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Bank5 Connect High-Yield CDs

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APYUp to 4.75% Image
Min. Deposit $500 Image

Last updated on 2024-11-13

Bank5 Connect High-Yield CDs Review

Pros Pros

Low minimum deposit

Convenient online banking

Interest can be withdrawn

Phone support 7 days a week

Deposits 100% insured

Decent yields

Cons Cons

No physical banks

Not available to residents of Massachusetts or Rhode Island

Deposit Details Bank5 Connect CDs APY

  $500 & Above
6 months 4.75% APY
12 months 4.50% APY
15 months 4.25% APY
18 months 3.20% APY
21 months 3.20% APY
36 months 0.85% APY

 

Receive up to 4.75% APY for Bank5 Connect High-Yield Online CD

Receive 3.20% APY for 21 months Online CD

Receive 3.20% APY for 18 months Online CD

Receive 4.25% APY for 15 months Online CD

Receive 4.25% APY for 12 months Online CD

Receive 4.50% APY for 6 months Online CD

Receive 4.75% APY for 3 months Online CD

Minimum deposit of US$500

Interest is compounded and credited monthly

Can withdraw interest anytime during the term after it is credited to your account

Account not available for Massachusetts or Rhode Island residents

No maintainence fees

Deposits are 100% insured, even for amounts over the FDIC limit of $250,000 due to Depositors Insurance Fund (DIF) protection - coverage that starts where FDIC coverage ends

Account will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. You will have a grace period of 10 calendar day(s) after maturity to withdraw the funds without being charged an early withdrawal penalty

A penalty equal to 3 / 6 months interest on the amount withdrawn will be imposed for 6 / 12 or 18 or 21 or 36 months CD

 

Click here to go to Bank5 Connect website for more details

 

About Bank About Bank5 Connect

Bank5 Connect is the online division under BankFive, a community bank that is based in Massachusetts and Rhode Island. Citizens5 connect itself does not have any physical branches. Online banking is available via app and website for all customers.

Bank5 Connect can be contacted via live chat and contact form on their website or app. Customers can also contact them via phone on (855) 552-2655 from Mondays to Fridays 7.30am to 5pm ET, Saturdays 7.30am to 3pm ET and Sundays 11am to 3pm ET

BankFive (and all divisions under it including Bank5 Connect) is a member of FDIC which covers the aggregated deposits of a depositor to up to US$250,000. In addition, all deposits above US250,000 are covered under Depositors Insurance Fund (DIF) protection - coverage that starts where FDIC coverage ends

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