Quontic Bank CDs rates
- 1-year APY
- 4.00%
- 36-month APY
- 3.25%
- 5-year APY
- 3.00%
Our verdict
High interest rates across all CD terms.
Quontic Bank only offers five CD terms that range from six months to 5 years. Its interest rates on all its CDs are highly competitive, but you’ll pay a hefty penalty if you need to access your cash before your maturity date.
Overview of Quontic Bank CDs rates
Quontic Bank consistently offers top-of-the-market interest rates on its CD accounts. Your interest is compounded daily, making your money work harder for you. But you’ll need $500 to get started. Although this opening deposit requirement is pretty low for CD accounts, a few banks don’t require any initial deposit.
Here’s what you’ll earn on a Quontic Bank CDs, depending on how long you want to lock away your money
| CD Term | APY | Minimum deposit |
|---|---|---|
| 6 months | 4.25% | $500 |
| 1 year | 4% | $500 |
| 2 years | 3.35% | $500 |
| 3 years | 3.25% | $500 |
| 5 years | 3% | $500 |
More about Quontic Bank’s CDs: Deposits, fees and details
| What it is | Details | Does it matter |
|---|---|---|
| Minimum deposit | $500 | A $500 opening deposit is average for CDs, although some banks offer $0 minimum deposits. |
| Term range | 6 months to 5 years | Quontic Bank offers five common term lengths, but other banks offer as many as 11 term options with CDs as short as 3 months and as high as 7 years. |
| Grace period | 10 days | This is similar to other banks. |
| Cashout and rollover | You’ll receive a Maturity Notice at least 30 days before your maturity date. If you don’t call Quontic Bank during the 10-day grace period to cash out to a bank account or request a check, your CD will automatically renew into a new CD. | Quontic Bank is comparable to other banks. |
Early withdrawal penalties
While it’s free to withdraw your interest, Quontic Bank charges some of the harshest early withdrawal penalties we’ve seen if you withdraw from the principal before your term is up. And if the penalty is more than the interest you’ve accrued, you may lose part of your principal. For example, if you cash out your 6-month or 1-year CD before it matures, part of the fee will come from your initial deposit.
| CD Term | Early withdrawal fee |
|---|---|
| 6 months | 6 months’ worth of interest |
| 1 year | 1 year’s worth of interest |
| 2 years | 1 year’s worth of interest |
| 3 years | 2 year’s worth of interest |
| 5 years | 2 year’s worth of interest |
How Quontic Bank’s CDs and rates compare
Quontic Bank consistently offers top-tier interest rates across all its terms and has a relatively low opening deposit minimum. But its early withdrawal penalties are extremely severe, especially on its shorter CD terms. A CD with Quontic is best for those who are able to open a CD for at least two years or more and have a separate savings account you can pull from in case of emergencies.
Compare Quontic Bank to competitor rates
Narrow down CDs by APY and minimum opening deposit to find the best account for your budget and financial goals. Select Compare for up to four products to see their benefits side by side.
What is the Finder Score?
The Finder Score analyzes hundreds of CDs from more than 100 institutions. It takes into account the product's interest rate for available terms and opening deposit requirements - this gives you a simple score out of 10.
Different banks and credit unions offer CDs for various lengths of time, ranging from as short as seven days to as long as 20 years. For our ratings, we consider the term lengths that the FDIC uses in its monthly updates on national rates.
If a bank or credit union doesn’t offer a CD for a specific term used by the FDIC, we don’t penalize it: Instead, we simply don’t rate it. Each of the standard term lengths has its own APY rating based on the FDIC’s average rates.
CDs ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We rate CDs and share certificates on a scale ranging from one to five stars based on what matters most to you. We consider two factors equally when rating CDs: minimum deposits and annual percentage yields (APYs) relative to term length. If a bank requires a different minimum opening deposit depending on the chosen term, we rate the CD based on the average minimum deposit across all terms. And although some institutions offer CDs with terms ranging from one week to 20 years, we only consider term lengths the FDIC uses in its monthly updates on national rates.
Read the full methodology of how we rate CDs.
Your reviews
Kimberly Finder
Writer
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