VirtualBank offers online CD accounts. Each term offers competitive interest rates. The rates are competitive with other online CDs. VirtualBank interest rates are much higher than typical bank rates.

Even the shorter-term CDs offer competitive interest rates. These rates are very competitive compared to other short-term CDs.

There are a good variety of CD terms offered through VirtualBank. They offer CD terms from one month to 60-months. There are a total of 11 CD terms. All the CD terms are online accounts. You can apply online or send your application through the mail.

VirtualBank encourages CD laddering. They have a CD laddering calculator on their website. With the calculator, you can see how much interest you would earn by CD laddering. CD laddering is opening different CD terms, so your CDs mature at a variety of times. This allows you to open longer-term CDs to earn higher interest rates, but still, have access to your money.

There are options for how to receive the interest you earn on VirtualBank CDs. When you open the account, you can choose to have the interest credited monthly or quarterly. Credited the money back to the CD or you can transfer the money into another VirtualBank account. You can also choose to have the interest mailed to you in a check.

VirtualBank has a high required amount to open their CDs. Each CD requires $10,000 to open. That amount is high compared to other online CDs. If you have the $10,000 required opening amount, you can open any of VirtualBank CDs.

The CDs offered through VirtualBank are only for personal deposit accounts. At this time, these CDs are not available for business accounts. There are no specific business accounts available through VirtualBank. Only personal deposit accounts are currently offered.

VirtualBank CDs do not offer an interest rate guarantee. The interest rate you earn for the life of your CD term is the rate on the day you open your account. They do not offer an interest rate guarantee. If the interest rates increase shortly after you open your CD, your rate will not increase. VirtualBank CDs offer fixed interest based on the day you open your CD.

Early withdrawal fees for VirtualBank CDs are high. The fees may affect your principal amount. For CDs under one year, the fee is 100 percent of the interest earned on the withdrawn amount. For terms from one year to two years, the fee is one percent of the principal amount withdrawn. For CDs longer than two years, the fee is two percent of the principal amount withdrawn.

Read the full VirtualBank review.

There are a good variety of CD terms available with TAB Bank. The terms range from six months to five years. There are eight total CD terms offered through TAB Bank. You can open any of the TAB Bank CDs online.

Each of the CD terms available through TAB Bank offers competitive interest rates. The rates are competitive with other online CD accounts. These interest rates are much higher than typical bank rates. If you withdraw money or close your TAB Bank CD before the interest credits to your CD, you will not earn the interest.

The CDs offered through TAB Bank have low opening required amounts. Each CD term only requires $1,000 to open. You must keep a balance of $1,000 to earn interest on the CDs. Balances below this amount will not earn interest.

The penalty for withdrawing money before the maturity date for TAB Bank CDs is low. For CD terms 12 months or less, the fee is 90 days of interest on the withdrawn amount. For CDs greater than 12 months, the fee is 180 days of interest on the withdrawn amount.

TAB Bank does not offer an interest rate guarantee. The interest rates on the day you open the CD is the rate you receive through the life of the CD term. If the interest rates increase shortly after you open the CD, you will not receive a higher rate.

TAB Bank offers a mobile app. The app is for checking and savings accounts. You can make transfers between these two accounts, but not to CD accounts.

Some of the interest rates for TAB Bank CDs may be promotional. The disclaimer says the offer is good on new CDs only. Check with customer service to see what interest rates are promotional to new CDs only.

TAB Bank is an online bank. Customer service is not available 24/7. They have specific hours. You can reach customer service through phone, email, or mail. Their hours are Monday through Friday from 6 a.m. to 7 p.m. MT. They are open on Saturday from 9 a.m. to 3 p.m. MT. You can follow TAB Bank on Facebook, Twitter, LinkedIn, YouTube, and Instagram.

Read the full TAB Bank review.