day you open your Vio Bank CD is the rate you earn for the life of the CD term. If the rates increase shortly after opening your account, your CD rate will not increase.

Vio Bank is an entirely online bank. Customer service has specific hours and ways to contact them. Reach a representative through phone, email, or mail. Vio does offer extended customer service hours. But, a representative is not available anytime.

Read the full Vio Bank review.

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.