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 |
| EverBank | $1,000 | 3.50% (verified Sept. 2026 — confirm current) | Online |
| Bask Bank | $1,000 | 4.95% | Online |
| Bread Savings | $1,500 | 5.00% | Online |
| LendingClub (now Happen Bank) | $2,500 | 5.10% | Online |
| Discover Bank (merged into Capital One, 2025 — not accepting new applications) | $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 months (terms ≤12 mo) or 6 months (terms >12 mo) |
| 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 (merged into Capital One, 2025) | $100,000 (not accepting new applications — confirm status) | 4.65% | 4.60% | +0.05% |
| Bread Savings | $100,000 | 5.05% | 5.00% | +0.05% |
| Citibank | $100,000 | 4.55% | 4.45% | +0.10% |
EverBank has been removed from this table. EverBank’s own rate page (everbank.com/banking/cd, verified September 16, 2026) shows a single $1,000 minimum deposit across all CD terms with no separate jumbo tier or jumbo rate premium — see the $1,000 row above, which reflects EverBank’s actual verified rate (3.50% APY on the 12-month term as of September 11, 2026; rates ranged 3.40%–4.10% by term, with 4.10% on the 7-month term). Discover’s CD business was absorbed into Capital One after Discover’s 2025 merger into Capital One and is no longer offered separately — the jumbo figures above are shown for reference only. Bread Savings and Citibank jumbo figures were not independently re-verified this session — confirm current rates directly with each bank.
Is a jumbo CD worth it? For most people, the 0.05–0.10% rate premium on a jumbo CD (where one exists) 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 | 3 months interest | 6 months | 6 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 |
Corrected September 19, 2026: this table previously listed Discover as a separate active CD provider with its own penalty schedule, and showed an outdated Capital One schedule (6 months / 6 months / 12 months). Discover’s CD business was absorbed into Capital One after Discover’s 2025 merger into Capital One and is no longer offered separately. Capital One’s own published disclosure (capitalone.com/bank/disclosures/cds/online-cds/, verified September 19, 2026) states the penalty is 3 months of interest for terms of 12 months or less and 6 months of interest for terms longer than 12 months — the Capital One row above reflects this.
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 (now Happen Bank) | Top APYs |
| $10,000+ | Compare Bread, LendingClub (now Happen Bank), 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.
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