CD minimum deposit requirements vary widely, from no minimum at some online banks to $10,000 at others. The minimum determines whether you can afford to open a CD and affects your CD laddering options.
CD Minimum Deposits: Quick Comparison
| Bank | CD Minimum | 12-Month APY | Type |
|---|---|---|---|
| Ally Bank | $0 | — (rate not readable when checked) | Online |
| Capital One | $0 | — (rate not readable when checked) | Online |
| Synchrony Bank | $0 | — (rate not readable when checked) | Online |
| Marcus by Goldman Sachs | $500 | 4.40% | Online |
| CIT Bank | $1,000 | — | Online |
| EverBank | $1,000 | 3.50% | Online |
| Bread Savings | $1,500 | — | Online |
| Popular Direct | $10,000 | 4.50% | Online |
Minimums: Ally (“No minimum deposit to open or earn APY”), Capital One (“no minimum deposit required to open or maintain”) and Synchrony (“No minimum deposit”) per their own pages; the others from each bank’s page, read October 15, 2026. APYs as of Marcus October 15, 2026; EverBank October 9, 2026; Popular Direct October 5, 2026. A dash means we did not read a rate. Discover CD accounts are becoming Capital One CD accounts, so Discover is not listed. We did not check CD minimums or rates at traditional banks, so they are not listed.
Banks With No CD Minimum
| Bank | Early withdrawal penalty | Grace period at maturity |
|---|---|---|
| Ally Bank | 30 days of interest under 3 months; 60 days (3–24 months); 90 days (25–36); 120 days (37–48); 150 days (49 or more) | 10 days |
| Capital One | 3 months of interest (terms of 12 months or less); 6 months (longer terms) | 10 days |
| Synchrony Bank | 90 days of simple interest (12 months or less); 180 days (more than 12 but under 48 months); 365 days (48 months or more) | Not checked |
Low-Minimum Online CDs
Marcus by Goldman Sachs
| Feature | Details |
|---|---|
| CD minimum | $500 |
| 12-month APY | 4.40% |
| No-penalty CD | Yes, 7, 11 and 13 months; minimum $500 |
Bread Savings
| Feature | Details |
|---|---|
| CD minimum | $1,500 |
| 18-month APY | 4.75% |
EverBank
| Feature | Details |
|---|---|
| CD minimum | $1,000 on every term |
| 12-month APY | 3.50% |
Jumbo CDs
A jumbo CD is a CD with a very large minimum, often $100,000 or more. We did not find a jumbo tier or rate premium on the pages we read: Bread Savings’ CD page lists only its $1,500 minimum, and EverBank’s shows one $1,000 minimum across terms. Check with a bank before assuming a jumbo CD pays more than its standard CD.
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 | Penalty by term |
|---|---|
| Ally | Less than 3 months: 30 days of interest; 3–24 months: 60 days; 25–36 months: 90 days; 37–48 months: 120 days; 49 months or longer: 150 days |
| Capital One (Discover CDs are becoming Capital One CDs) | 12 months or shorter: 3 months of interest; longer than 12 months: 6 months of interest |
| Synchrony | 12 months or less: 90 days of simple interest; more than 12 but less than 48 months: 180 days; 48 months or more: 365 days |
From each bank’s own pages. We did not find penalty schedules for Marcus, Bread Savings, CIT Bank, EverBank or Popular Direct on pages we could read, so they are not listed; check the account agreement.
How to Choose a CD Bank Based on Your Balance
| Balance | Option | Why |
|---|---|---|
| Under $500 | Ally, Capital One, Synchrony | No minimum deposit |
| $500 to $1,499 | Add Marcus ($500), EverBank or CIT Bank ($1,000) | Minimum met |
| $1,500 to $9,999 | Add Bread Savings ($1,500) | Minimum met |
| $10,000 or more | Add Popular Direct ($10,000) | Minimum met; compare rates |
| Over $250,000 | Spread across banks or ownership categories | Stay within FDIC limits |
See the full CD guide for best rates by term, laddering strategies, and CD comparisons.
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