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.
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