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.

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.