What is the minimum deposit for a Santander Bank CD?

Santander's CD page lists a $500 minimum deposit to open a CD and receive the advertised APY. Santander says CDs can only be opened in a branch.

What is the early withdrawal penalty on Santander Bank CDs?

Santander's page lists 90 days of interest on the principal withdrawn for terms of 3 to 12 months, 180 days of interest for 13 to 48 months, and 360 days of interest for 60 months.

What happens when a Santander CD matures?

Santander says the CD automatically renews into the closest term available at the interest rate for that term. You have a 10-calendar-day grace period after maturity to choose a new term and rate, withdraw funds without penalty, add funds, or close the account. Santander says it mails a renewal notice at least 20 days before maturity.

Is Santander Bank only in the Northeast?

Santander's page says its branches are across the Northeast and in Miami, Florida. Santander says the rates shown may not be available outside CT, DE, MA, NH, NJ, NY, PA, RI and select areas of Florida.

Santander Bank CD Rates 2026 — Featured APYs, Minimum and Penalties

Q: What is the current Santander Bank CD rate?

On October 25, 2026, Santander's CD page showed 4.25% APY on an 11-month CD and 4.00% APY on an 18-month CD. Santander says rates are available when the account is opened in a Santander location within the ZIP code entered, rates in other locations may vary, and published rates can change without notice. Santander's page says to speak with a banker about other terms.

Santander Bank’s CD page showed 4.25% APY on an 11-month CD and 4.00% APY on an 18-month CD when we checked on October 25, 2026. A $500 minimum deposit is needed to open one and receive the advertised APY, and CDs can only be opened in a branch. Santander says published rates can change without notice and may differ by location, so confirm the rate for your ZIP code before opening.

Santander CD Terms

Feature	What Santander’s page says
11-month CD	4.25% APY (October 25, 2026)
18-month CD	4.00% APY (October 25, 2026)
Minimum deposit	$500 to open
How to open	In a branch only
Additional deposits	Not after opening; allowed on the maturity date or during the grace period
Interest	Calculated on the available daily balance and credited monthly
Grace period	10 calendar days after maturity

Source: Santander’s certificates of deposit page. Rates apply when the account is opened in a Santander location within the ZIP code entered; other locations may vary. The page says to speak with a banker about other terms.

Early Withdrawal Penalties

CD term	Penalty (Santander’s page)
3 to 12 months	90 days of interest on the principal withdrawn
13 to 48 months	180 days of interest on the principal withdrawn
60 months	360 days of interest on the principal withdrawn

Renewal and Grace Period

On the maturity date, a CD automatically renews into the closest term available at the interest rate for that term. During the 10-calendar-day grace period after maturity you can choose a new term and rate, withdraw funds without penalty, add funds, or close the account. Santander says it mails a renewal notice at least 20 days before maturity.

Santander vs. Online Banks

Compare Santander’s APY for your term and ZIP code with online banks before you open, and weigh the branch-only opening. For scale, the FDIC’s national average 12-month CD rate was 1.76% as of October 19, 2026, and Marcus listed 4.40% APY on a 12-month CD (October 15, 2026).

More: Santander Bank

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