Certificates of Deposit

Name: Certificates of Deposit
Brand: Quontic

Higher Yields Guaranteed returns

Our Highest CD Rate

60 MONTHS

3.00%

Annual Percentage Yield¹

Quontic’s CDs shine with top rates across terms from six months to five years, and the opening minimum of $500 is relatively low compared to other online banks.
- NerdWallet.com

See how much your money could grow with Quontic

$813

Interest Earned

National Average

$450

Interest Earned

Frequently asked questions

How do I open a Certificate of Deposit (CD)?

You can securely open your new CD account online in less than 3 minutes by visiting https://www.quontic.com/banking/savings/certificates-of-deposit/.

Is there a minimum to open a Certificate of Deposit?

The minimum deposit is $500.

How do I fund my Certificate of Deposit (CD)?

To make your initial deposit, you can transfer money from your existing Quontic account, you can transfer money from an external account via ACH, or using Plaid’s technology. Please ensure that you have sufficient funds available to be transferred.

How is my interest calculated?

Interest is compounded daily and credited to your account monthly. Interest is calculated using the daily balance method. This method applies a daily periodic rate to the principal and interest that has accrued in the account each day.

When is interest paid?

You will start earning interest the business day we receive your opening deposit. Interest will be paid once per monthly statement period.

What happens when my CD matures?

We will send you a Maturity Notice before your CD’s maturity date. There is a 10-day grace period during which you may withdraw principal without penalty or renew your CD with the same term. You may also close your CD and open a new one with a different term. The grace period begins on the day after the CD maturity date and runs for ten days (maturity date plus 10 days). To make changes or close your CD, please call us at 1-800-908-6600 during the 10-day grace period. If you do not contact us by the end of the 10-day grace period (and we do not send you a notice of non-renewal), your CD will automatically renew for another term. The interest rate upon renewal will be set at Quontic Banks then-current rate for similar term CDs. The renewal term will begin (retroactively) on the day after the maturity date of the previous CD term. The principal balance for the renewal term will be the total balance in the CD (principal plus the interest that was not previously withdrawn) on the date the CD account is renewed. Your CD will continue to earn the current interest rate during the 10-day grace period. A confirmation will be sent verifying the renewal terms.

Will I receive a confirmation when my CD automatically renews?

Yes, you will receive a confirmation when your CD automatically renews. The confirmation will be sent out after the 10-day grace period concludes.

What fees or penalties are associated with my CD?

The applicable early withdrawal penalties are as follows:

You may not make a partial withdrawal of principal. You cannot withdraw principal from this account prior to the maturity date without our consent. If we consent to the redemption of the certificate of deposit prior to the maturity date, we will close the certificate deposit and impose an early withdrawal penalty. For time deposits up to 12 months, the penalty will be equal to the interest for the full length of the stated term. For time deposits 12 months to under 24 months, the penalty equals one year interest. For time deposits 24 months and over, the penalty equals two years interest. If the accrued interest exceeds the penalty amount, the excess accrued interest over the penalty amount will be paid to you. If the accrued interest is less than the penalty amount, a reduction of the principal balance may result.

Can I add additional funds to a CD once it's been opened?

No, but you can open another CD at the then-current Quontic Bank rate!

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With Quontic, you’re more than just an account number. You’re a partner on our mission. As a CDFI, we’re the bank that helps bring the dream of homeownership to low-income families, immigrants, people of color, small business owners, and others who are unable to obtain mortgage financing through traditional lenders. Feel good about who you bank with.

Disclaimer:

Ask for or details. Additional terms, conditions, fees & exclusions may apply. If the account is closed before interest and/or bonus is credited, accrued interest and/or bonus may be forfeited for that statement cycle. Fees could reduce earnings. In order to sign up for online banking, you must have a Quontic Bank account. Mobile banking requires enrollment through online banking. Data connection required. Wireless carrier fees may apply. There is no charge from Quontic Bank for account alerts, but message & data rates may apply. Mobile check deposit is available for select mobile devices. Subject to eligibility & further review. Deposits are subject to verification & not available for immediate withdrawal. Deposit limits & other restrictions may apply.

Online Account Opening is only available to consumers. Ask for details. Data connection required to open an account online. Wireless carrier fees may apply. Application is subject to approval & further review. Information is accurate as of the date listed below and may change without notice.

¹Certificate of Deposit. Minimum $500 to open account. Withdrawals before the maturity date are subject to penalties. Fees could reduce earnings. Additional terms, conditions, fees & exclusions may apply. Annual Percentage Yield (APY) and information is accurate and effective as of February 24, 2025. Subject to change without notice.

²FDIC insurance is applicable to eligible deposit accounts and up to the maximum allowed by law. Learn more at FDIC: Deposit Insurance.

Bankrate is a registered trademark of Bankrate, LLC. Forbes is a registered trademark of Forbes LLC. SmartAsset is a registered trademark of Financial Insight Technology, Inc. NerdWallet is a registered trademark of NerdWallet, Inc.

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