Which banks have no minimum deposit for CDs?

Ally Bank, Capital One, and Synchrony Bank are the major FDIC-insured banks that offer CDs with no minimum deposit. You can open a CD with any amount. Most online banks have minimums under $500.

What is the minimum deposit for a CD?

CD minimum deposits range from $0 to $10,000+ depending on the bank. Online banks typically have low minimums ($0-$1,000) while traditional banks and jumbo CDs require $1,000-$100,000.

Can I open a CD with $500?

Yes. Many major banks allow CDs with $500 or less. Marcus by Goldman Sachs has a $500 minimum, while Ally Bank and Capital One have $0 minimums. Shop online banks for the lowest minimums combined with competitive rates.

CD Minimum Deposit by Bank 2026: Which Banks Have the Lowest Minimums?

Q: Is a jumbo CD worth it?

Jumbo CDs (typically $100,000+) often offer slightly higher rates than standard CDs, but the difference has narrowed considerably. Compare the rate premium vs. the benefit of keeping money at a single institution and FDIC limits.

CD minimum deposit requirements vary widely — from $0 at some online banks to $10,000+ for jumbo CDs. The minimum determines whether you can afford to open a CD and affects your CD laddering options.

CD Minimum Deposits: Quick Comparison (2026)

Bank	CD Minimum	1-Year APY	Type
Ally Bank	$0	4.40%	Online
Capital One	$0	4.20%	Online
Synchrony Bank	$0	4.55%	Online
Barclays	$0	4.40%	Online
Marcus by Goldman Sachs	$500	4.65%	Online
CIT Bank	$1,000	4.75%	Online
Bask Bank	$1,000	4.95%	Online
Bread Savings	$1,500	5.00%	Online
LendingClub	$2,500	5.10%	Online
Discover Bank	$2,500	4.60%	Online
Popular Direct	$10,000	4.80%	Online
Chase Bank	$1,000	0.50–1.00%	Traditional
Bank of America	$1,000	0.03–0.05%	Traditional
Wells Fargo	$2,500	0.25–1.50%	Traditional
Citibank	$500	0.05–4.50%	Traditional
US Bank	$500	0.05–4.60%	Traditional
PNC Bank	$1,000	0.01–4.50%	Traditional

Online Banks with $0 CD Minimums

Ally Bank

Feature	Details
CD minimum	$0
1-year APY	4.40%
5-year APY	4.00%
Early withdrawal penalty	60–150 days interest
No-penalty CD	Yes — 11 months at 4.15%
Grace period at maturity	10 days
Best for	Lowest minimum + competitive rates

Capital One

Feature	Details
CD minimum	$0
1-year APY	4.20%
5-year APY	3.90%
Early withdrawal penalty	3–12 months interest
No-penalty CD	Yes — 9 months at 4.00%
Grace period at maturity	10 days
Best for	No minimum + physical branches

Synchrony Bank

Feature	Details
CD minimum	$0
1-year APY	4.55%
5-year APY	3.70%
Early withdrawal penalty	90–365 days interest
Bump-up CD	Yes
Best for	No minimum + higher-than-average rates

Low-Minimum Online CDs ($500–$1,500)

Marcus by Goldman Sachs

Feature	Details
CD minimum	$500
1-year APY	4.65%
5-year APY	3.75%
Early withdrawal penalty	90–365 days interest
No-penalty CD	Yes — 11 months at 4.40%
Best for	Low minimum + consistently competitive rates

CIT Bank

Feature	Details
CD minimum	$1,000
1-year APY	4.75%
5-year APY	4.05%
Early withdrawal penalty	3–12 months interest
No-penalty CD	Yes — 11 months at 4.55%
Best for	Slightly higher rates + low minimum

Bread Savings

Feature	Details
CD minimum	$1,500
1-year APY	5.00%
5-year APY	4.15%
Early withdrawal penalty	90–365 days interest
Best for	Highest available rates, modest minimum

Traditional Banks: CD Minimums and Rates

Traditional banks have higher minimums and much lower rates than online competitors:

Bank	Minimum	1-Year APY	Rate vs. Online
Chase	$1,000	0.50–1.00%	75–85% lower
Bank of America	$1,000	0.03–0.05%	98% lower
Wells Fargo	$2,500	0.25–1.50%	60–90% lower
Citibank	$500	0.05–4.50%	Widely varies by product
US Bank	$500	0.05–4.60%	Varies by promotion

Note: Traditional bank CD rates shown are for standard products. Promotional or step-rate CDs may differ. Always verify current rates before opening.

Jumbo CDs: $100,000+ Requirements

Jumbo CDs require a large minimum deposit but don’t always offer meaningfully better rates:

Bank	Jumbo Minimum	Jumbo 1-Year APY	Standard 1-Year APY	Premium
Discover	$100,000	4.65%	4.60%	+0.05%
Bread Savings	$100,000	5.05%	5.00%	+0.05%
EverBank	$100,000	4.85%	4.75%	+0.10%
Citibank	$100,000	4.55%	4.45%	+0.10%

Is a jumbo CD worth it? For most people, the 0.05–0.10% rate premium on a jumbo CD is minimal. On $100,000 at a 0.10% premium, the extra earnings are just $100/year. Better to compare standard CD rates across banks and pick the highest-paying one.

FDIC Insurance Limits

Situation	Coverage
Single account at one bank	$250,000
Joint account (2 owners)	$500,000 combined
Accounts at different banks	$250,000 each
IRA CD at same bank	$250,000 separate from non-IRA

If you have more than $250,000 to deposit in CDs:

Split between two FDIC-insured banks to maintain full coverage
Or use Treasury bills (no FDIC limit needed — government-backed)

Early Withdrawal Penalties by Bank

Bank	12-Month CD	24-Month CD	60-Month CD
Ally	60 days interest	90 days	150 days
Capital One	6 months interest	6 months	12 months
Marcus	270 days interest	270 days	365 days
Bread Savings	180 days interest	180 days	365 days
CIT Bank	3 months interest	6 months	12 months
Synchrony	90 days interest	180 days	365 days
Discover	6 months interest	9 months	18 months

Ally has the lowest penalties — good if there’s any chance you’ll need the money early.
Marcus has the highest penalties — be certain you won’t need early access.

How to Choose a CD Bank Based on Your Balance

Balance	Best Option	Why
Under $1,000	Ally, Capital One, Synchrony	$0 minimum
$1,000–$1,500	Marcus, CIT Bank	$500–$1,000 minimum with high rates
$1,500–$10,000	Bread Savings, LendingClub	Top APYs
$10,000+	Compare Bread, LendingClub, Popular Direct	Best rates with minimum met
$100,000+	Spread across banks or use T-bills	Stay within FDIC limits

See the full CD guide for best rates by term, laddering strategies, and CD comparisons.

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy